A 40-acre apartment and retail center proposed in Glenview will have a positive financial impact on the village, two school districts and park district. Teska Associates, hired to study the mixed-use project by the developer GlenStar at the northwest corner of Willow Road and I-294, stated village government would annually receive more than $1 million in property tax revenues.
The development on this site in Glenview includes the new headquarters of the Deerfield-based Astellas Pharma US Inc., the Japanese pharmaceutical maker, which will move in early summer. Construction on the $150 million glass office towers started in April 2010.
In addition to village revenues, the annual surplus to West Northfield Distrct 31 and Glenbrook High School District 225 could be $4.2 million and $3.9 million, respectively. District 225 Superintendent Michael Riggle said the anticipated tax dollars would be “sizeable” to the budget, currently taking in $99 million in revenues.“It solidifies our tax base more, especially after 2008 when a lot of shifting was going on due to economic difficulties,” he said.
The proposed development would bring in an estimated 512 residents. That estimate supposes includes 14 students in kindergarten through eighth and five high school students. Glenview Park District would net $1.2 million in property taxes, while Glenview Public Library would receive $630,000. Read More