Rockford-based Urban Equity Properties held a groundbreaking ceremony to mark construction of the Keystone Building Lofts, the multi-unit redevelopment of the historic Keystone Building at 30 S. Stolp Ave.
This is the development company’s second project recently in downtown Aurora. Urban Equity Properties is also renovating The Terminal Building at the northwest corner of Broadway and Galena Boulevard.
“We are honored to break ground on our second project in Aurora,” said Justin Fern, founding principal. “This has been a tremendous experience to play a pivotal role in the urban resurgence happening downtown. And playing that role by redeveloping one of the most recognizable buildings in the city makes it even more special for Urban Equity Properties and the people of Aurora,” he said.
The four-story Keystone Building was built in 1922 as the Joseph George and Newhall Building. It underwent a face lift after the Aurora Silver Plate Company relocated, a move that saw part of the building demolished and a new wing incorporated into the new structure.
The building was added to the National Park Service’s National Register of Historic Places on March 18, 1980.
The ground floor comprises six retail spaces while the upper floors were divided into office suites. As the Keystone Building Lofts, the upper floors will feature 30, one-bedroom luxury apartments. Each will have high ceilings, granite counter tops, hardwood floors, stainless steel appliances, and in-unit laundry facilities. Elevators will be updated and tenants will have their own private lounge. The ground-floor retail tenants will be retained, and currently include Do or Dye Designs, Pure Skin Solutions, If These Walls Could Talk, Wardell Art Glass Studio, and Christian Science Reading Room.
Construction is scheduled to be completed by Dec. 31, 2020. Lofts on Broadway are currently under construction at 2 N. Broadway.
Photos by Amy Nelson Photography