EAST PEORIA, Ill. (WMBD) — East Peoria city leaders joined Flaherty & Collins Properties for a groundbreaking on a mixed-use development in the Levee District on Thursday.
The new development is called Blutowne, and is being built near Clock Tower Boulevard and West Washington Street. It will feature 219 luxury apartments and 10,000 square feet of commercial retail space.
East Peoria Mayor John Kahl said he is excited to see more residents in the Levee district, and said the project will benefit the community economically.
“We look at the number of jobs just to construct this, and the economic impact it is going to have for the greater Peoria region, phenomenal,” he said. “Not to mention the employees, and once the people are here, the residence, and that kind of impact, but all in it’s about $110 million economic impact, which is huge.”
Julie Collier, Flaherty & Collins Properties’ vice president of development, said she is excited to start building the development.
“With the market and lending where it is today, it’s exceptionally hard to get projects to a financial closing and start construction,” she said. “So we are very excited to be here today and help East Peoria fulfill their goal for living in their Levee District.”
Collier said the rent is expected to range from $1,500 a month to just over $3,000 a month depending on the apartment’s size. She expects residents will be able to start moving into the apartments in March or April 2025.
More information on Blutowne is available on its website.