Housing Boom on the Horizon in Oswego
Mar 29, 2016 08:47AM ● Published by Shannon Antinori
Several homes are currently under construction in the Southbury subdivision in Oswego.
Just months after the Village Board voted to lower its building impact fees, Oswego is already seeing an increase in the number of building permits.
In November 2015, the Village Board voted to lower impact fees by $4,000 per home, reducing the cost of new construction to $19,000 per house from $23,000. The reduction was prompted by a joint study by the village and other taxing districts that receive the fees, including Oswego School District 308, Oswegoland Park District, the Oswego Public Library and the Oswego Fire Protection District.
The goal of the lower impact fees is to encourage growth and to kickstart stalled housing developments in the village.
“We have already seen a slight uptick in the number of permits pulled for single family housing,” said Village Administrator Dan Di Santo, adding that the number of permits for the first three months of this year is up about 50 percent from what the village saw during the same period last year.
He pointed out that winter is typically a slow season when it comes to building permits, and the true impact of the fee reduction will be more clear by next spring or summer. The lower fees could encourage developers to move forward with several previously proposed large housing developments.
Di Santo said Hummel Trails, a large development off of Woolley Road near the site of the proposed new Oswego police station, is due to go before the Village Board by the end of April.
The owner of the property is proposing increasing the project’s density by 78 housing units, for a total of 1,056 units. The request will go to the planning and zoning commission next month before heading to the Village Board for a vote.
Another large development proposed for the southwest corner of Route 30 and Wolf's Crossing Road, Hudson Pointe, also looks poised to move forward. Di Santo said village staff has been meeting monthly with Hudson Pointe representatives to work out details of an annexation agreement.
Hudson Pointe is proposing a mixed development made up of mainly single family homes, along with townhomes, ranch villas and a small apartment complex. Di Santo said the developer is looking to build between 970 and 1,635 units.
A third development known as Tuscany Station is proposed for the northwest corner of Orchard Road and the railroad tracks near the site of a possible future Metra station. The project calls for 481 units, including a mix of townhomes and single family homes.
Di Santo said the Tuscany Station developer has been involved in discussions with the village’s community development department but it’s unclear when the project could move forward.
"We expect Ashcroft 3 to have homes started this year, Hunt Club is in their final stages, and Churchill Unit 3 is nearing completion," he said.
According to Di Santo, the reduced impact fees are generating interest from other developers.
“We’re getting a lot of phone calls,” he said, adding, “We’re encouraged by these large developments kind of coming back to the table based on these fees.”
WHAT WILL ALL THIS NEW HOUSING MEAN FOR DISTRICT 308 SCHOOLS? CHECK BACK WITH ONLY OSWEGO NEXT WEEK FOR MORE ON THIS REPORT.