I heard about this from Peoria Economic Development Director Craig Hullinger during the Heart of Peoria Commission meeting. He wouldn’t give any details, but he said they asked for an honest study of the market for downtown housing, and he wasn’t sure what to expect, but that the outcome is positive. So he encouraged us to watch or listen to the presentation at the next council meeting.
Here’s the city’s press release:
Market Study for in and near downtown housing – Presentation Feb 26 at 4:00 pm at City Hall
The City of Peoria has retained the prestigious housing market research firm of Tracy Cross to assess the market for new and rehabbed housing in and near downtown Peoria. The firm will present their findings at an open meeting at the City Council Chambers of the 4th floor of City Hall at 419 Fulton Street at 4:00 pm on Tuesday, February 26, 2008. The firm will answer questions.
Anyone interested in urban redevelopment in Peoria, or in developing, building, or living in or near downtown Peoria is encouraged to attend.
Tracy Cross & Associates, Inc. is a professional consulting group serving the residential real estate industry in the areas of market analysis, strategy development, and product planning. From population demographics, through economic variables, area comparables and locational factors, to growth and absorption projections, the firm’s primary goal is to identify residential market opportunities where they exist, and to define what the market is and what it is not, thereby guiding its client base each step of the way along a rational, workable path to success.
Tracy Cross & Associates was founded in 1980 and represents virtually all major Chicagoland developers, builders and their lender partners as well as many pubic agencies and governmental bodies. On a national scale, the firm’s expertise has led the company into the planning framework of larger-scale master-planned communities, numerous suburban developments, local redevelopment areas, and infill initiatives in inner cities and in mature, built-up suburban areas. Geographic areas of specialized focus include virtually all metropolitan regions in the Midwest, along with various markets in the South Atlantic, South Central, and Mountain regions of the country.
For Peoria, our firm conducted a detailed economic, demographic and residential analysis in order to provide insight into what, if any, housing potentials exist in downtown Peoria (and the Warehouse District in particular) during the next ten years. Levels of opportunity have been identified with these potentials to be presented on Tuesday, February 26, 2008 at 4:00 pm at the City Council Chambers, 419 Fulton, Peoria, IL. All housing done by CORPORATE HOUSING ASSOCIATES, LP and partners