A proposed third phase of the Main Street Promenade, calling for 72 residential apartments and 14,200 square feet of first-floor retail space, would be the largest multifamily development in downtown Naperville if built.
Developer Retail Properties of America wants to put up the five-story building on the vacant lot at the southwest corner of Main Street and Benton Avenue, according to documents files with the city.
Its rental units would be marketed to “young professionals and empty-nesters,” described by the developer as “renters by choice.” There would have 32 one-bedroom units, 36 two-bedroom units and four three-bedroom units ranging in size from 680 to 1,315 square feet, documents said.
Amenities would include fitness areas, a swimming pool, a centralized courtyard with barbecue space and an internal parking deck.
At 59 feet, the size complies with the downtown district’s maximum height limit of 60 feet, according to city documents.
The project goes to Planning and Zoning Commission for review at its Wednesday night meeting. Retail Properties is requesting approval of a planned unit development, preliminary plat and several variances.
A parking variance would reduce the required parking ratio from 2.25 spaces per unit to one space per bedroom for the one-bedroom units, two spaces for the two-bedroom and three-bedroom units, and eight guest spaces rather than 18. The total of 120 spaces is 42 less than required under city ordinance.
Retail Properties is also asking for a floor area ratio variance and wants to have a 10-foot setback along the property line shared with the Benton Terrace condominiums. The increased setback, four feet more than required, would benefit the four-story condo building, developer documents said.
While the proposed building would have multiple access points, the primary vehicle entrance and exit for residents would be on Benton Avenue. The developer also wants to buy into the downtown parking special service area for the first-floor retail tenants.
A planned unit development, or PUD, previously approved for the property called for retail on the first floor and office space on the upper floors. Because no plans for that development were submitted, the Naperville City Council is allowed to revoke the existing PUD for failure to begin construction, city documents said.
City staff is recommending the developer’s requests be approved, saying the proposal is consistent with the recommendations made in Naperville’s Downtown Plan.