Financing is secured, permits have been issued, and construction is expected to begin in early November in downtown Oswego.
Tuesday, the Village of Oswego government announced that the Shodeen Group has closed with its financer on the first phase of The Reserve at Hudson Crossing, the $69 Million six-story, two-building development that will bring luxury-apartment living, experiential retail, restaurant space, free public parking decks and street improvements, all to the site of the former Alexander Lumberyard on Washington Street in downtown Oswego.
Excavation and utility work on the site are expected to begin in early November, and public improvements should be completed by November 2020. The public parking deck is expected to be completed by the end of 2020, and the apartments, retail, and restaurant spaces are expected to be completed by Summer 2020.
“We are very pleased for this day to come,” said Village president Troy Parlier. “This culminates a great deal of time and effort by many people on all sides. Big thanks go to our past Village Board and president Gail Johnson, our administration, and current board. A special thanks to H. Linden Construction and Shodeen for the new developments they will bring to our downtown and community.”
Throughout the Spring and Summer, the Village secured State and Federal plan approvals and contracted with H. Linden & Sons for public improvements, including the complete reconstruction of Adams, Jackson, and Harrison Streets, burying overhead utility lines, plus necessary water and sewer infrastructure.
“What we have here in Oswego is the opportunity to build something very special in a great downtown riverfront setting,” said Shodeen president Dave Patzelt. “I am excited and pleased to say that after all of the planning work by so many people, we are now officially starting the construction phase on this mixed-use building that will be a tremendous asset to downtown Oswego.”
The first phase of the two-phased project includes the south building, which will feature approximately 175 luxury apartments, 10,000 square feet of retail along Washington Street, a restaurant with outdoor dining along Washington Street, and completely reconstructed streets with benches and other amenities. In addition, parking decks on the lowest floors of the development will continued to be owned by the Village and will provide approximately 320 spaces of free covered parking for downtown shoppers and diners.
Stay tuned for street closure information:
Street closures on sections of Adams, Jackson, and Harrison Streets throughout downtown Oswego are anticipated to begin within in a couple weeks as construction starts. Get construction updates, including street closure information and more, straight to your inbox by signing up for E-mail alerts from the Village of Oswego. Visit www.oswegoil.org and click on the blue Email Alerts button.
Across Washington Street, Block 11 is already under way:
The Reserve at Hudson Crossing will be the second project to break ground in downtown Oswego this Fall. In September, Parlier and Mike Mann, director of development at Yorkville-based Imperial Investments, broke ground on a three-story mixed-use development of first-floor retail and upstairs office and residential space on the former Village Hall site.
Get up-to-date on what’s new in downtown Oswego:
More information on downtown Oswego’s new developments, including maps of the new projects and anticipated street closures, is available at www.goOswego.org/coming-soon.
—Village of Oswego