New luxury housing development planned for Normal

https://ift.tt/zMPO1Ef

NORMAL — Plans are moving forward for a new luxury multi-family housing complex in Normal that developers say could help alleviate the area’s housing crunch. 

Representatives of Champaign-based developer Fairlawn Capital, which is responsible for the Wintergreen and Weldon Reserve subdivisions, announced their newest endeavor Wednesday. Called Carden Springs, the development would include 477 units across a 39-acre complex on the town’s northeast side. 

“We believe that Fairlawn is uniquely situated to provide housing solutions to the rapidly evolving need of Bloomington-Normal’s growing workforce as well as to assist with strengthening the community’s economic competitiveness and desirability for new businesses and residents,” said state Sen. Jason Barickman, R-Bloomington, a partner with the firm. 

The development is planned across from the Evergreen Villas condominium complex in north Normal in an area bounded by Interstate 55 to the north, Towanda Avenue to the east and Beech Street to the south.

Developers plan to ask the Normal Town Council to authorize a planned unit development, annex land and rezone the property. Documentation was filed earlier this week, Barickman said, and the Normal Planning Commission is set to consider the matter Jan. 5. An open house is planned next week to allow residents to hear the plans and offer more feedback. 

Carden Springs will feature 29 garden-style buildings, developers said. Seven would be two-story buildings, 15 would be three-story buildings and seven would be townhomes. 

Rent is estimated to range between $1,500 to $2,3000 a month. Plans call for 206 one-bedroom units, 204 two-bedroom units, 32 three-bedroom units and 35 three bedroom townhomes.

“The three-story buildings are set back in the development, so they’re not facing Beech Street. They’re not facing the single-family homes that adjoin this,” said Barickman, who plans to resign from the Illinois Senate next month. “We’ve really tried to accommodate our neighbors.”

Units will have open-style floorplan designs with living spaces, stainless steel appliances, vinyl flooring and other high-end finishes, Barickman said.

Amenities featured in the plans include a publicly accessibly trail along Towanda Avenue and Beech Street, a resort-style swimming pool, electric vehicle charging stations and outdoor community spaces like a playground, multiple grilling pavilions, a dog park and fishing areas.

There will also be a main clubhouse with on-site staff, lounge areas, and wellness amenities including a fitness center, pickleball courts, bicycle storage and repair station, and work-from-home stations, he added.



Will Thompson (from the right), Chris Harman, Patrick Hoban and Jason Barickman announced their newest housing endeavor Wednesday named Carden Springs. The new luxury multi-family housing development is being planned for north Normal and could alleviate the areas housing crunch. 



Mateusz Janik



The development will be constructed in multiple phases, starting with the clubhouse in spring 2023, said Jim O’Neal, president and owner of O’Neal Builders, which is expected to construct the project. 

“It’s actually a very good time to put together a project like this,” O’Neal said. “Lumber costs right now are the most affordable they’ve been in several years.”

Construction will continue over a four- to five-year period and units will be available as they are developed, O’Neal said.

Patrick Hoban, president and CEO of the Bloomington-Normal Economic Development Council, said the proposal is “exactly what we hoped our community would attract” to address the area’s housing shortage. 



State Sen. Jason Barickman, R-Bloomington, who is a partner with Fairlawn Capital, talking about the upcoming Carden Springs infill development. It is comprised of 39 acres and will be located across from the Evergreen Villas condominium complex in north Normal and is bounded by I-55 to the north, Towanda Avenue to the east and Beech Street to the south.



Mateusz Janik



The EDC earlier this year released a comprehensive analysis of the housing situation, finding demand for an additional 4,300 to 4,800 units. 

“We are excited to see this high-quality project become part of the solution to our community’s vast housing needs,” Hoban said. 

He noted that McLean County’s population is projected to grow by roughly 10,000 people by 2030, according to state data. 

Now with workers from Rivian Automotive, Ferrero and other major employers expanding or coming to the area, the need for diverse housing has been accelerated, Hoban said.

New software allows the EDC to track cell phones and study where people live versus where they work. Hoban said it showed that 8,900 people traveled to Rivian on Friday, with 4,700 of them living locally and the remaining workers commuting from outlying communities. 

“With the economic impact, it would be nice to capture those dollars so that people go home here and spend their dollars in our restaurants instead of going to Peoria or Champaign and somewhere else,” Hoban said. “I think there’s gonna be a lot of demand and actually benefit our entire community and our economy.”


Dec. 7, 2022.



FAIRLAW CAPITAL



Contact Mateusz Janik at (309) 820-3234. Follow Mateusz on Twitter:@mjanik99

Get local news delivered to your inbox!

Subscribe to our Daily Headlines newsletter.

Region: Bloomington,Local,City: Bloomington,Region: Central

via pantagraph.com – RSS Results in news/local of type article https://ift.tt/Pi9LKdh

December 7, 2022 at 03:37PM

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s