A City Council vote Tuesday night paves the way for a final vote in two weeks to create a new commercial and residential development near the city’s MetroLink station.
All 10 Council members approved the first reading of a proposed tax increment finance district that would be established along Illinois 161 near the intersection at Lincoln Trail. Fairview Heights Economic Development Director Mike Malloy said the proposed development calls for a building to house a commercial tenant on the first floor and residential space on the second and third floors.
“What we’re providing to the potential developers is a four-phase project,” Malloy said. “The first phase is involving the entry way off (Illinois) 161, the ground level, for commercial development, which would be convenience oriented, and the second or third stories would be apartments and condos basically for individuals so they can be adjacent to the MetroLink station and can utilize light rail.”
Malloy said the proposed project does not include a planned business industrial park to be located across Illinois 161 behind the neighboring Arrowhead Building Supply, which opened last year.
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With the unanimous vote of support after the first reading on Tuesday night, Malloy said he anticipates the tax increment finance district will gain final approval in two weeks, on June 16, at the next Council meeting.
Contact reporter Will Buss at firstname.lastname@example.org or 618-239-2526.