Renew Moline and Bush Development are partnering to redevelop the former Riverstone headquarters in downtown Moline. CREDIT RENEW MOLINE
The City of Moline and Renew Moline have entered into a final agreement with Bush Construction to create 32 market-rate apartments at the former JCPenney Department Store and RiverStone Group headquarters. The Moline City Council gave final approval at its Tuesday, May 9, meeting to the deal that will transform a block of downtown Fifth […]
The City of Moline and Renew Moline have entered into a final agreement with Bush Construction to create 32 market-rate apartments at the former JCPenney Department Store and RiverStone Group headquarters. The Moline City Council gave final approval at its Tuesday, May 9, meeting to the deal that will transform a block of downtown Fifth Avenue. The building was originally constructed by JCPenney Department Stores in 1956 and used commercially until 1972. It was acquired by RiverStone Group in the late 1980s and served as the headquarters of the Midwest’s leading producer of aggregate until 2019. After relocating to Iowa, RiverStone donated the building and parking lot to Renew Moline to promote redevelopment of the property, according to a City of Moline news release. Davenport-based Bush Construction acquired the building from Renew in May 2024, with plans to renovate the 35,000-square-foot building and add a third story to support workforce housing, which the city said is a top priority for Moline.Moline City Administrator Bob Vitas said the plans approved in the redevelopment and economic incentive agreement call for the project to begin later in 2024 with anticipated completion in late 2025.“This project will bring much needed housing to our downtown and represents what is possible when local businesses and local government get together to invest in our shared community,” Mr. Vitas said in the release. “The city is grateful to have Renew Moline as our economic development partner, RiverStone Group’s collaboration to provide the property, and a new partnership with Bush Construction.” The $6.8 million project, when complete, will also include a future day care center on a portion of the ground floor. Western Illinois University – Quad Cities Campus will operate it, according to the release. The city collaborated with WIU to establish the day care program to support the needs of working parents and the city bought a separate property from a local owner on FifthAvenue to provide a park to support the daycare operation. “We are very thankful for the partnerships that made this project happen, especially with Renew Moline who is our chief downtown partner,” Mayor Sangeetha Rayapati said in the release.“Moline continues to evolve and our hopes are high for the new look and experiences that downtown living options like this redevelopment project will provide.”Chris Mathias, Moline’s director of community and economic development, added, “One of the city’s goals has been to increase the number of dwelling units in our downtown. I’m excited that the mayor and city council have found a way to partner with Renew Moline and Bush Construction to further that goal, by renovating a vacant building to add 32 market rate apartments to our downtown.”
