Medical & Commercial

Caliber by Greystar
Peoria city leaders joined Greystar, a global leader in the investment, development, and management of institutional-quality commercial real estate, on June 4, 2024, to celebrate the completion of Caliber by Greystar, a three-building, Class A industrial development near 79th and Grand Avenues, in Downtown Peoria.

Caliber marks the first development piece to deliver within Greystar’s $500 million, 88-acre Peoria Place master plan, which at build-out will include luxury apartments, build-for-rent homes and ground-floor retail in the heart of Peoria’s historic downtown. Caliber is located within a 30-minute drive of 3,450 transportation/warehouse and manufacturing firms, and more than 14,180 employees from those sectors. In January 2024, Greystar broke ground on Marlowe Peoria Place, which will add 370 apartment homes to the Peoria Place master plan. The project will feature a fitness center, pickleball court, two dog parks, a coworking space in the clubhouse and a pool with cabanas and spa. At build-out, Peoria Place will include more than 700 apartments, 255 build-for-rent homes, 4,900 square feet of retail space and the Caliber logistics project.

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A Home2 Suites by Hilton and Springhill Suites by Marriott is coming to the northwest corner of Jomax Road and Lake Pleasant Parkway.

While the 7-acre site has been zoned commercial since 1992, the growth in rooftops over the last few decades has finally provided the critical mass to bring hospitality options to this area. With the zoning and development requirements already in place, the City worked with the developer and representatives from the local community through the Site Plan process to shape the outcome and maximize the compatibility in the area.

Construction on the Home2 Suites by Hilton is set to begin in the summer of 2024. The hotel will feature 103 suites, with an estimated opening date in late 2025.

Next door, the Springhill Suites by Marriott will follow shortly. That property will be opening with 97 suites in late 2026 or early 2027.

All bed tax collections support the City’s General Fund, which pays for vital city services such as Police and Fire-Medical, in addition to quality-of-life services including Peoria’s beautiful parks and trail system.

In addition to these two new hotels, developers are also looking for new high-quality restaurants and service-based retail businesses to build on the 2 adjoining acres. These additions will enhance North Peoria’s appeal as a destination for business travelers and tourists.

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HonorHealth is building a 95,000 square foot medical campus, just off the 101, south of Bell Road. This facility brings high-quality employment and close-to-home access to a variety of medical care services for residents. The new HonorHealth Campus in Peoria will bring together an extensive offering of outpatient cancer care services under one roof. The facility features a variety of services including imaging, infusion, clinical trials, medical oncology, physical therapy, primary care, and a surgical center.

The HonorHealth Medical Campus at Peoria is expected to be completed in 2025.

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Trailhead, a $65 million-dollar mixed-use development is under construction at 83rd Avenue and Happy Valley Road. A new Safeway opened October 18. This 900,000 square foot property will soon welcome desired retail, and many fine dining and high-quality restaurant options. A 350-unit multifamily housing complex, church and amenities, including a water feature, picnic and games areas and a community garden, plus a host of community events are also planned with a design to incorporate the surrounding Sunrise Mountain Preserve.

Trailhead’s first retail and restaurant offerings are set to open by the end 2024. In March 2023, project developer the Pederson Group announced two new restaurant leases. Tacos N Craft will feature scratch-made tacos and craft beer. Sparrow, from the creators of Squid Ink, will be American-style themed with specialty menu offerings.

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In the Fall of 2024, The Park at 83, a $20 million restaurant district opened just steps away from Peoria Sports Complex at 83rd Avenue & Paradise Lane. Three new restaurants border a 2-acre park that will host community events, brand activations, outdoor concerts, maker’s markets, movie nights and more. North Italia and Blanco Cocina + Cantina are open now. Postino Wine Bar opens early 2025.

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Peoria Logistics Park

In the Southern part of Peoria, over one million square feet of commercial development was added in 2023 and 2024 to support warehousing, manufacturing, and distribution clients. This includes the Peoria Logistics Park at 75th and Northern Avenues, home to Frito Lay building.

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Related Information

www.peoriaed.com