Plans to develop the old Avon property with a grocery store, apartments and several other retail businesses are in the works.
Glenview officials entered into an agreement this month that would help fund infrastructure improvements for the property.
Trustees agreed to a memorandum of understanding, granting the developer up to $3.5 million in TIF funds for the property that would pay for traffic improvements surrounding the property, where the Avon distribution center closed in 2010.
As proposed, a Mariano’s Fresh Market would anchor the property. It would also include 30,000 square feet of additional retail space, including a bank on the south end of the property. This is the second proposal for a grocery store approved by village officials this month. They also approved plans to bring a Heinen’s to downtown Glenview.
The north end of the Avon property would be home to a residential rental project, with approximately 238 units, and a three-story high building.
The east side, which is adjacent to the Metra tracks, would include 49 new parking spaces for Jennings Chevrolet and Volkswagen employees.
The plans also call for improvements to nearby sidewalks and roadways.
In 2011, Regency development brought forward a plan for the property, which nearby residents objected to. In the plan, the primary access to the property was a signalized intersection already in use on Overlook Drive. Residents felt that would increase traffic in the area.
Village officials tabled the plan, and have been working for the past several months to develop a new project.
The new plan would have a mid-block signalized intersection so the main access to the property would be at a new signal between Golf and Overlook. There also would be dual left turns added at Golf and Waukegan
The TIF district would help support these improvements up to $3.5 million. The developer will not have access to the TIF funds until the project is built. The funds would come from money generated through the property.
“This does not involve using current funds or revenues of the village,” Village Trustee Paul Detlefs said at the most recent village board meeting. “It would be funds generated from the project to fund it.
“It’s not taking money out of current village operations or revenues or balances,” he said.
The plans still need to proceed through the village’s plan commission and to the village board again before they get final approval.
However, excitement is building at the prospect of redeveloping this area in Glenview, officials said.
“The public eagerly has anticipated improvements to downtown and certainly looking at the Avon development was an important piece,” Village President Kerry Cummings said.