Bristol/Moran LLC, Holley Court Commercial Partners and Hamilton Partners have jumped at the chance to redevelop a 1.3-acre site, now used as a 100-space parking lot, at the southeast corner of Harlem Avenue and Ontario Street.
"The village is in an enviable position of being able to pick and choose among concepts," says Village President Joanne E. Trapani in a statement. "The Harlem-Ontario site is ideal for a major mixed-use development. It is close to public transportation, yet allows access to a major roadway without going through the neighborhood. The site also has some of the village's taller buildings on its perimeter, which means a larger structure there will not be out of scale."
Whiteco's plans also call for 65,000 sf of retail space, including a Trader Joe's food store, as well as a 50,000-sf Multiplex health club. Bristol/Moran LLC plan an equal number of apartments, a somewhat smaller Bally Total Fitness health club and 12,500 sf of retail space.
Holley Court Commercial Partners' plan is heavy on food and beverages, with 12 restaurants and night clubs, 30,000 sf of office or retail space and a 5,000-sf banquet hall. Hamilton Partners' plan is more vague, offering 110 multifamily units, which could be condominiums, along with 60,000 sf of retail space and a health club.
"The only way that this deal works is that there's municipal support to get that deal done," Whiteco Residential LLC president Rich F. Cavenaugh tells the Real Estate Investment Association recently. "If it works, it'll be a home-run deal."
Cavenaugh tells GlobeSt.com the village would build a $10-million, 600-car parking garage, considered a must in this "urban-suburban" community where space for cars has long been at a premium.
Tenants will likely come from other suburbs further from the city, Cavenaugh predicts. He projects lease-up to take "10 to 12 months" with monthly rents at about $1.85 per sf.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
