Over the years, representatives from the Village of Maywood have been in communication with staff from the University of Illinois Center for Urban Economic Development (UICUED) to discuss economic development planning and policy in the Village. This project is a result of those relationships. It is based on the notion that there is untapped potential for further economic development in the Village.
This report assesses development opportunities for three areas in the Village: South Maywood, The Fifth Avenue Commercial Corridor and the North Maywood Industrial Area. Significant development assessments were conducted in each area. Some of the tools used in the assessments include land use analysis, building conditions surveys, traffic studies, and shoppers' surveys.
The report outlines specific recommendations for action in each area. For South Maywood, we recommend letting the market take its course while doing further study on the feasibility of upzoning or modest land assembly. For the Fifth Avenue Commercial Corridor, we recommend interrelated strategies including a physical improvement program and a business management program. Finally, for the North Maywood Industrial Area, we upgraded the land-use inventory and we determined that there are many complementary land-uses between industrial and commercial businesses. Looking at all three areas together, we concluded there are significant opportunities to build on the nucleus of economic activity to capture new investment and jobs for the Village.