Canopy Hill is a 160-acre multi-use housing development along U.S. Highway 45, across from Union Grove High School. The development consists of 188 single-family lots, 60 duplex two-story condominium units and 8 ranch condominium units (“The Meadows”), 50 assisted living units, 60 multi-family residential units (“The Oaks”) and 18 acres of undeveloped parkland. The total project is anticipated to have a valuation of $112.8 million. The developer broke ground in summer 2021. To view a Frequently Asked Questions page relating to the Canopy Hill development, click here.
Project Economics/Highlights
- The ranch townhomes and multi-family buildings will be constructed within Tax Incremental District (TID) Number 4, generating approximately $9.4 million in tax increment that will help reimburse debt incurred from the water and sewer utilities in 2008.
- 163 single-family lots, 60 duplex townhome units and the assisted living community will be developed in a newly created TID #7. The developer will not receive any up-front incentives but will be reimbursed for the costs of infrastructure from future tax increment generated by the development (up to $22.4 million in reimbursement of verified infrastructure costs).
- 25 single-family lots will be developed outside of any tax incremental district, generating approximately $10.6 million in assessed value that will go directly onto the tax roll.
- The developer will donate 18 acres to be used for public parkland that will include a Village-approved trail system constructed by the developer.
- The development will contribute approximately $1.9 million in impact fees and connection charges to support future utility needs and improvements to parks, library and fire department.
- The development was conditioned upon Village approval of a storm water management plan and traffic impact analysis.
- The construction of the development will take place with a phased buildout over the course of approximately eight years.
Project Plans
- Single-Family Homes Site Plan – Phase 1
- Condominium and Multi-Family Site Plan
- Stormwater Management Plan
- Multi-Family Schematic Design
- Traffic Impact Analysis
More Information
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