American Ventures is seeking a rezoning from the City of Elgin in order to construct a mixed-use project featuring retail, restaurant, and hospitality establishments. The proposed development will span 60 acres along U.S. 290 and is situated adjacent to Ascension Seton Elgin Medical Center. As the town of Elgin continues to grow with approximately 12,000 residents, this project aims to bring an estimated total of 349,000 square feet for retail space and another 31,400 square feet for hotel accommodations.
According to reports from Austin Business Journal , there has been interest expressed by various hotel and retail chains in leasing at this development site. American Ventures plans on initiating marketing efforts soon after obtaining the required rezoning approval from the city council later this year.
On its website , American Venture boasts its extensive experience managing over 15,000 units as well as acquiring an additional number totaling up to more than4 ,300 since their establishment back in2013 . Their focus lies primarily on new developments as well as value-add investments within multifamily & commercial real estate sectors.
The article “American Ventures Eyes Elgin for Mixed-Use Project” was originally published on Connect CRE .
