ROCKFORD -- Justin Fern's Urban Equity Properties has unveiled plans to transform a vacant industrial building into the Water Power Lofts--an $18.4 million concrete luxury loft apartment complex with views of the Rock River.

Fern said his plan is to break ground by the third quarter of 2021 at 700 S. Main St., an area carved from the Piranha manufacturing campus at 650 Race St.

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