Pearl Place, a historic property that former housed Belvidere High School, has been renovated for 56 affordable senior living apartments. The renovations are being celebrated Friday, April 12, 2024. It marks the completion of upgrades after the property was initially converted to affordable housing in 1997. (Photo by Kevin Haas/Rock River Current)

By Kevin Haas
Rock River Current
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BELVIDERE — A historic building complex that once housed Belvidere High School has been renovated to serve seniors in need of affordable housing.

Wisconsin-based housing developer Gorman & Co. will celebrate the completion of the $11.2 million rehab of Pearl Place, 520 Pearl St., today in an event with U.S. Sen. Tammy Duckworth and other dignitaries.

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The building was initially converted into affordable housing in 1997 by the previous owner, and it was purchased by Gorman & Co. last year as it neared the end of its term to comply with the Low Income Housing Tax Credit program and provide apartments for lower-income residents.

Gorman & Co. said the property needed to be preserved as affordable housing because of a large need for such homes for seniors and senior veterans.

“This project was really pivotal in Belvidere,” said Ron Clewer, Illinois market president for Gorman & Co. “The reality is it was at the end of its term of affordability and was already converting into a market-rate senior project.”

There are 56 renovated units serving residents ages 55 and older who earn up to 60% of the area median income. The complex also has supportive services available through the Boone County Housing Authority as well as through the Veterans Administration.

“Housing costs are too expensive for working families all across this country,” Duckworth said in a statement. “While I’m doing what I can at the federal level, we need leaders like the team behind Pearl Place willing to step up and make a commitment to affordable housing options, with the support of local and state government, in our towns and neighborhoods everywhere across our state and country.”

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Gorman spent about nine months renovating the property, completing it near the end of 2023. It’s holding its grand opening today from 1 p.m. to 2 p.m. in a celebration open to the public.

Gorman’s work replaced the roof, restored the masonry, repaired broken window panes and frames, repainted the adjacent former school building at the corner of Pearl and First streets.

The units were updated with new counters, faucets, sinks, lighting fixtures, bathrooms, flooring, painting and wall renovations to fix water damage, laundry rooms, updates to the common areas. All units also got new hot water heaters, furnace and air conditioning and new Energy Star appliances.

The 56 units of Pearl Place have been renovated for affordable living for residents age 55 and older. (Photo provided by Gorman & Co.)

The work was done while the property was about 75% occupied, Clewer said.

“We’re thankful to the residents of Pearl Place for their grace and understanding,” he said. “We had to renovate the vacant ones first, and then we would move people from their existing places into the renovated places and then we would renovate that next round. … Until the project was done.”

Gorman also had to pay to relocate some residents who were living at Pearl Place but earned too much money to meet the requirements for it to be preserved as affordable housing.

“We had some very high-income seniors who were living in the building,” Clewer said. “They wouldn’t qualify for the affordable housing restrictions because their incomes were too high. We had some six-figure income residents and we had to help them find new housing.”

Housing officials say it was necessary to preserve the complex as affordable housing because Belvidere has a lack of available units.

“In fact, it lacks even adequate rental housing regardless of affordability. It was a constant challenge for veterans who could not use the VASH vouchers and get the housing they needed near their family and supportive services without leaving the community,” said Alan Zais, executive director of Boone County Housing Authority and president of Winnebago Homes Association. “BCHA had been exploring a project-based VASH that would make immediate homes available for veterans.”

The property must remain affordable housing for an additional 30 years under the requirements of the low-income housing tax credits used to help finance the project.

The property serves as affordable senior housing through a partnership with the U.S. Department of Veterans Affairs, Boone County Housing Authority and the Winnebago County Housing Authority.

Pearl Place is a complex of four connected buildings with three architectural styles: classic revival, art deco and prairie school. It was built in 1893 as Garfield School. Then a powerhouse was constructed in 1900 and the Belvidere High School was added in 1916. The school auditorium and gymnasium was added in 1939, according to the National Register of Historic Places.

“Pearl Place is the historic preservation of not only historic assets in Belvidere but also the preservation of much-needed affordable senior units for this community,” Clewer said. “The affordability period for another 30 years ensures our community’s seniors and veterans have affordable homes well into the future.”

Pearl Place is now leasing for seniors ages 55 and older. The property, 520 Pearl St., is shown on Thursday, April 11, 2024, in Belvidere. (Photo by Kevin Haas/Rock River Current)

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