Goldman Family Block Lofts

goldman-familyRock Island Economic Growth Corporation broke ground for the Goldman Family Block on June 26, 2012. The buildings were donated by the family of a well-regarded local businessman, Stanley Goldman. The property donation includes:

1610-1612 2nd Avenue, 1614 2nd Avenue, 1616-1618 2nd Avenue, 1620 2nd Avenue, 1622 2nd Avenue, and 1624 2nd Avenue, Rock Island.

The properties included were once part of a bustling retail sector in the downtown. When Rock Island experienced an economic downturn in the 80’s, many businesses left the area and buildings were left vacant and underutilized. The Goldman Family never gave up on their downtown. The family business maintained a presence in the downtown – even making vacant buildings appear used by filling the storefronts with furniture from their stores and keeping the lights on.

Since the groundbreaking, the six properties have undergone a dramatic exterior transformation. Demolition of three buildings occurred early in the project due to structural damage at 1620, 1622, and 1624 2nd Avenue. In their place, a new parking lot has been created supporting new and existing downtown businesses. Rehabilitation is complete on the three remaining buildings at 1612, 1614, and 1616 2nd Avenue and include rehabilitation of five upper story rental units and improvements to the exterior façade.

Project Description

Goldman Family Block LLC is situated in the northwestern part of the downtown footprint and is among some of last buildings to experience renovation along this 2nd Avenue corridor. To date, $12 million of public and private resources has been invested along this block, including owner-occupied condominiums, office space and The Shoppes on 2nd featuring space for six start-up businesses. The impact of the renovation will address important housing needs, while protecting the existing investment that has been made in the retail and commercial sectors downtown.

GROWTH served as the Developer and General Contractor for this project addressing Rock Island’s local housing market needs, responding to the community’s growing and dynamic downtown residential population. Consistent with community’s desire for unique urban living opportunities that are close to many amenities, the Goldman Family Block development also advances objectives in the Downtown Strategic Plan to grow the downtown residential population and increase the utilization and occupancy of downtown properties.

On-site amenities include seven residential parking spaces and five commercial spaces. Goldman Family Block LLC units will exceed existing energy standards.

More than $1 million was invested in the Goldman Family Block, completing more than $12 million of public and private resources invested along this block in the last decade. Funding sources include:

  1. Neighborhood Stabilization Program 2 (NSP 2)
  2. MWA Bank
  3. City of Rock Island TIF
  4. City of Rock Island Façade
  5. Department of Commerce and Economic Opportunity (DECO)

GROWTH has introduced 236 units to downtown’s growing residential population. Brian Hollenback, President of Renaissance Rock Island commented: “Renovation of the Goldman Family Block addresses existing and future needs for market driven housing in downtown Rock Island. Renovations will help restore the Goldman Family Block to a functional and new use while improving the appearance, overall efficiency and contribution to the downtown.”