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TO: Mayor Richard C. Irvin
FROM: David Dibo, MOED Director
DATE: September 10, 2024
SUBJECT:
A resolution that approves a redevelopment agreement for the renovation of the property known as the Galena Hotel located at 116 West Galena that includes a city contribution discussed below.
PURPOSE:
Adaptive reuse of the vacant and long dilapidated property for twenty-one "micro apartments" with an affordable pricing structure renamed Lincoln House.
BACKGROUND:
Known originally as Fox River House, the Galena Hotel was rebuilt in 1860, after a fire destroyed the original building. It was owned and operated by Edward Huntoon, cousin to one of the original settlers of Aurora in the early 19th century. It served as a popular location for parties, balls, weddings and community events with residents coming there after attending social events at the popular Dunning block by River Street. The Galena Hotel is notable for its original architecture, that it is one of the few buildings still standing built prior to the Civil War. It was continuously used up until its closure few years ago. The building is listed on the National Register for Historic Places.
After the building was shuttered for continued unaddressed and dangerous code violations, it was purchased by Fernando Barrera, an Aurora native with an accounting and finance degree from Benedictine University and over ten years' experience in the real estate industry. After working in public accounting, he started his own real estate business and has amassed a portfolio of 150 residential units. He is known for his work with first time home buyers and investors and promoting community and economic growth in the historic neighborhood of his youth. For this project, he has assembled an experienced team of design, construction, and historic building compliance professionals. See Attachment I for detailed backgrounds on the development team.
There are challenges and opportunities inherent in the redevelopment of the G...
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