An Elgin developer will meet an application deadline for state financing for a downtown senior housing complex now that city officials have approved a concept plan for the project.
Endorsement by the City Council Community Development Committee of Leo Goldschmidt’s Batavia Commons redevelopment of the former junior high school property beat Monday’s deadline for submitting paperwork to the Illinois Housing Development Authority.
“We finally have a plan that they like,” said Goldschmidt, whose project has undergone several revisions since negotiations with the city began more than 18 months ago.
Committee Vice Chairman Ald. Wendy Lee said approval came after Goldschmidt agreed to reduce the number of units in the complex to 171 in order to reduce the proposed building’s fifth floor.
He also agreed to 50-foot building setback from Illinois Highway 31, to build the residential portion in one phase, redesign the parking lot and place any commercial space to be built in a separate building that fronts on Wilson Street.
Goldschmidt has until Oct. 31 to secure financing for the $15 million project. He said he is seeking about $12 million through the state development authority.
