The City of Beloit has been awarded multiple grants from the Wisconsin Department of Natural Resources (DNR) to expand and improve the downtown Riverwalk. The grants include over $1 million from the Knowles-Nelson Stewardship Program, as well as a $495,000 Municipal Flood Control Grant from the DNR.
According to the Beloit Daily News, plans include demolishing a vacant building formerly occupied by Kerry Inc. and Fat Wallet/Ebates, and building a new four-story building for residential and commercial use. The DNR advised removing the building by 2042 due to environmental and stability concerns with its proximity to the Rock River.
“The city is leading the demolition and Riverwalk portion of the project,” Sarah Lock, Beloit director of strategic communications, told the Daily News. “The demolition and Riverwalk project will be funded by the Wisconsin DNR grants plus the local match provided by the developer. The developer will be responsible for the costs to construct their building. No local city of Beloit tax dollars are being used in the project.”
The developer will provide the required matching funds to both grants for a total estimated investment to the downtown area of $16 to $20 million. The project is expected to begin in 2023.
Featured image by Mark’s Postcards from Beloit, 2020.