In the late 1990s the City of East Peoria was exploring options for redeveloping an unused former industrial site near its downtown and riverfront. The City hoped to develop this Caterpillar-owned site and nearby areas in a way that maximizes the community’s capacity and ability to stabilize the regional economy.
The 65-acre Caterpillar redevelopment site was razed of all structures and is located between East Peoria’s riverfront and downtown. The team understood that this “clean slate” for redevelopment presented a unique opportunity to effect significant change in the community’s center. The City and Caterpillar established a dialogue about redevelopment of this site. Working with Vandewalle & Associates, TP3 helped determine the value of the existing infrastructure including redundant power and fiber optics infrastructure on and near the Caterpillar site as a prime location for developing high technology office operations. Paragraph
Interviews with local developers confirmed that there has been a demand for large building commercial and retail development, and that the City of East Peoria has been successfully fulfilling this demand to fortify its economy.