Officials OK $6 Million South Street Project Incentive
A mixed-use residential and retail building is in the works for South Street near 66th Court. But the developer for the independent project said he couldn't move forward without incentives from the village. He got them Tuesday.
Tinley Park officials approved this week a more-than $6 million incentive package for an upscale South Street development that trustees have said will boost business and living conditions in the downtown area.
They've called the mixed-use building a "trigger project," according to Chicago Tribune report. The measure, coined The Boulevard at Central Station, was approved unanimously.
The $34.8 million project includes a five-story building comprised of 167 residential units and 24,000-square feet of commercial space. It would be wedged in the area between South Street, 66th Court, 174th Street and 67th Court, adjacent to Luby's Pub & Steakhouse.
The Chicago Tribune reports:
After presenting multiple plans for developing the space to the village for approval in the last nine years, developer Bob Hansen said he is pleased to finally move on to the next step.
“It’s been a long time coming,” he said. “We’ve been in and out of here for 8 or 9 years.”
He hopes to break ground by the fall, he said. The project is expected to take 18 months.