Avalon Bay Chosen for Downtown Skokie Redevelopment

The Skokie Village Board will soon give formal authorization to Village staff to work out the terms of a development agreement with Avalon Bay Communities, Inc. for a new mixed-use retail project in the western section of Downtown Skokie. At a special Village Board meeting on May 29, 2007, Avalon Bay, Morningside Group and Norwood Builders, Inc., gave presentations on their responses to a January 2007 Request for Qualifications the Village issued for the redevelopment project. The three firms were finalists from a total of seven responding with redevelopment proposals for the block bounded by Brown Street to the north, Oakton Street to the south, Lincoln Avenue to the east and Floral Avenue to the west. “The Village Board agreed that Avalon Bay is the best of the best,” commented Mayor George Van Dusen. “All three firms gave excellent presentations with interesting concepts for the redevelopment block. A number of factors led to Avalon Bay’s selection, including their extensive development experience, well-developed land strategy and the unique product they offer Downtown Skokie.” Avalon Bay specializes in one- and two-bedroom luxury rental properties, with firm representatives citing 95% occupancy of their developments across the United States. According to Van Dusen, Avalon Bay plans to begin the project without any pre-sale requirements typical of mixed-use projects with a residential component. “This also appealed to the Village Board, along with Avalon Bay’s strong financial status that includes a development fund,” he explained. Avalon Bay is headquartered in Washington, DC and has a regional office in Arlington Heights, Illinois. In late June or July 2007, the Village Board is expected to give formal authorization for Village Manager Albert Rigoni and staff to begin advancing a development agreement with Avalon Bay. While the primary project focus is on two Village-owned parcels in the center and southern sections of the redevelopment block, Avalon Bay and all responding developers included concepts for larger portions of the block. The Village plans to continue regular public communication with Skokie residents and Downtown Skokie businesses during all phases of the redevelopment project. For additional information: Mayor George Van Dusen; 847/933-8269 Albert J. Rigoni, Village Manager, 847/933-8210