NORMAL, Ill. (WMBD) — A Champaign-Chicago based developer is hoping to chip away at the housing shortage in Bloomington-Normal.
Wednesday, Fairlawn Capital, who also developed Wintergreen Subdivision and is working to develop the Weldon Reserve subdivision unveiled plans for a luxury, multi-family housing complex in North Normal.
The development is called Carden Springs and it’s what Fairlawn Capital partner and retiring State Senator, Jason Barickman calls “A-plus luxury housing” and something Bloomington-Normal does not currently have.
While it’s got all the glitz and glam of modern living, it’s also practical; once complete it will have 477 units in total.
“This product, this style of housing is something we identified some time ago as being one that is in need,” Barickman said.
On 39 acres of land just south of I-55 and Ironwood Golf Course, Carden Springs will feature mostly one and two bedroom apartments. The plans currently have a three bedroom apartment option and townhomes as well.
The community itself will have “superior amenities” including a dog park, resort-style pool, EV charging stations and walking/biking trails.
Wintergreen Subdivision is directly to the west of the development. Barickman said an open house will be held Wednesday, December 14th, at Prairieland Elementary so the neighbors can weigh in.
“I think with the amenities including the public trail, I think the town and the people who live adjacent to here will view this as a project that is going to enhance our entire community,” Barickman said.
CEO of Bloomington-Normal’s economic development council, Patrick Hoban said employment booms at Rivian and Ferrero are driving demand in housing. According to the EDC’s recent housing study, there’s a 4,300 deficit of housing units in the area.
Hoban said since then that number has increased.
“It provides the variety we are looking for. If you drive around Bloomington-Normal a lot of the houses start to look the same. If you’re in a student area, it’s student housing; after that it’s for mostly families. This is going to be a nice mix,” Hoban said.
Hoban said the development is geared toward young professionals, but in some instances empty nesters are also attracted to this style of living.
“Right now, we’ll take what we can get especially at something at this scale because it’ll free up other housing opportunities for future residents,” Hoban said.
Rent is projected to be anywhere from $1,500-$2,300 a month.
Hoban and Barickman agreed the area is also in need of affordable housing as well. Hoban said there are a couple projects in the works to address that shortage.
Normal’s planning commission will consider the Carden Springs project at its January 5th meeting. Construction is anticipated to start in spring of 2023 and last four to five years.