Developer looks to place Century Woods Apartments on historic register

JIM: AN OLD ROCK ISLAND APARTMENT COMPLEX IS GETTING A SECOND LIFE WITH THE HELP OF ITS HISTORIC PAST. 3 IT’S CONTINUING COVERAGE OF THE CENTURY WOODS APARTMENTS. A DEVELOPER IS INVESTING MILLIONS OF DOLLARS INTO THE COMPLEX AT FOURTH STREET AND 14-TH AVENUE. IT COMES AFTER CITY LEADERS MADE IT AND ANOTHER COMPLEX PART OF A TAX INCREMENT FINANCING DISTRICT. LOCAL FOUR’S GRACE RUNKEL JOINS US IN THE STUDIO WITH A NEW WAY THE DEVELOPER COULD SAVE MONEY. GRACE… 3 GRACE: JIM… THE DEVELOPER IS ALREADY GOING TO GET SOME OF THE NEW PROPERTY TAXES BACK BY BEING IN THE TIF DISTRICT. BUT NOW THEY ARE LOOKING TO GET ANOTHER TAX BREAK BY GETTING THE APARTMENTS PUT ON THE NATIONAL REGISTER OF HISTORIC PLACES. 3 (GRACE)”did you ever think of this place as historic? (BAGUSS)”no I didn’t actually. I knew it’s been around for a while. My mom knew about it when it was arsenal courts.” BUILT IN 19-41 FOR ABOUT 1-POINT-7 MILLION DOLLARS … ARSENAL COURTS WAS PART OF THE NEW DEAL. (MILES)”It instead started out as housing for workers on the Arsenal during the second World War. There was a great shortage of housing this area.” (MILES)”In that way it’s a very historic property even though it’s not a Victorian house or something like that.”TODAY IT’S BETTER KNOWN TODAY AS CENTURY WOODS. BUT A NEW DEVELOPER IS LOOKING AT CASHING IN ON ITS PAST AND LOOKING TO PUT IT ON THE NATIONAL REGISTER OF HISTORIC PLACES. IF ADDED TO THE LIST … THE DEVELOPER COULD GET A 20 PERCENT TAX CREDIT.(MILES) “It’s basically meant to help people who are rehabbing these buildings kind of cover that extra gap when they do the work right.” CITY RECORDS SHOW THE DEVELOPER PLANS TO INVEST AT LEAST 12-MILLION DOLLARS INTO RENOVATIONS. SO THE TAX CREDIT WOULD REMIBURSE ABOUT TWO-POINT-FOUR MILLION DOLLARS. (MILES)”the architect responsible for the project was very committed to very egalitarian housing that was actually nicer than a lot of housing at the time being designed.” BUT NEARLY 80 YEARS LATER … RESIDENTS ARE READY FOR A FACELIFT.(BAGUSS)”My tub is all tore up so we have to like use one of those mats so our kids don’t get cut on the tub … There’s a hole in our kitchen wall … the maintenance keeps fixing it but it keep sfalling in … the carpet’s all stained up.” REPORTS ALSO FOUND ASBESTOS AND LEAD BASED PAINT IN THE UNITS.(BAGUSS)”They definitely do need to be renovated.” 3 GRACE: THE STATE WILL MAKE A FINAL DECISION ON WHETHER OR NOT THE APARTMENTS ARE A HISTORIC PLACE NEXT MONTH. RENOVATIONS ARE EXPECTED TO CONTINUE TO NEXT YEAR. IN THE STUDIO GRACE RUNKEL LOCAL 4 NEWS. 3

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