Plans for the huge new Irongate golf course and housing development in Elgin have begun the approval process.
The City Council on Wednesday unanimously approved a pre-annexation agreement sought by U.S. Frontier Development Corp. of Oakbrook Terrace. The 733-acre property is not yet contiguous to the city.
The developers estimate the completed project would have a market value of $329 million and raise the assessed valuation of Elgin by about 16 percent, according to Bob Malm, assistant city manager.
U.S. Frontier has strong ties to a golf course development company owned by company president Toru Komiyama`s family in Japan, and Irongate would be built with ”overseas money,” Komiyama said.
Plans call for a championship-caliber 27-hole golf course and other recreational facilities, 6 acres of commercial development, and 785 housing units ranging from 4-acre estates to townhouses.
