Development Of $70 Million Apartment Complex Approved For Aurora

AURORA, IL — Aurora Mayor Richard C. Irvin officially approved the city's largest downtown residential development following Tuesday night's City Council meeting. The $70 million, 246-unit apartment complex will be built on Route 25 along the Fox River.

The five-story building — unanimously approved by City Council — is the first ground-up development in downtown Aurora in about a decade and a half, Irvin said prior to signing the agreement with DAC Developments, LLC, the firm helming the project.

Prior to this project, the River Street Plaza condominiums, built in 2007, were the last private constructions in downtown Aurora. The new complex is expected to lead the way for future massive construction projects, city officials said Wednesday.

"This has been a long time coming," Irvin said in a statement. "This beautiful development will create a synergy throughout our entire downtown and have a ripple effect across our city. Aurora is open for business."

The development will house market-rate apartments that are primarily studios and one-bedrooms, but there will also be some two- and three-bedroom spaces. Almost half the units will have private balconies.

Set to be built next to the RiverEdge Park music venue and directly across the street from the Aurora Transportation Center, the apartment complex will have a swimming pool courtyard with a view of the river's shoreline, Patch reported. A Fox Valley Park District bike path will also run through a park on the complex.

"This is a labor of love, and we couldn’t have done this without such great partners at the City of Aurora," Daniel Rezko, CEO of DAC Developments, said in a statement. "What we find so fascinating about the city of Aurora is there hasn’t been a lot of new development like this. The amazing Fox River is just waiting to be activated."

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