New Downtown Lisle TIF District Created What are the Opportunities for You?

Transcription

1

2 New Downtown Lisle TIF District Created What are the Opportunities for You? Capitalizing on the exciting opportunities in award-winning Downtown Lisle, Marquette Investments plans to break ground on a $40 million amenity rich, mixed-use development which includes 201 luxury apartments and 15,000 square feet of retail/commercial space across from the Downtown Lisle Train Station, 3 rd busiest station on the line. Main Street Village Downtown Lisle Marquette Rendering The Village of Lisle has invested $20 million to enhance and revitalize its downtown and attract significant private investments by improving infrastructure, traffic patterns, streetscape, facades, incentives and creating the PrairieWalk Pond storm water management//recreation area. To facilitate continued redevelopment and create a vibrant and dynamic place in which to shop, live and visit, a Downtown Lisle TIF District was recently approved which is expected to provide $17.5 million for redevelopment. Award-winning Downtown Lisle is now the perfect place for new retail businesses, quality restaurants and destination and transit-oriented redevelopment. It also presents attractive opportunities for developers and investors.

3 Village of Lisle is Committed to Quality Redevelopment of Award-Wining Downtown Lisle The new TIF will provide the financing to build upon the downtown s already strong foundation and spur additional economic growth in the area. It will help generate those public-private partnerships with investors and developers necessary to fund and finance quality commercial and mixed-use projects in Downtown Lisle. The Village Board established the following goals for the new Downtown Lisle TIF District: Promote the redevelopment of existing vacant or underutilized property Provide for the assembly or coordination of property for viable, quality redevelopment projects Facilitate and coordinate parking improvements that are aligned with Downtown growth and development Provide for the necessary site preparation, grading and demolition of development parcels Coordinate redevelopment activities within the district in a manner that conforms with the fiscal and economic development policies of the Village

4 New Downtown Lisle TIF District Boundaries Boundaries Size: 7.4 Acres North: Ogden Ave. (Rt. 34) South: Burlington & School East: Center St. West: Main St. Total Available TIF Funding $17.5 Million $54.30/Square Foot

5 The Village of Lisle is a dynamic community located In Chicago s western suburbs in the heart of a major transportation network which provides convenient access to O Hare/Midway Airports, Chicago and the interstate system. It is also home to a diverse mix of businesses, including the international headquarters of Navistar, Molex and SunCoke; respected Benedictine University and world-renowned amenities such as The Morton Arboretum. Lisle has become a premier destination for residents, businesses and visitors. Lisle demographics are strong: the median family income is $90,000 at the 3 mile radius and $100,000 at the 5 mile radius. An average of 57.25% of residents 25 years and older have a bachelor s degree or other form of higher education. Thousands of people travel to Lisle to work or to visit amenities including The Morton Arboretum, (one million visitors/year) or to events such as the Eyes to the Skies Hot Air Balloon Fest. A high quality of life make Lisle an attractive location for residents, employers and visitors. Strong Demographics Make Lisle a Attractive Location for Redevelopment 1 Mile 3 Miles 5 Miles Population (2014) 8,707 74, ,504 Households (2014) 3,885 30,357 91,590 Total Employees (2014) 6,632 47, ,406 Median Family Income (2014) $65,039 $90,580 $101,833 Population (25+) with Bachelor s degree or higher (2014) 48.3% 58.3% 56.2% Median Age (2014)

6 What are the Opportunities in Downtown Lisle? A prime parcel of property in the TIF District which borders the Ogden Avenue Commercial Corridor is available for redevelopment. The Village is currently seeking to enter into public-private partnerships with quality focused investors/developers and utilize TIF financing to help fund redevelopment of the site. Other attractive opportunities in award-winning Downtown Lisle are also available. Please contact me to discuss all the advantages, opportunities and incentives available for you in Downtown Lisle, the heart of The Arboretum Village. Downtown Lisle Advantages Outstanding Midwestern location in Chicago s East/West Corridor Pro-Economic Development Village Board Highly Visible Prime Property Available New TIF District Provides Incentives Excellent Demographics Efficient Entitlement and Permitting Processes $20 Million Downtown Redevelopment Initiatives Completed Outstanding Accessibility (air, rail, interstate) Educated, Upscale Population High Traffic Counts (34,000 ADT) on Major East/West Corridor Diverse Consumer Generators (Train Station, Corporate Corridor, Hotels, Amenities, Universities, Residents & more) Please contact me to schedule an Opportunities Meeting: Pete Kelly Economic Development Coordinator Village of Lisle 925 Burlington Avenue Lisle, Il pkelly@villageoflisle.org villageoflisle.org