Enhanced Capital proudly partnered with Fox Valley Developers, LLC to help finance the $118 million redevelopment of the Copley Hospital campus in Aurora, IL. The property, abandoned in 1995, is being redeveloped into an innovative mixed-use community, thanks in part to Enhanced Capital’s investment.

Enhanced Capital provided financing through a bridge loan secured by Historic Rehabilitation Tax Credits and contributions from the City of Aurora, Illinois’ Energy Conservation Authorities’ Property Assessed Clean Energy (PACE) program, and equity to monetize Illinois River Edge Historic Rehabilitation Tax Credits.

The redevelopment of the Copley Hospital campus offered senior housing for those seeking independent, assisted-living, and memory-care options with services provided through Gardant Management Solutions. Additionally, the campus will include an independent apartment community serving adults with developmental disabilities; thoughtfully modeled after similar successful apartment communities across the country.

In addition to a 1+ acre park, the campus will also provide office space for healthcare providers and community resources to restore medical services to the area and administrative offices for the East Aurora 131 School District.

The campus will create nearly 500 construction jobs and 228 direct full-time jobs. It has already received significant community support and cooperation from the City of Aurora, Invest Aurora, East Aurora 131 School District, and the Fox Valley Park District.

The PACE financing provided by Enhanced Capital will allow the campus to incorporate extensive energy efficiency measures in the rehabilitation process. The improvements project energy savings of nearly 13,000,000 kBtu (kilo-British thermal unit) per year and operational cost savings of $126,000 per year.