County Economic Development Corporation, the Champaign County Regional Planning Commission and the Village of Rantoul. “As the park grows, it connects us more and more with the community,” Frerichs said. “We are now able to build outside Research Park and expand our mission.” Since Research Park’s first building opened in January 2001, eleven more buildings have been completed. The construction of a thirteenth building is underway. A total of 603,721 square feet have been constructed with a total construction cost of $101,785,249 ($63,385,675 funded by a private sector developer and $38,399,574 funded by the university/public sector). Research Park’s evolution has been largely influenced by its relationship with Fox/Atkins Develop-
ment, LLC. A partnership formed by local businessmen Peter Fox (of the Fox Development Corporation) and the late Clint Atkins (of the Atkins Group), Fox/Atkins was solely responsible for transforming the land from fish ponds, agricultural and livestock barns to a “thriving, supportive environment for the modern tech entrepreneur”. “Having them partner with the University 10 years ago was really critical to being able to even move forward with the vision and the dream,” Ed McMillan, chairman of the Board of Managers for the Research Park and a University of Illinois trustee, was quoted in the Research Park’s 10-year publication. As Research Park steps into its next 10 years of development, Fox/Atkins will continue in its role of strategic expansion.
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The next phase of development, on the east side of First Street, includes more than 160 acres of additional land. A new master development agreement was signed in May 2011 to continue further development in research park. “Our hope is that we’ll have that land totally utilized 10 years from now,” McMillan said. “We’re excited about Research Park and we’re excited by the next 10 years.”