GROWTH is working to redevelop and reimagine the former Aledo Junior High School at 205 N College Avenue, Aledo, IL. The Northside Lofts development merges adaptive-reuse and new construction within a historic, former school, featuring 24 units within the existing structure and 6 units in a newly constructed wing. It emphasizes green building practices for energy efficiency and sustainability and offers a mix of studios, 1-bedroom, and 2-bedroom apartments. Repurposing the historic gymnasium will provide essential community amenities based on community input, surpassing current offerings in Aledo. Amenities include co-workspace, fitness area, bike share, gaming lounge, and more. Exterior amenities feature playgrounds, courts, and a community garden. With a $16.2 million total investment, GROWTH aims to provide affordable, high-quality, new housing opportunities, fostering community growth and vitality.
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.
GROWTH's Preliminary Project Assessment for the Northside Lofts received approval from the Illinois Housing Development Authority (IHDA) in February 2024. We are currently in the process of preparing a full financing application, due on March 29th. The adaptive-reuse development surpasses total development costs of $16.2 million, with award announcements expected in July 2024.
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:
The Northside Lofts development merges adaptive-reuse and new construction within a historic, former school, featuring 24 units within the existing structure and 6 units in a newly constructed wing. It emphasizes green building practices for energy efficiency and sustainability and offers a mix of studios, 1-bedroom, and 2-bedroom apartments.
Interested in living in a piece of history? Have input on what you'd like to see in the redevelopment? Share your thoughts with us below and stay updated as GROWTH works to transform the former school into modern, quality, affordable housing.
100 19th Street, STE 109
Rock Island, IL 61201
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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. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
Declaración de Equidad de Vivienda
Estamos comprometidos con la letra y el espíritu de la política de EE.UU. para el logro de la igualdad de oportunidades de vivienda en toda la nación. Alentamos y apoyamos un programa de publicidad y comercialización afirmativa en el que no existen barreras para obtener vivienda debido a raza, color, religión, sexo, discapacidad, estado familiar u origen nacional.
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. To file a complaint of discrimination, write to Department of the Treasury, Office of Civil Rights and Diversity, 1500 Pennsylvania Ave. NW, Washington D.C., 20220 or call (202) 622-1160.
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.