A new affordable housing development project is going to bring 30 new homes to Peoria’s East Bluff neighborhood.
“A program like this helps stabilize a neighborhood and helps bring quality housing into a neighborhood. This is the long-term plan to be able to help an area such as the East Bluff,” At-Large Council Member Sid Ruckriegel said.
The Peoria City Council voted 9-1 to allocate $560,000 for the homes from dollars intended to go to projects like this. Peoria Opportunities Foundation will oversee construction and help manage the properties right from the East Bluff.
“This neighborhood has a lot of deteriorated rental property so there is a need for homeownership but there is also a need for quality rental property so these are rental properties,” Peoria Opportunities Foundation Executive Director Jane Genzel said.
“It’s 25 lots. We’re doing 20 single-family homes and five duplexes. Our hope, our aspiration is that it’s not just 30 units of housing that we are able to connect the people who live there with other organizations.”
The $10.7 million needed for the homes, that will be built on lots provided by the city and county, will come from tax credits, grants and donations.
Current landlords in the area like Josh Allen say they welcome new development that he feels ultimately helps the area as a whole.
“Whatever we can do to make Peoria better. If it’s gonna uplift the community if it’s gonna be revived the community let’s do it, it’s a blessing. I think from a financial perspective I would think if these units are going to go for money it would raise our property value not challenge it,” he said.
Construction is set to begin in 2020 with all homes completed after 14 months. Applications are not open yet but Peoria Opportunites Foundation but if you would like to put your name on a preliminary shortlist you can call Jane Genzel at (309) 672-5212.