Downtown Transit-Oriented Development for Village-Owned Property at 2066 Ridge Road and 2024 Chestnut Road

The Village of Homewood is seeking proposals from qualified developers for mixed-use and multi-family projects aimed at redeveloping two downtown properties. The Village intends to utilize Village-owned property adjacent to the Village’s thriving transit hub to create two developments that combine residential and commercial uses, supporting the goals of transit-oriented development.This development opportunity includes two premier sites totaling almost 1.5 acres:2066 Ridge Road:0.46 acres (3 parcels, B-1 zoning)2024 Chestnut Road:0.88 acres (1 parcel, B-2 zoning)These sites are located immediately adjacent to the Village’s Metra/Amtrak/Pace transit hub and nearly $100 million in new downtown investments since 2023. These sites provide unique opportunities for transit-oriented development, which substantially improve the quality of life and performance of property development in the Village’s downtown.The Homewood Downtown Transit-Oriented Development Master Plan (adopted in 2024) identifies these properties as prime development sites to improve regional transit accessibility and fulfill the growing demand for housing and other uses in the Village’s downtown. Projects should promote improved housing choice, new commercial development and improvement of two large vacant properties in downtown Homewood.RFP Documents:Official RFP PostingFull RFP Application Guide- includes detailed property information, incentives information, criteria and submittal requirements2066 Ridge Road Property Information2024 Chestnut Road Property InformationDowntown Homewood TOD Area Property InformationAdditional Resources:Downtown Transit-Oriented Development Master Plan (prepared in partnership with Regional Transportation Authority (RTA))Downtown TOD Trade Area Market Demand Study (prepared by The Retail Coach)Downtown TOD Trade Area Demographics(prepared by The Retail Coach)Downtown TOD Psychographic Data and Market Information (prepared by The Retail Coach)