Residential Development Opportunity 1601 W. Northmoor Road Peoria IL

The City of Peoria is requesting qualifications from master developers for a residential development opportunity on approximately 70 acres at 1601 W. Northmoor Road (the former Exposition Gardens site), with statements of qualifications due June 16, 2026 at 2:00 p.m. Central Time. A pre-submission meeting and property tour occurred May 11, 2026; questions were due May 25.

The City purchased the property through foreclosure auction in October 2025 for $1,201,100 and seeks qualified developers to create a new residential neighborhood with mixed-use commercial development. The site is zoned primarily for single-family residential use and is limited to a maximum of 200 dwelling units due to sewer capacity constraints. The City encourages housing options in the $200,000 to $300,000 price range, with at least 30 units at or below $300,000, reflecting the City's acquisition priority of supporting middle-income housing opportunities. Selected developers must be agreeable to pay the $1,201,100 purchase price.

Statements of qualifications must include a transmittal letter, executive summary, developer team description, portfolio of comparable projects, development concept with conceptual illustrations, financial capacity demonstration, and disclosure of any legal actions within the preceding three years. Evaluation criteria are Experience and Qualifications (30%), Development Design (25%), Financial Capacity (20%), Development Capacity (20%), and M/WBE and Local Firm Participation (5%).

The City will select two to four qualified developers from the RFQ process to proceed with detailed design and financial proposals, followed by interviews in July 2026, negotiations, and final City Council approval. Property conveyance will occur on an as-is basis without warranty. The City has not conducted environmental analysis; developers will perform environmental assessments at their own expense. The City reserves the right to reject any or all proposals and assumes no obligation to reimburse respondents' costs.