In partnership with the U.S. Department of Veterans Affairs (VA), Boone County Housing Authority (BCHA), and the Winnebago Homes Association (WHA), we celebrated the newest and much-anticipated senior living community in Belvidere, Illinois.
U.S. Senator Tammy Duckworth joined dozens of community members, project partners, and residents at Pearl Place’s well-attended grand opening ceremony in April.
Historic Preservation Timeline:
- Pearl Place was initially built in 1893 as Garfield School.
- A powerhouse was added in 1900.
- Belvidere High School was added in 1916.
- The school’s auditorium and gymnasium, built through a WPA grant, were added in 1939.
- The school transitioned into affordable housing, Pearl Place, in 1997 by the previous owner.
- Nearing the end of its compliance term from the former LIHTC development, Pearl Place was at risk of converting into market-rate apartments. That’s when a partnership with Gorman & Company, the VA, BCHA, and WCHA saved the 56-unit affordable housing community and serves seniors.
Gorman & Company had teams work around the clock to meet state deadline requirements. In the end, the renovated and more accessible one- and two-bedroom apartments house seniors (55+) earning up to 60% of the area’s median income (AMI).
The city of Belvidere is in dire need of affordable housing options, especially for Veterans in need of close supportive services. That’s why, with the help of collaborative partnerships, this historic gem will preserve the tradition of affordable housing for years to come.
Thank you to our project partners, including:
- WHA
- BCHA
- Illinois Housing Development Authority (IHDA)
- VA
- Illinois Historic Preservation Agency (IHPA)
- US National Park Service
- Churchill Stateside Group
- Merchants
- Zions Bank
- Gorman Architectural
- Gorman General Contractors
- Gorman Property Management
