Biz owners call apt. project win, win.
There could be a boom in upscale apartments along Peoria's Main Street. Thursday the Peoria zoning board gave the green light to Missouri developer Tim Roth for a multi-million dollar apartment project.
Roth said nearly 300 people would be able to live in the upscale five story apartment building.
"We're moving forward on completing the architectural plans . We'll go out to bid again probably in august and see where that lands us. If it all comes back we'll close by the end of the year," he said.
Roth wants to target college students or medical student for the 152 unit building. It would be on land off Main street in between Russell, Garfield and Orange streets. A strip mall would relocate and the first floor of the building would have retail space. Some Main street business owners call it a win for all.
"We think it's fantastic, anytime anybody wants to come in the neighborhood and invest that kind of money and in that big of a project we're all for it. this neighborhood is up and coming but we can definitely use more investment," said Urban Artifacts owner John Walker.
"It's a great area. the location is so good cause it's close to downtown but yet not too far where if you did want to go out north you can catch the expressway to head out towards the mall and things," said Moon Dancer Boutique owner Julie Vonachen.
Roth is in the process of buying the land including a small strip plaza. He hopes to close on land acquisitions by the end of the year. Roth said construction would not start until the first quarter of 2019 and could take 15 months.