Oswego trustees recently approved a development agreement for Oswego Senior Living, a residential project for seniors in the heart of the village.
The agreement came about due to a change in the developer.
The concept plan for a multi-story age-restricted assisted living housing development with memory care services originally came before the village in 2020.
The 11-acre site is at the northwest corner of Route 31 and West Washington Street adjacent to Oswego Village Hall. The site has been undeveloped since the early agricultural days of the community, village officials said.
Village trustees subsequently approved a development plan in early 2021. The project recently came before the Village Board with a new developer – Dubuque, Iowa-based IDG-Oswego, LLC.
“The original developer, Erdman, has left the project and a new developer, IDG-Oswego, LLC has taken ownership and wishes to move forward with the development,” Oswego Developer Services Director Rod Zenner said in a report to trustees.
The planned unit development, subdivision and rezoning approvals for the original project remain in place, Zenner said.
“The original development agreement included performance timeframes the original developer failed to meet. The village subsequently declared the agreement void and, at this time, staff is bringing forward a revised development agreement reflecting the new developer and a new development schedule,” he said.
Trustees further approved an ordinance to vacate part of the Parkers Mill and Chapman Place rights-of-way northwest of the intersection of Washington Street and Route 31.
As part of the new agreement, the developer has agreed to build a 38-space public parking lot at their own cost and convey the site to the village once the project is completed. The terms of the new agreement specify that the developer must start the project no later than Dec. 1.
In 2021, the Village Board approved ordinances rezoning and approving the site for the development of 29 memory care residential units and 66 independent living units in a three-story main building, and 47 independent living townhome units, Zenner said.
“Construction of the project has not proceeded since approval in 2021,” Zenner said.
The new developer has agreed to pay development impact fees, totaling approximately $440,000, with the exception of school impact and school land-cash fees. It is an age-restricted project for seniors and will not generate students for the school district, village officials said.
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The plan is to have the project ready for occupancy in May 2024, according to the construction schedule.
Linda Girardi is a freelance reporter for The Beacon-News.