A new chapter began in the life of Stonebridge late last week when California-based SunCal became the development’s new owner, taking over from Stonebridge Lake Bluff LLC.
The Lake Bluff Village Board of Trustees recently voted to lift the development’s 55-plus age restriction. On Sunday, Trustee President Christine Letchinger said: “Throughout this difficult economic period, the Village has been pleased that the Stonebridge Development has maintained significant interest from the real estate development community. And, with SunCal now taking the reigns, we are optimistic that their depth of financial resources and expertise can restart this project.”
Finally! The 55+ restriction was discriminatory towards families with children and needed to go. We do not need houses in the 1.2-1.6 million range, we need them in the 300-750k range and we need attractive smaller townhome/condo’s for the buyers who want to downsize regardless of age.
I am a West Terrace resident that looks out onto Stonebridge every day. I have to respectfully disagree with Mr. Hunt and his belief that we “need” the homes to be in the $300,000 + range. I didn’t think the age restricted homes at the price point they were to be offered at would sell, but let’s not get ridiculous about it. Who “needs” the homes to start at $300,000.? I don’t think anyone who lives within steps of the property needs that. I also disagree with the need for condo units beyond the original plan. I know some people disagree with the plan to rehab the coach house, but I love the look of the turret and the feeling it gives the property. It would be a shame if the structure is too far gone to rehab. I also believe that since the age restriction has been lifted, and the population will certainly increase from the original plan, adjustments must be made to lower the number of homes to be built. We don’t “need” a development that will busting out of it’s original seams.