A proposed indoor climbing facility that will convert a shuttered water park attached to the One Arlington residential tower in the Arlington Downs development will be getting a tax incentive. This could help kick-start the redevelopment into a destination indoor rock climbing facility.
The Daily Herald states that a $4.5 million purchase and renovation of the former 42,000 square foot CoCo Key Waterpark into a First Ascent recreational climbing venue is contingent on the approval of the Cook County Class 7c property tax break. This tax break is pending review by county commissioners after it was endorsed last week by the village board.
First Ascent will offer the following:
- 28,000 Square Feet of rock climbing terrain
- Yoga classes
- State-of-the-art fitness equipment with personal trainers
- Locker rooms with showers and changing area
- Free, dedicated parking in a newly constructed parking garage adjacent to the building
- Pro shop with all of the climbing gear and FA schwag
There will be four First Ascents in Chicago and one in Peoria. The climbing gym also would be an anchor in the Arlington Downs mixed-use redevelopment at the northeast corner of Euclid Avenue and Rohlwing Road.
"The climbing industry has been growing as an entertainment venue. There are not many climbing facilities in this large of a space in this market. This would be a big plus for the area and for the development in bringing people in from a large area."
Arlington Heights' director of planning & community development | Charles Witherington-Perkins
The old water park is attached to the One Arlington residential tower which used to be a Sheraton hotel that was closed in 2009.
Developer Springbank Real Estate Group's latest plans for the 27 acre site, including the climbing facility, were approved by the village board in 2018. But Witherington-Perkins First Ascent's contract to buy the former water park and land to the west for a 175 space parking garage was continued until the county tax incentive was approved.
According to the Village officials, the fitness facility, once developed, would easily recoup the five-year property tax reduction.
Renovations could begin by next spring and ready for occupancy by next summer or early next fall.
At the same time, construction could be finishing up on a five story, 263 unit apartment building on the southeast corner of the Arlington Downs site.
Plans are also in the works for a four story, 116 room hotel near the Euclid Avenue/Rohlwing Road intersection. It will go under the brand of Best Western's urban boutique hotel concept Vib.
A real estate brokerage firm is marketing about 40,000 square feet of retail space thoughout the development site.
A 55 and older residential building on the southeast corner of the site and a 360 unit residential development on the northwest corner are also being proposed for future phases.
According to First Ascent Climbing, the renovation is part of the $200 million Arlington Downs redevelopment. The 28,000 square feet of climbing terrain up to 55 feet tall will feature top rope climbing, lead climbing and bouldering for all ability levels from new climbers to seasoned experts.
