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Developer and city reiterate vision for long-planned Stadium Point project; timeline tied to financing
Summary
Steinhauer Properties and Peoria staff updated the council on the Stadium Point (P83) mixed-use development, saying schematic designs and some off-site work are advanced but vertical construction awaits equity commitments; timeline remains flexible under the development and implementation agreements.
Peoria city staff and representatives of Steinhauer Properties updated the city council on April 22 on the long-running Stadium Point development (P83), describing progress on design and public improvements while cautioning that vertical construction remains contingent on securing equity financing.
Deputy City Manager Mike Faust and Rory Sandstrom, Steinhauer’s representative, presented background and current status of the multi-phased, mixed-use project that envisions Class A office towers, a full-service hotel and roughly 350 Class A multifamily units alongside public amenities. “We have full confidence in this project,” Sandstrom said, summarizing the developer’s view that the site is uniquely positioned for long-term demand in the North Phoenix technology corridor.
Faust reminded the…
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