Kankakee Riverfront Master Plan

 

March 29, 2019

Kankakee Riverfront Master Planned Area

Formulated with broad community involvement
and with the professional guidance of Hitchcock
Design Group, the Kankakee Riverfront Master
Plan was adopted by the Kankakee City Council in
July 2018. The document sets forth an ambitious
10-year strategy to reposition this key area as an
unparalleled regional attraction and a catalyst for
Kankakee’s renaissance as a premier Illinois riverfront
community. This vision will be achieved through the
development of the Kankakee Riverfront Trailways
and a multidimensional Kankakee Riverwalk.

 

 

 

 

 

 

Completed in 2017, the $16M, 70-unit River Station Senior Senior Apartment development was a joint effort of the City of Kankakee, Mercy Housing Lakefront, the Kankakee County Housing Development Corporation and then-Presence St. Mary’s Hospital (now AMITA Health), with participation from the Kankakee Valley Park District and Community Foundation of Kankakee River Valley. The project aligns affordable living with accessibility and support for healthy aging.

INVESTMENT OPPORTUNITY 14,600 SF mid-1800s stone building in view of the Kankakee
River. Formerly a banquet hall and full-service restaurant. Within Kankakee River Valley Enterprise Zone and New Markets Tax Credit boundaries.

                   

Included in the Kankakee Riverfront Master Plan
are provisions and strategies for land use, economic
development, design, financing and brand awareness based
on detailed market, existing conditions and opportunity
analyses. Prioritized uses include mixed use commercial,
multi-family residential, varied recreational amenities and
complementary business services.
By 2028, projected direct, indirect and induced economic
impacts of the fully executed Kankakee Riverfront Master
Plan include:
• $2.3 million in new TIF tax revenue
• Support of approximately 348 one-time, constructionrelated
jobs
• Generation of approximately $66 million
of one-time, construction-related impact
• Support of approximately 133 non-construction jobs
• Approximately $12 million of annual recurring economic
impact
A cross-functional Riverwalk Implementation Team is
currently working to execute on the KRMP document. The
City of Kankakee has secured funding and begun property
acquisition in the proposed Mill Race District.