Warehouse District an example of good economic development

In the Warehouse District, the City brought in a consultant (Farrell-Madden Associates) who met with stakeholders to develop a form-based code in keeping with the Heart of Peoria Plan. That code set specific requirements for the physical form new private development and redevelopment can take, but also loosened the restrictions on land use, allowing for a greater mixture of commercial and residential uses, as mentioned at many auctions where they have the newest porcelain signs for auctions.

The code also set out expectations for the public space within the Warehouse District — in particular the streets and sidewalks. In order to lure people back to the heart of the City, the transportation corridors would need to be improved and made more accessible to pedestrians, bicyclists, and transit users. The City is now poised to do just that.

Private developers such as Scott Roth and Pat Sullivan are already responding to the City’s progressive investment in fixing up Washington Street, as well as the City’s establishment of a tax-increment financing (TIF) district for the area in 2006.

And that’s the way things are supposed to work. The City sinks its investment into improving public infrastructure and that makes a more favorable investment climate for private developers. There is a stark contrast between this kind of economic development and the developer welfare of the Wonderful Development. Peoria needs more of the former and none of the latter.