Members of the business community and Naperville office holders turned out Thursday morning for a ceremonial turning of earth for the long shovel-ready Water Street District redevelopment project.
Under discussion and repeated redesign for nearly the past decade, the $93 million undertaking by MP Water Street District LLP, a division of Naperville-based Marquette Properties, will transform 2.4 acres flanking Water Street between Main and Webster streets into a mixed-use commercial development anchored by a 158-room boutique inn. Completion is anticipated in the fall of 2016.
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The project has grown more than 25 percent since its 2007 incarnation – a proposal that was to be three-quarters residential space and one-quarter retail use – was approved by the City Council. Now covering 214,235 square feet, the project will include the Hotel Indigo, banquet facilities, meeting rooms, retail store spots and four restaurant spaces, one of them overlooking the Riverwalk. Plans call for office space to be added to the mix as well.
The scope of the development, even in its earliest versions, was problematic for some residents and decision makers. The Naperville Area Homeowners Confederation, along with some residents, consistently challenged the height and density shown in the plans. Some council members also objected to the project’s size and expressed concern additional traffic the hotel will bring, and shared skepticism over projections for the parking that will be available to the public once the 520-space parking deck is finished and becomes city property. When the proposal came up for a final vote earlier this year, Councilman Doug Krause sustained his opposition to the plan.
Water Street has been closed off, as has the portion of the Riverwalk that runs along the northern edge of the project area, but access to Webster Street will remain mostly unrestricted while the work goes on.
More information about the project can be found at naperville.il.us/waterstreetdistrict.aspx.