By Alex Gary - December 5th 2024
BELOIT
Hendricks Commercial Properties is converting the upper floors of the 311-319 State Street building into 10 loft-style apartments with the units hopefully becoming available in early 2025.
It’s part of a two-phase project for Hendricks Commercial Properties, which plans to upgrade the retail spaces on the street level after completing the apartments. For decades, the building was home to Stanton Shoes, which used a second level to store thousands of shoes. Stanton Shoes closed in September and the inventory was auctioned off.
Two retailers remain open on the ground level of the building — Pizazz at 313 State St., and Always & Forever Formal Wear at 317 State St.
Hendricks Commercial Properties applied for and will receive $120,000 from the Upper Floor Housing Grant created by the city and administered by the Downtown Beloit Association. The grants were made possible by the city’s TIF Housing Fund.
The grant program is designed to promote the use and maintenance of commercial and mixed-use buildings in the Downtown Beloit Business Improvement District by making funds available for creating upper floor housing in eligible structures as a means to preserve the historic culture of our community.
According to its application, the total cost of the Hendricks Commercial Properties project will be $809,670.
The project is the latest in Hendricks’ efforts to increase downtown living options. The company already has built the Phoenix Apartments, the Wright & Wagner Lofts and the Hilton Apartments. In 2025, the company has plans to build a four-story, 48,000-square-foot building that will include a restaurant, office and commercial space and apartments.
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