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Developer returns with scaled‑back multifamily plan on Tri‑State Parkway; board generally receptive
Summary
Fiduciary Real Estate Development presented a revised multifamily proposal for a 16.7‑acre parcel on Tri‑State Parkway on May 7; the developer reduced density, removed three‑bedroom units and increased setbacks, and the Planning & Zoning Board offered generally positive informal feedback.
Fiduciary Real Estate Development returned to the Village of Gurnee Planning and Zoning Board on May 7 seeking informal guidance for a proposed rezoning and multifamily project on a 16.7‑acre parcel along Tri‑State Parkway between Grand Avenue and Cemetery Road.
Anthony “Tony” DeRosa, principal with Fiduciary Real Estate Development, described a revised plan that the team said would rezone the site from O‑2 (general office) to R‑6 (multifamily residential) and build a multifamily community on the parcel’s buildable portion. DeRosa said the overall site is about 16.7 acres, with roughly 6–7 acres described as buildable because of an on‑site stormwater facility and an adjacent wetland area: "The orange shaded area on the right, that's what's actually buildable on the site. It's about 6 to 7 ish acres," DeRosa said.
DeRosa said the…
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