Providing quality housing in the Greater Beloit Region is a priority for the Greater Beloit Economic Development Corporation

In 2021, GBEDC commissioned a Housing Demand Analysis, a detailed report funded primarily by its partners at Beloit 200 and completed by Stantec, renowned for its sustainable engineering, architecture, and environmental consulting.

The report discovered that 14,445 people who work in the Beloit area live elsewhere, with 15,840 people living in Beloit but working elsewhere. Conversely, only 6,206 people live and work in the Beloit area, emphasizing an urgent need for additional housing.

To answer the demand, the report recommended that a mix of housing be built through 2027, including:

Single Family - 500 Units
Duplex/Townhome - 200 Units
Market Rate General Occupancy - 400 Units
Market Rate Senior - 100 Units
Rent Restricted Affordable - 150 Units

Downtown Upper Floor Housing Grants

Our downtown residential area is growing!

The Downtown Business District Upper Floor Housing Grant Program, an initiative of the Downtown Beloit Association, was designed to help meet the city’s housing demands by creating upper floor housing in eligible structures within the city’s Business Improvement District.

Thanks to a contribution of $363,000 in grants from the city’s TIF Housing Fund, 13 new, upper floor housing units are currently being created, with an additional two units being built without grant funding.

The program also represents an innovative way for Beloit to utilize the city’s commercial and mixed-use buildings and preserve the historic architecture and culture of our community.

Housing Development Projects in Greater Beloit (as of 2026)

The following housing development projects are currently underway in the Greater Beloit region. For more information, please contact us.

Western Hills Subdivision

Developer: Acadia Homes

23 lots were purchased by the City from Rock County using $458,000 in TIF housing funds
23 single family homes were built
Sizes range from 1,200 - 1,400 sq.ft.
Prices range from $265,000 - $310,000

Eagles Ridge Remainder Subdivision

Developer: New Leaf Homes

The City is constructing the lift station that will serve this development, which was funded by TIF housing for $1 million.
The balance of the project (base bid is $1,014,507) would be funded with TIF-15 funds
The Eagles Ridge Subdivision consists of 139 single-family lots.
The next phase of development, plat 6, includes 29 single-family lots
Prices TBD

Creek Woods Subdivision

Developer: Next Generation Homes

The preliminary plat was approved by the Planning Commission in December, 2025
The City awarded this development $1 million in a TIF Housing Subdivision Incentive
The subdivision will consist of 86 single-family lots, three duplex lots (6 units), and three multi-family townhouse lots (49 units) for a total of 141 units
Prices range from $270,000 to $450,000

Elmwood Commons

Developer: Next Generation Homes

The City provided up to $1 million towards the construction of Kadlec Drive and the associated water main, sanitary sewer, and storm sewer and the portion of East Elaine Drive east of Kadlec Drive
The final plat was approved by City Council in September, 2025
The subdivision will consist of 44 single-family lots and 11 multi-family lots
Prices TBD

Riverside Apartments by Alternative Continuum of Care

Developer: Alternative Continuum of Care

Located on the former YMCA Site on Riverside Drive
Construction is scheduled to begin in spring 2026
The three-story building will house 55 units, with restricted rents and income limits
The project is being funded by $4,160,612 in TIF housing funds, $829,632 in HOME-ARP funds, and various state tax credits