Royse + Brinkmeyer Launches Lease-Up for The Pilot

CHAMPAIGN, Ill. (March 17, 2026) – Royse + Brinkmeyer today announced the start of lease-up for The Pilot, a new mixed-income residential community that will deliver 151 modern apartments, townhomes, and lofts to Champaign’s historic In-Town Neighborhood. Supported by a unique blended financing structure from PNC Bank, The Pilot includes five planned properties designed to expand workforce housing options in the city.

Champaign continues to see rising demand for moderate-income housing, driven by population growth, wage increases, and limited new supply. The Pilot offers expanded choices for residents – including those in the region’s “missing middle”, who earn too much to qualify for traditional affordability programs but still face increasing barriers in the rental market. 

“The Pilot offers a meaningful solution for the missing middle - our educators, public-sector and healthcare workers, young families, and emerging professionals who are increasingly priced out of the communities where they work. R+B cares that their needs are met,” said Mike Royse, Majority Investor, Royse + Brinkmeyer. “We’re proud to deliver high-quality, attainable housing which reflects the needs of our community.”

Situated along South State and Prairie Streets, the three-acre development blends renovated historic assets with three new distinct residential concepts: Prairie Townhomes, Alley Lofts, and State Street Flats.

“As Champaign continues to grow, developments like The Pilot help ensure that the region remains competitive, vibrant and accessible,” said Brian Ray, PNC Regional President of central Illinois. “PNC is committed to expanding the types of lending and capital solutions needed to bring more workforce housing online and support our talent pipeline.”

PNC Bank provided financing through a combination of traditional lending and an equity-equivalent investment - an approach that could serve as a scalable model for future non–tax credit workforce housing developments.

“This financing structure demonstrates how innovative private-sector solutions can help fill the critical missing middle housing gap,” said Thurman Tony Smith, territory executive for PNC Community Development Banking.

This project supports the City of Champaign’s goal to increase housing units by 2035 as part of a broader strategy to address the region’s supply shortage. Statewide, Illinois faces an existing housing deficit of 142,000 housing units and will need to build an estimated 227,000 new homes by 2030 to meet demand, according to the Illinois Economic Policy Institute.

In partnership with Royse + Brinkmeyer and Catalyst Construction, the Champaign City Council approved a Planned Development in the fall of 2024, enabling a mix of housing types in the In-Town Neighborhood. 

"The City of Champaign is excited to see the Royse + Brinkmeyer housing development nearing completion. The project team ​prioritized quality urban living while complementing the historic charm of the surrounding area. By balancing modern housing needs with the neighborhood's character, this development expands options for residents seeking housing near schools, parks, jobs, and the vibrant businesses in Downtown Champaign," said Mayor Deborah Frank Feinen.

Located steps from downtown along State and Prairie Streets, The Pilot features units priced from $1,500 to more than $3,000 and offers amenities such as rooftop decks, ample natural light, attached garages, community gardens, rewilded landscaping and expanded parking. Floor plans span 513 to nearly 1300 square feet.

The Pilot, located along 305-315 S. State Street and 308-314 S. Prairie Streets, includes:

New Construction: (101 units)

• Alley Lofts - 42 loft-style units ranging from studios to three-bedrooms - 312 S. Prairie St.
• Prairie Townhomes - 12 family-oriented two-bedroom units - 308, 314 S. Prairie St.
• State Street Flats - 47 units ranging from studios to three-bedroom with select rooftop patios - 305 S. State St.

Existing Properties: (50 units)

• State Street House – Single-family home with two units - 315 S. State St.
• State Street Apartments - 48 one-bedroom units - 307, 309 S. State St.

“We designed this mixed-lifestyle community to bring modern amenities, thoughtful gathering spaces and high-quality living to every price point,” added Royse. “It’s a community built for residents at every stage of life.”

Initial occupancy is expected in August 2026, with full completion anticipated by early 2027. Learn more here.

About PNC Bank

PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking, including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

About Royse + Brinkmeyer

Royse + Brinkmeyer is a locally and family-owned property management company in Champaign, Illinois, dedicated to building communities where residents love to live. Royse + Brinkmeyer thinks of itself as a customer service company that just so happens to offer apartments, taking pride in being good community members and forging strong relationships with residents.