Tuesday, a groundbreaking ceremony was held in downtown Peoria. Developer Gary Matthews was joined by representatives of Marriott International and local leaders.
Demolition begins Wednesday. It's been nearly four years since the project was first announced.
The plan includes establishing a full service Marriott by Spring 2013 and a Courtyard by Marriott in 2014.
Matthews thanked supporters for sticking with the project. He say it's finally time to move forward.
"I've always had to make excuses why we couldn't get this thing done. But it's finally here," Matthews said.
"It's never easy to get a project done on this side of the river. But we're going to get this one done and we're very anxious to see that happen," Jim Ardis, mayor of Peoria.
Construction will create more than 350 temporary local jobs.
Demolition starts Wednesday with the parking deck on the corner of Monroe and Fulton Streets downtown.