Renaissance & GOldman Lofts

126 18th Street & 1625 2nd Avenue, Rock Island, IL  
Units: 52 Residential, Acquistion-Rehab: Preservation of Affordable Housing  
$4.5 Million Refinance; $2 Million 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. 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.

Today, GROWTH's first multifamily development is in the process of undergoing needed improvements after more than 15 years in operation. ​Exterior work and window replacement started in fall 2018 through a $575,000 Community Development Block Grant funding from the City of Rock Island.

In 2019, GROWTH is working to acquire and refinance the development into one ownership structure and make necessary capital improvements to this continually successful downtown Rock Island development. 
 

Above: Exterior of Renaissance Lofts and Goldman Lofts in 2015. Historical photos of Renaissance Lofts circa 1990. Walgreens closed in 1992, then the Development Association of Rock Island (DARI) stepped in and purchased the building with plans for commercial redevelopment of the first floor. The upper stories were then redeveloped by GROWTH and its partner Brinshore Development in early 2001, converting the upper stories into 24 residential lofts that remain popular more than 15 years later. 

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Above: 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 mechanical, HVAC, cabinets, counter tops, flooring and exterior windows.