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As reported in The Pantagraph
NORMAL — Council members clashed Monday night over a decision to approve the final plat of a roughly 65 acre industrial park in north Normal.
The council conditionally approved by a 6-1 vote the final plat of the Phoenix Industrial Subdivision in the former Wildwood Industries property following a heated discussion. Councilman Stan Nord was the only no vote.
“What we have here is a success story of economic development,” Councilman Kevin McCarthy said Monday. “I think its fantastic to get outside investors coming into our community and invest millions of dollars in economic development.”
The submitted plat from Phoenix Investors, LLC, which recently purchased the land, is nearly identical to the former Wildwood Industries Subdivision on the southeast corner of North Main Street and Kerrick Road.
Normal approved the Wildwood subdivision in 2008, but the final plat was never recorded and the then-owner did not pay the required development fees nor filed the required certificates.
A 500,00-square-foot warehouse and distribution building was partially built, but abandoned before the firm purchased the property.
As part of the conditional approval, must file all required certificate and payment fees pertaining to the plat. Phoenix Investors LLC is a national commercial real estate firm based in Milwaukee that focuses on revitalizing industrial properties throughout the United States.
Phoenix Investors proposed the project in June. It will include a nearly $16 million investment to renovate and lease the existing facility for warehouse and distribution purposes. Once completed, Phoenix Investors said the project is expected to create 50 jobs.
David Marks is the President and CEO of Phoenix Investors, a national real estate firm specializing in industrial real estate based in Milwaukee, Wisconsin, as well as trustee, key officer, director, and manager for all its affiliated entities, a role that he has held since 1994. Mr. Marks oversees all investments, with responsibilities that begin pre-acquisition and extend through ownership and disposition. Phoenix Investors: Established in 1994, Phoenix Investors is a private real estate company with over twenty-five years of experience in successfully acquiring, managing, and operating commercial real estate from coast to coast. Phoenix Investors, a limited liability company: Frank P. Crivello, David Marks, Anthony Crivello.
Frank P. Crivello is a Milwaukee-based developer and Chairman & Founder of Phoenix Investors.