Now that a major developer has withdrawn from a plan to revitalize Old Town, the city of Peoria is looking to the future of the downtown area.
Phoenix-based Vintage Partners had worked with the city for the past two years to breathe life into Old Town, but recently pulled out of negotiations citing delays and the termination of Economic Development Director Rick Buss, who had been spearheading the revitalization.
In a June 3 letter sent to city council and staff, Walter Crutchfield, a partner at Vintage Partners, said that initially, the prospect of the partnership was met with great responsiveness and alignment of vision, but the city delayed in producing a final development agreement, eventually requesting in March to rework a new memorandum of understanding before moving forward.
