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Fox River Grove board approves MOU with Norwood Builders for five‑story Block B redevelopment
Summary
The Village Board approved a memorandum of understanding with Norwood Builders and Compasspointe Development for a proposed five‑story, mixed‑use project on Block B including 151 residential units, about 8,600 sq. ft. of retail, and 220 parking spaces; Trustees asked for continued communication during the approval process.
The Fox River Grove Village Board voted March 21 to approve a memorandum of understanding (MOU) with Norwood Builders and Compasspointe Development to pursue redevelopment of Block B between Illinois Street and Lincoln Avenue.
Administrator Soderholm told the board the village received five development proposals and staff negotiated an MOU with Norwood Builders and Compasspointe to secure a written commitment before the developer spends substantial funds on…
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