The City of Peoria has officially initiated a search for housing developers to create a new residential neighborhood on the former Exposition Gardens property. This initiative aims to introduce approximately 200 market-rate homes, focusing on single-family dwellings, to an underutilized 70-acre parcel in central Peoria. City officials view this as a significant opportunity to expand housing options for middle-income residents and revitalize a key area within the Peoria Public Schools district.
Key Takeaways
- Peoria has issued a formal Request for Qualifications (RFQ) for a residential development at the former Expo Gardens site.
- The project aims to build around 200 market-rate homes, primarily single-family, on approximately 70 acres.
- The city purchased the Expo Gardens site last year for $1.2 million.
- The deadline for developer proposals is June 9.
- Peoria is also exploring a new Tax Increment Financing (TIF) district along West Main Street.
New Housing Development at Expo Gardens
City Manager Patrick Urich highlighted the Expo Gardens property as a "unique opportunity" to establish a new middle-income neighborhood. The city is seeking proposals from developers interested in constructing up to 200 homes, with a preference for single-family residences, on the 70-acre Northmoor Road site. This development is seen as complementary to the surrounding neighborhoods and addresses a need for housing within the Peoria Public Schools district boundaries.
Peoria acquired the Expo Gardens site through a foreclosure auction last year for $1.2 million. The city’s vision includes market-rate housing that caters to middle-income homebuyers, a key priority for Mayor Rita Ali. The RFQ, released recently, has a submission deadline of June 9, with further details available on the city’s website.
Exploring a Main Street TIF District
In parallel, the city is investigating the creation of a new Tax Increment Financing (TIF) district to stimulate redevelopment along West Main Street. This potential TIF area would span from the bluff near the University of Illinois College of Medicine Peoria (UICOMP) to Bradley University. Discussions with Bradley University President James Shadid have indicated a shared interest in developing a corridor between the campus and downtown.
Urich noted that while many businesses currently operate in the West Main area, some sections could benefit from focused redevelopment efforts. The city plans to utilize available tools to identify and encourage these opportunities. A public meeting is scheduled for May 28 at 6 p.m. in the Mitchell Student Center at Bradley University to present the proposed TIF area and gather public input. Following this meeting, the Peoria City Council will consider establishing an "interested parties registry" in June, with further review board discussions in July and potential adoption by the end of August.
