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Warrenville council approves sale of 1.39 acres to Denver Capital for Old Town redevelopment
Summary
The Warrenville City Council voted to authorize a purchase-and-sale agreement with Denver Capital for 1.39 acres at Batavia and Warrenville Roads, advancing an Old Town mixed-use redevelopment after presentations by city staff and the developer.
Warrenville — The City Council on Feb. 17 approved an ordinance authorizing a purchase-and-sale agreement with Denver Capital LLC for 1.39 acres at the northeast corner of Batavia and Warrenville roads, a key piece of the Old Town redevelopment effort.
Community Development Director Emory told the council the city has cleared contamination, improved streetscape and prepared the parcel for redevelopment as part of the longer Old Town revitalization effort. "We are at a milestone moment with the Old Town redevelopment site number 2 project," Emory said during the council presentation.
Kevin Dermody of Denver Capital, who introduced himself as the company's representative, described Denver Capital's local experience converting aging commercial parcels into mixed-use developments. "We're not from Denver," Dermody said. "I grew up in Lisle, and all of our holdings are in the Western Suburbs of Chicago... We are very familiar with taking a site like this and creating a mixed use project." He said the firm hopes to break ground in roughly 12 to 18 months if due diligence and plan reviews proceed on schedule.
Council members pressed staff and the developer on several planning issues. Alderman Lockett asked about the project timeline and whether the developer intended long-term ownership; Dermody said his firm retains many completed projects and seeks long-term ownership. Emory said the portion Denver Capital is purchasing does not include floodplain land retained by the city; the city will retain riverfront areas for potential passive recreation. On tax-increment financing, Emory said the site is within the city's TIF district but that there is no TIF request attached to this transaction.
After questions, Alderman Lockett moved to pass the ordinance authorizing execution of the purchase-and-sale agreement and the council approved the ordinance by roll call.
The agreement does not immediately transfer ownership. Emory emphasized that transfer is conditioned on the developer meeting milestone approvals, including plan reviews and any required zoning or permit approvals. The council and staff said public hearings and plan commission review will follow as part of the formal land-use process.
Next steps: Denver Capital will complete due diligence and submit formal plans to the city; the plan commission will hold a public hearing and recommend action to the council for final approval.
