The Murray Building in Peoria’s Warehouse District has been approved by the National Parks Service for its design and construction methods as they relate to the Historic Tax Credit program.
The CEO of the property management team heading up the redevelopment of the building says the Historic Tax Credits are significant to the feasibility of the Murray Place project.
He says the approval of Tax Credits lays the groundwork going forward.
The Murray Building renovations are turning the old retail outlet into a mixed-use building.
Rhodell’s Brewery is on the first floor, with additional retail and commercial space extending to the second floor. Apartments are planned for the third and fourth floors.
Farnsworth Group is planning to move into the building at the end of August. Residential space is expected to be ready in the fall.