CHAMPAIGN, Ill. (WCIA) — Following nearly ten years of preparation, a project aimed at expanding the Champaign-Urbana MTD is receiving crucial support. Their goal is to significantly enlarge the Illinois Terminal, and this decision could be the turning point they need.
The district has enlisted a consulting firm to guide them in their negotiations. CU MTD is required to secure arrangements with private developers, the City of Champaign, and other stakeholders. They believe that partnering with a seasoned company like Coldwell Banker Richard Ellis (CBRE) will be instrumental.
“CBRE has a wealth of experience in creating transit-oriented developments,” stated MTD board member Phil Fiscella. “The concept involves a mixed-use development featuring residential, office, retail spaces, and a transit hub. They are actively working on, I believe, nine projects in San Diego and have numerous examples nationwide. We need a partner to unify the City of Champaign, these private developers, the mass transit district, and potentially the university.”
Fiscella said this is a first of a kind development in Champaign, which makes the need for assistance even greater.
