A small residential development proposed for south of downtown Tinley Park could be among approximately 20 home-building projects officially considered, approved or begun in 2014.
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Assistant Village Manager Mike Mertens acknowledges 20 is a far cry from the numbers the village saw prior to 2007-09 — the country’s housing market collapse — but says it reflects an upswing.
The improvement began in 2012 with three to five residential projects, but clearly was underway in 2013 with roughly 10 new projects, he said. He predicts Tinley Park could see 40 residential projects begin in 2015.
Planning director Amy Connolly sees a similar forecast. There has been a “steady stream of phone calls” since last spring, she said.
“We’re talking about a lot of residential development,” she said, noting there is particular interest in key downtown sites: the former Central Junior High School property and North Street. At least one developer has expressed interest in taking over the proposed South Street mixed-use development, she said.
Connelly said developers are interested in multi-family projects as well as traditional single-family home subdivisions.
“We’re seeing townhomes — brownstone stuff,” she said, referring to materials and design. “Things we haven’t seen in Tinley before. It’s kind of exciting.”
Among future developments is Tom Panos’ and Andrew Poulos’ proposal for nine buildings — each containing three units — on 3 acres off the 17800 block of Oak Park Avenue.
The village’s first formal step in the planned development is rezoning a 0.75-acre parcel to bring it in line with the rest of Panos’-Poulos’ property, which is Neighborhood General. December village board meetings would include the request, endorsed last week by the plan commission.
Panos has said he decided to build now on property he’s owned for eight years.
“Finally things are a little bit better, and it’s time to do it,” he said.
Mayor Ed Zabrocki said the economy getting better means more opportunities for people — developers and people interested in expanding.
Mertens said “well-capitalized” developers, those with good credit ratings who have money to put in upfront, “are the ones that seem to be moving forward right now.” Coinciding is an increased demand to buy because people are once again able to sell current homes and get loans.
Connolly said elected officials decided the village needed an overall multi-year plan — particularly for Oak Park Avenue — after a marketing study determined Tinley Park could “revitalize the downtown” more easily by encouraging residential development to the north and south.
The plan effectively tells developers, “If you build what we want, your entitlements (zoning changes and variances) will be easier,” she said.
At the same time, Mertens said, village projects such as upgrading the two train stations, regular events and putting more into maintaining streets, sidewalks and other major areas help establish a “sense of place” that developers like.