Construction of a new four-story residential development for seniors 55 and older will proceed as planned.
The Peoria City Council on Tuesday voted unanimously to approve an updated redevelopment agreement with Peoria Opportunities Foundation for the MacArthur Senior Flats project on the city’s South Side.
Director of Community Development Joe Dulin said a previously approved agreement for the project contained some technical errors regarding legal descriptions.
“They are looking to close at the end of October, so we had time to bring this back to get it amended,” said Dulin.
The project, originally estimated at $18 million, calls for 41 one-bedroom apartments and seven two-bedroom units built on 1.5 acres along MacArthur Highway, between McBean and Johnson streets across from Martin Luther King Jr. Park.
The building will include fitness and community rooms and a small commercial space. Each apartment will feature universal, energy efficient design components and modern amenities.
The development is located within the South Village tax increment financing [TIF] district, and is eligible for about $600,000 in project cost reimbursements.
Council members Denise Jackson and Denis Cyr were absent, while Tim Riggenbach abstained. Irina Riggenbach is the executive director for Peoria Opportunities Foundation.
O’Brien property update
The council also unanimously approved a two-part resolution vacating a sliver of property and transferring right-of-way ownership at the O’Brien Steel property near the Illinois River, correcting a 15-year oversight.
In 2011, the city approved a redevelopment agreement with O’Brien in which Peoria agreed to vacate portions of Bond Street and grant an easement for a railroad spur. A title review tied to a separate transfer in 2024 showed the property vacation was never officially formalized.
“This is why we all hate lawyers,” said city attorney Patrick Hayes. “But these two actions together will help us to fully live up to the ambition and the intent of the redevelopment agreement that we approved with O’Brien Steele back in 2011.”
Tim Riggenbach noted that opposing the resolution now would not make much sense after so much time has passed.
“The redevelopment project has since been completed, so it’s not like we’re giving them anything new,” he said. “This is something that was agreed to all those years ago. It’s been accomplished, and now we just need to tie up the legal end.”
