Urban Equity Properties cuts ribbon on historic Valencia Apartments
ROCKFORD – Urban Equity Properties held a ribbon-ceremony Monday, April 29, to mark the opening of the newly redeveloped Valencia Apartments at 500-518 Fisher Ave.
“I thank Justin Fern and his team for the tremendous work they have done,” Mayor Tom McNamara said during the ceremony.
The Valencia Apartments originally comprised 48 one-bedroom apartment that offered quaint and affordable places to live on the outskirts out Rockford’s downtown. Today, there’s a mixture of spacious market-rate one- and two-bedroom units with modern amenities.
“We are very excited,” Urban Equity Properties CEO Justin Fern said. “This neighborhood is a great neighborhood with a ton of potential and a lot of history. We saw a need for a lot of good folks who wanted to live in the neighborhood and wanted market-rate housing but just didn’t have that many options. So, we came in and did nice hardwood floors, granite countertops, new mechanicals, electrical, plumbing, appliances, laundry on-site, garage parking and secure entry. All these things are included in the rent.”
McNamara added: “Urban Equity Properties has been synonymous with the revitalization of our downtown. To take this group of older buildings that were incredibly dilapidated and to see what (UEP) has done to transform them back to their original glory is pretty special. It is great to see the downtown revitalization pushing out to our neighborhoods.” R.