File photo
File photo
Indiana-based Holladay Properties has big plans for the old McChesney & Miller grocery store property in Glen Ellyn.
According to the Daily-Herald, Holladay has visions of a $30 million apartment building complex that will be especially constructed with a millennial clientele in mind.
"We were encouraged by the plan commission to continue down this road, and that is absolutely our intent," Holladay Vice President T. Drew Mitchell said.
While early plans call for a five-story dwelling with up to 86 units that will rent for up to $2,900 a month, other input calls for more retail space and architectural considerations on the building's north facade.
"The towers kind of give the impression of a taller, six-story building, but it's truly five stories above grade," Village Planner Kelly Purvis added, hoping to allay the concerns of residents of the nearby Legacy Condominiums that have lamented the development might be too tall and could obstruct their views.
With those residents also concerned about parking issues for retail customers and visitors, Mitchell said Holladay is committed to enhancing the architectural style of the structure. He is considering a boutique or salon as a street-level tenant.
To address cost concerns, developers are also said to be considering whether to seek tax increment financing or property tax money reserved for redevelopment within an area rather than for local governments.
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