The Wedge Wins Award from Landmarks Illinois
Project received NMTC from HRIF in 2023
The Wedge Innovation Center, two historic buildings that were revitalized into a multi-use civic hub in downtown Alton, Ill., recently received a 2026 Richard H. Driehaus Foundation Preservation Award for Rehabilitation from Landmarks Illinois, a historic preservation nonprofit organization. This new facility that opened in 2025 features retail, coworking and business incubator space and is part of AltonWorks’ efforts to transform the city’s downtown and deliver economic growth. AltonWorks is a social impact development company dedicated to revitalizing historic downtown Alton.
The 55,000-square-foot, state-of-the-art facility received $8 million in new markets tax credits (NMTC) in 2023 from Heartland Regional Investment Fund (HRIF), a Certified Development Entity (CDE) managed by the St. Louis Economic Development Partnership (STL Partnership).
HRIF, which consists of managing members the City of St. Charles, Southwest Illinois Development Authority and STL Partnership, provides financing to projects in distressed communities. Eligible areas HRIF serves are St. Louis and St. Charles Counties in Missouri, plus Bond, Clinton, Madison and St. Clair Counties in Illinois.
To learn more about HRIF and NMTC, click here.