NorthPoint Development said Thursday that it has acquired enough land to satisfy its pre-annexation agreement with Joliet.
The developer has scheduled an open house for contractors on Wednesday and plans to begin some construction for what it is now calling the Compass Global Logistics Hub.
“We’re excited to begin construction and capitalize on the rapidly growing e-commerce boom that has created a strong market demand for Compass Global Logistics Hub,” NorthPoint Development Vice President Patrick Robinson said in a written statement.
The project had previously been called Compass Business Park.
Just what the developer can do and can't do is unclear because NorthPoint is still in a court battle with the village of Elwood over plans for a future bridge over Route 53 that must be built according to the agreement with Joliet.
NorthPoint spokesman Scott Burnham said the developer has not acquired all 1,260 acres planned for the business park but now owns enough land to establish the contiguity required for annexation.
"Earlier this month there was a closing on additional property," Burnham said. "There's an additional 10 parcels of property composed of approximately 500 acres."
Burnham said NorthPoint also has a letter of no-objection from the Federal Aviation Administration for a parcel of government property that needs to become part of Joliet to make the annexation happen.
Until the bridge dispute is settled, Burnham said, NorthPoint can do some infrastructure work as well as construction on land it owns on the Elwood side of the Compass Global Logistics Hub.
The open house will be noon to 4 p.m. on Wednesday at Hartman Recreation Center, 511 Collins Street in Joliet.
"Local suppliers and union subcontractors are invited to stop by anytime to register for future opportunities," NorthPoint said in a news release.
NorthPoint estimates total investment in the project at $1.7 billion.
The developer lists 17 different kinds of materials suppliers and a dozen different kinds of union subcontractors it will need for the project.
In its news release, NorthPoint said it will expand opportunities for minority business enterprises and women business enterprises beyond what is required in the project.
NorthPoint is ramping up its efforts at the same time that opponents of the controversial project have hired a law firm and are threatening litigation aimed at stopping the Compass Global Logistics Hub from being built.
Residents have opposed the project contending it will worsen the semitrailer congestion and traffic problems that now exist in the area.