The city of Peoria Arizona has moved forward with a development agreement needed for a new mixed-use office project in the West Valley city called Stadium Point. The project will comprise more than 1 million square feet of space across 17 acres owned by the city along 83rd Avenue south of Bell Road at the Peoria Sports Complex, the city’s spring training facility, within the P83 entertainment district. Stadium Point is expected to start construction in 2023 and comprise 645,000 square feet of class A office space between two buildings, a 220-room hotel, 357 multifamily units and 65,000 square feet of retail or restaurant space and a 28,000 gross-square-foot food hall, according to the developer. The developer, Steinhauer Properties Inc. will purchase the site, complete construction and then transfer ownership of the property back to the city for up to eight years or until at least $15 million in public infrastructure has been completed by the developer, which could occur before eight years. This infrastructure includes an activity plaza and portions of internal roadways serving the stadium.
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