Rock Island Economic Growth Corporation has been awarded a $1.5 million Rebuild Illinois capital grant for Shimer Square in Mount Carroll, a housing and business development. Rebuild Illinois funds will support Phase 1 of the Shimer Square redevelopment, which takes on three of the 17 buildings and the front entry gate, and represents more than $12 million in total project costs.
Phase 1 of the project will consist of:
- The adaptive-reuse of the Bennett and Hathaway Halls into the creation of 37 residential rental units
- Rehabilitation of the Sawyer House
- Repurposing the facility into a resource center for entrepreneurs, homeowners, and rentals so they have access to resources
- Housing for corrections officials working at the Thomson federal prison
My Carroll County News states that Phase 1 is set to close soon and will break ground later this year and will create and support more than 271 jobs through its 9-month construction period which breaks down to:
- 93 construction jobs
- 165 indirect jobs
- 13 retained jobs upon construction completion
Quad Cities reports that the Rebuilt Illinois grant was publicly bid out in two separate contracts: construction and abatement. The construction contract was awarded to Galena Repair & Maintenance and the abatement contract was awarded to the IITI Group, according to a Tuesday Growth release. Demolition will begin in the interior of the Sawyer House and once the site has been fully abated and cleared, construction will begin.
The vacant former college campus will be transformed into a mixed-use, diversified portfolio of housing, business incubation, artist and community space.
Growth Corp. will use the Sawyer House to provide financial literacy services to people to help advance wealth building opportunities for those that live, work, or visit Shimer Square by providing vital community services including financial literacy, housing counseling, business resources through CDFI lending resources that result in new businesses opening within the Shimer Square campus and beyond.
Shimer Square states that in the center of the historic community of Mt. Carroll, IL sits a former college campus, with 14 rolling acres, historic trees, and 17 brick buildings ready for revitalization. Rock Island Economic Growth Corporation d/b/a Economic Growth Corporation (GROWTH) is working to bring new life into this historic campus through its revitalization efforts that will result in new residents, new businesses, and enhanced quality of life.
GROWTH took title to the property on December 31, 2018 and has developed a comprehensive, multi-year development plan aimed at the preservation and revitalization of Shimer Square's historic fabric while protecting its historic integrity.
DataBid is currently reporting on this project - Shimer Square Phase 1A - Mount Carroll (0020100722)