112 Condos Planned On Burr Ridge Site
The "luxury" development would be on the old TCF Bank property, a marketing flyer says. The developer has not turned in an application yet. A marketing flyer from AlphaTerra Realty Capital, which lists a Deerfield house as its address, has been posted online by the village of Burr Ridge, showing that the developer is planning three stories over parking and a four-acre complex. The entire TCF site is 13.5 acres. The company has not yet applied for the development. In 2020, Mayor Gary Grasso warned that the village may declare a "moratorium" on the site to get it developed. In 2022, the village said a developer wanted 400 to 500 apartments on the property.
Published : a month ago by David Giuliani in Business
Last month, the village posted online the marketing flyer from AlphaTerra Realty Capital, which lists a Deerfield house as its address. The firm has not formally applied for the development. The flyer says the developer is planning three stories over parking and that the complex would take up about four acres. The entire TCF site is 13.5 acres, according to the village.
AlphaTerra said in the flyer that the "luxury condo" concept "aligns with the underlying zoning and public discussions." The flyer advertises the site as being close to shopping and both existing and planned restaurants.
The document lists Peter Tremulis as AlphaTerra's managing member. He couldn't be immediately reached for comment Thursday. Now, a five-story vacant building sits on the site. Vacant for the last few years, the structure is at 800 Burr Ridge Parkway, near the Village Center.
In 2020, Mayor Gary Grasso warned the village may declare a "moratorium" on the TCF site. He said the purpose was to get the owner's attention and "red-flag it to get it developed." In 2022, the village said a developer wanted 400 to 500 apartments on the property. At one point, Grasso said most of the proposals for the site were for apartments. The densities were "unbelievable" and the configurations were "unacceptable," he said.