The East Peoria City Council approved an agreement with a local developer for six acres of vacant property. The city-owned property is located in the downtown Levee District across from the new Target store. The agreement gives developer, WCT properties, four months to attract tenants to the area. City Commissioner Gary Densberger says the agreement gives the city approval over the final building design and tenants:
“One of our intentions with the entire downtown has been not to build a shopping center it’s to build a downtown. Therefore we’re interested in unique to the area businesses, especially local businesses that may want to locate there,” Densberger says.
Other council members say they wanted more details on the agreement and the developer before a vote for final approval later this month. The developer would give the city more than $2 million for the property if the deal goes through.