Dirt is being moved and the surrounding streets are being revamped in Oswego.
This week, there was another shovel-throwing-dirt ceremony by Oswego Village officials, trustees and Shodeen, Inc. of Geneva, the $69 project developers.
Two questions have been on Oswego residents’ minds about the luxury apartments, public parking deck, and business development that was started in planning three years ago.
First, architects and developers have plans that will disguise the six stories of the building at Washington, Harrison, Jackson, and Adams streets as Shodeen President David Patzelt explains.
Next on the concern list has been flooding since the building is located near the Fox River and Waubonsie Creek. Only a small part sits on a flood plain and first-time storm water drains and piping will assist.
Oswego Village Administrator Dan DiSanto said the building sits below the slope of downtown Main Street, adding that the view from there will only show a small upper part of the building. He said residents will become use to the size, much as they did when the Tap House located across Washington Street was built. From the west coming into Oswego, the Reserve will blend with the Tap House and the roof levels of higher Main Street buildings, he said.
Oswego Village President Troy Parlier responded to this WSPY question after the ground-breaking ceremony.
While the building lies in the village’s tax increment financing district or TIF with 20 years remaining, other village taxing bodies like the school district will receive only the frozen taxes assessed on the vacant land, not the original lumber yard building, office, or large storage facility along Jackson Street. After 20 years, there will be an expected large increase in tax dollars when the TIF expires.
But one of the biggest project’s announcements came from Patzelt, who said his firm has a major (non-national chain) DuPage County restaurant ready to agree to locate in the building. He said the building’s first floor could have as many as eight retail-office spaces.
Patzelt said the covered public parking garage will be constructed first, adding that completion is expected this spring.