Future Development

Check out the awesome aerial views of the construction progress at Providence Pointe! It’s so exciting to watch this amazing redevelopment of 142 affordable housing units and two new community buildings take shape. Who else is ready to come check out the completed project in Spring of 2024??

Financing on the Development closed in September 2021. Demolition and construction will be phased over two years to allow existing residents to remain on site during construction. The first buildings in the Development are scheduled to be completed in late 2022 with construction fully complete by March 2024. The first phase of demolition is complete, and construction is underway in the southwest corner of the site. The initial underground utility work, first set of foundation and initial framing has all been completed. This first phase of the Development has a total 50 units which will be completed on a rolling basis between November 2022 and February 2023.

The groundbreaking event for Providence Pointe (formerly known as “Taft Homes”) in Peoria, IL took place on October 7, 2022. Discussions of redeveloping the site have been circulating since 1996. The Peoria Housing Authority and Bear Development are proud to transform the site into 142 NEW units of quality, safe and affordable housing that includes community facilities.

It took incredible teamwork and several years of efforts to reach this milestone. This project truly showcases the power of public-private partnerships in the development of affordable housing for those most in need in our community.