CLINTON – The Rock Island Economic Growth Corporation and City of Clinton officials announced in May that it had closed more than $ 13 million in funding for the Wilson Building redevelopment in downtown Clinton.
“This is thanks to the remarkable work of the development and transaction teams who have managed to navigate a complex financing structure that has brought us to this day,” said Brian Hollenback, President and CEO of Economic Growth Corporation. “We are grateful for the unwavering support from so many and share the enthusiasm for what is to come. The Wilson Lofts are a catalytic development, and we’re extremely proud to announce that construction will begin in June.
The Wilson Lofts development includes the creation of 33 residential rental units ranging from two-story townhouse-style apartments, 504 square foot lofts and one and two bedroom rental units from 660 square feet to 1330 feet. squares, the release said. Twenty-six units are designated at the market rate, with seven units designated as workforce housing for those earning 80% of the region’s median income.
The ground floor will have two business incubators, the statement said. It will have Makers on 5th, a retail and business incubator designed to help retailers and start-up entrepreneurs, and Clinton Culinary, a kitchen incubator that will provide commercial kitchen and incubator spaces for culinary businesses in startup, according to the release notes.
The Town of Clinton is delighted to see the Wilson Building come to life, Mayor Scott Maddasion said in the press release. The five-story building with sweeping views of the Mississippi River will put an exclamation point on the great growth that downtown Clinton has seen in recent years, Maddasion noted in the statement.
The version notes that a new website is running where progress updates and rental information will be available. The website is www.Wilson-Lofts.com.