MOLINE -- Numerous local, state and federal partnerships were credited Wednesday for the completion of Moline Enterprise Live-Work Lofts.|
Wisconsin-based developer Gorman & Company Inc. and Renew Moline held a grand opening celebration Wednesday for the 69-unit loft apartment complex on the corner of 19th Street and River Drive in Moline.
In late February, a majority of the building was complete, and tenants started moving in. Enterprise Lofts are now fully leased.
In addition, Gorman has found a tenant for the 2,300 square feet of ground-level retail space on the southeast corner of the building. Gorman development manager Ted Matkom said the space will become a convenience store but did not specify what company.
Gorman broke ground for the $12.5 million apartment building on Nov. 22, 2010 -- about three years after it was first announced. The recession hit and delayed the project, and it was relaunched after the Illinois Housing Development Authority provided more than $10 million in federal resources, including stimulus funding, to build the lofts.
"There were many times we did not think this project would happen," said Moline Mayor Don Welvaert.
IHDA legislative liaison Charlotte Flickinger called the development a success and noted everyone was smiling at the grand opening, but it wasn't always that way. "This was a tough deal to get completed," she said. "There was a lot of gnashing of teeth and pulling of hair."
Janet Mathis, Renew Moline executive director, said the event was a celebration of partnerships, including those with federal and state legislators and agencies that provided funding, with the city and its staff, with the business community and the people living in the building and with Gorman. "Gorman is an outstanding developer and worked with us to find solutions to many obstacles," she said.
Debbie Dixon, Illinois market president for Gorman & Company, said the firm was proud to work with Renew Moline and said the organization is dedicated and tenacious about improving downtown Moline and its riverfront.
Gorman received 600 inquiries for the one-, two- and three-bedroom apartments ranging from 550 to 1,242 square feet. Ground-level loft units have individual entrances from the street into office space separated from a private living space, designed in case tenants want to run a business from their home.
The building includes a WiFi cyber lounge, a fitness center, a movie theater, a community room, a conference room and business center for tenant use.
This is Gorman's second project in Moline. In October 2006, the company opened the Old Moline High School Lofts at 1001 16th St.
East moline, IL Details
|(More Print Ads)|