Shopping Center Takes Next Step in TranSFormative Redevelopment
AURORA, Ill. – December 17, 2020 – Fox Valley Mall, a three-story shopping center serving generations of Aurora/Naperville-area visitors (www.shopfoxvalleymall.com), today announced it has partnered with Atlantic Residential and Focus to build a 304-unit luxury apartment project on the property’s former Sears site. The news marks a significant forward step in the redevelopment plans for Fox Valley 2.0, a complete tranSFormation of the shopping center that will create a more modern and desirable mixed-use development combining the best retail, dining and entertainment with contemporary residential living. For downloadable renderings of the proposed Fox Valley 2.0 changes, including the new luxury apartments, click here: http://ow.ly/l84K30ri9i3.
“We are making significant investments in Fox Valley Mall, and are committed to seeing this project through for the long haul,” says Steven Levin, CEO of Centennial, the mall’s owner. “Last year’s addition of Center Park and the mall’s new two-story ‘Treehouse’ structure were just the beginning of what is yet to come. With the changes we’re on the cusp of making at Fox Valley Mall, we’re re-inventing the future of retail and planning to make this shopping center an icon for ‘how things are done’ industrywide.”
Despite the challenges posed by COVID-19, Fox Valley Mall’s owner, Centennial, is moving full-steam-ahead with the redevelopment projects it had planned before the viral outbreak began and remains committed to its long-term vision for Fox Valley Mall.
While working through final approvals with the city on plans for the new luxury housing units, the center has already begun site preparations. Construction is expected to begin in spring 2021 on the luxury apartment residential development, which will also include an open-air plaza designed for community events, a broad and inviting street that forms a visual gateway to the mall, rooftop parking, a pool terrace, and a central gathering space with clubhouse-quality amenities.
“At Fox Valley Mall, we’re ushering in a new era of creativity and ingenuity,” says Justin Pelej, Senior Vice President of Development, Focus . “The new luxury residential units will absolutely be the cornerstone of the center’s master-planned development, but they’ll also be a place people are proud to call home. This community will be both functional and impactful, delivering a simple elegance that combines quiet comfort and round-the-clock excitement into a singularly exceptional package.”
“The new residential community at Fox Valley Mall is being meticulously planned to give it an identity that’s as unique to that community as a fingerprint is to every individual,” says Richard Aaronson, CEO and Founding Partner, Atlantic Residential. “It will be an artful combination of modern living, desirable shopping, and coveted dining and entertainment experiences that will set the bar by which future live-work-play environments will be measured.”
“With the addition of these well-planned luxury apartments, Fox Valley Mall will become a true day-to-night destination,” says Jon Meshel, Senior Vice President of Development for Centennial. “Additional changes planned for Fox Valley 2.0 include shopping options from nationally renowned retailers to groundbreaking pop-ups, a wide array of food and beverage choices, and a carefully curated collection of entertainment options that offer something for people from every generation.”
The center will showcase its redevelopment plans and progress in Fox Valley Mall’s TranSFormation Suite, located on the mall’s first level adjacent to Center Park and the new Treehouse structure. The TranSFormation Suite is open to the public and will serve as an information hub for consumers as well as current and prospective tenants throughout the center’s redevelopment.
About Atlantic Residential
Atlantic Residential is a private commercial real estate firm based in Atlanta, Georgia with regional offices in Chicago, Illinois and Ft Lauderdale, Florida. It 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 $2.0 billion of institutional quality properties containing over 7,000 residential units. The firm is focused on developing luxury apartment communities and for-sale condominiumminiums and townhouses. It has over 100 full-time employees engaged in property management, sales and leasing, construction, and development activities in the Southeast and the Midwest. Atlantic Residential pursues a dual strategy in housing development: (i) develop and manage a portfolio of luxury apartment communities under various proprietary brands and (ii) provide superior entry-level townhomes and condominiumminiums, many within larger mixed-use communities. To learn more, visit https://atlanticresi.com.
Focus is a Chicago-based developer and general contractor that uses an integrated delivery model to produce a diverse portfolio of distinctive real estate. The places + spaces Focus brings to life reflect a dedication to impact lives, enhance communities and build value, all while controlling the risk of innovation. Founded in 1993, Focus exists at the intersection of development and construction, offering a wide portfolio of services from real estate management, development and construction services to residential and commercial building and general contracting services. The exemplary collaboration between its vertically integrated, multi-disciplinary teams has enabled Focus to consistently deliver high-quality, beautiful buildings that blend seamlessly into the context of existing architecture. As a result, Focus has an extensive portfolio of completed work that has earned it an exceptional reputation for credibility and competency in Chicago, Evanston, Forest Park, Highland Park, Lake Forest, Oak Park, Wheaton and Winnetka. To learn more, visit https://workwithfocus.com.
Centennial is a national owner of major shopping, dining, entertainment and mixed-use destinations. Rooted in retail since 1997, the company is focused on shaping the evolution of American retail by creating a superior multi-faceted shopping experience. Centennial properties serve not only as a place of commerce, but a place of community. For more information, visit CentennialREC.com.
About Fox Valley Mall
Fox Valley Mall 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 140 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 Mall 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, Twitter and Instagram.
Blackford & Associates
Blackford & Associates
Blackford & Associates
Read the original press release here.