A highly anticipated mixed-use development in Peoria, Arizona is set to break ground this summer. The project, known as Stadium Point and led by Steinhauer Properties, will span one million square feet and include apartments, hospitality options, retail stores, restaurants,and class-A office buildings.
According to the Phoenix Business Journal,the project has been in the planning stages since 2019 and will be constructed on a 17-acre site at the Peoria Sports Complex. This complex serves as the Spring Training facility for both the Seattle Mariners and San Diego Padres,and is located along 83rd Avenue just south of Bell Road.
The estimated cost of construction for Stadium Point is over $510 million. The first phase of development will focus on site preparationand building 357 multifamily units.Additionally,a full-service hotel with220 roomswill be built duringthe second phase.
Future phasesofthe projectwill include two office buildings totaling645 ,000 square feetwith spacious30 ,000-square-foot floor plates.There are also plansfor65 ,000squarefeetofretail spaceand a28 ,000-square-foot food hallto complete this ambitious venture.
This exciting $500 million developmentinPeoriawill begin constructionthissummeras it aims to transformthe area intoa vibrant hubforresidential living,hospitality,businesses,and entertainment.The potential impactonthecommunityis immense,makingitoneofthemostanticipatedprojects in theregion.
