Stadium Point close to securing master developer, Peoria narrows field to 1 candidate

Posted 5/25/20

The search for a master developer to lead the multi-million dollar project known as Stadium Point has come to an end.

Almost.

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Stadium Point close to securing master developer, Peoria narrows field to 1 candidate

Posted

The search for a master developer to lead the multi-million dollar project known as Stadium Point has come to an end.

Almost.

The city has chosen a candidate to transform 17 acres of shovel-ready, city-owned land into a unique, multi-use project in the P-83 area. But Peoria officials will not release the name of the developer because they are still in the diligence phase and have not officially awarded the request for proposal, which was closed to submissions Jan. 22.

Materials Manager Christine Finney said proposals are not subject to public disclosure until after the RFP is awarded, per the of city of Peoria procurement code.

Once the RFP is officially awarded and a development agreement is negotiated and finalized, it will be public and scheduled for council approval.

“At that time, a public notice will be issued and requests for public release of documents can then be considered,” Ms. Finney said.

The proposal states that a development agreement was to be completed by May 2020, but Ms. Finney said that date has been pushed back.

“When we put together any RFP, we make a best effort to determine how long it will take to get through each phase of the process but sometimes those timelines do shift,” she said.

The mystery firm is expected to develop 1 million square feet of Class A office space, a full-service hotel, parking, multi-family residential, public space, signature retail, or dining and entertainment.

The proposal states the developer will fund, design, construct and operate the site.

Costs will be determined after a proposal is approved.

For a number of years, the city has been trying to bring a unique development adjacent to the Peoria Sports Complex, where the San Diego Padres and Seattle Mariners play during spring training.

Peoria released a previous RFP in 2011 that did not result in a contract.

The new RFP aims to expand on many efforts over the years by providing additional opportunities for residents through the creation of a carefully planned mixed-use development, officials said.

Philip Haldiman can be reached at 623-876-3697, phaldiman@newszap.com, or on Twitter @philiphaldiman.

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