AURORA — Kimco Realty Corp. (NYSE:KIM) will begin a $14,500,000 redevelopment of Village on the Park shopping center in Aurora, this fall. The southern portion of the center will be demolished and rebuilt and is expected to be complete summer 2019.
Kimco has signed a lease with Old Navy to occupy a 13,800-square-foot space in the new section. It has also signed a lease with America’s Best Contacts & Eyeglasses to fill a 3,515-square-foot space on the pad adjacent to TJ Maxx. Demolition of the pad’s former building is complete, and the under-construction America’s Best is expected to open this year.
“As long-time owners of Village on the Park, we want nothing more than to see the center and the surrounding area thrive,” said Rick Turner, director of Real Estate at Kimco Realty. “The coming changes will not only breathe new life into the shopping center, but attract new businesses as well. Old Navy and America’s Best Contacts & Eyeglasses are the first of several tenants, national and local, to join the redeveloped portions of the center. Stay tuned for more updates, including a new dining option, in the coming months.”
As part of the redevelopment, Kimco Realty will demolish and reconstruct the four currently vacant retail spaces south of Ross Dress for Less. Occupied spaces to the north of Ross Dress for Less and the pad site containing US Bank and Jersey Mike’s Subs will remain intact.
Situated at the gateway of the Havana Retail District, Aurora’s strongest retail corridor, Village on the Park is located at the intersections of Parker Road, Havana Street, and Iliff Avenue, just six miles south of Aurora’s city center. The 179,862-square-foot retail center serves as a shopping and dining destination for the more than 80,000 households within a three-mile radius of the property.