PEORIA, Ill. — New living and retail spaces are being planned for the Warehouse District in Peoria.
The Downtown Development Corporation of Peoria (DDC) announced Thursday the purchase of parcels with the goal of marketing the properties for redevolpment.
The Mitchell Fabrics building and the Federal building are of the four purchased by the DDC said President Michael Freilinger.
“The Federal building claims the highest elevation in the Warehouse District and together with the Mitchell Fabrics building, command a massive presence on this important corridor,” Freilinger said. “Our challenge was not to find a buyer for these buildings, but to find a developer with passion for the Warehouse District.”
And the developer who accepted that challenge with $23 million was the Baldovin Development Company, lead by Casey Baldovin.
The vision Baldovin has for the area is to bring jobs to the area, offer rooftop amenities, and over 90 high-end apartment units to empty buildings.
Baldovin wants to battle a negative stigma in Peoria.
“They don’t realize how much there actually is here to do. You just have to leave the house,” Baldovin said.
Baldovin said his vision is not cold and commercial location.
“I want to bring it to really catalize bringing people down here. I make my buildings interactive,” Baldovin said.
The hope is to begin construction by Spring of 2020.
