The final plans for the Water Street District Redevelopment Project have been officially approved.
Since the last discussion in October, several changes were made to the project including a formal revision of the subdivision plat and a handful of agreements tied to funding the $93.1 million project. One extended the Water Street tax increment for seven more years to make up for the same number of years it has taken to get the project moving.
The project will bring new buildings to the street which include space for retail, commercial and restaurant use, a 158-room hotel and a 524-space parking garage.
Now that all plans have been finalized the development team can work toward a groundbreaking on the project.
Also approved was the new route for the third annual Healthy Driven Naperville Marathon and Half Marathon, sponsored by Edward-Elmhurst Healthcare scheduled for Sunday November 8.
Highlights of the new route include a start and finish area closer to downtown and reversing and enhancing the course from last year, so that every runner can get a tour of central Naperville. The path should also please drivers, as it will re-open up key access routes earlier in the day.
And finally, Council continued their discussion with the DuPage Children’s Museum about utilizing parking space in their lot.
Since the museum has temporarily closed their permanent location in downtown, council has been working with them to offer daily fee commuter parking in their lot.
“We have actually determined how much we are going to utilize, it’s actually most of the lot. We’re going to do it as daily fee parking at $5 rate that the rest of the regular daily fee is,” said Jennifer Louden, Transportation Team Leader for the City of Naperville.
The fee would be used to help offset the costs for the repairs.
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