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New Developer to Start Construction on Unfinished Burr Ridge Subdivision

The Burr Ridge Village Board voted unanimously to amend development covenants to allow the Pulte Group to purchase the unfinished lots of the Savoy Club.

Construction will move forward on Burr Ridge's . The voted unanimously Monday to amend development covenants to allow the Michigan-based Pulte Group to purchase 45 of the stalled development's 52 lots.

At the village's last meeting on Jan. 9, the six residents who had purchased homes in the development before a foreclosure lawsuit was filed against the original developer, had .

The Pulte Group had made it clear that it intended to purchase the unfinished lots and finish the development as an age-targeted community. Mark Mastrorocco, a land acquisition manager for the Pulte Group, said the company wold not be able to move forward with the project if the Savoy Club was to be an age-restricted community.

Members of the Pulte Group met with homeowners on Jan. 19 in order to answer questions and address concerns. The Pulte Group agreed to take care of a for the Savoy Club without cost to the current homeowners.

"We have worked hard with existing homeowners on being on the same page," said Mastrorocco. "We look forward to working with the homeowners with this beautiful community and continuing it in a quality and successful fashion."

Trustee Al Paveza, who sat in for Mayor Gary Grasso at Monday's meeting said the village was looking forward to the completion of the subdivision, but wanted to make sure current homeowners were comfortable with the situation.

"We don’t want there to be any friction," said Paveza.

Ken Oestermeyer, treasurer for the Homeowners Association at the Savoy Club, said the homeowners association was comfortable with the purchase after having met with the Pulte Group on Jan. 19.

The four board members present at Monday night's meeting voted unanimously to move forward with the purchase.

"The six homeowners are very appreciative of the support the village has given us," Marty Whehner, one of the Savoy Club's six homeowners told the board after the vote.

Construction will begin with two units in the cul-de-sac on the left of the subdivision as one enters it from 79th Street.

The Pulte Group projects average sale prices for units to be between $700,000 and $800,000 with some homes being more than $800,000 with customization.

Hemendalll January 25, 2012 at 06:13 PM
So is it going to be Age-restricted/targeted or not?
Sabrina Wu January 25, 2012 at 06:47 PM
Thanks for your question, Dick. The development is going to be age-targeted, not restricted. The Pulte Group representative said they would not have been able to move forward with the project if it were age-restricted.

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