Bordered by the Fox River to the west, East Benton Street to the north, South Broadway to the east, and North Avenue to the south, Kent W. Shodeen, CEO and chairman of Sho-Deen Inc. says the property had been sought by the developer for nearly a year. "This is a fantastic location in the heart of Aurora and along the river that has so much exciting potential," says Shodeen, whose redevelopment proposal was approved by Aurora in January.

Shodeen says the first item on the agenda is a $3 million to $4 million environmental cleanup and infrastructure improvement of the brownfield properties, paid for by the city and the developer and slated for completion within two years. The development falls within the Rivercity Project Area tax increment financing district. Funds generated by the project within the TIF will be used to help offset TIF eligible expenses incurred by the developer and the city for items such as the environmental cleanup and infrastructure improvements.

During the recent groundbreaking for the project, Aurora Mayor Tom Weisner commented that the development would accomplish many things for the city. "It brings over $200 million in new investment in our downtown, it will help bring new residents to the downtown, and it will help clean up and beautify land along the river from when the city was an industrial city," the mayor said. "We expect that this will be the first of much new redevelopment in Downtown Aurora."