A $315 million redevelopment plan for downtown Waukegan — covering 10 parcels of land containing 700 residences, 70,000 square feet of commercial space and a park — will start with the renovation of two classic buildings if the developers clear their initial hurdles.
The Waukegan Community Development Partnership hopes to purchase the former YMCA on Clayton Street as well as a one-time restaurant on Genesee Street, and get city approval to turn them into multi-use buildings where people can live and shop.
The 11-person development team with ties to the community and the real estate industry presented its plans during a special meeting of the Waukegan City Council Thursday at City Hall, giving officials a glimpse of the group’s vision.
Lowell Jaffe, the lead developer of the Jaffe Family Community Development Fund, said the goal of the overall project is to repopulate downtown Waukegan and create an environment where amenities are within walking distance.
“We have to be the driving force to bringing the businesses, and bring the new residential population,” Jaffe said after the meeting. “It’s not happening on its own. There’s a large daytime population. We want them walking around, shopping, going to restaurants.”
Sam Yingling of New Century Real Estate and another member of the development team, said the group began meeting with city officials more than a year ago creating something they felt would work for the community.
“There’s a lot of potential to add new businesses,” Yingling said at the meeting. “There’s a lot of potential to further redevelop existing businesses. One of the challenges we’re facing is there just aren’t bodies in the downtown.”
Some of the buildings will be new, like a 200-unit apartment project with a pair of 10-story towers. He said other projects will involve the renovation of existing buildings. Some will be historic structures with tradition, like the former YMCA..
“There are so many historic assets in the downtown,” Yingling said. “There is tradition. There’s so much potential to restore downtown Waukegan to what it was. We want to create a pedestrian-centric downtown where people are out walking around.”
With an ambitious plan to remake downtown Waukegan, he said the group has two pieces of property under contract to initiate the project. One is the former YMCA at the northwest corner of Clayton and County streets, across from the Waukegan Public Library.
A historic landmark in the city, Yingling said the one-time YMCA will be redone with 19 apartments and 6,700 square feet of commercial space, which could include retail stores. A bank will eventually be a necessity in the overall development. The developers will pay $3.7 million, and are seeking $1.8 million in some form of assistance from the city.
A second project under contract is a one-time restaurant with apartments on the upper floors at 38 North Genesee St. Yingling said he hopes to have an eatery on the ground floor, and six apartments above. There is a $1.65 million price tag, with hopes of $850,000 from the city.
Before the development team acquires the two properties, Noelle Kischer-Lepper, the city’s director of planning and economic development, said it must go before the Planning and Zoning Commission for a conditional use permit and then the appropriate City Council committee for a redevelopment agreement.
Once the partnership makes its presentations to the commission and committee, it will then seek approval for the two projects from the full City Council.
One of the partners is Mikki Schuk. He owns seven fully rented luxury apartments in downtown Waukegan he renovated over the last two years. He is also a part owner of the vacant, nine-story Waukegan Building at the southwest corner of Genesee and Washington streets. He hopes to renovate it into a high-end project.
There is a parking garage near the Lake County Courthouse and Administration Building which was once a park. Yingling said the partnership hopes to acquire the property from the county and replace the structure with what would be called Courthouse Square Park.
