What's next for downtown Geneva?
Big changes are coming to downtown Geneva! Three new developments, two already approved and one that’s in the works, will be making over some key sections of downtown.
One developer said he’s targeting empty nesters, and another one wants “millennials,” but both are looking for residents who want to live close to Geneva’s downtown shops and restaurants and desire that maintenance-free townhouse lifestyle.
This spring, the Geneva City Council approved a plan by Oak Creek Capital Partners to build 30 townhome units to fill the block bordered by North, Stevens, North First and North Second streets.
The units, which will be priced just less than $500,000, will all face the street with parking in the development’s center and access to the townhouses from North Street, according to news articles.
With Third Street just a quick walk away, and the Fox River and Wheeler Park so close, the 30 units are in a prime spot that city officials had already deemed ripe for development. There was some concern from neighbors in the adjacent historic district that the size of the development was too large for their neighborhood, but ultimately, the Geneva City Council gave the project a nod of approval. In their discussion, several aldermen said that the density of the 30 units fits in with the city’s long-term planning.
The City Council will also have another big vote coming, when Marquette Companies comes forward with its plan for the Cetron property. Longtime Genevans know that the Cetron factory, which made electronics and vacuum tubes until the 1980s, has been an eyesore for many years.
Geneva’s official strategic plans also identify that site as prime real estate. Marquette, a Naperville-based developer, has bought the site and demolition began in late March to tear down the crumbling factory.
But what’s next for that location at Seventh and State streets from Richards to Peyton streets? The developers brought some preliminary ideas to the council in 2014 that included 200 “amenity-rich” apartments, according to news reports. The developers envisioned rents averaging $1,500 and thousands of ground-floor square footage designated for shops and restaurants.
The final proposal will have to go before the Plan Commission and the City Council for approval, but whatever replaces Cetron will certainly give the northwest side of downtown a whole new look.
On the other side of State Street, a new development by Shodeen that includes six townhomes will revamp the corner of Seventh and James streets. Priced starting at $419,000, the six Seventh Street Terrace townhomes are slated to be about 1,900-square-feet with attached garages.
With all these changes coming, there will certainly be more opportunities for the buyer or renter interested in a maintenance-free, downtown Geneva lifestyle.