Three high-profile developments are being delayed in Oak Park – two because of the still-struggling economy and another because of a soon-to-be settled labor union strike.
The village board Monday granted extensions to three different developers, who have projects around town that are in various stages of being built.
Trustees granted an extension for the townhouses and condominiums that are being built at the northeast corner of South Boulevard and Home. The developer was already granted one extension, with the project required to be complete by July 2 of this year. But Homescape Builders asked for and was granted a second extension, pushing the due date to July 2, 2011.
“Soho” is to include 17 townhouses, 15 condos and 2,110 square feet of retail space. It’s largely complete, except for the townhouses that were slated for Home Avenue, according to village documents.
In a June 30 letter to the village, architect John Schiess said that nearly all the condos are sold or almost sold, and two of the townhouses have been sold.
A planned four-story office building on the south side of Madison at Highland is also being pushed back by the economy. A group of local developers got approval from the village board in November to build the office space, which would have a garage and retail at the bottom floor.
Under the approval, the developers, led by Oak Park resident and entrepreneur Mary Jo Schuler, were required to apply for building permits by Aug. 16. However, Schuler is asking for a six-month extension till February, as they’re still seeking tenants for the space.
A third extension was approved by the village board Monday, for a Chicago-based developer planning to build a hotel at the northeast corner of Lake and Forest.
As part of the approval to build the hotel, Sertus Capital Partners was to have razed the empty one-story building on the corner, which was once home to a pancake restaurant and independent grocery store, by July 15. But a strike has halted construction work in the region, and Sertus asked for and was granted an extension until Aug. 15.