Securing Bass Pro Shop in East Peoria has served as the impetus to complete the long awaited development for the new downtown. The East Peoria City Council Tuesday night voted 4-1 to proceed with an agreement with Cullinan Properties, which in effect will bring a Target store to the new downtown.
Target is the 2nd largest discount retailer in the U-S, and ranks 33rd on the Fortune 500. Also pending, is a direct agreement between the city and Costco Wholesale Corporation. Costco is the 3rd largest U-S retailer, 9th biggest worldwide, and the largest membership warehouse club chain in the country. Once, that deal is complete, it would be the 1st Costco outside of the Chicago area.
East Peoria City attorney Dennis Triggs says all these new and pending agreements are co-dependent. He says one doesn't come to fruition without the other, so it's imperative to get them done as close together as possible.
These projects plus the new Hoilday Inn and Suites and Hometown Community Bank, are all projected to begin construction in 2012, with completion in mid or late 2013.
