The Naperville Park District Thursday said it was considering a new proposal from Crestview Builders for the Ponds of Hobson West property, a 6-acre parcel between Plainfield-Naperville Road and West Street.
Monetary details of the new proposal were not disclosed. Last year the Park District offered Crestview $2.5 million for the land; the developer asked for $4.1 million. Residents hoping to save the land as open space instead of residential development said they were encouraged by the latest proposal.
It sounds like a deal may be close. Let's hypothesize and imagine a deal was reached for $3 million: should the park district spend that much for 6 acres? ($500,000 an acre?) In a perfect world everyone would love to acquire every last bit of open space and save it for recreation and preservation, but the reality is land costs money--in this case, taxpayer money.
Is it worth it, in your opinion? Should the park district close the deal?