STERLING, Ill. (KWQC) – The official groundbreaking date has been set for a new residential development in downtown Sterling.
Construction began on September 29, and the official groundbreaking date has been set for the $5.6 million adaptive reuse residential development known as Lawrence Lofts. The groundbreaking date is set for Thursday, October 13, 2016 at 4:00 p.m.
Economic Growth Corporation, or GROWTH, is redeveloping the second through fifth floors of the Lawrence Building into a $5.6 million adaptive-reuse, mixed-use development repurposing the vacant, upper stories into 20 residential affordable rental units. The upper stories of the Lawrence Building have been vacant since the 1960’s. Residential units range from 484 to 780 square feet and feature one bedroom/one bath units and two bedroom/two bath units. Rent ranges from $215 to $740 per month.
GROWTH has been utilizing a comprehensive community approach in the city of Sterling, working closely with the City of Sterling and Sterling TODAY. The Lawrence Lofts development is considered a milestone in the redevelopment of downtown Sterling and the riverfront by providing downtown urban living options for individuals seeking affordable housing within walking distance to services, amenities, and will provide growth opportunities for downtown businesses.
Construction began on the upper floors of the Lawrence Building September 29, with a 10-month construction schedule. The development is anticipated to support over 62 jobs during the construction period. It is set to be complete in 2017.
The groundbreaking ceremony is not open to the general public.