2411 4th Avenue
Completed in 2011, Jackson Square offers nine different floor plans featuring one, two, and three bedroom apartments. Many unique and original features of this local landmark were preserved including exposed brick, support beams, and ductwork.
Unit Mix: One Bedroom, Two Bedroom & One Bath, Two Bedroom & Two Bath, Three Bedroom & One Bath, Three Bedroom & Two Bath.
Square Footage: Varies from 768 to 1,409 square feet
Monthly Rent: Ranges from $429 – $885
Area: 4th Avenue and 24th Street
Amenities: washer and dryer hook ups in each unit, laundry center on each floor (coin operated), off-street parking (included), community room with kitchen.
About The Project +
Investment: $8.8 MillionThe $8.8 million redevelopment of the former Illinois Oil Company building represents one of the most visible and most complex redevelopment efforts undertaken by GROWTH to date.Formerly known as the Illinois Oil Company, the site was identified as a redevelopment objective in the 2007-2010 Downtown Strategic Plan. GROWTH purchased the 87-year old site in 2010 to advance the Plan, while meeting the housing needs of the community. Through $8.8 million in public and private funding, this historic building has been transformed into thirty rental units with nine different floor plans featuring one, two or three bedrooms.GROWTH served as the non-profit community developer for the project. Its development team included Bush Construction (General Contractor), Southwest Design Associates (Architect), EnviroNet (Environmental Consultant), Applegate & Thorne-Thomsen, P.C. (Attorney), and Pioneer Property Management (Property Management Co).
The building now provides 30 spacious residential units featuring one, two, and three bedroom apartments. Commercial space is provided on the first floor.
As one of GROWTH’s many Live-Work developments, the building offers close access to nearby employers and is close to many downtown amenities.
Based on a model developed by the National Association of Homebuilders, every dollar spent on housing investment generates $2 worth of economic activity. In one year alone, Jackson Square’s redevelopment effort has positively impacted the Rock Island community by creating and generating:
- 51 Full Time Jobs
- $2.37 million in local income
- $690,240 income to local business owners
- Over $1.6 million in local salaries and wages
- $248,040 in local taxes
- Over $1 million generated in government revenue
Funded in part through the American Recovery and Reinvestment Act, Jackson Square has given a boost to the local economy while also restoring the environment. Environmental remediation efforts restored this former Brownfields site into a purposeful community asset that builds upon other investment in its immediate surroundings. Jackson Square represents one of five developments in the past decade to undergo clean-up efforts in a three-block area near Arsenal Island. The remediation efforts and additional redevelopment planned for the area is part of a larger economic development strategic plan to create an Arsenal Gateway Business Park.
AWARDS RECEIVED: Rock Island Preservation Society Award, River Action’s Eddy Award, State of Illinois’ Affordable Housing Champion Award, and Federal Home Loan Bank Community First Partnership Award.