The real estate development company is applying for state grant funding to restore the Times Theater
Peter Provenzano, President of Joseph James Partners (JJP) real estate development company, announced today that the company is applying for state grant funding to renovate the historic Times Theater in downtown Rockford. Provenzano was joined at a news conference by a bi-partisan group of local government leaders, including State Representative Maurice West, State Senator Steve Stadelman, Winnebago County Board Chairman Joseph Chiarelli, Alderman Chad Tuneberg and Alderman Mark Bonne, Alderman Tim Durkee, and Winnebago County Board Member Angela Fellars.
JJP will submit their proposal in early January for $3 million to the Illinois Department of Commerce and Economic Opportunity under the Rebuild Downtowns & Main Streets program (RDMS). RDMS provides capital grants to support economic recovery in commercial corridors and downtowns that have experienced disinvestment, particularly in communities hardest hit by COVID-19.
“Bringing the Times Theater back to life will not only revitalize the downtown area, but improve our theater district for the Rockford community,” said Representative West. “The arts play a huge role in the development and exposure of people both young and old. I look forward to the impact the Times will add in reaching our youth, especially those in the 67th District.”
The Times Theater was built in 1938 and has been vacant for the past 20 years. The planned redevelopment project of the theater includes creating a 650-900 seating and standing capacity with improvements that will also make it into a multi-use facility and entertainment venue featuring additional, flexible space. The total estimated cost of the project is $15 million. The project will create vibrancy for the downtown near west-side area of Rockford and capture a mid-market entertainment audience that the Rockford area is currently missing.
“We appreciate the strong support we are receiving from local officials and organizations for our grant proposal to help with the cost of redeveloping the Times Theater,” said Peter Provenzano. “We now invite the broader community to join in supporting our plans to restore this jewel of our community and renovate it into an exciting new entertainment venue for the Rockford-Winnebago County area.”
A change.org petition has been launched entitled “Bringing Back the Good Times – Times Theater Restoration” for citizens to share their memories and support for the Times Theater renovation as well as why it is important for the community. People are invited to sign the change.org petition at www.restorethetimes.com and share their supportive comments for this important community redevelopment project.