The $53.8 million complex in Aurora along the banks of the Fox River, will include 140 rental apartment units and 20 townhouses and will be built on 3.3 acres the city owns.
The $53.8 million complex will include 140 rental apartment units and 20 townhouses, and will be built on 3.3 acres the city owns along the riverfront, just to the south of the new pedestrian bridge connecting both sides of the river.
The apartments are the first major housing units along that section of the west riverbank, and signal the start of an area city officials believe will become its own neighborhood. The city owns about another six acres along the riverfront between the proposed development and the Hollywood Casino entrance.
The Windfall Development also is the start of redevelopment in that West Side eight-block area surrounded by Lake Street, New York Street, River Street and View Street. City officials have said the redevelopment agreement with Windfall will serve as a model for the next incentive the city might agree to for more residential development along the river.
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