Downtown and Corridor Redevelopment

In a tough economic climate, how to you jump-start redevelopment efforts? The Village of Olympia Fields and the City of Chicago Heights are focusing on cooperation as the key to mutual success. Joint public meetings were held to get residents from both communities engaged and talking about what they would like to see happen in the area. Property owners were solicited to serve on a steering committee to guide development of the plan, and asked to provide a financial contribution to assist in funding the plan. Key tenants like Jewel and Currie Motors were brought in to provide their insights and clarify their short and long-term strategies.

The results? Deals are getting done. Property owners are talking to each other and exploring consolidations and relocations that will benefit tenants, investors, and both municipalities. The Village of Olympia Fields has retained Teska to explore creation of a TIF to assist in project financing. The City of Chicago Heights is negotiating a deal for reuse of a long vacant grocery store. Residents of both communities are looking forward to potential gateway enhancements at the Lincoln Highway/Western Avenue intersection.