CASEYVILLE - The village of Caseyville will soon be the recipient of a massive residential and commercial development.
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A village with a population of 4,300, Caseyville is welcoming a 480-acre, $400 million development by Sacramento-based Sport Choice LLC. A total of 625 residences - a combination of ranch-style and two-story villas starting at $240,000 and homes from $300,000 to $1 million - will adorn the village's rolling landscape, according to Michael Egan, president of Caseyville Sport Choice LLC, the subsidiary leading the effort.
The development will span the area between Illinois Route 159 west to Illinois Route 157. Egan hopes to break ground in April and complete in five to 10 years.
In addition to the residential layout, approximately 280,000 square feet of retail space - including a grocery store within walking distance of the homes - is part of the site plan.
"The Route 159 entrance into Caseyville will be the main entrance to this development and where the commercial portion will be," said appointed village treasurer Rick Casey. "We figure the entire development, when completely occupied, will add a third to our existing population."
Professionals who work in St. Louis and are ready for a quick commute are the anticipated future residents of Caseyville, Egan said. The village is a five-minute drive from Interstates 55/70, five minutes from Illinois 255 and also five minutes from Interstate 64.
Not only will the new development add people to Caseyville, it will significantly augment the small municipality's property tax revenues, Casey said.
"We're looking at a property tax increment right now of $86 million," he said. "The base property tax now for whole development is $1 million. That will eventually go up to about $87 million. It's unbelievable."
The development is within a tax increment-financing district that was established eight years ago, when the community planned on welcoming a golf course but the project never became a reality.
"We've got our TIF agreement with Caseyville Sport Choice LLC and have structured it so that all our taxing districts are still going to get some money before the project is completed," Casey said.
The planned golf course project was what inevitably linked the California-based developer with the small Southwestern Illinois community.
"Originally, the project was labeled to include a golf course," Egan said. "Phoenix-based architect Bill Phillips was working with Caseyville on a golf course. Our company had interviewed him about doing another project for us. But what happened was that since Caseyville's original TIF was established in the late 1990s, two other premier courses - Stonewolf and Far Oaks - came on the scene within 10 miles of Caseyville. Bill mentioned to us that the golf course project in Southwestern Illinois was no longer on the boards, but that we (Sport Choice) might want to consider contacting the village about a residential development."
Egan said the majority of individuals who opt for buying a home site in a golf course development are not regular golfers.
"Between 4 percent to 7 percent of them typically play golf. Most people moving to a golf course are attracted to the open space and the park environment. This site in Caseyville would have made a premier golf course, but we're creating a residential and commercial community with a greenway system that meets these needs. With the recreational fields, 150 acres of open spaces and roughly 100 additional acres in water features, the development will total close to 550 acres when it's all said and done. We're committed to keeping the trees and retaining the natural beauty that has existed there for years."
St. Louis
A village with a population of 4,300, Caseyville is welcoming a 480-acre, $400 million development by Sacramento-based Sport Choice LLC. A total of 625 residences - a combination of ranch-style and two-story villas starting at $240,000 and homes from $300,000 to $1 million - will adorn the village's rolling landscape, according to Michael Egan, president of Caseyville Sport Choice LLC, the subsidiary leading the effort.
The development will span the area between Illinois Route 159 west to Illinois Route 157. Egan hopes to break ground in April and complete in five to 10 years.
In addition to the residential layout, approximately 280,000 square feet of retail space - including a grocery store within walking distance of the homes - is part of the site plan.
"The Route 159 entrance into Caseyville will be the main entrance to this development and where the commercial portion will be," said appointed village treasurer Rick Casey. "We figure the entire development, when completely occupied, will add a third to our existing population."
Professionals who work in St. Louis and are ready for a quick commute are the anticipated future residents of Caseyville, Egan said. The village is a five-minute drive from Interstates 55/70, five minutes from Illinois 255 and also five minutes from Interstate 64.
Not only will the new development add people to Caseyville, it will significantly augment the small municipality's property tax revenues, Casey said.
"We're looking at a property tax increment right now of $86 million," he said. "The base property tax now for whole development is $1 million. That will eventually go up to about $87 million. It's unbelievable."
The development is within a tax increment-financing district that was established eight years ago, when the community planned on welcoming a golf course but the project never became a reality.
"We've got our TIF agreement with Caseyville Sport Choice LLC and have structured it so that all our taxing districts are still going to get some money before the project is completed," Casey said.
The planned golf course project was what inevitably linked the California-based developer with the small Southwestern Illinois community.
"Originally, the project was labeled to include a golf course," Egan said. "Phoenix-based architect Bill Phillips was working with Caseyville on a golf course. Our company had interviewed him about doing another project for us. But what happened was that since Caseyville's original TIF was established in the late 1990s, two other premier courses - Stonewolf and Far Oaks - came on the scene within 10 miles of Caseyville. Bill mentioned to us that the golf course project in Southwestern Illinois was no longer on the boards, but that we (Sport Choice) might want to consider contacting the village about a residential development."
Egan said the majority of individuals who opt for buying a home site in a golf course development are not regular golfers.
"Between 4 percent to 7 percent of them typically play golf. Most people moving to a golf course are attracted to the open space and the park environment. This site in Caseyville would have made a premier golf course, but we're creating a residential and commercial community with a greenway system that meets these needs. With the recreational fields, 150 acres of open spaces and roughly 100 additional acres in water features, the development will total close to 550 acres when it's all said and done. We're committed to keeping the trees and retaining the natural beauty that has existed there for years."
St. Louis
