By Kevin Haas
Rock River Current
Get our mobile app
ROCKFORD — A citywide prayer meeting intended to unify people around the potential Barber-Colman redevelopment project is planned to take place Thursday evening at the former manufacturing site.
The prayer is led by Pastor William Martin of Providence Missionary Baptist Church and all are invited to attend.
“The Barber-Colman campus is in the 5th Ward where my church sits and many of our church members reside. Revitalizing the area and making it prosperous, in addition to not welcoming out of town guests to acres of blight is crucial for our city,” Martin said in a news release. “It’s important that the whole city get around this project because it affects more than just south Rockford, this will have an impact on our entire community for years to come.”
More news: Here’s the new retailer moving in between Office Max and Dick’s Sporting Goods in Rockford
The prayer and unity meeting will begin at 6:30 p.m. at the Barber-Colman site at Loomis and South Main streets in south Rockford.
Pastors from several different denominations will speak and lead prayer. Several elected leaders have also been invited to attend.
advertisement
City Council members on Monday are slated to vote on a redevelopment deal that promises to help spur the transformation of the vacant factory site in to a $420 million mix of apartments and businesses over 10 years.
The deal focuses on the initial $170 million phase of the development, when nine historic buildings along South Main and Loomis streets will be rebuilt into 334 living units and 105,000 square feet of business space. A new 336-space parking deck would also be constructed.
More news: After a year with record crashes, nonprofit turns its focus from beauty to safety at roundabout
Construction would begin on Phase 1A later this summer if the deal is approved by City Council. That phase would be complete in late 2024. Phase 1B is scheduled to begin in January 2025.
A timeline has not been set for the future phases.
Part of the cost for the city includes a $6 million cash advance and two no-interest loans totaling $10.25 million. The loans would be repaid over 17 years starting in February 2030. The cash advance would be recovered as property values at the site increase and more tax dollars flow into the city.
There are also state and federal dollars and tax credits helping finance the project.
This article is by Kevin Haas. Email him at khaas@rockrivercurrent.com or follow him on Twitter at @KevinMHaas or Instagram @thekevinhaas