Berwyn Prompts Creation of New Gateway at Cermak & Harlem

BERWYN, Ill., Oct. 5 /PRNewswire-USNewswire/ -- Berwyn's Cermak Road, regarded as Berwyn's Main Street, has recently been undergoing a renaissance. In 2008, new medians and planters were installed to beautify the strip. More recent improvements include a facelift to the streetscape and infrastructure as well as a commitment from Cermak Plaza to revitalize its parking lot and facade. Earlier last week, Berwyn's redevelopment efforts along the Cermak Road corridor took additional steps forward when the Berwyn City Council approved a redevelopment agreement between the City and Berwyn Gateway Partners (BGP), which will result in a development that will feature new restaurants and retailers at the northeast corner of Cermak Road and Harlem Avenue.

The Berwyn Development Corporation (BDC) envisioned this project as a western "gateway" to the City of Berwyn. To this end, the development will be constructed of high quality materials and will showcase iconic architectural elements. The project intends to create a recognizable landmark that will welcome visitors to the community.

Mayor Robert Lovero praised this newest effort. "I am delighted to see the redevelopment of this vital site in our community. The key intersection generates terrific traffic counts, has great visibility, and excellent retail and restaurant opportunities. This project will be the keystone in our dedication to revitalizing Cermak Road."

Through the efforts of the City and the BDC over the last four years, one and a half acres of land were assembled in order to promote the redevelopment of the site by private investors. Earlier this spring, the BDC sent out a Request for Qualifications to reputable, local and national development firms to present their vision for the site's redevelopment. Berwyn Gateway Partners, a team comprised of Keystone Ventures, J&P Properties, Bern Realty, and Hague Architecture, emerged from a stringent evaluation and interview process as the top candidate. The redevelopment agreement was finalized in September after the City of Berwyn purchased the final parcel involved at the project site.

Tim Hague, president of Keystone Ventures, is energized about the opportunity to play a role in Berwyn's commercial revitalization. "The northeast corner has a lot of interest from national restaurant chains and retailers due to the BDC's efforts to generate interest for the site," Hague stated. "Our development team is already negotiating with potential tenants that want to be part of this project," he added.

The target for completion of construction is the second quarter of 2012. The timeline is dependent on the ability to secure leases for each space. BDC President Paul Zimmermann is eager for BGP to hit that target. "If the markets smile on us and our tenants are positioned to move forward, we could have the shopping center online by the fourth quarter of 2011 in time for the winter holiday season. The momentum has been great up to this point," Zimmermann noted.

The BDC has been at the forefront of planning for the revitalization of the intersection. BDC staff negotiated with property owners to purchase the parcels, assembling enough acreage to develop a commercial strip center large enough and with sufficient parking to attract national "quick casual" restaurant chains. At last year's International Council of Shopping Centers Chicago Deal Making trade show, several City and BDC representatives scouted meetings to discuss the site and its redevelopment potential. As a result, the BGP team have found more interested tenants than can fit on the site.

Anthony Griffin, Executive Director of the BDC, remarked, "The redevelopment project at Cermak Road and Harlem Avenue is yet another example of a public-private partnership that is created to not only improve Berwyn's economy, but, more importantly, strengthen Berwyn's quality of life."

Additional information on the redevelopment project can be obtained through the Berwyn Development Corporation at (708) 788-8100 and www.berwyn.net.

The BERWYN DEVELOPMENT CORPORATION (BDC) is a public-private partnership with the City of Berwyn that provides economic development and Chamber of Commerce services to all segments of the Berwyn community. The BDC is a not-for-profit membership organization that serves over 300 business and individual members. The BDC focuses its efforts on those activities that will improve the overall climate for local businesses and residents, in addition to encouraging the development of new commercial venues and employment opportunities. The BDC continually strives to develop new programs, services and events that promote Berwyn businesses and the community.

SOURCE Berwyn Development Corp