ECONOMIC GROWTH CORPORATION
  • About
    • Who We Are, What We Do
    • Meet the Team >
      • Brian Hollenback, President/CEO
      • Cindy Berg, Chief Financial Officer
      • Beth Payne, Senior Vice President
      • Carey Jorgensen, Director of Property Management
      • Andrew Fisher, Construction Director
      • Kerry Mangelsdorf, Office Manager & IT Support
      • James Jones, Housing Manager
      • Frank Perez, Financial Education Coordinator
      • Alex Stockwell, Controller
      • Kate Lackey, Accounting Assistant
      • Malory Jensen, Receivables and Grant Coordinator
      • Madison Prater, Accounts Payable Coordinator
      • Heather Starr, Executive Assistant
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  • Subsidiaries
    • Central States Development Partners, Inc.
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Northside Lofts

Northside Lofts

205 N College Avenue, Aledo, Illinois
Northside Lofts is the long-anticipated adaptive reuse and revitalization of the former Aledo Junior High School in Aledo, Illinois. Located at 205 N. College Avenue, the long-vacant 1922 school building will be transformed into a 30-unit workforce housing redevelopment that blends historic preservation with new construction. With Aledo’s growth and ongoing efforts to expand housing options, Northside Lofts will serve as a cornerstone in meeting the future housing needs of the local workforce.

With a hard construction investment of more than $11.5 million, Northside Lofts will deliver high-quality, energy-efficient rental units designed for working families and individuals. The redevelopment includes the adaptive reuse of the existing three-story building into 24 apartments and the new construction of an adjoining wing to create an additional 6 units. The unit mix will include studio, 1- Bedroom, and 2-bedroom layouts, all equipped with Energy Star appliances, in-unit washer and dryers, and designed for accessibility with seven accessible units, and all units 100% adaptable.


Since 2021, GROWTH has been actively collaborating with the City of Aledo and Windborn, a local community champion. Windborn took the proactive step of acquiring the former school property and strategically held the historic community asset until December 2023. At that point, GROWTH acquired the property from Windborn at a substantial discount, underscoring our shared commitment to a unified community vision. This shared vision is rooted in revitalizing and repurposing the historic school into an affordable, high-quality multifamily development tailored to the needs of residents and the local workforce. 
​

Construction will start in 2026 with a move-in expected in early 2027.


Efforts to redevelop the site began in 2021, led by Windborn and the City of Aledo, community champions of the Northside Lofts redevelopment effort. Windborn acquired and landbanked the former school, conducted clean-out efforts, and preserved the building until its acquisition by GROWTH in December 2023. The discounted price led to additional resources for the school’s redevelopment through State Donation Tax Credits. The City of Aledo further supported the initiative through $250,000 in Tax Increment Financing (TIF). Both entities submitted strong letters of support that exemplified their passion to move the redevelopment forward.

The project garnered widespread community backing, including strong letters of support from Senator Neil Anderson, Representative Norinne Hammond, Aledo Main Street, Mercer County Better Together, MercyOne Genesis–Aledo, ProjectNOW, Warren County Public Transportation, and local realtors. Their collective support reflects a unified community vision, linking ongoing, community-driven efforts throughout Aledo with the transformation of this historic building into a lasting community asset.

