As anticipated, the Village of La Grange Board of Trustees Monday evening gave its final approval to the development plan and design review for La Grange Pointe, a mixed-use residential and retail complex to be built downtown on the former site of the International House of Pancakes.
The Board's approval was granted in a special meeting convened to address this matter only. The session lasted less than ten minutes. The vote in support of the project was unanimous among those trustees present. Trustees Richard Cremieux and Barb Wolf were not in attendance.
Last evening's meeting was third time the Board had considered final approval for La Grange Pointe. Twice before the matter was tabled, both times over issues surrounding transfers in ownership of the project.
The issue settled in negotiations between Village officials and La Grange Pointe's developers prior to last night's meeting involved the Village's right to consent over any transfer of ownership of the project for a period of one year following the point at which 50 percent of the planned 30 residential units are occupied.
That period of consent was considered critical by Village officials who felt that time was needed in order to adequately assess if the "urban senior living" component of the project was being conducted as expected.
Operating under that concept, La Grange Pointe's owners only have to provide one onsite parking space for every two of the 30 residential units. Because occupancy of the units is restricted to persons 55 years and old, the developers anticipate that 15 parking spaces will be adequate because many of its elderly residents will no longer be car owners.
Village officials had expressed concern that if the urban senior living concept were not successful, the developers might attempt to sell the project to an "unqualified" developer who might recast the project without age restrictions, thereby creating a demand for parking beyond the 15 space provided and increasing the burden on the Village-owned parking lots.
The twelve-month consent window initially was opposed by representatives of MIDCO La Grange LLC and Inland Real Estate, developers of La Grange Pointe. They argued that it constituted an unfair burden to which other owners of downtown residential properties are not subject.
Village trustees countered that their approval of any new buyer within that one-year timeframe was a condition only because La Grange Pointe's owners were benefitting from an exemption in the onsite parking requirement typically imposed on owners of other downtown residential properties.
Based on the final plan approved last night, the developers appeared to relent in their opposition to the twelve-month consent window. None of their representatives attended last night's session.
Patrick Benjamin, director of community development for the Village, said the developers had told his department they intended to break ground on La Grange Pointe in June of next year.
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