City of Rockford committee votes to sell Barber Colman Complex
ROCKFORD, Ill. (WIFR) - The City of Rockford is now one step closer to attempting to revitalize the vacant Barber Colman Complex on the city’s southwest side.
Following a vote by Rockford’s Finance and Personnel Committee Monday, alderpersons push forward a measure to sell the land to a private developer for $500,000.
Milwaukee-based J. Jeffers and Company is a real estate development and investment firm with experience in adaptive reuse and redeveloping historic buildings.
“While there are a number of steps to be completed prior to the project advancing, I am excited about the potential redevelopment of Barber Colman,” says Mayor Tom McNamara. “This is a much-needed project for the City and specifically for the residents of southwest Rockford.”
As part of the purchase agreement, there is a due diligence period of 180 days where the company will review the feasibility of redeveloping the property, review the environmental issues and work with the City on a potential redevelopment agreement.
City officials say if the sale goes forward after the due diligence period, the anticipated mixed-use campus will be developed over 7-10 years in multiple phases.
This news comes almost two years after Rock Valley College decided not to build its Advanced Technology Center at the site.
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