March 14, 2023

Revitalizing Downtown Peoria: Over $735 Million Invested in the Last 10 Years

Downtown Peoria is experiencing a renaissance, with over $735 million invested in the area in the past ten years and more planned for the future. This level of investment is a testament to the city’s determination to revitalize its downtown core, making it a vibrant and welcoming place for residents and visitors alike.

A bustling downtown area is essential for a thriving community, and Peoria’s investments reflect this belief. Vibrant downtowns attract people to walk, dine, shop, and enjoy various activities, creating a sense of community that encourages civic engagement and supports the local economy.

Several key projects are driving the revival of downtown Peoria, including the historic renovation projects of the OSF Headquarters Redevelopment ($150 million) and the Scottish Rite Cathedral ($6 million), which has brought new life to older buildings. The $237 million OSF Cancer Institute is another significant development, providing medical services to people throughout Illinois.

Other projects that have contributed to the revitalization of downtown Peoria include the upcoming conversion of one-way streets to two-way streets ($15.9 million), designed to slow traffic and create a more pedestrian-friendly environment. An $11 million investment to install downtown wayfinding and lighting improvements will make the area safer and more accessible for all. The $12 million Distillery Labs project will repurpose a vacant building and transform it into an innovation hub will help to create new businesses and opportunities in the future. These investments will undoubtedly boost the local economy, create jobs, and foster innovation in the area.

Peoria Magazine‘s February edition provides a glimpse into some of the recent investments in downtown Peoria, highlighting the city’s efforts to attract businesses to the region. The investments are expected to stimulate business growth, making the area even more attractive for new and established businesses.

Peoria’s investments in its downtown core reflect a commitment to creating a vibrant, attractive, and welcoming community. The projects mentioned above are essential for achieving this goal, and they are already making a significant impact. As the city continues to invest in its downtown, we can expect to see even more growth, innovation, and prosperity in the years to come.