(To read more on the multifamily market, click here.)

AURORA, IL-Geneva-based developer Sho-Deen Inc. has nearlydoubled the scope of its proposed development, to be called EastBank in downtown Aurora. The proposed development now spans 34acres and includes plans for between 900 and 2,000 new residences,a hotel and up to 225,000 sf of retail and commercial space. Thetotal value of the development will possibly be more than $600million, company president David Patzelt tells GlobeSt.com.

The proposed development site is bordered by the Fox River tothe west, East Benton Street to the north, South Broadway to theeast and North Avenue to the south. Last year, plans were presentedfor more than 1,000 residential units, a hotel and up to 125,000 sfof commercial and retail space on a 27-acre site. The previousvalue of the project was more than $200 million. Sho-Deen signed acontract six to eight months ago for the additional 7 acres,Patzelt says.

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