The developer for the Streets of St. Charles project is asking approval to reduce the number residential units and the total square footage in the mixed-use development.
Cullinan Properties submitted an amended development plan which shows between 400 and 590 units would be built in two buildings. The current plan calls for 520 to 620 units to be built in four buildings on the site.
In addition, total square footage minimum would reduce to 718,000 from current low of 1.1 million.
The is expected to consider the amendment during the July 10 council meeting.
City staff said in a recommendation to the council that the decrease in residential units "detracts somewhat" from the original mixed-use concept for the project.
Rob Wetherald, vice president of Cullinan Properties, said they altered the range of commerical square footage proposed because they found that premier dining restaurants prefer to be in stand-alone buildings as opposed to a part of a mixed-use buildings.
The 2,000 block of the project will have four stand-alone restaurant/retail locations, according to the map (see above).
"We decided to go forward with this range of square footages to pare it down to something we think is realistic a year later," he said.
Councilman Dave Beckering, Ward-7, said he looks at the bottom line in the change.
"It was 1 million square feet. I look at that — we now for a $54 million TIF (Tax Increment Financing) have gone from 1 million square feet to about 700,000," Beckering said.
The approved changes to the development plan several times since the original plan was approved in August 2006.
The proposal from original developer, Whitaker, included 27 buildings, one of which would be 12-18 stories high, with the majority being 5 or 6 stories high. More than 374,000 commercial square footage and 633 residential units were to be built.
In April 2007, Whitaker bowed out as developer and Cullinan Properties took over the project requesting some minor changes to the development agreement. Here's a summary of other changes requested:
- December 2008: 14 buildings, 9 of which are five or six stories tall, 673,000 square feet commercial space, 540 residential units.
- January 2010: 17 buildings, 14 of which are one or two stories, none taller than 4 stories high, 502,337 square feet commercial space, 542 residential units.
- June 2011: 17 buildings, up to 12 that are one or two stories high, up to five that are 5 or 6 stories high, 560,000 to more than 1.1 million in commercial square footage, 520-620 residential units.
- July 2012 Proposed Change: 17 buildings, 7 of which is one story tall, four of which are 2-4 stories and six of which are 4-8 stories, 448,000-869,200 square feet commercial space, 400-590 residential units.
More than 100,000 square feet of space has opened on the project. Earlier this year, the Art Institute opened a school in the first building on the property.
Wetherald said they have started site work for a second building on the project.