Developers Showing Interest In Property North Of Circle | WGLT

Developers Showing Interest In Property North Of Circle

Feb 16, 2016

Developers are showing interest in developing what is now a parking lot in the foreground of this photo of Uptown.
Credit Brad Basham Photography / bbasham.com and Town of Normal

Filling the hole in the ground in Uptown Normal may not be the only upcoming project for that district. During Mayor Chris Koos' regular Sound Ideas interview he told GLT's Mike McCurdy that developers are showing "active" interest in plots other than the property adjacent to the recently completed Hyatt Place Hotel.

"We have two other development sites on the circle and all of sudden we're starting to get activity," said Koos. "People are interested in that. They're looking at it. We have multiple parties looking at those sites."

The sites Koos referenced are the northeast and northwest quadrants off the circle. The parcels border  Constitution Boulevard between Uptown Circle and College Avenue.

"Until we sign a redevelopment agreement, nothing is serious," said Koos. "But it's not like they're casually looking. There's a discussion going on."

The Normal Town Council voted to issue $10 million in bonds on Monday. Koos says $2.8 million will go toward construction on the remaining part of the Uptown hole in the ground. Construction will begin this spring. The non student residential project with restaurant and retail on the bottom would be done in 12 to 14 months.

Koos said it's "good" to return to the hole in the ground after it was put on hold following the 2008 financial collapse.