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| RiverStone Complex taking Shape |
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March 7th 2008 - By Lee Provost
815-937-3364
When the Hilton Garden Inn and adjoining conference center opened on Kankakee's south side in September 2004, it stood like an island as motorists on Interstate 57 passed by. The complex now has some company and more is on the way, said Darrell Pike, president of Precedent Real Estate. Precedent has headed the RiverStone of Kankakee development planned for the past several years on the city's far south side.
Pike said a 21,000-square-foot shopping center that will be just west of Wal-Mart is 80 percent leased and should break ground by mid summer. He said the second phase of the shopping development -- a 30,000- to 35,000-square-foot complex -- is already in the planning stage.
At Thursday night's open house of the new Wal-Mart, Pike said the national retailer will be the engine that drives the entire RiverStone project. "This is fabulous and it has been a long-time in coming," Pike said. "But this is just the start of good things to come.''
Wal-Mart is anticipated to pump $300,000 annually into the city's budget in sales tax. Kankakee Mayor Donald Green said the city has been waiting patiently for this day to come. The city began discussing transforming about 900 acres of farm ground into a retail/commercial complex since the mid 1990s when an Indianapolis, Ind.-based developer first approached the city about an outlet mall. The outlet mall never happened, but it did bring the area to the attention of Precedent.
"We've certainly had a lot of hurdles to overcome. Twelve years later this area is a success," Green said. "This will be the city's retail center for years to come. I'm very pleased for the city and its citizens." Those who landed a job at Wal-Mart share the mayor's enthusiasm. Debra Burns of Kankakee, who will be a customer service supervisor, couldn't wipe the smile off her face Thursday night. "I can't wait for tomorrow (Friday)," she said. "I can't wait for that ribbon to be cut and get started. I plan on being here for a long time." |
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