A proposed 90-unit multi-family rental development, referred to as The Residences at Naper and Plank, has been praised by city staffers and a local commission. Nearby residents, however, have shared a litany of concerns about the project’s potential impact, including traffic, density, and compatibility with the surrounding area.
The five members who attended the city’s Planning and Zoning Commission meeting on Wednesday, May 21, gave a 5-0 vote, recommending the project, which is planned to be located at Naperville’s northeast gateway.
The proposal, which also has the backing of the city’s Transportation, Engineering, and Development Department, advances to the decision-making city council and will be reviewed and deliberated further at an upcoming meeting.
Lincoln Property Company behind the project
The Residences at Naper and Plank is being proposed on an 8.21-acre site, currently located just outside Naperville’s city limits in unincorporated DuPage County, and will have to be annexed into the community for the project to coalesce.
Naper Boulevard is immediately east of the site, Plank Road is to the south, and Ogden Avenue is to the north.
The project proposal includes a mixture of 34 townhomes and 56 rowhomes, ranging in size from 1,550 to 1,950 square feet. Two- and three-bedroom configurations are a part of the plan.
Lincoln Property Company, which has attached its name to developments in the Chicago region for more than 35 years, is the real estate firm proposing The Residences at Naper and Plank project.
Vince Rosanova of the Naperville-based real estate law firm of Rosanova and Whitaker served as a spokesperson for the project at the Planning and Zoning Commission meeting.
In his presentation to commissioners, Rosanova touted Lincoln’s expertise in managing residential developments. He also provided a bird’s eye view into the project proposal, including a target market of Millennials and Gen Z, active adults aged 55 and up, and singles and couples over the age of 35.
“We’ve extensively studied the target market,” Rosanova said. “What these folks look for is maintenance-free living. You have very predictable costs in a community like this, and you’re not going to get any surprises. That’s very, very appealing.”
Based on the plans submitted, Lincoln is proposing rents in the range of $3,900 to $5,000, per month.
“It seems very high, but if you tie that into the city’s Census data within a 5-mile radius of this property, the average household income is $150,000,” Rosanova said.
Nearby residents weigh in with concerns about the development’s impact
The Planning and Zoning Commission fielded comments from more than a half-dozen residents living in close proximity to the site of the proposed development. A number of written comments were also submitted, as was a petition signed by 89 people in opposition to the project.
Several of the speakers presented commissioners with data for the 60563 ZIP code that encompasses the immediate area, noting it has more rental units than any other area in Naperville and DuPage County, according to Realty Property Resource data.
“We’re definitely not against the development of this site,” Andrew Serino, one of the residents living near the project proposal, said to commissioners. “I think we’re all in favor of it, though we would prefer single-family homes.”
Fellow neighbor Elizabeth Baumgart implored city decision-makers to take the existing residents’ concerns into consideration.
“Can I ask that you please consider the residents who live in the area, who have literally spent decades — I’m a 35-year resident of that area — living in that area and paying tens of thousands of dollars in property taxes to live in a suburban neighborhood,” Baumgart said. “The proposed development is far too dense and will bring far too much congestion and traffic, among other things, to the area.”
Commissioners give The Residences at Naper and Plank high marks
Following public comment, commissioners emphasized their scope of review was limited to the land use and its compatibility with such documents as Naperville’s comprehensive plan throughout the community, as the guide for recommendations.
“I do think the proposal is very well done,” Commissioner Whitney Robbins said. “I’ve heard all of (the nearby residents’) concerns. I think they’re valid. We hear you. There’s only so much we can do. We’re looking at the land and what makes sense. As far as what we’ve been shown, I think it’s a really well-thought-out plan.”
At face value, Commissioner Derek McDaniel said he is supportive of the project and complimented Lincoln and its representatives for presenting what he deemed a well-thought-out plan. But he also questioned the project’s focus on rentals, as opposed to single-family housing.
Speaking to the ZIP code information presented, McDaniel said, “That data is very important. I think it should be considered. It’s also important to note that Planning and Zoning does not take into consideration any type of revenue or money generated from a specific development.”
Commissioner Michele Clemen said she supports the project because it addresses housing needs within the community, as well as regionally.
“I think the development is great,” Clemen said. “As somebody who operates in this space, the rents are in line with other build-to-rent townhomes, other high-end apartments that are in the area.”
Image courtesy: Lincoln Property Company
If you have a story idea, we want to hear from you!
