AURORA, IL — A $53 million residential development will be built on the west bank of the Fox River, adding 160 rental units to downtown Aurora.

Approved by City Council Feb. 8, the project is the second residential development deal within three months of green-lighting a $78 million, 246-apartment deal along the Fox River. The development will occupy 3.3 acres south of the new pedestrian bridge and be located across the river from the other complex.

The new project, at 309 N. River St., will include 160 rental units — a combination of 140 apartments and 20 townhomes. Apartments will range from studios to one-, two- and three-bedroom units, and city documents show the property will have central recreational amenities and parking. The agreement also includes the potential for stores and restaurants to occupy the first floor of the building.

Windfall Group, the firm helming the project, will continue the planning and approval process along with city officials throughout the year, and plans for final permitting and groundbreaking are expected in the spring of 2023.

This isn’t the first Aurora project for Windfall Group. The firm also built Pacifica Square on Aurora’s far east side. Of Pacifica Square, city officials noted in an announcement Sunday that Windfall “revitalized the property with more than two dozen new businesses in two years.”

Together with the previously approved project, the two developments will bring more than 400 residential units “in areas that have been overlooked and underutilized,” city officials said in an announcement Sunday.

RELATED: Development Of $70 Million Apartment Complex Approved For Aurora