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TO: Mayor Richard C. Irvin
FROM: Planning and Zoning Commission
DATE: November 5, 2020
SUBJECT:
An Ordinance Establishing a Special Use Planned Development, Approving the Fox Valley SP, LLC Plan Description and Amending Ordinance Number 3100, being the Aurora Zoning Ordinance and the Zoning Map attached thereto, to an underlying zoning of R-5A Midrise Multiple Family Dwelling District for the property located on the east side of the Fox Valley Mall, west of Route 59, and south of New York Street (Centennial Real Estate Company - 20-0275 / NA21/4-18.004-SUPD/Rz/Ppn - TV - Ward 10)
PURPOSE:
The Petitioner, Centennial Real Estate Company, is requesting the establishment of a Special Use Planned Development, and to change the underlying zoning district to R-5A Midrise Multiple Family Dwelling District on 11.11 acres for property located on the east side of the Fox Valley Mall, west of Route 59, and south of New York Street to allow for the construction of a multiple family residential development.
BACKGROUND:
The Subject Property is a portion of the former Sears parcel within the Fox Valley Mall area. The property is currently zoned PDD Planned Development District, which is currently part of the Fox Valley East Planned Development District.
The Petitioner, Centennial Real Estate Company ("Centennial"), purchased the Fox Valley Mall in 2015. Then in 2018, a partnership controlled by Centennial purchased the Sears' and Carson's Site after falling into bankruptcy. Since then, Centennial has been making substantial investments essential to the Mall's revitalization including the remodeling of the mall center. As part of these efforts, they are also in for permits to demolish the Sears building to make way for a future retail and residential development.
The Petitioner, has teamed up two architectural and development firms, to redevelop the eastern portion of this site for multiple family residential. They are requesting the establishment of a Sp...
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