'Something dynamic': Developer details plans for Block 59 project in Naperville
At the city's planning and zoning commission meeting on Wednesday, representatives from Brixmor Property Group presented its vision for the 16-acre parcel at the northeast corner of Route 59 and Aurora Avenue being called Block 59. While tearing down all but two of the existing buildings, the developer aims for a restaurant, entertainment and event space that would be walkable and filled with trees and landscaping.
The presentation came in the midst of Brixmor's lingering request for a tax incentive as part of declaring Heritage Square a business district. The city council has indicated support for a limited incentive that would include a 1% sales tax applied to businesses in Heritage Square until $13.4 million were raised for the area, which must be deemed blighted.
Balzer said $17 million in sales and property tax money would be added to city coffers over the next 10 years, and Indian Prairie Unit District 204 would receive an estimated $2.9 million.
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