Northside Lofts Approved by Illinois Housing Development Authority Board
On Friday, June 20, 2025, the Illinois Housing Development Authority (IHDA) Board of Directors approved the Northside Lofts development, marking a major milestone in the long-anticipated adaptive reuse and revitalization of the former Aledo Junior High School in Aledo, Illinois. Located at 205 N. College Avenue, the long-vacant 1922 school building will be transformed into a 30-unit workforce housing redevelopment that blends historic preservation with new construction.
The development has been years in the making- requiring vision, persistence, and a steadfast commitment to advancing workforce housing. The development team persevered through multiple attempts and challenges to bring Northside Lofts to this pivotal point. With Aledo’s growth and ongoing efforts to expand housing options, Northside Lofts will serve as a cornerstone in meeting the future housing needs of the local workforce.
With a hard construction investment of more than $11.5 million, Northside Lofts will deliver high-quality, energy-efficient rental units designed for working families and individuals. The redevelopment includes the adaptive reuse of the existing three-story building into 24 apartments and the new construction of an adjoining wing to create an additional 6 units. The unit mix will include studio, one-bedroom, and two-bedroom layouts, all equipped with Energy Star appliances, in-unit washer and dryers, and designed for accessibility with seven accessible units, and all units 100% adaptable.
“This development represents a powerful example of what’s possible when a passionate and committed development team works with vision and perseverance to bring new life into a long-vacant, historic building,” said Brian Hollenback, President & CEO of GROWTH. “Northside Lofts celebrates and restores the rich heritage of this historic property, welcomes it into the tax base, and will provide high-quality workforce housing with unmatched amenities. It’s a testament to Aledo’s growth and future, and it will help meet the growing demand for workforce housing while contributing to Aledo’s long-term planning.”
Development Team
Northside Lofts is being developed through a partnership between Economic Growth Corporation and Basileia Investments. The project team brings together deep expertise in adaptive reuse, community development, and affordable housing. Growth General Contracting LLC will serve as the General Contractor, with Baranski Hammer Moretta Sheehy Architects & Planners providing architectural services. Legal counsel is provided by Applegate & Thorne-Thomsen, and Home Base Property Management LLC will oversee ongoing property management upon project completion.
A Hub for Community and Connection
Community input played a central role in shaping the building’s future, with multiple community outreach events hosted. The amenities at Northside Lofts far exceed what is currently available. The historic gymnasium will be converted into a multifunctional community space featuring co-working areas, a fitness zone, bike-share program, gaming lounge, and on-site HUD-approved housing counseling and financial literacy services. Outdoor amenities will include a community playground, basketball/pickleball court, and a community garden—creating vibrant spaces for families and neighbors to connect.
Community-Led Development with Strong Local Support
Efforts to redevelop the site began in 2021, led by Windborn and the City of Aledo, community champions of the Northside Lofts redevelopment effort. Windborn acquired and landbanked the former school, conducted clean-out efforts, and preserved the building until its acquisition by GROWTH in December 2023. The discounted price led to additional resources for the school’s redevelopment through State Donation Tax Credits. The City of Aledo further supported the initiative through $250,000 in Tax Increment Financing (TIF). Both entities submitted strong letters of support that exemplified their passion to move the redevelopment forward.
The project garnered widespread community backing, including strong letters of support from Senator Neil Anderson, Representative Norinne Hammond, Aledo Main Street, Mercer County Better Together, MercyOne Genesis–Aledo, ProjectNOW, Warren County Public Transportation, and local realtors. Their collective support reflects a unified community vision, linking ongoing, community-driven efforts throughout Aledo with the transformation of this historic building into a lasting community asset.
“Northside Lofts is not just about housing, it’s about honoring its past while investing in the future of Aledo,” said Mayor Chris Hagloch. “The level of support and collaboration behind this project shows just how committed our community is to revitalizing the former Aledo Junior High School. This development is a major step forward in strengthening our city’s housing options, community connections, workforce readiness, and overall quality of life.”
Looking Ahead
Construction is expected to begin in early 2026 following closing on all the financing, expected later this year. With a projected 12-month construction schedule, Northside Lofts will be ready for occupancy in 2027, delivering affordable, accessible, and energy-efficient homes for the next generation of Aledo residents. A landing page has been established for those wishing to be placed on the preliminary wait list, for a 2027 move in at https://www.northside-lofts.com/.
