Running Central held a grand opening and ribbon-cutting yesterday for its new location at 311 SW Water Street in Peoria. With 20,000 total square feet of space, the expansion has made the 37-year-old business the largest brick-and-mortar specialty running store in the nation. Running Central’s investment in its new home exceeds $2.2 million, with amenities including an indoor runway, kids’ zone, flex space for yoga, wellness clinics, women’s lounge with five dressing rooms, and an open lounge for guests to relax while family and friends shop. In other Warehouse District news, Rhodell Brewery announced its plans to move to the Murray Building just down the street. About 4,500 square feet of the first floor will be renovated for the brewery, which will include an expanded bar and kitchen, covered beer garden along Water Street, and live music performances. The new location is expected to open next February. The Peoria PlayHouse Children’s Museum is coming to life! Yesterday, the Power of Play Campaign, a partnership among the Junior League of Peoria, the Peoria Zoological Society and the Peoria Park District, kicked off the demolition and construction process for the next phase of its campaign to make Glen Oak Park a daylong destination for families in central Illinois. For more than 10 years, Junior League volunteers have spent countless hours researching the feasibility of a children’s museum for central Illinois, and at last that dream is coming to fruition. The museum is expected to open next summer. For more information, visit powerofplaypeoria.org. Registration is now open for the 2014 East Peoria Chamber of Commerce Leadership School, which runs September 17th through December 5th. The program offers a unique opportunity to enhance leadership skills and network with other business people in the area. Classes are held on Wednesdays from 7 to 9am. For more information, call (309) 699-6212 or visit epcc.org. The Peoria Public Library Main Library Gallery will host the Illinois Art League Member Exhibit from Tuesday, July 15th to Thursday, July 31st from 9am to 6pm,Monday through Saturday, with free admission. The public is invited to a gallery walk onWednesday, July 23rd at 2pm and closing reception on Saturday, July 26th from 1 to 3pm. For more information, call (309) 497-2120.
Saturday, July 19th @ Junction City The Peoria Art Guild hosts the third annual Wine & Whiskey Walk from 1 to 6pm. Sample more than 30 eclectic wines and whiskies and explore the shops at Junction City, while enjoying tasty food, live entertainment and interactive art. Proceeds will support the Guild with art education and community outreach. For tickets or more information, visit peoriaartguild.org or call (309) 637-2787. Saturday, July 19 @ CEFCU Stage on the Landing Peoria’s first Color Vibe 5K kicks off at 9am. Run, walk, skip and dance your way through the race while being splattered with colors! From 9:30 to 11am, a dance party and additional color blasts will wait for participants at the finish line. A portion of the proceeds will benefit Quest Charter Academy. Register at thecolorvibe.com/peoria.php or call (309) 402-0030. Saturday, July 19th @ Peoria Riverfront Museum The Peoria Magicians Assembly presents “Magic at the Museum” from noon to 1pm. Magicians Michael Baker, Rodney Nordstrom and Kyle “Gambit” Bassett will face the challenge of creating illusions with even their slightest movements captured on a high-definition, five-story screen. $5 admission; free for children under 5. For more information, visit peoriariverfrontmuseum.org or call (309) 863-3006. Saturday, July 19th @ Jimmy’s Bar/Rocky Glen, West Peoria Friends of Rocky Glen will hold a daylong celebration from 9am to 8pm to raise funds for a parking lot, trails and interpretive signage at Peoria’ newest park, Rocky Glen. A van will shuttle hikers to the park for guided tours from 9am to 4pm. Jimmy’s will host a pancake breakfast at 10am followed by a hot dog lunch and ice cream and live music performances. For more information, call (309) 676-5237. Friday, July 18th to Sunday, July 20th @ Ravina on the Lakes The inaugural Country Life Music Festival will feature a number of top country artists, including headliner Brad Paisley, who performs on Saturday night. Camping will be available from Thursday through Sunday, accompanied by a complimentary shuttle that will run from the campgrounds to festival grounds all day. For more information, visitcountrylifemusicfestival.com.
