Peoria Downtown Developments News

[thefish7]

Not posted yet, but I saw it on the front page of the paper while getting my lunch...

http://www.pjstar.com/business/x776477179/True-headquartes-hotel-envisioned

I think this would be a nice development and a good opportunity for the city to encourage those nightlife spots getting relocated to move down to the riverfront (which is where I think they should be).

[tornado]

It might help bring more top basketball to Peoria....it is good news.
I just hope in this tough time, it won't bankrupt the city further to provide financial backing...
(almost $40 million in public financing)


But here's my concern...and it is an eye-opener....
note that the PJS reported all the way back in June...
"Al Zuccarini and Jay Abraham first comment about their intentions
to purchase most of the taverns from 500 Main St. to 514 Main, plus
the adjacent Madison Theater at 107 NE Madison Ave."

Hmmm...after all these years that Big Al's has been there, only NOW (in June) the owner of Big Al's suddenly starts buying up all the properties on that block.....
Just what did he know then and how did he know it......so that he could acquire valuable properties that the City of Peoria would be spending $40 million trying in just a few months to acquire for a hotel project??
Was Big Al's tipped off so he could make a bundle??
Anyone have an answer??

[SFP]

T, maybe one of his girls was given a tip?

[tornado]

Maybe the tip he was given was in exchange for an open seat that he was going to fill

[BUBrave28]

Looks like a duck, quacks like a duck. By golly, must be a duck.

[Braves4Life]

Something smells real fishy in the river city................ but Peoria DESPERATELY needs a top-notch hotel. They have NOTHING!

[Guinness]

Woah woah woah, move Big Als? No. No touching my sanctuary of bars. Bring back the 'old' lady with the original owner too.

[BUBrave28]

T, what open seat are you talking about?

Not only is Al going to make a ton off of the buildings he currently owns, but he also bought up a bunch of property when it was still cheap so he would have a place to stick his bars once he sells off the current locations. He obviously knew EXACTLY what was going on well before anyone else, probably even the people he bought those cheap properties from. The prices of those places likely would have gone way up given the hotel development news, but Al was the only one who got the news.

It's like insider trading, except with property and not stock. Al and Abrahms run this town eerily similar to those back in the 1920's...everyone knows it, most don't like it, but noone will say anything about it.