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Wednesday, April 21, 2010
RANDHURST WATCH: WORK ON TIME, UNDER BUDGET
The man heading up redevelopment of the Randhurst shopping area in Mt. Prospect anticipates the cost of the project to come in 5%-10% ($9.5 million-$19 million) under budget when work is completed around this time next year.
That's because recent dry weather and construction companies signing on at lower rates are keeping costs down, according to James Conroy, director of development for Casto Lifestyle Properties.
The schedule for the estimated $190 million lifestyle center that will feature approximately 200,000 sq. ft. of restaurant and retail space remains on track, Conroy said.
Conroy said work his crews have conducted on the new 42,000 sq. ft. Sports Authority is substantially completed. Workers will now step in and start interior work beginning May 1. Completion is expected the first week of August. The store will be located on the former Steve and Barry's site.
The construction contract to build the new 50,000 sq. ft. AMC movie theater has been awarded to Graycor Construction Co. Conroy said construction should begin around May 7 with a groundbreaking ceremony.
The new state-of-the-art digital facility will feature 2,000 seats and 12 screens and be located near Jewel diagonally facing Rand and Elmhurst roads.
Construction for the center's main seven buildings has been awarded to Evanston-based G.A. Johnson.
"Construction should hopefully begin in the next seven to 10 days as soon as permits are issued," said Conroy. Those seven buildings will consist of 50 to 60 stores.
Bids to construct a new Hampton Suites hotel is going out this week and Conroy hopes by the end of May a contract will be awarded to the lowest bidding company to construct the four-story, 120-room, 60,000 sq. ft. building.
"Once a contract has been awarded for the hotel, that will mean most of the project's first stage will be done and under construction by that point," said Conroy. "Because we already completed the underground parking, we will be in position to start constructing the hotel immediately. I expect by the first week of June people will be able to start seeing steel columns go up for the hotel."
Conroy said it will take about a year for construction to be completed. The hotel will feature retail on the first floor and hotel rooms on the other three floors.
Within the next one to two months, Randhurst and Mt. Prospect officials expect a flurry of activity regarding signed leases to occur.
Motorists driving by the site now along Elmhurst Road will see large piles of dirt that has accumulated from crews digging up the ground to install sanitary sewers. Conroy said within the next 30 to 45 days those piles should be removed.
In regards to material that has been recycled when the former mall was demolished, Conroy said approximately 90% of it has been re-used and of that 60 to 70% has been or will be put back into the new lifestyle center.
"That's another way you save money," said Conroy.
Other projects occurring that should be completed soon include a drive-thru pharmacy on Jewel's south end and interior renovations at Carson Pirie Scott.
Conroy said the pharmacy should be completed in the next 60 days.
In regards to Carson's renovations, the interior basement has been completed, along with the second floor. Renovations on the first floor are ongoing and should be completed by this fall.
"The purpose of these renovations is to bring the store up to date and have it coincide with the new center," added Conroy.
By RICHARD MAYER Assistant Managing Editor ~ Journal Online
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