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Madison Street E


Te Phase 1 Madison Street District extends from Walnut Street to Market Street, and encompasses the existing buildings and vacant lots fronting Madison Street. Tis area is a direct extension of the core area along East State Street, and presents numerous opportunities for connections that will encourage increased real estate development along Madison Street. Two market-rate residential projects were recently completed on and around Madison Street. Construction of Te Market Lofts located at Madison and Market, was completed in 2009. A small residential building located at 214 Market Street was redeveloped into rental apartments in 2006. Both projects have demonstrated the market viability of residential development within the Phase 1 Focus Area. As the City Center becomes more vibrant and active, even more people will be attracted to the urban lifestyle available along Madison Street. Successful projects in this District will spur residential development in other areas of the City Center as well.


Phase 1 District Vision


Redevelopment of the historical building stock will provide the majority of new residential units in the initial phase of redevelopment. Te reduced cost base of the existing structures, as well as the ability to use historic tax credits and similar financing vehicles will greatly favor redevelopment over new construction. As the redevelopment of these buildings proves successful, and the stock of buildings located in the heart of the focus area is reduced, new development may also take place.


Residential buildings in the district will be modest in scale, with most between two and three stories. Te grade separation between Madison Street and the Rock River will allow many upper-story units on Madison Street to offer views of the Rock River and the Westside skyline. Open-concept loft units with well-appointed kitchens and bathrooms, and exposed structural and mechanical building components, will appeal to young professionals and empty-nesters. Rental apartment units will also attract students and younger people to the City Center. Closed-bedroom floor-plans with good sound insulation will become a popular option for Rockford students and youth who want to share an apartment with roommates.


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Phase 1 Focus Area


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