$150M Development Project Headed To East Moline - News and Weather For The Quad Cities -

$150M Development Project Headed To East Moline

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Over $150 million in investment and 2000 jobs are coming to the QCA. The city of East Moline announced today this new major development, called 'The Fountainhead'. 

It stretches over 100 acres of prime riverfront land where the old Case plant sat. It will include a Hyatt hotel with 220 rooms. The hotel will have two wings, one for extended stay and the other for nightly stays, and also parking on the first two levels.  

Other projects on the development will be condos, a senior living center, and room for retail shops, restaurants, and much more. 

The project also includes a new apartment complex with 300 units, fitness center, and outdoor swimming pool and amphitheater. 

It's been nine years since the case plant closed down, and not much has happened with the land since until now.  

"Nothing drops in our lap here in East Moline, we work very hard, and it's been great having the partnership we've had," East Moline Mayor John Thodos says.

Thousands of jobs were lost when the plant closed down, but now the city hopes to bring them back, and then some.  

"At first a lot of construction jobs obviously," Thodos says. 

Then employees to fill the hotel, grocery store, gas station and retail strip, and residents to fill the apartments, shop at the stores, and eat at the restaurants.  

"We're the Quad Cities, we have over 400,000 people living here in the metro area," Thodos says, "Also John Deere Harvester just down the street currently experiences 20,000 visitors a year; now they can stay in our hotel and be closer to the plant." 

On top of that, future growth in the area, including at Western Illinois University nearby, will support the new development. 

"The WIU growth will be a part of that mix, hopefully it's where faculty and others associated with the university choose to live as well," QC Chamber of Commerce President & CEO Tara Barney says. 

"It will take time, it will be absorbed over time, but it will be built over time," Barney says. 

The whole project will take ten years to complete, but parts of the project will open up as they are built, and it will be all privately funded.

"The city's finances aren't something we're going to be discussing," Thodos says. 

The city is making the area a TIF district, but after that, the mayor says it will bring $30,000 in property taxes for every million the project brings. That will go to the city and the schools. 

"We're excited about just the whole development of our riverfront and the synergies that can do to the rest of our downtown." 

East Moline City Council originally passed the project TIF in 2011, but the land's assessment was wrong. 

Now the city will need to re-do the TIF at the correct value, but they hope to break ground on this project by spring or summer.

To find out more about the project and take a look at the designs, visit the Fountainhead website at: http://www.fountainheadquadcities.com/about-fountainhead.html