Renaissance & GOldman Lofts
126 18th Street & 1625 2nd Avenue, Rock Island, IL
Units: 52 Residential, Preservation of Affordable Housing
$4.5 Million Refinance, of which $2 Million in New Investment
15 years ago, GROWTH completed its first ever mixed-use development downtown Rock Island. Two large properties, the Goldman Building and Renaissance Building, located 1 ½ blocks from each other, were rehabilitated and developed in to a total of 52 contemporary loft apartments.
Today, the Goldman-Renaissance project exited out of its tax credit compliance period in 2017. The development still maintains an average 96% occupancy rate and waiting list. This is credited to the development’s unique floor plans, which total 14 between the two buildings.
The $4.5 Million refinance includes about $2 Million in new investment.
Work is planned to commence in 2018.
Above: Exterior of Renaissance Lofts and Goldman Lofts
Below: Interior apartment of Goldman Lofts living area and Renaissance Lofts apartment kitchen.. The refinance includes new investment to maintain and update the exterior and interior areas of the building and includes updated mechanicals, HVAC, cabinets, countertops, flooring and exterior windows.