Mount Prospect Mayor Arlene Juracek highlighted ongoing downtown residential development and the groundbreaking of new police and fire stations in her annual State of the Village address Thursday to the Mount Prospect Chamber of Commerce.
Delivering her speech by video because she was not able to attend the luncheon, Juracek said the village finished last year on solid ground.
"We continue to build on that foundation, and are energized by the momentum," Juracek said.
More than 400 new residential units in the village's downtown are underway or awaiting approval. That includes the 20 West Apartments, a six-story apartment building and restaurant on the site commonly known as Busse Triangle, and the 12-unit row house development called Park Terrace at 15-19 N. Elmhurst Ave.
Meanwhile, the village soon will be considering approval of two other major residential developments: Central and Main and the Maple Street Lofts, a public-private partnership with developer Nicholas and Associates that would include an eight-story luxury apartment building, row houses and retail space at 215-225 E. Prospect Ave.
Juracek said she recognizes that some residents are worried about the changes in the village but predicted that retail development will follow the new housing
"It is necessary that our economic policies stay current, that we respond to the pulse of the market, and that we examine how population and generational shifts require us to adapt to new paradigms in how people live and work," Juracek said.
Related to the development of downtown is the village's decision to relocate its police and fire headquarters. The village board approved a nearly $40 million bond issue in September to finance construction of the new facilities.
The village is building a new police station in a former industrial building at 799 Biermann Court. The new fire department headquarters will be created out of a former bank building at 111 E. Rand Road.
The relocation of the two stations will allow for the redevelopment of prime real estate at Maple Street and Northwest Highway, Juracek said.
While the property tax levy remained flat last year for the first time since 2010, the village did spend about 29 percent more than the previous year in its operating and capital budget to pay for the police and fire infrastructure.