Something I do each week is drive around Aurora and check on Aurora Development Corporation (ADC) properties. Between commercial and residential lots, ADC owns ground in five different areas of Aurora that I check. I drive around once a week for many reasons, but one of the highlights is seeing developments take shape over time, particularly in housing.
Currently ADC plays a supporting role in housing efforts as the Aurora Housing Development Corporation (AHDC) has hit the ground running since receiving Rural Workforce Housing Funds in 2021 and 2023. As a supporter of housing efforts, ADC mainly helps with some development costs, holding lots and office resources in updating housing materials.
One thing that always sticks out to me on my weekly drive, is how fast housing development can happen. One week there will be a basement dug, the next week concrete will be poured, shortly after that the walls start going up, and before you know it there is a stone with a new last name on it and a trash can, which is a sure sign that someone is living there.
Since I started driving around in 2020, there have been 9 new homes built in the Northridge subdivision, which is located north of the 4 Diamond Sport softball/baseball complex. In the Streeter Subdivision, which is everything west of Westfield Quality Care, there have been 27 single-family homes, 18 duplexes (36 living units), and a 12-unit apartment complex built in the last 6 years. This is an amazing amount of development for a community of less than 5,000 people.
Using average assumptions, this housing development has moved more than 180 people into Aurora. Now, I know that some of those people already were in Aurora, but the house they left was then opened for people moving into the community or up in housing. This is actually the scenario that we envision for the new duplex townhomes, built on Cottage Park Drive. We assumed people would move into these duplexes to downsize, which would open their previous larger home for families. In reality, most of those residents are new to the community, moving to Aurora to be centrally located to other family members.
Looking at the economic impact of this housing development, we know that in addition to increasing our population, this has also created $20.3 million in new investment in the community through construction costs. Additionally, with a median household income of $66,588 in Aurora, the economic impact of this new housing is adding more than $5.6 million to the local economy each year.
I am excited to see new housing and commercial development as I continue my weekly drive around Aurora. While it is easy to see commercial and business development happening in our community, it is important to remember that housing is also a key piece of community growth. Over the past 6 years, Aurora has excelled at housing development and that is a trend we plan to continue in the future.
