It's a building which has stood vacant for years. But soon, a property right next to the Metro Centre will be full of life, and new business downtown.
Rockford developer Buckley companies announced Wednesday it's demolishing this building on Chestnut Street. In its place will be a glowing new multi-story building. Inside the facility will be ground level retail, five stories of office space, and mid-range residential units. The project received high praise from top city and county leaders. The developers also say the project got a big lift with construction of the nearby federal courthouse. They hope their development project encourages others to build, and revive downtown Rockford.
"I think what it says about downtown Rockford is not so much futuristic, but retrospective in that downtown is a very viable economic development area, and with the current administration pushing it, I think there's some real opportunity with that riverfront," Paul Nicolosi said.
Construction for the new office and residential property on Chestnut Street is scheduled to begin next spring. It should be ready for business by June of 2007.