Alton Delays Vote On Lovejoy Housing Project Agreement

City of Alton - Committee of the Whole Meeting

ALTON – Alton Committee of the Whole members on Monday delayed voting on a resolution to negotiate an agreement for a $27 million “mixed-income” rental housing project in the city.

After public comments, a presentation, a question-and-answer session, and more discussion surrounding the proposal, Alderman David Gan asked to refer the item to the city’s Plan Commission for future consideration.

Joe Weatherly and Anne Stevenson of development firm McCormack, Baron and Salazar (MBS) gave a presentation at Monday’s meeting aiming to clear up “disinformation” surrounding the Lovejoy project.

Weatherly said any rumors of the project being “Section 8” or public housing are false. The Lovejoy would consist of 70 units – the vast majority, around 90%, would be “market rate units” with rents subject to increase every year based on the market and demand.

These units would have starting rents ranging from $790 to $895 for a one-bedroom apartment to $955 to $1,060 for a two-bedroom apartment. As Weatherly pointed out during his presentation, “public housing doesn’t cost $1,200 per month.”

Rents for the remaining 10%, known as “workforce units,” would start just below the market rate units, but would include caps limiting rent increases to 1-2% per year. Weatherly said the inclusion of these units makes the project eligible for state tax credits to build what amounts to mostly market-rate housing.

Headquartered in St. Louis, Weatherly boasted MBS’s track record of 30,000 homes created in 30 states over the firm’s 52 years in business. Their vision for the Lovejoy is based on a successful similar project in St. Louis known as Six North, which Weatherly said shares many of the same amenities.

Critics of the proposed Lovejoy project include former Alton mayor and current mayoral candidate Brant Walker. Among other reasons, Walker has cited a high percentage of rental housing already in Alton, preferring instead to focus on improving the city’s existing housing stock and expanding pathways to home ownership.

More information about the Lovejoy provided by MBS was included in Monday’s meeting documents. Under a section titled “Economic Development,” the firm describes the type of tenants it aims to attract to Alton, which it claims will eventually become homeowners in the city.

“With the average age of first-time homebuyers now up to 38 years, desirable rental housing in the walkable downtown core is an important component of an overall housing strategy that will bring more residents in their 20s and 30s to Alton,” MBS states. “Higher quality rental properties are conspicuously absent from the marketplace, leaving no viable options for young professionals who often desire these types of units. The goal is to have these new residents commit to Alton for the long-term, eventually becoming homeowners who will reinvest in the many single-family homes that are in need of major rehabilitation.”

Alderwoman Betsy Allen questioned the timing of the resolution’s introduction, stating the presentation should’ve been given earlier than the same night committee members were asked to vote on the related resolution. Weatherly noted the Lovejoy project has been years in the making with multiple variations made, including a scaling down from an originally-planned 120 units.

Alderman and mayoral candidate Raymond Strebel said his constituents have raised concerns about the Lovejoy structure’s size and position near the Alton riverfront. The proposed site at 324 Ridge Street in Alton would consist of a multi-story L-shaped building surrounded by greenspace and two parking lots.

Importantly, the resolution as written would not allocate any dollar amount or approve any form of design or construction plan. Instead, it would simply allow city officials to negotiate a redevelopment agreement with MBS for the Lovejoy project, which would be subject to City Council approval.

These negotiations would only take place after the project has gone through a public hearing at a future meeting of the Alton Plan Commission. The Plan Commission would then forward a positive or negative recommendation on the Lovejoy project back to the Committee of the Whole, where it would then go to the City Council for final approval.

The Alton Plan Commission meets next on Tuesday, March 11 at 6 p.m. at Alton City Hall.

A full recording of the Monday, Feb. 24, 2025 Alton Committee of the Whole meeting is available at the top of this story, on the Riverbender.com Facebook page, or on Riverbender.com/video.

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