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By Kimberly Pohl
Daily Herald
June 1, 2011
Hanover Park's vision to develop a Village Center around its Metra station just got a $100,000 boost.
The Regional Transit Authority awarded the six-figure grant to help the village create a transit-oriented development plan supporting the Village Center initiative.
"What is feasible and able to be implemented in the new market will depend on the economy and developer interest, but this will put the framework in place to help guide development," Hanover Park Village Planner Katie Bowman said. "It's a way to highlight the potential here and recruit interest."
A highlight of Hanover Park's recently completed comprehensive plan, Village Center will be a mixed-use gathering spot centered around retail, restaurants, multifamily housing and historic Ontarioville, officials say. Further south along the proposed Elgin-O'Hare Expressway extension will be office and business parks, according to the plan.
At the heart of it all is the existing Metra station, which the village wants to develop into a multimodal transit center providing facilities for not only the train, but bus, car, bike and pedestrian access.
The plan will provide tools for the village to promote and shape development in the area, design guidelines and implement strategies. Bowman expects the development plan will be completed and released sometime next spring.
This summer, the public will be invited to share ideas through surveys, community workshops and an interactive website.
"We'd like input on the type of businesses people want to see and the overall environment they're looking for," Bowman said.
Based on a 2009 market study included in the village's new comprehensive plan, the planned Village Center could provide an annual sales tax revenue increase of about $1.5 million, as well as increase overall property values by more than $1 billion, according to officials.
They think the initiative will succeed because of Village Center's proximity to regional transportation, major shopping centers and more than 100 acres of underdeveloped or underutilized land in the immediate area.
To spark developer interest, the village has launched an advertising campaign that includes spots in national trade magazines and local news radio.
For more information, visit hpil.org.
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