Massive Downtown Oswego Development To Break Ground Next Week

OSWEGO, IL — Village officials and the Shodeen Group will break ground next week on the massive mixed-use development that could transform downtown Oswego. The $69 million project, in the works for years, will officially begin construction work on Tuesday, Nov. 5.

In February, demolition of the downtown site began to make way for the Reserve at Hudson Crossing, a development comprised of two, six-story buildings. Crews for the village began this fall working on public improvements, including utility work and improved streetscapes, for the development project.

Earlier this month, developer Shodeen Group announced it has secured financing for the project. Now, the company will begin constructing the development, with a groundbreaking slated for 4 p.m. Tuesday at the site near Jackson and Main streets.

When completed, the Reserve at Hudson Crossing will compromise two buildings holding luxury apartments, retail space, restaurant space, free public parking and improved downtown streetscapes. The development is being built on the former site of the Alexander Lumberyard on Washington Street.

Public improvements will be completed by November 2020, with the parking deck expected to come online shortly after that, according to the village. The first phase of construction will include the south building, which will hold 176 apartments, over 10,000 square feet of retail space along Washington Street, and a restaurant along Washington Street.

That phase will likely be completed by summer 2020, according to the village. The second phase building, comprising more apartments and parking, will be come online after that.

Street closures, announced earlier this month, will remain in effect indefinitely as crews begin work. Sections of Adams, Jackson and Harrison streets will be impacted by the work.

Plans for Hudson Crossing were approved in 2017, with the village agreeing to contribute $7 million in funds that are eligible for reimbursement through a tax
increment financing district. The village will eventually own the development's parking decks.