Client: Fox Valley Developers
The Aurora City Council this week unanimously approved a development agreement with Fox Valley Developers LLC to turn the former Copley Hospital campus on the near East Side into a mix of senior living, independent apartments, education, neighborhood health care and parks.
The $128.5 million development will include $9 million in incentives from the city that could be as high as $15 million, depending on interest costs.
Mayor Richard Irvin called it the biggest investment on the East Side “in generations, maybe the largest ever.”
“Isn’t Aurora worth it?” Irvin said. “The cost of doing nothing, or even waiting another year, is a cost I’m not willing to pay. Between this public and private partnership, we can succeed where others have failed, or didn’t even try. Let’s be thinking about the future.”