Wood River Approves Redevelopment Agreements Along Ferguson Avenue

Wood River City Council Meeting

WOOD RIVER – Two redevelopment projects are moving forward in downtown Wood River, including three new businesses and six loft apartments.

At their May 18, 2026 meeting, City Council members approved two Tax Increment Financing (TIF) agreements for redevelopment projects on Ferguson Avenue. These include an agreement with JAME Properties LLC for 53 E. Ferguson Ave. and a separate agreement with AMERICAINS LLC at 84 E. Ferguson Ave.

The Illinois Secretary of State’s Office lists Allison Hill and Jared Reynolds as managers of the Edwardsville-based JAME Properties LLC. Anthony and Catherine Cain are listed as the current managers of AMERICAINS LLC, based in Alton.

Mixed-Use Development Planned At 53 E. Ferguson

More details about Reynolds and Hill’s vision for 53 E. Ferguson is contained within their application for TIF funding. They estimate $2.9 million will be spent to transform the vacant building into a mixed-use development with two retail businesses at street level topped by six loft apartments.

The renovated retail spaces will serve as the new home of Venecia’s Pizza, a full service restaurant and bar, and Leslie Ave. Candle Co. & Essentials, a retail and workshop storefront. The property owners say both existing business are expected to bring their loyal customer bases along with them, drawing visitors from across the Metro East to to Wood River.

The extra space offered by the Ferguson Avenue property will allow both businesses to expand and create additional jobs, according to the TIF application.

Venecia’s Pizza, which is “currently in higher demand than the space can handle” and is closed on Mondays, will be able to operate seven days a week and accommodate more customers at its new, larger location. The restaurant’s current staffing of 17 is expected to expand to 22, which includes doubling its number of full-time positions from four to eight. Leslie Ave. Candle Co. & Essentials would be able to expand from one full-time employee to four or five employees, including two full-time positions, as the store adds a retail and workshop space.

As for the loft apartments, five units will feature one-bedroom floor plans at $1,200 per month, with one two-bedroom unit set at $1,500 per month. The property owners state in their application these lofts will “bring quality housing” to a city they say currently lacks new construction rental housing.

Under the agreement for 53 E. Ferguson, the city has agreed to reimburse the developer for up to $80,000 or 50% of the building purchase price of $160,000, whichever is less. This amount would be paid in two $40,000 installments, including one upon proof of closing on the property and the remaining amount 12 months after closing and passing any and all city inspections.

Ice Cream Shop Proposed For 84 E. Ferguson Ave.

After a 3-2 City Council vote, the currently vacant commercial property at 84 E. Ferguson Ave. is set to become the brick-and-mortar location of an existing ice cream truck business under the name Jewel Ice Cream Co.

Anthony Cain stated in his TIF application that moving into a permanent storefront location in Wood River will allow his business to expand from its current seasonal operations, creating opportunities for future job creation and additional sales tax generation for the city.

Cain applied for $11,000 in TIF assistance from the city, which he stated will be used to cover 50% of the $22,000 “upfront" cost to acquire the property with a current estimated value of $141,570.

Councilman Bill Dettmers raised concerns that allowing a “purchase price” of $22,000 would cut the amount of property taxes generated by the property from $4,000 to less than $2,000 annually. While City Manager Steve Palen said the property’s true value will ultimately be determined by an assessor, he said it’s “probably a stretch” to assume the property itself will be valued at $22,000.

Council members ultimately approved the agreement by a vote of 3-2, with Dettmers and Councilman David Ayres voting against it. Mayor Tom Stalcup and Councilmen Jeremy Plank and Scott Tweedy voted in favor.

A full recording of the May 18, 2026 Wood River City Council meeting is available at the top of this story or on Riverbender.com/video.

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