FOR IMMEDIATE RELEASE
Gorman & Company Assumes Property Management
For Fairgrounds Valley
Management Transition for the 210 apartment units is Key Element of Partnership with Rockford Housing Authority to Create a New Blueprint for Public Housing in Rockford
Rockford, IL—March 23,2016—Gorman & Company (Gorman) has assumed on-site property management services for Fairgrounds Valley, the 210 –unit public housing development from the Rockford Housing Authority (RHA). The management transition is a principal element in a five-year partnership between Gorman and RHA to replace and revision 1100 existing units of public housing at scattered sites. The five-year plan is designed to improve the overall quality of housing opportunities in Rockford, ensure fair housing objectives and to provide meaningful access for all families to the City’s cultural and educational resources as well as to community services.
A key component of the master-plan is to decentralize and replace 210 distressed and segregated housing units that are currently located at Fairgrounds Valley over three successive stages. Gorman’s 49-unit affordable townhome development to be constructed on South New Towne Drive is the first phase of that initiative. As part of its property management services at Fairgrounds Valley, Gorman will work with RHA to help current residents define and select the best housing option for their needs and qualifications as the Fairgrounds redevelopment evolves.
Gorman manages 4381 apartment homes throughout the country, specializing in affordable housing with 1099 units (over 25% of total) in Illinois alone. In Rockford, Gorman has earned high marks from the community and the neighborhood for the development and management of Jane Addams Park Apartments, a supportive housing campus serving the physically disabled and mentally challenged. Jane Addams, developed in partnership with RHA and designed to respect the historic fabric of its surroundings, has played a catalytic role in the revitalization of the metro residential area and elevated the quality of life in its historic Orchid neighborhood.
“Based on historic performance of Gorman Management, transitioning operations at Fairgrounds to Gorman prior to redevelopment supported leadership consensus between me and the RHA Board of Commissioners,” said, Ron Clewer, CEO, RHA. “We look forward to achieving operational excellence and reduced criminal activity as part of this transition.”
Three years ago, RHA also contracted Gorman to manage the troubled twin, 46-year-old Brewington Towers and subsequently its scattered site properties throughout Rockford. Both properties were losing money and battling high vacancy rates. As a result of Gorman’s management expertise and pro-active engagement with the residents, those properties have since been stabilized, attained high federal inspection scores and are generating positive cash-flow.
Rockford Housing Authority proudly serves our city of 157,000 through 1,922 housing units and approximately 1800 Section 8 Housing Choice Vouchers. We have realigned our goals and continue to realign our organization to not only become a better provider of public housing, but to have a more positive influence on the economy, social fabric and livability of our city. We envision a time when all Rockford neighborhoods contribute to the appeal of our city – neighborhoods enriched by pride, hard work and investment. Neighborhoods where respect, excellence and a sense of community ownership are evident and RHA partners with the community and responsible and respectful families to transform houses into homes.
Gorman & Company is nationally recognized for revitalizing communities and urban neighborhoods through innovative public-private partnerships. As a trusted partner and respected industry leader since 1984, Gorman specializes in downtown renewal, the preservation of affordable housing, workforce housing and the adaptive reuse of significant historic landmarks. Gorman has offices is based in Madison, WI with offices in Milwaukee, Chicago, IL; Denver, CO; Miami, FL and Phoenix, AZ.