Board Approves MOA for Triangle Development

Board Approves Memorandum of Understanding for Downtown Main Street Triangle
Posted on 03/17/2021

Orland Park Village Board Approves Memorandum of Understanding for
Downtown Main Street Triangle Mixed-Use Development

 

Orland Park, IL (March 17, 2021) – Following Village Board approval of a Memorandum of Understanding (MOU) and Consulting Agreement with Edwards Realty Company, the Village of Orland Park took the next step in making the vision of a transformative, mixed use development for the Downtown Main Street Triangle District, a reality. The Village and Edwards Realty Company will now focus on finalizing a development agreement.

 

“I am thrilled we have agreed to this partnership with Edwards Realty Company to develop the Triangle, a project that began at the turn of the century.  Being a local developer and Orland Park residents, Edwards Realty Company understands what will make this project successful in the eyes of our residents,” said Mayor Keith Pekau. He added, “This important step kicks off the process of engaging the community to create a mixed-use development that will be a go-to destination in Orland Park. We look forward to the future of this area where residents and visitors will have greater access to retail, entertainment and dining opportunities.  I am confident that our partnership with Edwards Realty Company will result in outstanding results for the Main Street Triangle area.”

 

The Downtown Main Street Triangle District is situated west and northwest of 143rd Street and LaGrange Road intersection. The District is anchored by the 143rd Street Metra Station and is unique in the Chicagoland region as it is wholly Villageowned, master planned, zoned, and primed for development.

 

“We have been excited about this project from Day 1 and look forward to working closely with the Village to develop the Downtown Main Street Triangle site,” said Ramzi Hassan, President of Edwards Realty. “Our collaborative approach will take into consideration input from the community and other key stakeholders and set a new standard for offerings available to visitors, residents and businesses in the Orland Park community.”

 

Edwards Realty Company’s vision for this development is to create a pedestrianfriendly and economically-vibrant place that embraces mixeduse retail, commercial, office, entertainment and residential development. This development will build upon the remarkable success of recent developments in the area, including:

 

  • Orland Park Crossing specialty shops (owned by Edwards Realty Company)
  • Mariano's Fresh Market
  • Ninety7Fifty on the Park, a mixeduse building with 295 luxury apartments, retail space, and structured parking
  • University of Chicago Medicine Center for Advanced Care, a 4story medical office building with first floor pharmacy store (CVS)
  • Residences of Orland Park Crossing, a 231unit residential development
  • 500+ space public parking structure, with 12,000 sq. ft. of first floor commercial space

 

“The Triangle project represents a key site and development that the residents of Orland Park deserve,” said Edward Hassan, Chairman and Founder of Edwards Realty Company. “This innovative, mixed-use project will help make the Village’s vision of attracting world-class companies contributing to the overall prosperity of the Village a reality. We are excited that Edwards Realty can help fulfill this vision.”

 

Under this MOU, the Village of Orland Park and Edwards Realty have twelve months to negotiate provisions of a development agreement. In that time, land, infrastructure, public improvements, financing options, a master plan, project milestones, timeline and public outreach will be discussed.

 

About Edwards Realty Company

Edwards Realty Company is a leading real estate investment, development and management firm with three decades of experience investing in communities. Over the past 30 years, Edwards Realty Company has developed a diverse portfolio of mixed-use properties across the Midwest. Their indoor/outdoor centers are “Centers of Attention” in their respective neighborhoods and represent an innovative convergence of community, compassion, commitment and commerce as evidenced by the tenant mix and vibrant events and activities such as PopLocal. Edwards Realty Company invests, develops and manages its properties strategically to ensure they become part of the fabric of the communities in which they are located. Headquartered in Orland Park, their property portfolio includes the Orland Park Crossing, the Burr Ridge Village Center, and The Boulevard St. Louis.

 

Downtown Main Street Triangle Concept Images

 

triangle

 

triangle

Contact:

Nabeha Zegar

Communications and Marketing Manager/PIO

nzegar@orlandpark.org       

###