There was an urgent need to act quickly, as the campus was rapidly deteriorating from exposure to the elements, vandalism and decay. To remove all safety hazards, remove blight from the neighborhood and prevent the total collapse of the property and its historic structures, Fox Valley Developers is stabilizing and securing the site.
Due to the condition of the buildings, it was not possible to complete accurate final architectural and engineering plans. As the demolition, remediation and preservation work is completed floor by floor, these plans and concepts will be refined by the project team.
This initial phase is expected to finish in Spring 2019 and cost between $12-16 million to complete. Fox Valley Developers is responsible for all of this upfront work and expense.
Only, after the campus has been deemed clean of environmental hazards to the satisfaction of local and state environmental regulators, the developers will be eligible for up to a $3 million reimbursement. The City will not reimburse any phase one costs until the remediation work has been successfully completed by Fox Valley Developers.