Previewing the 2014 holiday shopping season
Dozens of community members – including public officials, city employees, brokers, contractors, architects, attorneys, downtown merchants, family and friends – gathered on October 21 when the BBM Incorporated development team of Dwight Yackley and Ruth Yackley hosted ground-breaking ceremonies for Main Street Promenade East, a $30 million retail-and-office project in downtown Naperville.
Few could resist cheering with the lively music as Dwight Yackley made the beginning of the much-anticipated construction official.
The “ugly gray box” that houses a portion of the Van Buren Parking Garage soon will have a face lift with a two-story building running along the east side of Main Street between Benton and Van Buren avenues.
Folks began the dig for the latest downtown Naperville development by BBM Incorporated that will include attractive retailers on the ground level such as J. Crew, Anthropologie, Blue Mercury, Hot Mama, Michael Graham Salon and Spa, Frost Gelato and David’s Tea.
The second level will be a business center created by Regus, the world’s largest provider of flexible workspace, meeting the needs for corporations and small businesses that want a presence in downtown Naperville.
Construction by Sequoia General Contracting is expected to take about one year. Weather permitting and without any unforeseen circumstances, tenants will be in place with build-out finished in time for the 2014 holiday season.
Positively Naperville will be following the progress of this development in downtown Naperville. For more info, visit www.mainstreetpromenade.com.
Recent history & development
To provide a brief history, in 2008, the planned retail-and-residential project came to a halt when the original developer fell victim to the economic downturn leaving the site unfinished and surrounded by the fence. Since purchased by Naperville based BBM Incorporated & LFP Holdings, the new plans call for a two-story structure for retail, office and professional use.
When Main Street Promenade East is completed, the 55,000-square-foot building will stand in stark contrast to the concrete-faced parking garage and construction fencing now at the site. The development will benefit from downtown’s lifestyle environment with a broad mix and balance of independent and national tenants for the high-profile retail space that serves as an economic engine in the heart of the city. Thanks to proximity to the Napervile Train Station, North Central College, the Riverwalk, Naper Settlement, DuPage Children’s Museum, Nichols Public LIbrary and more than 40 eateries, downtown Naperville will become even more attractive when Main Street Promenade East is open for the 2014 holiday season.
A few comments
“Naperville has probably one of the most successful downtown retail districts,” said Mike Stengle, president of Aurora-based Sequoia General Contracting, noting his company also completed most of the the tenant construction in the original structure that is home to the Naperville Area Chamber of Commerce. “When finished, this building will look very similar to the existing Main Street Promenade facing Van Buren Avenue on the west side of Main Street. This project will fit in and augment that shopping area nicely.”
“Anytime you put a shovel in the ground as significant as this, it’s a great sign our economy has flipped to the other side,” said Mike Evans, President and CEO of the Naperville Area Chamber of Commerce. “Projects like Main Street Promenade East don’t happen in bad economies.”
“I feel that Main Street Promenade East is necessary in a big way because of the people who invest like the Yackleys,” said Mayor George Pradel. ” It’s a shot in the arm that will benefit all of Naperville, not just the downtown.”
“When this north end of Main Street is finished, it’ll draw downtown activity closer to Hugo’s, so, of course, I like it,” said Anthony Losurdo, General Manager of Hugo’s Frog Bar and Fish House, one of the original tenants in Main Street Promenade, located along Van Buren. “It’ll bring great shopping opportunities that will expand foot traffic and increase sales from walk-ins. It’ll give us greater presence for more guests and that’s good for business.”
“For me personally, I’ve been working for four to five years to secure a spot for J.Crew,” said Nick Peters, Senior Vice President of Brokerage Services/Retail Investments for CBRE, a full-service commercial real estate provider. “Urban retail demands networking and persistence. There’s been great pride in creating this project with tenants that haven’t been in downtown Naperville before.”
“We have a high level of confidence that Main Street Promenade East will be done right,” said Councilman Judith Brodhead. “It was important to the City Council that Dwight and Ruth were local with experience in bringing the city good projects.”
“Our efforts have been to help get tenants excited about downtown Naperville,” said Sharon Kahan, First Vice President of Brokerage Services-Retail Specialty, at CBRE. “We needed to convince tenants that the market is here at this regional location. Once tenants begin to see the opportunity, it happens with networking. I’d say Naperville is the most vibrant mix in all of Chicagoland—it’s a downtown with lots of vitality.”
“I’m very excited for new shops, especially J. Crew,” said Naperville resident Deanna Losurdo. “I’ll be more likely to frequent downtown with high-end stores. I see more employment opportunities for young people, too.”
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Brief overview of developments in progress & more planned
From hotels and retailers to distribution centers and office suites to churches and condominiums, Naperville is bustling with activity, growth and development that provide jobs now and way into the future. Just drive around the city in all directions to see all the digging, moving dirt, framing and Bobcats in action. Below is a list of some recent and planned developments.
Main Street Promenade East
Located at Main and Van Buren Streets in downtown Naperville.
Developed by BBM, Inc. to complement the existing Main Street Promenade, Main Street Promenade East will go around the Van Buren Parking Garage with a combination of Regus office suites and retailers such as Anthropologie, Blue Mercury, J Crew, Hot Mama, Michael Graham Salon and Spa, and Frost Gelato.
Water Street District (Previous Posts)
Located in downtown Naperville.
Just off Main Street, east of the Municipal Center, a parking garage and an Indigo Hotel with 160 rooms, complete with a rooftop lounge, is expected to begin construction this spring, with an anticipated opening in 2015.
Main Place
Located along Jefferson Ave. between Main and Webster.
Main Place will welcome new stores including Sephora, Apricot Lane, and Pure Barre early in 2014.
Naperville Crossings
Located along Route 59 just north of 95th St.
The Oaks Apartments, just north of Naperville Crossings, are going up fast!
Freedom Plaza
Located at Abriter & I-88.
A Convention Center, including the 168-room Embassy Suites with four restaurants and a banquet facility for up to 1,000 guests, will be added to the mix of 17 hotels with more than 2,000 rooms for overnight stays.
Freedom Commons
Located at Diehl Road & Freedom Drive.
Recently purchased by Inland Real Estate, the property will be home to IFly Indoor Sky-Diving and the Cigar Bar, opening next spring.
Auto Motor Plex
Located at Ferry Road & Route 59 near CityGate Centre.
The Auto Motor Plex, designed with the motorsports fan in mind, will include the development of approximately 18 acres of land annexed into Naperville where owners can store car collections with areas to entertain. The development will house 11 acres of motor condos and seven acres of retail and commercial space.
Ozark Distribution
Located on North Aurora Road.
The 360,000 square foot build to suit facility currently under construction is expected to create 300 new jobs when it opens in the summer 2014.
WalMart Super Store
Located at 75th Street & Beebe Drive.
Expanding from space next to Sam’s Club that will be home to a new tenant, WalMart will move into a Super Store, bringing significant property and sales tax revenue.
Standard Market
Located at Aurora & Ogden Avenue.
With eyes on opening in the summer of 2014, Westmont-based Standard Market also is moving dirt, making its way on the property near Ogden and Aurora Avenues, formerly home of Frank’s Nursery.
In addition to the new construction activity, Naperville also has several new businesses coming to fill empty spaces in downtown Naperville.
Watch the Naperville Plan and Zoning Commission meetings as they happen to keep apprised of projects in the works to see if they’re moved forward to City Council. Also pay attention to City Council meetings where the plans are discussed and finally approved. Meetings are broadcast live and saved in an archive for viewing around the clock.
As always, thanks for shopping, dining, entertaining, banking and supporting the local community. Thanks for paying attention, too.
