At his March 7 “State of the City” address in Revv Aviation’s hangar, Aurora Mayor Richard C. Irvin announced two major public-private projects.
“Since arriving to the airport in 2021, CL Enterprises has been the ideal partner,” said Aurora Mayor Richard C. Irvin to a crowd of over 500 people gathered in the Revv Aviation hangar. “Not only has CL Enterprises already made a significant investment here, its visionary leaders will invest tens of millions more to modernize the airport and expand its operational capacity.”
The mayor went on to say that “CL Enterprises has extended its reach into Aurora with another major investment in the downtown that will transform a vacant riverfront property into a new bar, restaurant and contemporary event space.”
The $5.6 million restaurant development will be located at 43 E. Galena Blvd. across the river from the Paramount Arts Center. The project consists of a Tangled Roots bar and restaurant, an events space, and an outdoor plaza. The design will be unique and fun and will accommodate about 250 guests.
“CL Enterprises will invest $4.1 million in construction and buildout costs,” said Peter Limberger, Chairman of CL Enterprises. “We will create 100 union and prevailing wage construction jobs and when operating, the restaurant will employ 60 to 80 staff.”
The City of Aurora will invest $1.5 million in a grant and forgivable loan in the project.
Also announced by Mayor Irvin on March 7, is a multi-phase $25-30 million public-private-partnership (PPP) with CL Enterprises for a major airport development project that includes a new international terminal building with a 24-hour, 7-days-a-week U.S. Custom’s facility, a restaurant, offices and hangars. Monies for this project will come from federal, state, local and the private investment, again from CL Enterprises.
The new corporate and maintenance hangars will accommodate large jets such as Gulfstreams. Revv Aviation, CL Enterprises’ aviation business, will pre-lease the hangar space prior to construction.
“We committed to investments of $10 million at the airport when we acquired Lumanair in August 2021; the planned development project will put us well over that figure,” said Limberger. “This airport is a jewel and is conveniently located – only one stoplight away from Chicago’s Loop -and will become an economic engine for Aurora, Sugar Grove and Kane County. We are thankful for the trust in our work and are looking very much forward to this long-term partnership.” According to a March 1 article in Aviation International News, hangar development projects are dwindling despite the growth in private aircraft fleets.
“We see the same challenge at all our FBO locations,” said Limberger. “We can help alleviate that problem in Aurora with this public-private partnership that we are engaged in with the federal, state and local governments. Our vision is to be good stewards of aviation for the next 100 years; we want to make aviation accessible to people everywhere. Together, we will transform the Aurora Airport and propel the city and economy to new heights.”