Focus Begins Second Phase of Transformative Redevelopment at Fox Valley

Next Phase of Luxury and Senior Living Construction Follows Completion of Lumen Apartments Earlier This Summer

AURORA, Ill. – July 27, 2023 – Focus, in collaboration with development partner Atlantic Residential and property owner Centennial, today announced the highly anticipated launch of the second phase of the transformational redevelopment now underway at Fox Valley, a three-story shopping center serving generations of Aurora- and Naperville-area visitors. This new phase of the center’s redevelopment will include a 323-unit luxury apartment community as well as a 212-unit senior housing development, each expected to be completed by the fall of 2025. Today’s announcement comes on the heels of the June 2023 completion of Lumen, a 304-unit luxury apartment community now being leased at Fox Valley.

"Phase 2 of the Fox Valley redevelopment represents a significant milestone for us and our development partners," says Tim Anderson, CEO of Focus. "We are dedicated to fostering an incredible and very diverse community at Fox Valley, and we firmly believe that the addition of luxury apartments, exceptional amenities and innovative outdoor spaces will significantly enrich the lives of our residents and the community of Aurora as a whole. We eagerly anticipate the unveiling of this exceptional development and warmly invite individuals and families to experience the new Fox Valley lifestyle."

"Fox Valley, like numerous shopping centers across the nation, is undergoing a significant transformation that will enable it to adapt to today’s evolving retail landscape. The successful completion of Phase 1 of the redevelopment with its remarkable Lumen Fox Valley apartments has surpassed all expectations," says Richard Aaronson, CEO of Atlantic Residential.

“Like its predecessor, Lumen, this next phase of development at Fox Valley will offer a modern and sophisticated luxury apartment living experience, a highly amenitized senior living center, an incredible array of new retail and dining options, and the addition of mixed-use spaces that will continue to enhance the overall community,” says Whitney Livingston, President of Centennial. “Through the combination of Lumen and this second phase of development at Fox Valley, we are ushering in a new era of luxury and convenience for our residents.”

About the Two New Phase 2 Developments

With the completion of Lumen and the introduction of the new Phase 2 development just beginning, Focus, Atlantic Residential and Centennial are changing the way people live, work, and play in new and inspired ways.

Constructed on the site of the shopping center's former Carson's store, the new Phase 2 Fox Valley luxury apartments will feature state-of-the-art amenities, including a scenic park with abundant green space and a convenient dog park for residents. Recognizing the growing demand for flexible workspaces, Phase 2 will introduce a unique outdoor co-working space equipped with Wi-Fi that will enable its residents to work remotely in a refreshing collaborative environment that blends the convenience of modern technology with the benefits of being surrounded by nature. Whether it is used for business meetings, brainstorming sessions, or simply seeking inspiration, this creative outdoor space will provide a distinctive modern workplace setting for residents to enjoy.

Inside, the new Phase 2 Fox Valley apartments will offer an impressive range of upgraded finishes and an abundance of private amenities that will cater to the discerning tastes of its future residents. With a commitment to providing exceptional living spaces, Fox Valley aims to create a community that prioritizes comfort, convenience, and a high quality of life, redefining the standard of modern living.

Phase 2 will also include a five-story senior living center situated between Lumen and the new Fox Valley apartments. The coming senior living center will offer independent living, assisted living and memory care services in a thoughtful design that rivals the luxuries and conveniences of the Lumen and Fox Valley Phase 2 apartment developments.

Announcements regarding related retail, entertainment and restaurant tenants will be made closer to the completion of the Phase 2 development.

About Lumen Fox Valley

Built on the site of the former Sears building at Fox Valley, the luxury Lumen apartments boast an array of amenities, including a game room with 98-inch TV, social lounge, 24-hour fitness center and yoga studio, a “bark park” and pet spa, a sparkling pool with hotel-style cabanas, and a fire pit with a private sundeck. Inside each Lumen apartment, residents will enjoy perks like integrated work desks, double vanities with LED backlit mirrors, and walk-in closets which give the apartments a very upscale look and feel.

With these kinds of amenities, it’s not surprising that Lumen leased over 100 apartments in just 100 days, an unprecedented pace that continued throughout its completion, reflecting the desirability of the project's contemporary design, prime location and meticulous master plan adjacent to a bustling shopping center. To date, over 60% of the residential units in Lumen have been leased. For more information on leasing Lumen apartments, visit https://www.lumenfoxvalley.com/.

“In the process of relocating to the Chicago area, I looked at more than 20 rental complexes in the western suburbs. The units at Lumen Fox Valley offer excellent appliances and finishes, extensive closet space, impressive amenities, and resident activities, all at a competitive price. Great shopping, including a large mall, and restaurant opportunities are available within a three-mile radius with access to major highways close by. And the friendly Lumen Fox Valley staff responds quickly and professionally to resident requests,” says current resident Diane Ewing. “For these reasons and many more, I know I made a great choice in selecting this property for my home."

About Center Park and Fox Yard

The redevelopment of Fox Valley also included two new community gathering spaces that can be activated with events and entertainment appealing to the Aurora community. Fox Yard, added in 2022, is a beautifully landscaped grassy space with a half-mile-long walking trail, a public dog park, casual picnic-style seating, a variety of lawn games, a new artistic fox mural, and a large stage for events. The communities of Aurora and Naperville can also use the space to gather for celebrations, children’s birthday parties, workout sessions and other family-and-friend-style get togethers.

Center Park, which kicked off the center’s redevelopment in 2019, is a reimagining of the shopping center’s previous Center Court space, turning thousands of unused square feet into an outdoor-themed park-like destination where people congregate, relax, and spend time with one another year-round, no matter the weather. The communities of Aurora and Naperville can also use the space for community events and celebrations.

About Focus

Focus exists at the intersection of development and construction. For 30 years, their teams have worked diligently to exceed expectations and transform communities. As a vertically integrated development and construction company, Focus is responsible for distinctive developments that value over $2.4 billion. These projects range from smaller, multifamily communities in historic districts to high-density, mixed-use redevelopments in thriving downtowns. For more information, visit workwthfocus.com

About Atlantic Residential

Atlantic Residential is a private commercial real estate firm based in Atlanta with regional offices in Chicago and Ft Lauderdale. The firm was formed by Richard & Andrew Aaronson in 1995 to develop residential and mixed-use projects. Since its inception, the firm has been responsible for the construction of $3 billion of institutional quality properties totaling over 10,000 residential units. The firm focuses on developing luxury apartment communities and for-sale condominiums and townhouses. For more information, visit www.AtlanticResi.com

About Fox Valley

Fox Valley is part of the Centennial Collection, managed by Centennial Real Estate Management Company, LLC. Conveniently located off Route 59, the shopping center provides an unmatched experience for millions of Aurora/Naperville-area shoppers each year. Anchored by Macy’s and JCPenney with nearly 120 specialty retailers and eateries, including H&M, Forever 21, Victoria’s Secret, and a 50,000-square-foot Round 1 Bowling & Amusement center, the three-story Fox Valley offers a wide array of name-brand shopping, dining and entertainment options. For more information, visit the center’s website at www.ShopFoxValleyMall.com and follow the center on Facebook and Instagram.

About Centennial

Centennial is a real estate investment firm with a national portfolio of shopping, dining, entertainment and mixed-use destinations as well as a full-service third-party property and asset management division. Today, the firm operates more than 23 million square feet of managed properties in 18 states. Since 1997, Centennial has played a pivotal role in shaping the evolution of American retail by creating a superior multi-faceted shopping experience with properties that serve not only as a place of commerce, but as a place of community. For more information, visit CentennialREC.com.