By Tasha Anderson for AZBEX
The City of Peoria is currently seeking a Master Developer with a “world class vision” to fund, design, construct and operate a massive mixed-use development on 17 acres in its P83 area at 83rd Avenue and Bell Road.
A Request for Proposals was recently issued by the City of Peoria to find a highly experienced and reputable Master Developer (singe entity or joint venture), to construct approximately 1MSF or more of vertical mixed-use development called Stadium Point at P83.
“The Stadium Point Project is a premier ‘shovel ready’ 17-acre City owned site, located in the heart of Peoria that represents a high profile, key strategic site and development, envisioned as a “game-changer” for the City of Peoria and the entire region. This vertical mixed-use development is envisioned to include the design and construction of mid-rise to high-rise Class A office space as a key economic driver,” the RFP states.
The proposed Class A office space will be approximately 500KSF. Other proposed elements of the mixed-use development include a +/- 160KSF full-service hotel, 250KSF of multifamily residential and approximately 100KSF of retail, dining and entertainment space.
According to the RFP, “the project is likely to be designed and constructed as one cohesive master planned project. The project will likely need to be constructed in phases.” The RFP goes on to note anticipated target timelines for completion:
- Design: 9-12 months
- Phase 1 Construction (Class A Office, Hotel, Parking): 24 months
- Phase 2 Construction (Residential, Retail, Dining, Entertainment): 24 months
- Project Completion: 57-60 months
Back in 2016, real estate firm, Plaza Companies had announced an Exclusive Negotiating Agreement with the City of Peoria to develop the project, known as the Peoria Innovation Center Campus at P83 at the time; however, the ENA with Plaza Companies expired in 2017 and the City of Peoria later rebranded the potential development as Stadium Point at P83.
A non-mandatory pre-proposal conference is scheduled for November 21st at 9:00 a.m. at the Peoria Sports Complex – Colonnade, 16101 N. 83rd Avenue. Interested firms can also join the meeting via a GoToMeeting link.
The RFP will be open for 90 days and all proposals will be due to the City of Peoria on 5:00 p.m. January 22nd. A notification to shortlisted firms will be sent out on February 10th, and interviews are expected to begin the week of February 17th. A firm is expected to be selected in March and notice to proceed by City Council is expected in May.
“The Stadium Point project will stand out as being unique to the region and will serve as a key determinant attribute – setting Peoria apart and becoming known as the Place to locate world class, sustainable, and future ready businesses,” according to the RFP.