Residential Portion of The Glen Faring Well
Homes in the Glen are nearly fully occupied. The retail section is still battling foreclosure.
Nearly all the homes in The Glen are occupied, according to an article in TribLocal based on 2012 stats released by the village.
Of the 2,705 homes in the 12 development areas that are part of the 1,028-acre site, 1970 are occupied, the article says. This is what the village had expected.
The retail section of the development is not doing as well. Glen Town Center Developer OliverMcMillan is facing a $55.6 million foreclosure suit. The highly anticipated 267,000-square-foot mixed-use retail center opened in 2003 and was supported by the Village with a $12 million revenue-sharing agreement with the developer.