A Joint Service of Bradley University and Illinois State University
Play Live Radio
Next Up:
Available On Air Stations
Local News

New 142-Unit Riverfront Apartment Complex Gets Green Light From EP Council

Teekona Group
Concept art for the new apartments along the Illinois River in East Peoria.

The East Peoria City Council gave final approval Tuesday for the construction of a 142-apartment mixed-use development along the Illinois River.

The new complex will be constructed by the Teekona Group on city-owned land near the former Granite City restaurant.

"I think this will be a very nice development," said Commissioner Dan Decker. "And I think, looking at all the people trying to purchase condos or renting places on the Peoria side, I believe they will go very quickly."

Teekona Group is investing at least $13 million in the project. The city is offering the land and up to $3.7 million in TIF funds over 15 years to get the ball rolling.

This is the second of two mixed-use developments in the city's central business area announced by Mayor John Kahl. The other, announced earlier this year, is a $45 millioin, 230-unit development on land near City Hall in the Levee District.

"It's a goal of the city dating back many, many years ago to have a residential component down here in the downtown area," Kahl said. "So I think it will complement the area." 

Both projects expect to break ground next year, with completion anticipated in 2022.

We’re living in unprecedented times when information changes by the minute. WCBU will continue to be here for you, keeping you up-to-date with the live, local and trusted news you need. Help ensure WCBU can continue with its in-depth and comprehensive COVID-19 coverage as the situation evolves by making a contribution.