What is the story about?
What's Happening?
The city of East Peoria has begun welcoming tenants to the new Blutowne apartment complex located in the Levee District. The development, managed by Flaherty and Collins Properties, has opened its doors to the first 18 households as of September 14. The complex is being completed in phases, with the first phase consisting of 61 units. By early October, approximately 30 households are expected to be residing in the complex. The entire project, valued at $50 million, is anticipated to be completed by spring 2026. The city has supported the development through a Tax Increment Financing agreement and a $16 million loan. The complex will feature 219 apartments, including studio, one-bedroom, and two-bedroom units, with rents ranging from $1,150 to $2,600 per month.
Why It's Important?
The opening of the Blutowne apartment complex marks a significant development in East Peoria's Levee District, potentially boosting the local economy and providing new housing options. The project is expected to attract residents seeking luxury living with amenities such as a fitness center, conference area, rooftop lounge, heated salt-water pool, and pet park. The city's financial support through a Tax Increment Financing agreement and loan indicates a commitment to urban development and economic growth. This development could lead to increased business activity in the area, benefiting local retailers and service providers.
What's Next?
As the Blutowne apartment complex continues to develop, additional phases will be completed, with the second phase expected by mid-October. The completion of the entire project by spring 2026 will likely increase the residential population in the Levee District, potentially leading to further commercial and infrastructure developments. Stakeholders, including city officials and local businesses, may anticipate increased economic activity and community engagement as more residents move into the area.
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