Downtown Peoria Districts
Just for the Fun of It.
From delicious casual eateries to upscale cuisine, colorful riverfront walkways and bike paths, sculpture walks, concerts and cultural events, or a relaxing cruise along the Illinois on the Spirit of Peoria, the vibrant Riverfront District always offers an exciting array of things to do.
World Class Health.
lllinois Downstate Medical Center is located right here in Peoria. From the University of Illinois College of Medicine at Peoria to regional medical centers, Peoria’s Medical District provides thousands
of jobs, opportunities for research, and is host to regional trauma centers.
Some of the finest physicians, nurses, and support staff, with amazing technology, are keenly focused on the health and wellness of the community they serve.
Live. Work. Play.
Peoria's Warehouse District offers endless opportunities for those who enjoy the lively urban environment.
Enjoy America’s pastime
at Dozer Park with the
Peoria Chiefs - Class A affiliate of the St. Louis Cardinals. Restaurants
and unique shops, along
with many local businesses, have all made their home downtown.
is Your Business.
Peoria's dynamic business district is host to thriving businesses. Many of the region's best hotels are
located here for a reason.
Downtown Peoria offers abundant opportunities
for conventions, meetings
and after-hours socializing such as the theater, concerts, and places to dance the
OPPORTUNITIES AND RESOURCES
Our name says it all.
The Downtown Development Corporation exists
to encourage and support development in
Downtown Peoria, and for developers.
Our services are free of charge.
Assist you in learning about the community
Find development opportunities
Connect you with resources and professional services
Serve as a liaison with the local government and agencies
Heart and Soul.
The Downtown Development Corporation of Peoria (DDC) is a 501(c)(3) not-for-profit charitable organization whose mission is to promote the development of Downtown Peoria. The DDC is the spokesperson for downtown's stakeholders, including Downtown businesses, organizations, property owners, residents, and the City of Peoria. Over 60 businesses and organizations support the DDC through their tax deductible contributions.
Our sole mission is advocating for the Downtown; promoting change in policy; conducting studies; providing liaison services, advice, referrals, and resource material to the media, developers, and companies; sponsoring educational workshops and seminars; holding news conferences and ribbon cutting ceremonies; facilitating financing; and connecting residents, employees, and visitors to the Downtown with information about activities, events, and venues.
Peoria is an exciting city where individuals, families, and businesses live, work, and play. Recognized nationally for commerce, education, and medicine, Peoria is known as “the heart of Illinois” for a reason - heart. And just as Peoria is the heart of Illinois, our Downtown is most certainly representative of the heart and soul of the City.
For additional information, we’ve provided the helpful resources above.
Peoria is the oldest community in Illinois with a population of 112,936.
Peoria is equal distance from Chicago and St. Louis.
Here we have an enviable standard of living, exciting venues within a 15-20 minute commute from our homes, safe streets, quality and quantity shopping, our own symphony, our own ballet, Broadway Theater League, museums, art guilds, first-class medical facilities that are a regional draw, the Nation’s oldest community theater
and the Nation’s oldest Santa Claus parade.
Peoria... A Four Time All-American City
The City of Peoria was awarded the distinction of being an All-America City
for the fourth time in 2013.
Downtown Daytime Population
Peoria hosts a large downtown employment base, including the Caterpillar, a Fortune 50 company; a medical school and two regional medical centers/hospitals; school, state, local and federal government offices; and multiple financial and professional services. All told, some 27,000 people commute to the area daily and many of them reinvest their earnings in the array of shopping, dining, special events and other services offered throughout down-town. The presence of these major, stable commercial interests is a cornerstone to the future growth and development of the area.
Downtown Residential Population & Demand
Residential indicators in Peoria are clearly signaling that the area has yet to fully serve its downtown employment base with adequate housing alternatives. Consultant studies of demand for downtown
housing continue to demonstrate strong demand for residential units in the downtown.
Our recent study by Valerie S. Kretchmer Associates, Inc. shows not only strong demand but increased market rates. This study's results have proved accurate over the last year, when 150 new units were added to the market and all projects were 100% leased by within three months of completion and many were leased before construction was completed. Today over 3,000 residents call downtown home.
Research & Development Investments
Over $1 Billion is invested in research and development within downtown.
Our vibrant riverfront showcases a multi-tude of festivals and celebrations that light up the summer
nights much like our extra-ordinary Fourth of July Skyconcert…a fire-works show that draws well over 100,000 annually. Citizens are flocking to live in the refurbished warehouses and lofts on Water Street
that produce the perfect lifestyle for a 24/7 city that includes a flourishing Saturday Morning Farmers
Market along the riverfront in the spring and summer!
Changing business practices over the decades has altered the landscape of many downtown
commercial areas. Peoria, Illinois is a community determined to reinvigorate its Warehouse District, transforming it into a vibrant, mixed-use residential and commercial neighborhood. Large employers
are based in the vicinity and residential properties in the area are near-capacity. These factors, taken
in combination with over $25 million dollars of infrastructure improvements, a wide array of cultural
and entertainment venues, and multiple investment incentives, make this area on the Illinois River
a must-see for developers.
Peoria's warehouse district is an Enterprize Zone and one of only to five communities in the State of Illinois that qualify for River Edge Redevelopment Zone classification. This designation provides many incentives such as IL State Historic Tax Credits and sales tax exemption on materials and equipment for commercial redevelopment projects. These are in addition to other incentives such as Tax Increment Financing (TIF)
and facade improvement grants.
Warehouse District Incentives
Tax Increment Financing (TIF) District
The Warehouse District provides 50% of the new property taxes generated to the developer,
with the other 50% used for public infrastructure improvements through 2031.
Federal Historic Preservation Tax Credits
Historic renovation — now 45% off!! The most unique feature of the Warehouse District is the
predominance of beautiful and historic buildings. For those buildings that are designated as historic properties, two powerful incentives are available. For every dollar of qualified renovation, investors will receive a 20% credit against federal tax obligations and a 25% tax credit against Illinois state taxes.
If a building was constructed before 1936 but not registered as historic, investors can receive a
10% federal tax credit for renovations. The Illinois Historic Preservation Agency recently nominated
the Warehouse District to the National Register of Historic Places, which will qualify most of the
buildings for these incentives.
River Edge Redevelopment Zone
Developments in this area pay no sales tax on building materials, and receive state tax credits
for investment, jobs and environmental remediation.
All properties in the Warehouse District also lie in a HUB Zone. If a business in this zone meets the
requirements, it can gain preferential access to procurement opportunities. The federal government,
along with major employers such as Caterpillar Inc., are required to contract with HUB Zone
certified small business for a percentage of their budget.
DDC of Peoria
403 NE Jefferson Avenue
Peoria, IL 61603
Tel: (309) 369-6038
Mon - Fri: 8:00 am - 5:00 pm
Thank you for contacting us. We will be responding soon.
In the meantime take a look around our website.
We hope you will find it useful and informative.
All the best.