MOLINE, ILLINOIS (April 24, 2024) — The Moline City Council took an important step toward transforming the former JCPenney building into 32 residential units at its Tuesday evening meeting. A proposed Redevelopment Plan and Economic Incentive Agreement was unanimously endorsed by the City Council, clearing the first hurdle toward project approval.
The building was constructed in 1956 as a JCPenney department store, which closed when it moved to South Park Mall in 1972. The existing two-story building includes a basement and comprises about 35,000 square feet. The RiverStone Group housed about fifty employees from the late 1980s to 2019 and donated the building to Renew Moline in late 2022.
In early 2023, Renew Moline chose Bush Construction as its partner with a goal of maximizing the development potential of the site and enhancing the 5th Avenue corridor. The project includes the addition of a third floor and construction of studio, one- and two-bedroom units along with a first-floor commercial space. The proposed project received design approval from the City of Moline Plan Commission in February 2024.
“This building has served two uses over its history, and we are pleased to pass this building to Bush Construction to begin the third.” said Renew Moline Board Chairman Greg Derrick. “Renew has worked to secure a quality development partner to deliver a model of urban living to the community. We are looking forward to bringing new residents downtown.”
The $6.8 million redevelopment will add investment to 5th Avenue that is supported by a newly-created tax-increment financing district, similar to other districts created over the last thirty years to support downtown redevelopment. Under the agreement, the City will provide a loan to close a funding gap to be repaid by the project through TIF and will provide leased parking spaces for tenants in a nearby lot. The project also will add bike racks on the 5th Avenue side and landscape improvements on 17th Street. The project furthers the City’s goal of creating more housing, especially in areas served by public transportation.
“This project supports all three of the City’s Strategic Plan Pillars of creating quality places, stimulating private investment, and building infrastructure smartly,” said Mayor Sangeetha Rayapati. “We are happy for the partnership with Renew Moline and Bush Construction and look forward to seeing the project completed.”
The area of 17th Street and 5th Avenue has seen new activity in the past five years with the opening of the Axis Hotel and the Fifth Avenue Syndicate, the recent addition of the Atlas Collective coffee and bookshop, and the Sound Conservatory in the Carnegie Library. Commented Bush Construction President A J Loss, “We are excited to add new residents to this area and continue to build on downtown Moline’s success.”
Final project approval is expected by the City Council on May 7. Renew Moline anticipates transfer of the property to Bush in the next few weeks with construction beginning in late 2024.
Renew Moline Inc is the non-profit economic development entity planning, facilitating development, connecting resources and people, and advocating for public policies and programs in order to realize opportunities for continued investment in and repositioning of Moline, Illinois’ riverfront as the place to live, work, play, and learn.
Bush Construction was founded to deliver a better overall commercial general-construction process. Bush believes that by offering design, development, and construction services all under one roof, clients receive faster service, a consistent experience, and achieve cost savings. Bush was proud to be named the “Coolest Place to Work in the Quad Cities” in January 2024.
