Developer and town discuss second amendment to Stoneridge development agreement, lower density and new funding approach

Town staff and Stoneridge owner Tom Lowe presented background and a proposed second amendment June 5 to the long-standing Stoneridge development agreement, covering decades of prior amendments and a plan to reduce density while preserving community amenities.

Town planner/attorney provided historical context: the project began as Links Creek Ranch in 1994 with an original annexation and master plan proposing roughly 5,000 units. Subsequent amendments reduced the anticipated buildout (the transcript references later reductions to about 3,000 units and to 2,832 units under the current zoning). The presenter said the developer's team previously delayed work during the 2008 recession and that a reorganization and bankruptcy process followed; Suncor and Pinnacle West were previous corporate participants,…