[shareprints gallery_id=”41800″ gallery_type=”squares” gallery_position=”pos_center” gallery_width=”width_100″ image_size=”small” image_padding=”2″ theme=”dark” image_hover=”false” lightbox_type=”slide” titles=”true” captions=”true” descriptions=”true” comments=”true” sharing=”true”]The Water Street Development is officially underway in downtown Naperville as Marquette Companies held a groundbreaking ceremony Thursday morning.
“We look forward to this project going up pretty fast,” said Jeff Prosapio, Executive vice President of Development for Marquette Companies. “It’s anticipated that we will be looking to completion by fall of next year (2016).”
According to projections from the developer, Water Street District will create 500 jobs during construction, as well as an estimated 200 permanent jobs once opened. It is projected that the various businesses on site will generate $12M in food and beverage tax over the next 20 years, as well as $6M in sales tax and $7.5M in hotel tax. A 5 percent jump in overall downtown sales is projected as a result of the addition of the Water Street District and the additional parking. Additional details of the hotel amenities and additional tenants will be forthcoming.
