Enterprise Work-Live Lofts
Gorman and Company, the City of Moline and Renew Moline held a ground breaking ceremony on 11/22/2010 for the new Moline Enterprise Work-Live Lofts – a $12 million housing initiative that will be the home to 69 new apartments and up to 3,000 square feet of retail space.
Located at the corner of River Drive and 19th Street in downtown Moline, the new loft apartments will be conveniently located within a few short blocks of the Bass Street Landing, the 5th and 6th avenue retails areas and the Deere & Company’s IT Center.
Closing on the property acquisition was on Thursday, November 18, and the lofts should be completed by the spring of 2012.
“The Moline Enterprise Work-Live Lofts represent one more important step in our plan to create a dynamic downtown along the riverfront,” said Moline Mayor Don Welvaert. “I want to thank Gary Gorman and the Gorman & Company for its dedication, expertise and vision, without which we would not be standing here on this exciting groundbreaking day.”
“Once again, we enthusiastically welcome Gorman & Company to downtown Moline. This project will both continue our progress toward the renewal of downtown and enhance the quality of life and work on our riverfront,” said Mayor Welvaert.
Gary Gorman, President and Founder of Gorman & Company, said that after looking at various locations “downtown Moline met our vision for the future.” “We very much look forward to being a part of the positive plans for downtown Moline and the riverfront,” he added.
Mr. Gorman said the new loft apartments will be “an integral component of a high-tech urban live-work community and a catalyst for folks who work out of their homes.”
Mr. Gorman said the 69 residences will include a full range of amenities including a conference room, a theater designed to accommodate multimedia presentations, a fully equipped business center, a cyber café and a penthouse community room with an outdoor deck.
“Moline Enterprise Live-Work Lofts demonstrate how federal stimulus dollars are an effective financing tool to increase affordable housing options for working families, and create jobs to advance Illinois’ economic recovery,” said Gloria L. Materre, IHDA Executive Director. “IHDA is proud to play a critical role to ensure Moline families can live affordably near their workplace, and put the transportation cost savings toward other expenses.”
The building is four stories in height with a mix of 41 one-bedroom, 41 two-bedroom and eight three-bedroom apartments ranging in size from 680 to 1,350 square feet. The 13 ground-level units will each have an individual entrance operating from the street into an office space separated from its private living space. An additional 3,000 square feet of ground-level retail space will be made available on the highly visible southeast corner of the building.
Tom Robinson, President of Renew Moline, said this project represents one more “positive step in a series of positive steps for downtown Moline.”
“Today is one more example of how we successfully manage development in downtown Moline. Our success formula is a careful balance of a vision plan, a strong public-private partnership and securing critical funding with a strong emphasis in execution and implementation”.
“With the expansion of Willis HRH, with the final phase of Bass Street Landing and the KONE Centre tower and the fully funded Amtrak Station and passenger rail service to Chicago; and the build out of Western Illinois University-Quad City Riverfront Campus – Moline is on the move. And many people will be making the move to downtown Moline thanks to these new enterprise lofts,” said Robinson.
Mr. Robinson said the new housing initiative is an example of another “positive, creative and constructive public-private partnership that will yield very positive results for downtown Moline and the riverfront and the Quad City Region.”
Mayor Welvaert said that Gorman & Company enjoys a strong reputation for creating successful residential communities including the recently opened and completely full Old Moline High School Loft Apartments. Gorman’s popular Park East Enterprise Lofts in Milwaukee serves as the model for the new loft apartments in Moline.