By Audrey Jensen | Phoenix Business Journal
The city of Peoria has approved a new development agreement and is committed to spending up to $1.5 million for public infrastructure improvements for its historic Old Town area in the southern part of the city.
Last year, Peoria posted a request for proposals for redevelopment of several parcels for potential high-quality dining and entertainment options in a pedestrian-friendly environment. The city’s request called for proposals that prioritize top-tier or specialty restaurants, while the secondary use accepted would be specialty retail or multifamily.
Peoria Issues Request for Proposals for Old Town Redevelopment
Primary objectives for submitted projects include creating a high quality dining and entertainment environment that promotes walkability and a pedestrian experience, preserves and enhances the historic character of the Old Town Area and engages the already existing public spaces, historical landmarks, arts and special events. Key emphasis would be for top tier or specialty restaurants. Secondary use would be specialty retail and multifamily.
On (Oct. 25), Peoria’s City Council approved the new development agreement with Zonapart LLC, an entity connected to Phoenix-based Arizona Partners in Real Estate, to create a plan for a proposed retail and dining district with new restaurants, shopping and entertainment options.
Read More (subscriber content)
Some stories may only appear as partial reprints because of publisher restrictions.