Developer looks to bring corporate campus to Algonquin

A Missouri-based development company is looking to create a new corporate campus on the southwest corner of Longmeadow Parkway and Randall Road.

The proposal from NorthPoint Development currently includes five separate buildings for this property, with tenants who would be phased in over time, Algonquin Community Development Director Jason Shallcross said.

Commonly referred to as part of Gaitsch Farm, the property is about 142 acres, according to village documents. In the northeastern corner sits a 13.6 acre out-lot parcel zoned as commercial, which would remain even if the corporate campus is approved by the Algonquin Village Board.

No official tenants are set to move into the space right now, but future inhabitants of the space could be anything, including a business headquarters, an industrial manufacturer or logistics facilities, Shallcross said. E-commerce, assembly, warehouse and research development uses are possible, as well.

“It’s too far out in terms of getting the property entitled and pulling building permits and getting buildings upright to get tenants,” Shallcross said. “But that would be something that they would work on, should the project be approved.”

NorthPoint Development will need to take a few more steps before this approval is given. At a June 15 Committee of the Whole meeting, developers presented a concept plan to Algonquin’s Village Board. No action was taken by the board, but Shallcross said trustees gave feedback on the development.

“They’re going to take the feedback that was provided at the Committee of the Whole meeting, and then they are going to tweak their plans according to that feedback, and then they are going to submit for a preliminary [planned unit development] approval,” Shallcross said.

On the west side of the property, along Huntley Road, plans include several walking paths and a new interior roadway system that would provide access to the site off of Huntley, Randall and Longmeadow roads. Other amenities included could include an exterior “meet and eat” area, patios, and the creation of a “Green Corridor” in the southern terminal to further naturalized areas in the village. Super-charging stations also could be considered.

Northpoint Development employees involved in the corporate campus’ creation could not be reached for comment.

The new corporate campus could bring anywhere from 500 to 1,000 new permanent jobs, according to a memo from village staff to the village manager included in the Committee of the Whole meeting’s agenda packet.

NorthPoint Development has requested tax increment financing, or TIF, assistance for the corporate campus.

TIF districts give municipal governments the option to earmark property tax revenues generated within the district for improvements in the community that will help foster economic progress and job creation. They typically are done for areas where economic growth has been blighted and where there is a need for development or redevelopment.

Village staff is working with NorthPoint and Algonquin-based Community School District 300 to make sure all parties agree on the use of TIF funds to support the project, according to the memo.

A TIF district does not currently exist in this area, Shallcross said.

The Village Board will be asked to approve an ordinance allowing village staff to begin exploring the possibility of establishing one at its next regularly scheduled Village Board meeting, which is set for 7:30 p.m. July 6 at the Ganek Municipal Center.

“Any incentive request would be approved at the time of project approval, and it would also be assuming support from any effective taxing district,” Shallcross said.