Kimco Realty Corp. is planning a $14.5M redevelopment of its Village on the Park shopping center in Aurora.

The southern portion of the 179,862 SF center at the intersections of Parker Road, Havana Street and Iliff Avenue will be demolished and rebuilt. Groundbreaking is scheduled for this fall, with completion expected next summer. Old Navy will occupy a 13,800 SF space in the new section. America’s Best Contacts and Eyeglasses has signed a lease for 3,515 SF on the pad adjacent to TJ Maxx. Demolition of the pad’s former building is complete and the under-construction America’s Best is expected to open later this year.

“As longtime owners of Village on the Park, we want nothing more than to see the center and the surrounding area thrive,” Kimco Director of Real Estate Rick Turner said. “The coming changes will not only breathe new life into the shopping center but attract new businesses as well.”

As part of the redevelopment, Kimco will demolish and reconstruct the four currently vacant retail spaces south of Ross Dress for Less. Occupied spaces to the north of Ross and the pad site containing US Bank and Jersey Mike’s Subs will remain intact.