‘Prominent’ warehouse district building transforming into apartments
PEORIA (25 News Now) - An old, empty building in Peoria’s warehouse district will have new life this year.
The old Federal Warehouse Building will soon house office space and upscale apartments.
Baldovin Construction is currently installing framing on the empty warehouse floors.
Crews are building frames for the 90 one-and two-bedroom apartments that will be located above office suites on the first few floors.
They anticipate the rent for these apartments will cost anywhere from $1,000 to $2,000 a month with good views of downtown and quality amenities.
So far they have 56 residents looking to sign pre-leases before construction is complete.
Building owner and general contractor Casey Baldovin thinks the downtown location will bring people in.
“We feel it’s a prominent building in the warehouse district, we wanted to kind of give it that feel of being a cornerstone in this district and kind of a gateway when you’re coming in,” he said.
Businesses in the surrounding area feel the development of the Warehouse District will help boost customer traffic for all of them.
“We’ve got some really great shops here, we’ve got Rambler right next door and we’ve got Crafted two doors down,” said Zion Coffee Bar owner Savannah Hattan. “We hit some people that are coming in to shop there, we love to be people’s daily stops.”
Down the street from that location is another building under renovation in the area.
The timing of the Adams and Oak apartments is hard to nail down - after the supply chain issues and labor cost roller coaster of the last couple years.
But Baldovin estimates things could be done by March 2024.
Since the building is already constructed, they can work no matter the season, though some floors are waiting on windows.
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