111
PEORIA, ILL. — EM Properties has plans to develop a luxury hotel in downtown Peoria. The 500-room, Marriott-branded hotel will include the renovated Hotel Pere Marquette, as well as a new 14-story, glass-curtained tower on an adjacent site. A 500-car parking deck, which will include ground-floor retail and restaurant space, is also being constructed. Both the hotel and garage will be connected to the Peoria Civic Center via an elevated walkway. The $102 million project represents a public/private partnership, with the City of Peoria providing approximately $40 million through a bond issuance. Groundbreaking is scheduled for the fourth quarter, with completion slated for 2012.