Glenview officials rejected two residential redevelopment proposals after their first look, despite the beleaguered state of both properties.
The Glenview New Development Commission recently turned down Core Spaces’ plan to build over 100 rental homes at the vacant Scott Foresman office campus, along with GoodHomes’ proposal to convert the Renaissance hotel into 255 apartments, Crain’s reported.
Both property owners are running out of options. Chicagoland’s office and hospitality sectors are in shambles, and going the residential route is one of the few viable options as the commercial real estate market shifts.
The Renaissance hotel, located at 1400 Milwaukee Avenue and owned by Raleigh, North Carolina-based Alliance Hospitality Management, has struggled to stay afloat since Allstate sold its corporate headquarters to Dermody Properties, which plans to convert the site into an industrial complex. Plus, the Chicago area’s hotel industry is still recovering from the pandemic.
“The demand for hotel accommodations in this market is gone,” Alliance Hospitality’s Rolf Tweeten told the outlet. “We’re all distressed. The entire market is distressed.”
Glenview officials said no to GoodHomes’ proposal partly because of the fiscal impact it would have on local schools, and it would exceed density limits under current zoning. However, the developer isn’t giving up on the idea. The firm aims to seek approval from the Village Board, which has the final say on the developments and could overrule the New Development Commission during an upcoming meeting.
Core Spaces’ proposal has been met with much stronger opposition from officials and residents alike. The firm originally wanted to build 140 units — 112 single-family homes and 28 townhomes — at the 19-acre Scott Foresman campus on East Lake Avenue, which has been vacant since 2020 when its most recent tenant Savvas Learning, moved to Northbrook.
Residents in the neighboring Tall Trees subdivision and board members said the development would be way too dense, as it would have packed 7.25 homes into each acre. Core Spaces later revised its plans, proposing just 108 units instead, but it still failed to gain initial approval.
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In addition, since the project would comprise rental homes, some residents believe it would foster a community of “takers” that don’t appreciate or give back to the community, unlike Glenview homeowners who put the town and its people first. Opponents also said the development would subsidize school-age children, driving up taxes among property owners.
— Quinn Donoghue