Aurora Plaza May Become Biggest Asian Shopping Center In U.S.

AURORA, IL — A real estate developer has put forth a proposal that would transform Aurora's Yorkshire Plaza into the biggest Asian shopping center in the United States. Pacific Square LLC has proposed to drastically revamp the shopping plaza, which is located west of Rte. 59 and north of E. New York St., with Asian-oriented stores and restaurants, Chicago Tribune reports.

The 360,000 square foot Yorkshire Plaza is currently home to Best Buy, Planet Fitness, Pier 1 Imports, and other shops and restaurants. It is not clear how the proposed revisions would impact these businesses.

If the city strikes a deal with Pacific Square LLC, residents could see the addition of an outdoor garden, a grocery store, a food court, and beauty and spa services.

David Dibo, executive director of the city's Office of Economic Development, said in a memo that he views the proposal as a "timely and extremely creative means" of tackling the issue of empty retail spaces along Rte. 59, Chicago Tribune reports.

Nothing has been officially planned, but city officials have begun discussions on incentives and inducements for the proposed project. These would potentially include imposing a sales tax of up to 1% at the proposed shopping center, according to Chicago Tribune, and working on a shared sales tax agreement with the Pacific Square LLC.

These inducements could total up to $15 million, something the city hopes would reap significant economic benefits if Aurora becomes home to the country's biggest Asian shopping center. Dibo told Chicago Tribune, "They're talking about a development in the magnitude of $100 million."

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