Valkommen Plaza, 310 Seventh St., was purchased for $21.1 million by Envolve Communities on Feb. 9, 2023, according to a real estate transaction. (Photo by Kevin Haas/Rock River Current)

By Kevin Haas
Rock River Current
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ROCKFORD — A federally subsidized senior housing community in the city’s Midtown has been purchased by an Alabama-based property management company.

Envolve Communities purchased the 171-unit Valkommen Plaza, 310 Seventh St., for $21.1 million from a private investment group, according to a real estate transfer recorded Thursday at the Winnebago County Clerk & Recorder’s Office.

Envolve is also the owner of Rockford Ridge apartments on the city’s west side. That complex, which was formerly known as Concord Commons, was purchased by the company from Rockford Housing Development Corp. for $6.4 million in June 2020.

Calls to Envolve were not returned.

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The nine-story building in Midtown has one- and two-bedroom apartment units that can be rented with U.S. Department of Housing and Urban Development assistance. There is also commercial space on the first floor, including a beauty salon and convenience store.

Affordable Housing Investment Brokerage Inc., which arranged the sale of the property, said the building recently received numerous upgrades including a roof replacement, new elevator machines, a new transformer and central air handlers. It said several of the kitchens and baths in the apartments were also recently updated.

Valkommen Plaza, 310 Seventh St., is a federally subsidized senior living complex in Rockford’s Midtown. (Photo by Kevin Haas/Rock River Current)

This article is by Kevin Haas. Email him at khaas@rockrivercurrent.com or follow him on Twitter at @KevinMHaas or Instagram @thekevinhaas.