Adjusted plans for a $5.9 million mixed-use development in Peoria’s Warehouse District will nearly triple the number of residential units while reducing the amount of commercial space.
The Peoria City Council on Tuesday unanimously approved amending the existing redevelopment agreement with WS Investments for the properties at 906-910 SW Adams St., increasing the number of loft-style apartments from eight to 21.
Assistant City Manager Kimberly Richardson said the change will benefit the city by improving equalized assessed valuations in the district.
“When we’re looking at that area for residential purposes as it continues to grow into its own neighborhood, the more density that we can provide in that neighborhood, the more opportunities we have for other economic development opportunities around commercial use,” said Richardson.
The council originally approved the project in June, with the initial proposal calling for more than 12,000 square feet of street-level retail space. The revised plans reduce the commercial area to about 2,100 square feet.
“They’re going to do a little bit something different on the first floor,” said Richardson. “They’re going to have some amenities that they’re adding to this project: a sauna, a gym, and then they’re going to then have a smaller footprint for commercial.”
Richardson said the developers also are reducing the size of the residential units to accommodate the increased number of apartments.
“Initially, they were going to make larger loft size units, but now they’re going to make a little bit smaller to be more in line with what we have in the Warehouse District, which is between one and two bedrooms,” she said.
Responding to a comment from council member Tim Riggenbach, Richardson said a grocery business could be one of the options for the building’s one commercial space.
“That is actually a conversation that we’re looking to have,” she said. “As more people start moving into that neighborhood, we are seeing real interest in looking for some type of grocer in that part of the city.”
