While developers approach local municipalities with their plans and drawings, attorney Vince Rosanova of Naperville deployed a different strategy at the Oswego Village Board meeting recently.
Specifically, he targeted Oswego School District 308.
Rosanova represented the Tuscany Station project slated to begin this spring, featuring 480 one and two bedroom apartments in 13 three-story buildings. Later single family homes will be constructed on 30 acres.
The Orchard Road property, north of the BNSF rail line, was annexed into the village in 2001, but has remained vacant farmland since.
The Oswego Village Board approved the housing plan with trustee Brian Thomas the sole no vote, and rezoning from M-One Limited Manufacturing and R-1 Single Family to R-4 General residence District and B-3 Commercial Service and Wholesale District.
In addition, Rosanova stated real estate tax revenues will generate close to $1.9 on a yearly basis, divided up among all taxing bodies. Different village permit fees, impact fee, water and sewer connection total nearly six million dollars.
Abby Properties LLC, an affiliate of Tuscany LLC, is the builder, led by Abel Martin of Plano, who has developed Grand Reserve, The Townes of the Kendall Marketplace, and Timber Glenn, all in Yorkville.
With four housing developments underway, Oswego could reach 40,000 residents in the next few years.
You can listen to Mark Harrington’s radio story by clicking below: