River Street Plaza Celebrates New Ownership
Centrue Bank, along with Pilmer Real Estate and Dolan & Murphy, Inc., held a ribbon cutting on Friday, Sept. 27 to celebrate the recently completed Riverfront path and the grand re-opening of the River Street Plaza in downtown Aurora.
The property, located on the 100 block of South River Street, began construction in 2006 and houses 93 residential condominiums and 46,000 square feet of commercial retail space. After the death of the property’s developer, Joe Vantreese, in 2011, the project was in need of new leadership to carry out the original vision.
Despite the ups and downs of the economy over the past few years, Centrue took steps uncharacteristic of most banks and engaged local professionals to work alongside the bank to assure that existing and future residents of River Street Plaza would enjoy this urban diamond for years to come. Centrue arranged end loan financing for purchasers and became active in the City’s longstanding efforts to add even more local attractions for the visitors and residents of downtown Aurora.
Commenting on the project, Jason Penman, market president at Centrue, remarked, “We don’t just want to say we’re a community bank. We want our actions to support that. When the exceptionally well-conceived and well-designed riverfront condominiums at River Street Plaza needed new sponsorship, we saw that as both an opportunity and a responsibility. We’ve worked closely with the Mayor of Aurora and his staff to assure that River Street Plaza fulfills the promise and excitement it generated when it was first constructed.”
Bill Wiet, chief development officer for the city of Aurora, previously recognized Centrue as “team players who lend their time and talents to making Aurora a better place to live and work.” “Centrue Bank saw the completion of this project as a priority, and now the residents and businesses at River Street Plaza, the downtown in general, and the City of Aurora as a whole are much appreciative.”
The ribbon cutting brought out several notable Aurorans including Arlene Hawks, executive director of SciTech, several Aurora aldermen, city staff, chamber of commerce dignitaries, and more. Local food vendors Doughballs Pizza, Colonial Cafe, and Jimmy John’s were also on hand with complimentary food for guests. The event was open to the public, and local musician Greg Boerner performed.
Mayor Tom Weisner spoke to the crowd and said it’s a great day for the city of Aurora. “Onward and upward,” he said in closing.
Centrue operates a lending office at 8 Galena Boulevard in Aurora across from the Paramount Theater.
Centrue Bank is a wholly owned subsidiary of Centrue Financial Corporation. Centrue Financial Corporation is a regional financial services company headquartered in St. Louis, Missouri and devotes special attention to personal service. The Company serves a market area which extends from the far western and southern suburbs of the Chicago metropolitan area across Central Illinois down to the metropolitan St. Louis area.
Further information about the Company is available at its website at http://www.centrue.com.