From the 7/17/09 Daily Herald:
Q. How do you go about supporting business development in your community?
A. Volo is a home rule community and that allows a certain amount of flexibility in the amount of help we can give a developer, such as sales tax rebates. We are also able to extend water and sewer systems to vacant or developable land such as the area of Route 12 and Volo Village Road.
Q. What is currently in the works (ground has been broken or will be in the next couple months)?
A. At the present time, I only see one project that could break ground in the next several months; that is a Thornton's gas station at the Northeast corner of Route 12 and Volo Village Road.
Q. What is in the planning stages?
A. The more than 700,000-square-foot retail development, planned by Mid-America/Orput Group, is still ready to start as soon as there is a better economic picture.
Q. What is your town's biggest economic development wish?
A. Our residential communities are still growing and our commercial area is still alive. Our wish is for a better economy.
Q. What is your community's single greatest asset or selling point to potential developers?
A. Volo's greatest selling point to developers is its location within a major road network that Volo continues to improve by our efforts to update the major intersections of Route 12 and Molidor Road, Route 120 and Fish Lake Road, Route 60 and Fish Lake Road and Route 120 and Route 60.
Q. Have the challenges presented by the current downturn forced you and your community to approach economic development differently? What are the changes and how well are they working?
A. The current economic downturn has required us to reconsider some of the projects on our to-do list and look for other sources of funding those most necessary. We have had only limited success with applications through the American Recovery and Reinvestment Act of 2009.
Showing posts with label Residential Development. Show all posts
Showing posts with label Residential Development. Show all posts
Wednesday, July 22, 2009
Friday, February 22, 2008
Volo home sales up 140% in 2007
From the 2/22/08 Daily Herald. I'm assuming the increase is in # of homes sold in 2007 vs. 2006 as opposed to $ value.
Chicago Condos Stronger Sellers
Condominium units, especially in the City of Chicago, were the top performers in the housing market, according to an analysis of 2007 sales activity by RE/MAX Northern Illinois. The analysis was based on data collected by the Multiple Listing Service of Northern Illinois.
Sales of condos and townhouses (classified as attached homes by the MLSNI) were equal to or higher than 2006 levels in 55 suburban communities and 29 city neighborhoods in 2007. Total sales of attached homes in the seven county Chicago metropolitan area fell 18 percent in 2007, but declined just 10.5 percent in the City of Chicago.
MLSNI data shows a total decline of 21.3 percent for sales of all types of housing in the entire metro area, with sales of detached units (primarily single-family homes) posting a 23.8 percent decrease for the year.
"The city condo market showed particular resilience in 2007 across almost all parts of the city and all price categories," said Jim Merrion, regional director of RE/MAX Northern Illinois. "Overall, the current housing market offers an outstanding opportunity for buyers to take advantage of falling interest rates for mortgages and an extensive inventory of homes for sale in almost every price category."
In Chicago, sales of attached homes, mainly condominiums, rose in 27 neighborhoods, with the most striking gains coming in such newly chic areas as North Center (11 percent), Lincoln Square (18 percent) and Avondale (24 percent). McKinley Park earned honors for the largest percentage increase with 51 attached sales, up from eight the year before, a gain of more than 500 percent.
Only four of the 77 official city neighborhoods saw sales increase in both the detached and attached categories. Those neighborhoods are Lincoln Square, Forest Glen, Bridgeport and Mount Greenwood. However, none of those areas had the largest percentage increase in total sales. That honor went to McKinley Park, where total sales rose 55 percent, with 73 homes changing hands. Bridgeport saw total sales rise 22 percent to 159 units, and in Lincoln Square, where the market is much more active, sales rose 19 percent to 678 units
Across suburbia, sales as a whole fell 24.2 percent in 2007, based on MLSNI data, and while there were local variations, sales in all seven counties of the metro area were down at least 20 percent, with Will County showing the largest dip in sales activity at 27.2 percent.
