The City of Peoria has received a nearly $2-million federal Economic Development grant for a North University Street project.
The federal award will be paired with another $2-million grant from the Illinois Department of Transportation as well as other city funds. The reconstruction of about one mile of North University from Pioneer Parkway to Townline Road has a $5-million price tag.
The project will provide modernized infrastructure, access, and safety improvements to Pioneer Industrial Park.
Peoria Mayor Jim Ardis says the work is important to the 170 businesses that have invested in the industrial area. He says it will also provide a measure of stability for the 16,000 people employed in Pioneer Industrial Park.
The project is scheduled to begin in May of next year and be complete in December.