BECK: The State of Peoria – Future Economic Development

Peoria is at a pivotal moment in our city’s development. With strategic partnerships, innovative development, and a commitment to smart growth, we are laying the foundation for a successful future that will benefit current and future generations of Peoria residents.

In December, Peoria made history as we formalized a groundbreaking partnership with the Arizona State Land Department, allowing the city to lead planning efforts for the Peoria Innovation Core – a 6,700-acre development along the Loop 303 corridor. This area represents the future of Peoria’s economic development.

Recognizing that 75% of Peoria’s remaining developable land is state-owned, this partnership perfectly aligns our council’s vision for smart growth with the State Land Department’s constitutional mandate to support public education funding for our K-12 school system. By enhancing the market value of the land, the Peoria Innovation Core is anticipated to generate up to $1.5 billion, directly benefiting Arizona’s public education system for decades to come.

Through collaboration, and our first-of-its-kind, innovative approach, Peoria will welcome thousands of new jobs across key industries, providing our current, and future residents, the opportunity to live, work, and enjoy amenities closer to home.

To that end, this agreement also accelerates development by providing shovel-ready sites, following our initial investments in entitlements, roadways, and utilities, because everyone wants to shorten the gap between groundbreaking and grand opening.

Initially, Peoria will spend $140 million, which is already budgeted in our 10-year Capital Improvement Plan, to begin building roads, water, sewer, and electrical on the land, greatly increasing its overall value for auction. Once the land is sold, the city will be reimbursed for those infrastructure costs.

This leads directly into the most important part of this agreement – that it will result in $500+ million in reimbursed infrastructure costs for the Peoria taxpayer. This is a very significant moment in our city’s history. It’s a moment that will change how cities do business with the State Land Department, and Peoria is leading the way.

In October, we celebrated the other piece of our State Land strategy – the North Peoria Gateway, 1,620-acres of land along the Loop 303 and Happy Valley Parkway.

This partnership will ensure that our city is able to deliver on what our residents want – signature restaurants, retail, and more open space – but also, what residents expect – high-quality and growing city services, without raising taxes.

For decades, Peoria has worked tirelessly to navigate the unlocking of these 8,300-acres, and I am incredibly proud that we have been able to execute on this bold vision for the future of our city.

Between the PIC, the NPG, and the investments already committed by partners like Amkor, our city will see an influx of thousands of new jobs over the next decade.

That number represents far more than just a boost to our local economy. It represents a shorter commute for the Peoria resident that previously spent hours commuting to and from a job outside of the city. It represents a child who gets to spend more time with their parents in the evening. And it represents an opportunity to dramatically improve the quality of life for everyone who calls Peoria home.

As a city, we are committed to taking a holistic approach as we balance the tenants of smart growth and a shift away from our reputation as being only a bedroom community.

State Land provides the strong backbone for Peoria’s future, but I am also excited about all that we’re already delivering for Peoria residents.

This year, we celebrated many landmark grand openings, groundbreakings, and new developments.

In November, we celebrated the much-anticipated groundbreakings of American Leadership Academy and Saddleback Heights.
Expected to open this fall, ALA will immediately be home to 2,400, K-12 students. The 25-acre campus will work to relieve the overcrowding of Peoria’s local schools and provide additional school choice opportunities for students and families.

Saddleback, a high-end residential community in Northwest Peoria, will combine pristine open spaces and scenic views. The 5,300-acre community is expected to be completed with over 8,000 residential units, a minimum of 600 acres of new open space, and a central town center.

In October, we celebrated the grand opening of Safeway at the Trailhead. This marked the official kickoff of the 900,000 square foot property, which is soon to welcome even more needed retail, dining, and amenities.

Shortly after, we celebrated the grand opening of the $20 million P83 Dining District. Located adjacent to the Peoria Sports Complex, North Italia and Blanco opened last fall, experiencing immediate success, closely followed by Postino’s official opening this past January, only increasing the popularity of the project.

While the northern part of Peoria continues to make up the majority of available land, we are forever focused and committed to progressing our redevelopment in historic downtown. Last year, we announced agreements with the Jefferson House and Caldwell County BBQ. Just weeks ago, our council had the opportunity to celebrate the official groundbreaking for Caldwell.

For decades, past councils have worked tirelessly to revitalize historic downtown, and I am incredibly proud to say that this council has finally and officially turned those plans into reality. Both developments are progressing quickly and will immediately act as a force multiplier as we continue to attract quality development in our downtown.

As our city continues to grow, we remain deeply committed to preserving the natural desert and open spaces that make Peoria so special. Through partnerships with the State Land Department and private developers, Peoria is set to add 3,800 acres of new, dedicated open space — preserving these landscapes for generations to come.

To ensure that this open space is maximized and protected, we’ve established the Mountains, Open Space, and River Ecosystems Division within the Parks and Recreation Department. This division will focus on developing new recreational assets, while also maintaining our existing and forthcoming desert landscapes.

As we expand, we remain very committed and focused on attracting the right healthcare, retail, and development partners to meet the current and future needs of our local communities.

Peoria has been, and will continue to be, laser-focused on this type of smart growth and strategic development. With ongoing partnerships, and with the availability of land coming online, I truly believe that Peoria can become one of the most desirable destinations for high quality economic development across Arizona.

For information on Peoria’s economic development Initiatives, please visit www.peoriaaz.gov/economicdevelopment.