The Peoria Charter Coach Company has provided service from Peoria to O'Hare and Midway Airports for many years. It is a valuable service. They have reworked their interim stops in a way that makes it much useful. The first stop was at the Bone Student Center in Normal. It has now moved to downtown Normal next to the Conference Center and AMTRAK Station. So the bus is now a convenient feeder to AMTRAK. There are usually five buses a day from Peoria to Chicago with all of them stopping at the Normal Amtrak Station. There are usually 5 Amtrak trains from Normal north to Chicago and south to St Louis. Schedules peoriacharter.com amtrak.com amtrak.com/ccurl/238/730/Illinois-Missouri-Schedule-011314,0.pdf The bus stop in Joliet has been moved to the METRA / AMTRAK Station in downtown Joliet. There are a number of trains leaving Joliet for downtown Chicago. metrarail.com/metra/en/home/maps_schedules/metra_system_map/ri/schedule.html
So our bus service that has always provided nice service to the Chicago airports now also provides nice service to AMTRAK and METRA Trains. Example - Business or Shopping or Fun Trip to Chicago Take the 6:30 am bus from Peoria north to Joliet, arriving at 9:25 am. Take the 10:25 METRA train to Chicago, arriving at 11:48 am. Return Take the METRA Train from Chicago to Joliet to meet the Peoria Charter Bus for their 6:45 pm or 10:30 pm return trip to Peoria.
The City is making excellent progress on the rebuilding of the streets in the Warehouse District. The report below:
Recent Project Updates
May 20, 2014:PUBLIC MEETING ANNOUNCEMENTA public meeting will be held onThursday, May 29from5pm to 6pmto provide a construction update and to answer questions regarding the Washington Street Improvement and Warehouse District TIGER IICompleteStreets Projects. The meeting will be held at the Art Guild (203 Harrison Street, 2nd Floor). All are welcome to attend.
April 28, 2014:ROAD CLOSURE ALERT**updates previous post** Starting today, Oak Street will beclosedto eastbound traffic between Adams and Jefferson Streets to allow for construction of new curb, sidewalk, planters, and decorative lighting. Westbound (Adams to Jefferson) traffic will still beopen. This closure is expected to last up to three weeks.
Oak Street will beclosedto westbound traffic between Adams and May Alley (midway between Adams and Washington). This closure is expected to last until late May.
Workers pour new concrete sidewalks and prepare the Adams Street parking lane forbrick pavers.
Over the past few years, the City has worked with Tracy Cross, a nationally recognized housing analyst, to measure the strength of housing demand in downtown and the Warehouse District. The last report was delivered in early 2011. Working with the Tri-County Regional Planning Commission, the City engaged Tracy Cross to update that study. The results are attached.
Tracy Cross continues to believe there is considerable pent up demand for housing, especially rental housing, in downtown Peoria. From their report (emphasis theirs):
“It is our contention that Peoria has yet to fully serve its downtown employment base with adequate housing alternatives. In fact, the downtown area and its Warehouse District still have the potential to absorb 200+ new housing units annually for the next several years, primarily in the form of rental apartments. Not only has downtown Peoria’s rental market improved since our previous analysis, but no new apartment product has been introduced. In addition, although the “for sale” sector of the market (overall) is sill performing poorly, downtown Peoria continues to be void of any new construction activity, with this sector also having modest potential over time.”
The chart below shows the improvement in market since 2011:
Rental Price (per square foot)
Sale Price (per square foot)
Please share this information with your colleagues and partners. Let me know if you have any questions.
The Historic Pere Marquette was the first
building in Illlinois to receive the State and
Federal Historic tax credit.
The Illinois Historic Preservation Tax Credit Program provides a state income tax credit equal to 25% of a project’s qualified expenditures to owners of certified historic structures located within River Edge Redevelopment Zones (Aurora, East St. Louis, Elgin, Rockford and soon Peoria) who undertake certified rehabilitations during the taxable year. For information on the current program, administered jointly by the Department of Commerce and Economic Opportunity (DCEO) and the Illinois Historic Preservation Agency (IHPA), go to:www.illinoishistory.gov/PS/IHPATCP.HTM.
A 20% Federal Rehabilitation Tax Credit is available for rehabilitating an income-producing building. This dollar-for-dollar Federal income tax credit equal to 20% of the construction costs may be used by the building owner or sold to a tax credit investor. The minimum investment is 100% of the building's "adjusted basis"; that is, the purchase price minus the land cost and depreciation, plus prior improvements. The building must be a certified historic structure. Tax Credit Projects PDF. To learn more …
A 10% Federal Rehabilitation Tax Credit is available for rehabilitating an income-producing, non-residential building built before 1936. (This is NOT for properties listed on the National Register of Historic places or in local landmark districts). This dollar-for-dollar Federal income tax credit equal to 10% of the construction costs. The minimum investment is 100% of the building's "adjusted basis"; that is, the purchase price minus the land cost and depreciation, plus prior improvements. Use IRS form# 3468. To learn more …