Burr Ridge abandoned neighborhood gets new life

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Updated: March 26, 2012 1:58AM

Building is expected to resume soon at the Savoy Club of Burr Ridge, now that the Burr Ridge Village Board has approved changes to the neighborhood’s covenants.

Pulte Homes intends to buy 45 vacant lots in the largely undeveloped neighborhood at 79th Street and Dana Way, completing a project that fell victim to the economy in 2010. Because the abandoned project was approved as a planned unit development, changes to its covenants had to be approved by the Village Board.

The six residents of the 52-lot neighborhood, the Savoy Six, met with representatives from Pulte last week and came to agreement about several changes to the neighborhood covenants.

Among other things, the amended covenants clear up confusion about whether the remaining lots will be developed as part of an “age-restricted” or “age-targeted” neighborhood.

The new language will clearly describe the neighborhood as “age targeted.”

Pulte also agreed to address a punch list of items provided by the village. The list includes maintenance of the neighborhood’s ponds.

“We agree to support the transaction,” said Ken Oestermeyer, speaking on behalf of the Savoy Six.

“We look forward to working with the homeowners in this beautiful community,” said Mark Mastrorocco of Pulte Homes.

The neighborhood’s remaining lots will be marketed to empty nesters, with an average home price of $700,000 to $800,000. Pulte intends to purchase lots from First Merit Bank in phases, with a minimum purchase of five lots per quarter.

Mastrorocco indicated at a Village Board meeting earlier this month that Pulte Homes would like to begin construction of a model home as soon as possible, in preparation for the spring selling season.