The future of an ambitious $510 million mixed-use development planned on 17 acres as a live, work, play project for the Peoria Sports Complex appears hazy.
Groundbreaking for the project was planned for April, according to the development agreement.
City officials say the project, known as Stadium Point, is not viable in today’s market, while master developer Steinhauer Properties said they stand behind the project they contracted into four years ago, but have been unable to fund due to economic hardships including the pandemic, market volatility, high construction costs and high prime rates.
