Village: Local Developer to Take the Lead on Downtown Plan

It will be years before the village’s downtown master plan becomes a reality, but Romeoville is moving the project along by working on a deal to bring a local developer on board.

Mayor John Noak said the village is finalizing a deal with the Land and Lakes Company to become the lead developer for the project, which includes the largely vacant Spartans’ Square shopping center and consists of 40 acres encompassing Route 53 to Dalhart Avenue and Normantown Road to Alexander Circle. Under the deal, the company would become the driving force behind development as the new downtown takes shape.

According to the village’s downtown redevelopment Web page, “the area has approximately seven acres of undeveloped land, with the remaining acres being developed without any formal planning specific to this area.” In 2003, under then-mayor Fred Dewald, the village hired Hitchcock Design Group to create a master plan to redevelop the area.

The village has owned Spartans’ Square since 2008. The remaining tenants include a Subway restaurant and laundromat. According to Noak, the village has not been renewing leases as they expire, instead working to find new locations for tenants or find ways for the existing businesses to fit into the new downtown as it develops. The plan is to demolish the aging shopping center to make way for a revitalized downtown development, he said.

A downtown tax increment financing (TIF) district will help provide incentives for developers as new retail and commercial ventures enter downtown. A TIF district relies on partnerships with area taxing bodies, including school and library districts, essentially borrowing against the tax revenues from future growth to set aside tax dollars for capital improvements.

Lead developer

Land and Lakes is no stranger to Romeoville. The company is behind the Heritage Place and Poplar Ridge subdivisions, along with the Bluff Point industrial development. Land and Lakes also operates a landscape waste and clean fill facility in the village.

“They’ve been around town for some time,” Noak said.

The village in negotiations on the structure of the agreement with Land and Lakes, Noak said, adding that more details will be released after the deal is finalized. It will likely take several weeks before the agreement is completed, he said.

According to Noak, having a lead developer to drive the project is crucial.

“You have to have private investors as part of the equation” in order to attract retailers and other commercial ventures, he said.

For an overview of the village’s downtown master plan, click HERE. A video and PDF aimed at potential developers also offer more information on plans for the downtown site.