New affordable housing development for seniors planned for riverfront in south Rockford

By Kevin Haas
Rock River Current
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ROCKFORD  — A new development sets out to bring quality affordable housing for seniors to the riverfront at South Main Street and Harrison Avenue.

Evanston-based developer Alf McConnell plans to build three 3-story apartment buildings for seniors and one 3-story assisted living facility on an 18.4-acre parcel of land in the southeast quadrant of Main Street and Harrison Avenue, along the Rock River.

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The project will be developed in phases, one building at a time, with the first building expected to be a 56-unit apartment building for independent seniors.

Future phases will be constructed, depending on a combination of available financing and the needs of the market.

“My mission statement is:  Quality real estate development, achieved legally, morally, ethically, fairly, and even compassionately,” McConnell said. “This development is going to be a quality property in every respect. . . quality, safe, secure affordable housing for seniors with a quality exterior design, interior design, and land plan — There will be walking paths overlooking the Rock River.”

Mayor Tom McNamara said he expects the developer to uphold that promise of quality because of his track record in the city.

McConnell has been in the real estate industry for 54 years, including 45 years as a developer.  The 81-year-old developer has concentrated the past 25 years on affordable housing for seniors.

One of his previous developments is Forest Glen, a 140-unit apartment community near McFarland Road and East Riverside Boulevard. The National Association of Home Builders honored Forest Glen with the 1998 Pillars of the Industry Award for best affordable housing development in the nation.

“We have a developer with an incredibly strong track record here in Rockford with a model that many have looked at, which is Forest Glen,” McNamara said. “This is someone who we know the quality, we also know the long-term maintenance. I think everyone looks at Forest Glen as an example of how to do things right.”

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McNamara said the project is important because of the need for housing in the region and because it makes use of “an underutilized parcel right on our greatest asset,” the Rock River.

“We have a tremendous need for housing overall, for every single category,” McNamara said. “If it’s affordable, if it’s market, luxury, for seniors, we need.”

The proposed development is scheduled to go before the city’s Zoning Board of Appeals on Jan. 22, the first step in the process toward approval from the City Council. Because the proposed development covers seven parcels of land of varying zoning designations, it requires a special-use permit.

The proposal going before the city’s Zoning Board of Appeals calls for three 3-story independent-living buildings for seniors (one building not to exceed 68 units and two buildings not to exceed 67 units each) and a 3-story assisted-living building.  However, because of the cost of construction and availability of capital, the initial building might be scaled back to 56 units, McConnell said.

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The city is now working with the developer on elements of the plan, including the preservation of many of the quality trees on the heavily wooded property. Some of this land will remain untouched, with certain trees being left intact. Aesthetically pleasing landscaping is important, McConnell said.

He said this project will be similar to The Parkview senior living community in Caledonia, Wisconsin, which offers independent-living apartments, assisted-living apartments, and a memory-care facility

The project is made affordable under an IRS program known as Section 42, which offers tax credits to developers who build affordable housing.

This special type of financing is conditioned upon the development offering lower rents to qualified residents. The resulting tax credits from this financing can be sold to investors to raise the capital needed to pay for the construction.

Residents who earn between 30 percent and 60 percent of a county’s median income are eligible to live in such apartment properties.

If approved by the City Council and upon approval of financing, construction could begin in the fall.

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