No groundbreaking date set for luxury East Peoria apartments

PEORIA (25 News Now) - East Peoria is drawing closer to starting construction on a multi-million, 200-plus unit apartment complex that will be the newest addition to the levy district.

Pandemic delays and supply chain issues have stalled the project, but East Peoria Director of Planning and Community Development Ty Livingston said they’re looking to set a groundbreaking date for the fall.

The complex will cost about $60 million dollars. the contracting company will bear the brunt of the cost, the remainder will be paid to Indianapolis-based Flaherty and Collins by East Peoria using property taxes on the apartment complex.

The structure will occupy the empty grass lot just north of Town Hall. A parking garage will connect directly to the complex. For greenspace, the town is planning the Levee District park on the other side of Town Hall.

The Levee District Area of East Peoria consists of several shopping and strip malls. Bring residents in to the area is the next step of development, Livingston said.

“In our first phase of that development it really didn’t happen and so this is an opportunity to add that piece to the puzzle,” he said, “having people live here really reinvests in the investment that’s been made already.”

They hope to announce a groundbreaking date in the summer after plans are finalized with the contracting company.