Developers announce plans to revitalize South Main corridor

ROCKFORD, Ill. (WIFR) - The South Main Street corridor on Rockford’s near south side is about to see some revitalization plans, as Urban Equity Properties is planning another project to make use of an abandoned building.

In a Facebook post, Urban Equity Properties says its affiliate, WPD 1 LLC, has purchased the five story building at 700 South Main Street. The post says the plan is to revitalize the space and create “The Water Power Lofts”.

“UEP thanks W. A. Whitney Company for transferring this building out of the Piranha building campus. This building has a great history. Piranha and W. A. Whitney are a huge part of Rockford’s industrial story, especially in the fields of metal fabrication equipment and metal cutting machines,” said Urban Equity’s Founding Principal, Justin Fern. “This purchase allows UEP to extend the revitalization of Rockford’s South Main corridor, extending the progress southward from our 301 South Main project breaking ground this May. A development like this could also open the door for other projects across the river and down South Main Street.”

The 60-unit project is expected to break ground later this year, and be completed sometime in 2023.

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