Schaumburg trustees Tuesday gave final approval to the nine-story apartment and retail building that will be the first component of the 30-acre mixed-used area called The District at Veridian on the former Motorola campus at the southwest corner of Algonquin and Meacham roads.
They also approved D.R. Horton’s proposal for 66 more rowhome units across 14 buildings further west on the Veridian property, where construction continues on 260 previously approved rowhomes.
Bob Burk, managing partner of UrbanStreet Group which is the master developer of Veridian, said the market called for more rowhomes where there is less demand for office space than when the overall redevelopment project was first conceived.
“That goes to the core of this development process,” Burk said. “It’s evolutionary. You’re witnessing a real-time evolution.”
But his own company’s focus is on the nine-story building it will construct itself, with 321 high-end apartments on the upper eight floors and 55,457 square feet of yet unnamed restaurant and retail tenants on the ground floor. Adjacent to it will be a five-story parking garage boasting complementary architecture.
“It’s a very big step forward for this development and our partnership with the village,” he added.
The $185 million “Main Street”-style development of The District, to which the village pledged $47 million in public funding through a tax-increment finance (TIF) district last year, will be divided into four phases or blocks.
The apartment building and parking deck are part of the first block along with a free-standing 26,000-square-foot grocery store for which final approval will be sought in a few months. But all are expected to be completed in early 2027.
Burk added that the start of working on other phases shouldn’t have to wait for completion of block one.
This year is also expected to determine the viability of converting a vacated Motorola office building that’s been left standing in the middle of the former campus to residential use. Schaumburg trustees only recently approved the village’s first such conversion of a five-story office building on Woodfield Road.
Redevelopment of Veridian has become a true public-private partnership with the village, and 2025 is expected to see the start of the second major stage of work on the 12-acre, city-style park at the heart of the 225-acre property, Schaumburg Landscape & Design Planner Todd Wenger said.