Riverwalk development closer to green light

A new development along Naperville's Riverwalk moved a step closer to becoming a reality Tuesday.

The Naperville City Council gave preliminary approval to constructing Riverfront Plaza along Washington Street just south of Chicago Avenue.

The proposed development would replace a long-vacant office/retail building on the site and also provide both money and an opportunity to close a gap on the Riverwalk.

The 24,600-square-foot development along the DuPage River would be a three-story building with a restaurant, likely Adobo Grill, on the first floor with an outdoor seating area. The second and third floors would house offices.

"The intention was to building something that would facilitate higher utilization of the Riverwalk and be a showplace for the downtown," said Fred Roth, attorney for developer Lakeshore Development Group Inc. "In looking at potential uses, it was decided eventually that one of the best ways that the downtown has grown and prospered and brought so many people here is restaurants."

In addition to the development, Lakeshore would contribute to making improvements to the adjacent portion of the Riverwalk.

Riverwalk Commission Chairman Rick Hitchcock said completing the Riverwalk is a priority, taking precedence over other rehabilitation projects. He said it needs to be done now because it will be too difficult after the building is constructed.

But the city and Lakeshore have been at odds over how much the developer would have to contribute toward the Riverwalk improvements. City staff recommended about 44 percent of the estimated $700,00 to $900,000 projected cost for improvements while the developer originally offered $100,000.

Roth presented a compromise Tuesday that would amount to a $310,000 contribution through a combination of land and cash

"I think he's done his share, quite frankly," Councilman Richard Furstenau said. "I would like to get on with this because I would like to see the building that's there torn down ASAP."

Councilmen John Rosanova and Doug Krause agreed and said the development also will bring in additional real estate, sales and food and beverage taxes for the city.

But Councilman James Boyajian said he is not sure $310,000 is enough because the city has not received a firm estimate of what it will cost for improvements, and he feels the developer is already a receiving great benefit.

"This is going to have a world-class window to the world both on Washington Street and on the river, and it's probably going to be unparalleled at least in the structures that already exist in Naperville," he said.

The council voted 7-1 in favor of the proposal. Boyajian was the lone "no" vote. The developer will continue to work with the Riverwalk Commission, and the proposal will need to return to the council for final approval.