Brian Hollenback, President and CEO of the Economic Growth Corporation based in Rock Island, first announced plans for the 14-acre campus in 2020, but it took two years to get all the financing in place for the 60 million dollar project.
"We've survived through the challenges of COVID, construction price increases and working very closely with our funding sources. And certainly the Illinois Housing Development Authority really stepped up with their board decision last Friday approving an additional five million dollars to help offset the cost of the construction costs."
Hollenback says it will take about three months for all of the paperwork to be completed, then construction can begin in the fall. It should be finished in about 13 months.
This will include the creation of 88 units of housing and the re-development of five of the campuses' 17 buildings. Future phases of the project will provide more housing and commercial and retail space.
Founded in 1852, Shimer College closed closed its campus in Mt. Carroll in the 1970's, and moved to the Chicago area. Soon afterwards it became known as the Campbell Center for Historic Preservation Studies, but that too closed in 2017.