St. Francis & Harlem Ave. Redevelopment Information and Updates

Independence Ohio based developer Redwood (www.redwood.com) is working on the site at the southwest corner of St Francis and Harlem; the team is led by Paul DeKruiff, who lives in Chicagoland and grew up in South Holland. At this time the developer has not made formal application and their plans remain in flux while they investigate the suitability of the land for their purposes. Their current design has over 45 less homes then they originally contemplated, now at just under 125. Each home is between 1,294 and 1,620 square feet, and all are two bedrooms with two bathrooms, a two car garage, a pantry, a den, washer/dryer hookup, pantry, and a personal patio. Redwood is a long-term owner/manager that has never sold any of the over 13,000 market rate rental homes they built, and they use extensive screening criteria and active management procedures to deliver a high level of customer service, maintenance, as well as ensure a peaceful and quiet neighborhood. All interior roads they build are concrete and have 12-mile per hour posted speed limits with no parking on the roadways. They have received preliminary and/or final approval on other development sites in Lockport, Oswego, Crystal Lake, Volo, and Aurora.

For more information regarding their communities and homes, please click on the YouTube link below:

https://www.youtube.com/watch?v=BbyW876gKW8

To learn more about Redwood, please click the YouTube link below:

https://www.youtube.com/watch?v=yI5IBSSFLVM

They will be providing updates to the Township, County, and residents as they make progress. We will post those as they become available, however, do not hesitate to reach out to them:

Paul De Kruiff
pdekruiff@byredwood.com
312-371-3125
2280 White Oak Circle, Suite 100R, Aurora, IL. 60502

Community questions answered from Redwood - Update - 12/8/2021

Please find some additional information about Redwood’s residents and management policies:

• The maximum number of occupants per home is four. While there is no stipulation that all occupants must be related, all must be listed on the lease, and anyone over 18 must complete and pass a background screening check. Redwood does not allow exceptions to this policy and it is diligently monitored and enforced; this and all Redwood policies are compliant with all Federal Housing Administration regulations. Anyone found in volitation of a lease provision is subject to eviction. Their acceptance criteria and code of conduct standards are more robust than those covering typical HOAs or individual homeowners.
• The average number of occupants in Redwood’s portfolio of over 13,000 homes is 1.65 persons per home, with 1.5 cars. This is expected to continue with this new Redwood Neighborhood. Their portfolio is located in areas where the median income is both higher and lower then Frankfort Square.
• Redwood offers its residents flexible leasing options, ranging from 6 to 24 months. The 24-month lease offering is a rare offering in the industry, and Redwood has seen a very positive response from renters looking to stay in one place for an extended period of time.
• Based on Redwood’s current portfolio statistics, 70% of its residents are empty nesters, with an average age of 50.6 years old.
• Redwood does not accept Housing Choice Vouchers (f.k.a. Section 8) at any of its developments. Not only is it a matter of policy, their rents exceed the qualifying HUD income and rent limits for the areas they do business - that will include Frankfort Square. They do not accept, nor do they require, any forms of governmental assistance which would obligate them to provide rental subsidies. And Will County does not place any obligations or mandates on landlords to participate in affordable housing programs.

We know that Redwood selected this site because they believe they share your concern for maintaining the integrity of our community, as well as your desire for protecting the value of your homes. That is why they have very active management teams at every Redwood Neighborhood, rules and regulations, and a significant property maintenance program.

Paul DeKruiff
VP of Acquisitions