Chicago contractor ENC Construction & Development broke ground on the $430 million Colman Yards development in Rockford, Illinois for Milwaukee-based developer J. Jeffers & Co., ENC confirmed to Construction Dive.
The project team will redevelop 10 buildings on the 26-acre campus, all erected between 1907 and 1948, according to the City of Rockford’s website. Formerly known as the Barber Colman Campus, the development group will also create 73 new townhomes, four mixed-use buildings, two parking garages and 43 “three-flats,” or three apartment units stacked in a single building.
Jeffers claims the project will create a total of 400 full-time equivalent construction jobs, according to the project’s website. In addition, all the employed builders will be Illinois contractors, who are subject to prevailing wage laws.
The development team also expects between 20% and 30% participation of Minority- Women- Veteran- and Disadvantaged Business Enterprises in the construction process.
The project will be financed through a mix of public and private funding, including River Edge Historic tax credits, which provide state income-tax credits equal to 25% of a project’s qualified expenditures to owners of historic properties, according to the state. Additional funds come from revolving loan funds, according to the city.
The Colman Yards build is divided into phases. As the $100 million Phase 1A of construction starts, the $70 million Phase 1B is scheduled to begin in January 2025, according to a July press release from the Rockford City Council. Phase 2’s progression, which will also contain multiple phases, is dependent on market factors, per the release.