PEORIA, Ill. (WMBD) — Twin Towers Mall in downtown Peoria has new ownership.

The property was recently donated to the local non-profit organization, Illinois Business Financial Services (IBFS). The non-profit provides financial resources through loans, grants, and other programs.

Erik Reader, president and CEO of IBFS, said their plan is to bring new energy to Twin Towers Mall, making it a central place to dine, shop, and enjoy entertainment.

“We hope to develop a community of business owners that can be nurtured by a robust group of resource providers and simultaneously build a network of entrepreneurs that collaborate within the facility. Downtown is the core of activity and with a modern spin, the mall can link up with many other amenities in the area to add vibrancy,” Reader said.

Prior to the donation, the property was put up for auction last year, but the owner decided not to sell it.

According to a press release, the mall will remain open, and no changes will impact business for current tenants.