K. Hovnanian Homes purchases 60-acre site from Meijer

V3 Companies and NAI Hiffman represented national residential homebuilder, K. Hovnanian Homes, in the purchase of 60 acres of land from Meijer in Lisle. K. Hovnanian Homes plans to rezone the commercial lot, located just west of Benedictine University along Maple Avenue, and will develop more than 160 single-family homes on the site.

V3 contributed to the Arbor Trails purchase by providing project planning, engineering, surveying, wetland and water resources, and transportation services. A key component to the success of the project was V3’s ability to create an off-site wetland mitigation solution on Lisle’s park district property, facilitate an agreement with the park district and obtain approvals from the U.S. Corps of Engineers, which saved K. Hovnanian more than $200,000.

Pat Kennedy of V3 and Dan Hiffman of NAI Hiffman represented K. Hovnanian Homes in the transaction.

Source: RE Journals

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