The Oswego Village Board has approved concept plans for Hudson Pointe, an 80 acre residential subdivision proposed for development near the southwest corner of Wolf’s Crossing Road and Route 30 on the village’s far east side.
The board approved the Lennar Corporation’s concept plans for the subdivision in a split 5-1 vote June 8. Board member Brian Thomas cast the lone negative ballot.
Lennar’s concept plans call for the construction of 149 single family homes along with 14 three-story apartment buildings containing 336 rental units along the south side of Wolf’s Crossing Road, about one-quarter mile west of Route 30.
Lennar is proposing multiple designs for the single family homes which would range in size from three-bedroom with 1,649 square feet of living space to four bedrooms with up to 2,900 square feet of living space.
Apartments would feature options for one or two bedroom-style dwellings with monthly rents ranging from $1,400 to $1,900. The apartment section of the development would also feature a clubhouse with a leasing office, pool, and other amenities.
While discussing the concept plans, Thomas raised a question concerning the proposed apartments, noting there are currently multiple multi-family housing developments planned or under development in the village.
“Has there ever been a scenario where these multi-family units don’t rent for what you project they rent for?” he asked Lennar representatives. “Do you have to lower the price if that happens?”
The representatives said they “feel very confident” that they will be able to fill the 336 apartment units at the projected rent levels.
Preliminary data provided by the village in a memo to the board shows that the development is estimated to pay almost $3.9 million in total impact fees, with $1.1 million in impact fees and $421,080 in land cash fees going to Oswego School District 308.
The village’s planning and zoning commission previously approved a recommendation in support of the plans during a special meeting May 13.
The commission conditioned its approval on the following developer requirements as recommended by the village’s planning staff: installation of several pedestrian crossings, such as sidewalks; that the developer prepare a traffic impact study considering the potential for a traffic control signal at the intersection of Wolf’s Crossing Road and Devoe Drive; construction of a traffic signal if determined to be required; and creating dedicated right-of-way and right/left turn lanes into the subdivision.
With the project’s concept plan now approved, the developers will seek village board approval of annexation and Planned Unit Development (PUD) agreements for the subdivision.
Source: The Daily Chronicle