The Downtown Plan’s Catch-22

For the past few years the village and its consultants have been working on a plan to “revitalize” the downtown area. This plan advocates among other things four story condominiums along Glenview Road.
All the downtown plans are driven by the economic models developed by the village's consultants. Each block of the downtown has a preferred use based on these models.
In these plans the consultants state that the Dominick's parcel was "the subject of a significant amount of and analysis during the planning process” . The economic model for the Dominick's parcel has an estimated acquisition cost of $ 4.489 million dollars.  The village is now paying $6.5 million (they have an appraisal for $9.4 million ) for the property. The bottom line is not what the village is paying for the property but that the economic models used to drive the downtown process might, in light of this transaction, be wrong. If that is the case then the downtown development will need more density than it already has