Bloomington’s State Farm building to be transformed into a $68 million apartment complex

Image Courtesy of National Register of Historic Places

BLOOMINGTON, Ill. — The former State Farm building in downtown Bloomington will soon be redeveloped into a $68 million housing project.

Following a meeting on April 14, the City of Bloomington and Urban Equity Partners (UEP) reached an agreement on the proposals, with construction expected to begin as early as this year. Bloomington’s Economic Development Manager Ellen Robertson attended Monday’s discussion.

“There weren’t a lot of questions,” Robertson said. “There was a lot of public support, which we greatly and always appreciate, and it’s very important for the project and the process.”

The State Farm building is not the only site undergoing change. A second housing project, led by Holladay Properties, will transform the former Verizon site at 1312 E. Empire St. into apartments, complete with a dog park and green space.

“We’re hoping it’ll be a catalyst for getting additional projects to start the process again,” Robertson said.

These two redevelopment projects are expected to help alleviate the severe housing shortage that Bloomington-Normal has faced for the past decade. The expansion of companies like Rivian and Ferrero has only intensified the demand for housing.

“We have people essentially driving from the Chicagoland area, Peoria, Champaign, and other areas to come and work here, especially at Rivian,” Robertson said. “Being able to provide housing for them in the area will not only bring those people here to spend their dollars, like at grocery stores and restaurants, but it will also help attract additional labor.”

With these two major developments underway, the outlook for the housing market in Bloomington-Normal is improving. Robertson said the City of Bloomington is eager to revitalize downtown while adding more housing and generating revenue.

“It’s really just going to complement the area and bring additional life to downtown, so we’re super excited about that,” Robertson said.

Robertson added that the City of Bloomington will continue to prioritize housing in its task force initiatives.