Nonetheless, 20 suburban communities did see total sales equal or surpass those of 2006. Among those communities recording the largest gains were Volo (140 percent), Kenilworth (72 percent), Fox River Grove (22 percent) and LaGrange Park (13 percent). Sales of attached homes were especially strong in Willowbrook and Lake Forest (both up 24 percent) and Yorkville (up 58 percent).
Chicago Condos Stronger Sellers
Condominium units, especially in the City of Chicago, were the top performers in the housing market, according to an analysis of 2007 sales activity by RE/MAX Northern Illinois. The analysis was based on data collected by the Multiple Listing Service of Northern Illinois.
Sales of condos and townhouses (classified as attached homes by the MLSNI) were equal to or higher than 2006 levels in 55 suburban communities and 29 city neighborhoods in 2007. Total sales of attached homes in the seven county Chicago metropolitan area fell 18 percent in 2007, but declined just 10.5 percent in the City of Chicago.
MLSNI data shows a total decline of 21.3 percent for sales of all types of housing in the entire metro area, with sales of detached units (primarily single-family homes) posting a 23.8 percent decrease for the year.
"The city condo market showed particular resilience in 2007 across almost all parts of the city and all price categories," said Jim Merrion, regional director of RE/MAX Northern Illinois. "Overall, the current housing market offers an outstanding opportunity for buyers to take advantage of falling interest rates for mortgages and an extensive inventory of homes for sale in almost every price category."
In Chicago, sales of attached homes, mainly condominiums, rose in 27 neighborhoods, with the most striking gains coming in such newly chic areas as North Center (11 percent), Lincoln Square (18 percent) and Avondale (24 percent). McKinley Park earned honors for the largest percentage increase with 51 attached sales, up from eight the year before, a gain of more than 500 percent.
Only four of the 77 official city neighborhoods saw sales increase in both the detached and attached categories. Those neighborhoods are Lincoln Square, Forest Glen, Bridgeport and Mount Greenwood. However, none of those areas had the largest percentage increase in total sales. That honor went to McKinley Park, where total sales rose 55 percent, with 73 homes changing hands. Bridgeport saw total sales rise 22 percent to 159 units, and in Lincoln Square, where the market is much more active, sales rose 19 percent to 678 units
Across suburbia, sales as a whole fell 24.2 percent in 2007, based on MLSNI data, and while there were local variations, sales in all seven counties of the metro area were down at least 20 percent, with Will County showing the largest dip in sales activity at 27.2 percent.
Nonetheless, 20 suburban communities did see total sales equal or surpass those of 2006. Among those communities recording the largest gains were Volo (140 percent), Kenilworth (72 percent), Fox River Grove (22 percent) and LaGrange Park (13 percent). Sales of attached homes were especially strong in Willowbrook and Lake Forest (both up 24 percent) and Yorkville (up 58 percent).
Friday, October 26, 2007
The dust needs to settle
While construction is fully underway on the Starbuck's site, I've also been hearing the sound of bulldozers on the plot of land just south of my house (I live in Terra Springs). The thin layer of brown dust that settled in my house while I still had the windows open was a sign that earth was definitely being moved.
In checking the zoning map, it looks as if that section of land, that I thought was occupied by a nursery, has also been zoned as Mixed Use PUD. In doing some further checking, it looks as if this land is what is known as Remington Pointe North, which will add more single family homes just south of Terra Springs. It looks as if Brandenburg Rd will continue east of Route 12. It's a shame they can't build a connector road into the south end of Terra Springs so that those of us who live on the south end of Terra don't have to head all the way north to Home Depot and then backtrack.
Looks like my windows are going to need to stay closed for the next few years! :-)
In checking the zoning map, it looks as if that section of land, that I thought was occupied by a nursery, has also been zoned as Mixed Use PUD. In doing some further checking, it looks as if this land is what is known as Remington Pointe North, which will add more single family homes just south of Terra Springs. It looks as if Brandenburg Rd will continue east of Route 12. It's a shame they can't build a connector road into the south end of Terra Springs so that those of us who live on the south end of Terra don't have to head all the way north to Home Depot and then backtrack.
Looks like my windows are going to need to stay closed for the next few years! :-)
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