City of Peoria Awards Plaza Companies Long Term Ground Lease For Development of Commercial Parcel Along Loop 101

The Peoria City Council voted Tuesday night to enter into a new agreement with Plaza Companies on a significant new development project at the Loop 101 and Peoria Road. Plaza Companies will enter into a long-term ground lease on the 14-acre property, located at the southwest corner of the highly trafficked intersection. Plaza will design, lease and develop the city-owned parcel to create a new…