Preliminary Wait List

Interested in living in Northside Lofts? Submit your information on this preliminary wait list. The expected move in is 2027.
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“Northside Lofts is not just about housing, it’s about honoring its past while investing in the future of Aledo,” said Mayor Chris Hagloch. “The level of support and collaboration behind this project shows just how committed our community is to revitalizing the former Aledo Junior High School. This development is a major step forward in strengthening our city’s housing options, community connections, workforce readiness, and overall quality of life.”
Interior Amenities- Historic Gym Conversion
The historic gymnasium will be transformed into a multi-use center filled with innovative amenities to foster a sense of community among residents, surpassing what is currently available in the Aledo market. These innovative amenities will be enclosed within the gymnasium by glass walls, offering an open atmosphere while adhering to historic rehabilitation standards, and include:
  • Co-Workspace
    • Dedicated communal workspaces to support remote work and productivity.
  • Indoor Fitness Area
    • A designated space within the development where residents can engage in various fitness activities indoors.
  • Bike Share Program & Dedicated Bike Storage
    • A bike-sharing program will be implemented where residents can access and return bikes conveniently for short trips around the community while providing secure storage for personal bikes.
  • Gaming Lounge
    • Catering to diverse gaming interests with areas for traditional board games and tabletop gaming.
  • Property Management Office
    • An onsite office where residents can visit for inquiries, assistance, and serving as a central point of contact for residents and property management staff.
  • Tenant Services
    • Access to HUD-certified housing counseling and rental assistance programs for residents facing financial difficulties.​
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​​Exterior Amenities
  • Playground:
    • A designated area equipped with a playground, providing a safe and enjoyable space for residents and families to add engagement and socialization.
  • Basketball Court / Pickleball Court:
    • A basketball and pickleball court offering residents.
  • Community Garden:
    • An outdoor space to encourage residents and green practices.

100 19th Street, STE 109
Rock Island, IL 61201
309-794-6711
​[email protected]
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Economic Growth Corporation and its subsidiaries are Equal Opportunity Providers.

Fair Housing/ Equal Opportunity Statements:
We are pledged to the letter and spirit of U.S. Policy for the achievement of equal housing opportunity throughout the nation. ​​In accordance with federal law and the U.S. Department of the Treasury policy, Central States Development Partners, Inc. is prohibited from discriminating on the basis of race, color, national origin, sex, age or disability.  

Conflict of Interest Statement:
Economic Growth Corporation and its affiliates (collectively, GROWTH) require staff and members of the Board of Directors to comply with all applicable federal, state and local laws, rules and regulations pertaining to GROWTH’s activities, to conduct themselves ethically and with integrity; and to avoid any conflict between their own interests and the interests of GROWTH. 

  
  • About
    • Who We Are, What We Do
    • Meet the Team >
      • Brian Hollenback, President/CEO
      • Cindy Berg, Chief Financial Officer
      • Beth Payne, Senior Vice President
      • Carey Jorgensen, Director of Property Management
      • Andrew Fisher, Construction Director
      • Kerry Mangelsdorf, Office Manager & IT Support
      • James Jones, Housing Manager
      • Frank Perez, Financial Education Coordinator
      • Alex Stockwell, Controller
      • Kate Lackey, Accounting Assistant
      • Malory Jensen, Receivables and Grant Coordinator
      • Madison Prater, Accounts Payable Coordinator
      • Heather Starr, Executive Assistant
    • Awards
    • Bidding Opportunities >
      • Bid Process for New Contractors
  • Development
    • Multifamily >
      • Shimer Square
      • Northside Lofts
      • Wilson Lofts
      • Sala Flats
      • Renaissance & Goldman Lofts
      • Centre @ 501
      • Coatsworth Apartments
      • Lawrence Lofts
      • Star Block
      • The Locks
      • Jackson Square
      • Goldman Family Block
      • McKesson Lofts
      • Voss Brothers Lofts
      • Douglas Park Place
      • Bowlby Condominiums
      • Clipper Condominiums
      • Goldman Lofts
      • Renaissance Lofts
      • Broadway Townhomes
      • Murphy Lofts
    • Single Family >
      • Garden District
      • New Old Chicago Redevelopment Subdivision
      • Villas at College Hill
    • Neighborhood Stabilization Program
    • Illinois Attorney General Foreclosure Settlement Funds
  • Programs
    • Buying A Home >
      • Live-Work Rock Island
      • Moline Downpayment Housing Program
    • Fixing My Home
  • Housing Counseling
    • Housing Counseling Services >
      • Financial Literacy & Housing Counseling
      • Alfabetización financiera y educación para compradores de vivienda
    • Homebuyer Education >
      • Homebuyer Class Schedule
    • Personal Growth Workshop
    • Post Purchase Class
  • Subsidiaries
    • Central States Development Partners, Inc.
    • Home Base Property Management, LLC
    • Growth General Contracting, LLC
  • Publications
  • Contact