A pair of apartment projects in downtown Aurora are chugging along, despite several delays.
DAC Development’s 258-unit complex on North Broadway and Windfall Group’s 187-unit Pacifica Riverview on North River Street are still on track to be built in the southwest suburb, according to Aurora Mayor Richard Irvin, the Chicago Tribune reported.
Irvin cited challenges such as increased construction costs and a down economy as reasons for the stall on the developments, both of which were initiated over a year ago. The mayor emphasized that the projects will make it to the finish line, a view he offered publicly in response to rumors that they wouldn’t be built at all. DAC’s East Bank Apartments is likely to break ground this year, while construction of Windfall’s development is expected to commence in about a year.
DAC started the design phase for its $84 million complex in 2021 and has received $6.7 million in incentives from the city. However, the firm doesn’t expect the project to be as lucrative as initially planned due to rising interest rates and construction costs contributing to an increased budget.
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DAC, known for suburban apartment developments with amenities such as tenant coffeehouses, bike shops and swimming pools, aims to build mostly studios and one-bedroom units, as well as some two- and three-bedroom units. Rising five stories and spanning 27,000 square feet, the East Bank Apartments will feature private balconies for roughly 45 percent of the units.
On the west side of the Fox River, Windfall’s plans for Pacifica Riverview call for mostly one-bedroom apartments, along with studios, two-bedrooms, three-bedrooms and 10 two-story houses facing the river. It’s also slated for 2,000 square feet of retail space, a rooftop terrace, party room and fitness center. These plans, approved in May, could be scaled back over the next year, though, the publication said.
Despite a one-year timeline delay, Mayor Irvin pledged to expedite the process
—Quinn Donoghue