Revitalizing Downers Grove: Meadowbrook Shopping Center Redevelopment
The Meadowbrook Shopping Center in Downers Grove is on the brink of an exciting transformation following the recent approval of a comprehensive redevelopment plan and Tax Increment Financing (TIF) agreement by the Village Council. Located at the strategic intersection of 63rd Street and Woodward Avenue, this project promises to inject new life into one of the area's pivotal commercial sites.
Project Overview
Stellco Properties, based in Naperville, has acquired the Meadowbrook Shopping Center with ambitious plans to revitalize its 18.86-acre property. The redevelopment will unfold in four distinct phases over the next four years, showcasing significant enhancements:
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New Commercial Spaces: The plan includes the construction of three new outlots, totaling 8,400 square feet, aimed at attracting vibrant retail and dining tenants. Additionally, a 15,000 square foot grocery or retail store is slated for the existing in-line buildings.
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Infrastructure Improvements: The project encompasses extensive site improvements such as upgraded parking facilities with enhanced landscaping, new facades for existing structures, and improved pedestrian access throughout the center. These enhancements not only modernize the shopping experience but also align with the Village's vision for improved connectivity and aesthetic appeal along the 63rd Street corridor.
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Financial Impact: Upon completion, the Meadowbrook redevelopment is projected to generate approximately $150,000 annually in additional sales tax revenue and $50,000 in food and beverage tax revenue. Moreover, over the 23-year lifespan of the TIF district, it is estimated to generate $13.7 million in incremental property taxes, demonstrating a robust economic stimulus for the community.
Community Benefits
The Meadowbrook revitalization is not just about economic growth. It's a testament to long awaited and desired, community-centric development. By adhering to Downers Grove's Comprehensive Plan, which designates the site as a Catalyst Site and emphasizes mixed-use development, the project aims to:
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Enhance Local Business Vitality: By attracting new businesses and improving existing facilities, the redevelopment aims to bolster the commercial vibrancy of the area.
- The center is set to be the new home a Starbucks drive-thru, a drive-thru carwash, a quick food service drive-thru, and a large chain grocery store.
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Promote Sustainability: The inclusion of extensive landscaping, shade trees, and modern building materials aligns with sustainability goals, aiming to mitigate the heat island effect and enhance environmental aesthetics.
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Support Urban Connectivity: Improved pedestrian pathways and better access points aim to seamlessly integrate the shopping center with surrounding residential areas, fostering a more walkable community environment.
Next Steps
With approvals secured, including planned unit development amendments and special use permits, the project is set to commence pending final procedural steps. The Meadowbrook Shopping Center redevelopment stands poised to redefine the commercial landscape of Downers Grove, promising not only economic benefits but also enhanced community living standards. As the project unfolds, residents can anticipate a modernized retail hub that reflects Downers Grove's commitment to sustainable growth and vibrant community life. The
For more detailed information and to stay updated on milestones, visit the Downers Grove Civic Center or check the Village's official site HERE for announcements.
