Comment on Orland Park may create new TIF for downtown triangle, groundbreaking possible next month

Orland Park may create new TIF for downtown triangle, groundbreaking possible next month

The development of Orland Park’s long-planned downtown would get a big lift from an economic development tool used throughout the south and southwest suburbs, and plans for which are being advanced by village officials. It involves creating a fresh tax increment financing district focused on what is generally referred to as the Main Street Triangle, northwest of La Grange Road and 143rd Street. The village owns seven properties spread over 9 acres, and has been working for more than two years with an Orland Park-based firm Edwards Realty, which is proposing more than 140,000 square feet of commercial and office space and a larger park in the center of the site. The development would be situated around the Ninety7Fifty on the Park apartments, University of Chicago Medicine Center for Advanced Care, a parking garage and the 143rd Street Metra station. Mike Nolan/Daily SouthtownPlans for a new tax increment financing district in Orland Park’s proposed downtown development are advancing.

 

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