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CHAMPAIGN, Ill. (WCIA) — After around a decade of planning, a Champaign-Urbana MTD expansion project is getting some help. They’re wanting to expand the Illinois Terminal in a big way and think this move will help push them over the edge.
The district is hiring a consultant group to advise them in negotiations. CU MTD needs to work out agreements with private developers, the City of Champaign and more. They said bringing on a company with as much experience as Coldwell Banker Richard Ellis (CBRE) will be a gamechanger.
“They have extensive experience developing transit-oriented development,” said MTD board member Phil Fiscella. “So, the idea is it’s a multipurpose development with residential office retail uses and a transit center. They are currently doing, I think they said nine of these in San Diego, they’ve got multiple examples all over the country. So, we need somebody to help us bring together the City of Champaign, these private developers, the mass transit district, potentially the university.”
Fiscella said this is a first of a kind development in Champaign, which makes the need for assistance even greater.