"Downtown Peoria and the nearby areas could add nearly 200 living units annually. The demand is there," said Erik Doersching, executive vice president with Tracy Cross & Associates Inc. of Schaumburg, the company that developed the study. There is the potential for 168 new rental units - 102 of those from the redevelopment of buildings already within the Warehouse District into loft apartments. There could be an additional 16 "for sale" condominiums and 10 row or townhomes within the district.
Read the presentation below:
Market Study Presentation
Now would be a good time to start the Heart of Peoria Development Corporation, which would bring equity capital for Heart of Peoria housing development, and spread the risk. More information at:
http://peoriadevelopmentcorporation.blogspot.com/
http://warehousedistrict.blogspot.com/
www.cityofpeoria.blogspot.com