Riverside Apartments Breaks Ground, Expanding Affordable Housing in Beloit

Lutheran Social Services of Wisconsin and Upper Michigan (LSS), Alternative Continuum of Care (ACC), and the City of Beloit on Wednesday, Aug. 5, 2026, held the official groundbreaking of Riverside Apartments, a 55-unit affordable housing development at 1865 Riverside Drive, the former site of the Stateline Family YMCA.

The event marks the formal launch of construction on the largest project in Beloit to use low-income housing tax credits since 2012, and the largest apartment complex built in the city since 2022.

Most of Riverside Apartments’ 55 units will be reserved for households earning between 30% and 80% of Rock County’s median income. The development is a partnership between ACC, lead developer, and LSS, co-developer, property manager and on-site supportive services provider for residents.

“Every person deserves access to safe, affordable housing and the opportunity to build a stable future,” said Héctor Colón, President & CEO of Lutheran Social Services of Wisconsin and Upper Michigan. “Riverside Apartments will expand housing options for Beloit residents while connecting individuals and families with supportive services that promote long-term stability and success. We are grateful to ACC, the City of Beloit, City Council, Rock County, the Rock County HOME Consortium, and the Wisconsin Housing and Economic Development Authority for helping turn this vision into reality and creating a lasting impact in the community.”

“The demand for quality, affordable housing in Beloit has never been greater,” City Manager Daniel Ortiz Hernandez said. ”Housing is one of our community's most significant challenges and one of its greatest opportunities. As Beloit continues to grow and families face increasing housing challenges, developments like this represent an important step toward expanding housing choices, strengthening neighborhoods, and supporting long-term economic vitality. This project reflects what can be achieved through strong partnerships, and the City of Beloit remains committed to using every appropriate economic development tool to encourage additional housing investment and help meet the needs of current and future residents.”

The project was made possible through a combination of funding sources, including:

• A $4.16 million, 30-year interest-free incentive loan from the City of Beloit’s Tax Incremental Financing (TIF) Housing Fund
• $829,632 from the Rock County HOME Consortium (HOME-American Rescue Plan funds)
• $989,000 from Rock County

Construction is expected to be completed in mid-2027 with residents moving in later that year.