A new multifamily residential development slated for the vacant 7.2 acre site within the Barrington Square Town Center, 2300 W. Higgins Rd., was approved by the Village Board on Dec. 1.

Plans for the Grand Reserve at Hoffman Estates call for a two-building complex with a total of 335 luxury studio, one- and two-bedroom apartment units. According to developer Synergy Construction and Development, the Grand Reserve will feature a variety of indoor and outdoor amenity spaces, such as a pool, fitness center, shared offices, media rooms, a pickleball court, dog wash stations and covered parking. Construction on phase one will start in the first half of 2026.

The site, which previously housed a Menards store that closed in 2008, is in the Village's Higgins/Hassell Tax Increment Financing (TIF) District. Through a TIF agreement with the Village, which was also approved by the Village Board on Dec. 1, the Grand Reserve development is eligible for funding up to $8 million exclusively through funds generated by this project.

The Higgins/Hassell TIF was established in 2012 to address economic underperformance in the area. All increases in property tax value are reinvested back into the district to support development and redevelopment projects. Since its creation, the TIF has helped drive substantial economic activity, generating a 3:1 return on public investment. The Grand Reserve proposal is anticipated to achieve an even stronger 13:1 ratio with a $110 million projected investment from the developer and $8 million from the TIF. With several infrastructure and development projects already completed, the Higgins/Hassell TIF continues to improve the area’s long-term economic viability as the Village works with the property owner to fill the one remaining outlot.