After nearly a year of negotiation with Compasspoint Development, Barrington approved a redevelopment agreement for the “Golden Triangle” (top of photo) worth $17 million ready for village board approval. | Paul Valade/pvalade@dailyherald.com
By Steve Zalusky | Daily Herald
Barrington trustees Monday put the final touches on a redevelopment agreement for a mixed-use project on Hough Street between the Union Pacific and Canadian National Railway tracks.
The location is officially known as Redevelopment Area #1, but is also dubbed the Golden Triangle.
Joe Taylor III of Compasspoint Development plans to redevelop the former site of the Market Center building and a Volvo dealership at on North Hough Street. The $90 million project includes a four-story building, the Mylo, with 125 residential units and approximately 12,000 square feet of restaurant and retail space — Taylor said he is negotiating a high-end restaurant lease for 6,000 square feet.
It will also include the MotorCave Auto Suites, a place for car enthusiasts to keep and display their vehicles.
Read more here.
Related: “Barrington close to decision on $17 million incentive agreement for ‘Golden Triangle’ development,” “‘Now is the time to be in Barrington’: village serves up positive economic outlook,” “Barrington approves TIF for the ‘Golden Triangle’,” “Barrington moves closer to TIF for ‘Golden Triangle’,” “MotorCave Suites: For-sale personal auto museum showrooms and entertainment Spaces for Chicago area collectors,” “Barrington village manager gets 12.5% pay hike,” “Barrington-area leaders tout growth at annual economic summit,” “Barrington pins high hopes on Golden Triangle development,” “Luxury apartments, restaurants. What Barrington might do with its ‘Golden Triangle’,” “Apartments, storage for high-end cars proposed for downtown Barrington”
Leave a Reply