Greenstreet Ltd. — Development, Brokerage, Consulting

Enos Park Revitalization Plan

Project Details

Located immediately east of downtown Springfield, Illinois, and adjacent to the Mid-Illinois Medical District, Enos Park is a tree-lined neighborhood filled with Victorian, Italianate, and Queen Anne-style homes that have been plagued by dilapidation.  The Enos Park Neighborhood Improvement Association – assisted by the team of Mansur Real Estate Services, Inc. and The Lakota Group – has adopted a master plan to redevelop the neighborhood in four phases over 10 to 20 years. The $45 million plan includes public right-of-way improvements, “Main Street” improvements, a cultural center, and a housing improvement program for the neighborhood’s 459 existing homes.

As a subcontractor to Mansur Real Estate Services, Greenstreet drafted specific, actionable implementation strategies for the Enos Park Master Plan.  Topics included: identification and analysis of local, state, and federal financing sources; organizational strategies, including information on forming a community development coalition (CDC); principles for design and development guidelines; a public property acquisition and land bank program; an infill development strategy; an owner-occupied rehabilitation incentive; a demolition program; a list of tax increment financing (TIF) district spending priorities and infrastructure financing strategies; potential synergies with the Mid-Illinois Medical District; historic preservation policies; New Market Tax Credits (NMTC) opportunities; and an employer-assisted housing strategy.