Redevelopment project continues GROWTH’s efforts in meeting housing needs targeting veterans with special needs
To celebrate 10 years since its founding in 2003, Modern Woodmen Bank donated $10,000 to the Rock Island Economic Growth Corporation (GROWTH) for predevelopment costs associated with the Star Block redevelopment effort.
“We are the only bank headquartered in downtown Rock Island and have a strong local economic impact,” said Steve Ollenburg, president and CEO of Modern Woodmen Bank. “To celebrate 10 years, we wanted to further our commitment to the downtown community.”
One of GROWTH’s pipeline projects, the Star Block was designated a Rock Island landmark in 1991. Although appearing to be one single entity, the buildings that make up the Star Block are three separate structures owned by three different owners. To further meet the housing needs of the community, this 137-year old historic, landmarked structure at 1821-1823 2nd Avenue is currently under site control and slated for rehabilitation by GROWTH.
The overall project includes creation of eight residential rental units and rehabilitation of approximately 1600 square feet of commercial space. This effort will preserve and transform the Star Block into one and two bedroom live-work rental units ranging in size from 540 to 1400 square feet. Accessible, affordable units targeting veterans with special needs will be created on the first floor.
“The fact that this project will help veterans is particularly important to us,” said W. Kenny Massey, Modern Woodmen Bank chairman of the Board of Directors and Modern Woodmen president. “These heroes deserve housing that is accessible and affordable. Modern Woodmen Bank is proud to be the first organization to support the project.”
Brian Hollenback, President of Renaissance Rock Island commented, “Modern Woodmen has been extremely generous and a great partner to GROWTH since its beginning in 2003. Today, we are happy to announce that Modern Woodmen continues to demonstrate its generosity and commitment to downtown Rock Island by donating $10,000 towards redevelopment of the Star Block. We are grateful for this continued partnership and for their donation and commitment to Rock Island.”
Now celebrating its 30th year and over $150 million in leveraged resources, GROWTH is rebuilding its community block by block, improving the quality of life and providing an economic impact and job creation.
About Modern Woodmen Bank
Based in Rock Island since its founding in 2003, Modern Woodmen Bank is a wholly owned subsidiary of Modern Woodmen of America. 31 people are employed in the downtown Rock Island headquarters at 100 17th Street.
With approximately $250 million in assets and 25,000 account holders, Modern Woodmen Bank serves Modern Woodmen members nationwide and the general public in the greater Quad-City area.
For additional information, contact Kim Woodward, Corporate Communications, 309-793-5660