2012 peoria investment conference


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The Economic Development Services Department has assembled a forum of the leading thinkers and strategists to engage in an economic development strategy session. The goal is to promote partnerships and solutions to strengthen the economic competitiveness of the Valley as well as discuss investment opportunities in Peoria.

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2012 peoria investment conference

  1. 1. Connecting Locally to Expand GloballyPEORIA CASE STUDYJanuary 19, 2012
  2. 2. Today’s Presentation The Peoria Opportunity Quick Facts on Peoria Moving ED Forward in Peoria Investment Zones  Vistancia Mega Site  P83 Entertainment District  Plaza del Rio  Old Town Redevelopment  Rovey Industrial Park Mega Site Conclusion
  3. 3. The Peoria Opportunity Peoria is focused on Development  Economic Development is the City’s priority  We have a game plan  We are willing to invest and have created framework to legally do so (City North compliant)  We have a track record with strategic partners  We have premiere locations ready for development  We are able to help you get your project done  We are looking for strategic partners to help us take advantage of key development opportunities
  4. 4. Quick Facts on Peoria1. Available land and buildings  2 mega sites and prime commercial space2. Top schools  PUSD in top 17%;  BASIS charter school3. Technically-skilled workforce  20% of employment base in health care4. Great quality of life  Ranked Top 100 place to live in Money magazine5. Affluent community  Median 2010 HH income $68,518
  5. 5. Moving ED Forward Maxwell Technologies Peoria Incucelerator Vistancia Mega Site Osage West ENA (P83 mixed-use development) Vanguard Health Systems ENA IGA with Maricopa County for ED at Lake Pleasant Old Town Commercial Rehab Program Underway
  6. 6. Investment Zones
  7. 7. P83 Entertainment District Bell Road 2 3 1 75th Ave. Loop 101 Peoria Sports1 Complex2 It’s All In The Game Arizona Broadway3 Theatre
  8. 8. P83 Entertainment District1. 2010 – Adopted Urban Design Master Plan targeting infill development2. Osage West, LLC is current partner for mixed-use redevelopment project at Sports Complex  Destination development  400,000 SF mixed-use development  Parking garages
  9. 9. P83 Entertainment District3. New identity – Peoria Eighty Three (P83)  District improvements (pedestrian connectivity, wayfinding, placemaking) to begin later in 20124. It’s All in the Game player development facility 2009 Avg. HH Income $81,455 2009 HH Incomes > $100k 29% Population in 10-minute radius 260,000 Avg. Daily Traffic Loop 101 127,000 Avg. Daily Traffic Bell Rd. 69,000
  10. 10. Redevelopment Project Concept
  11. 11. Old Town Peoria 1 31 Goodwill 2 4 7 5 Peoria Ave.2 Former Smitty’s 63 Peoria Town Center4 Performing Arts Center 85 Osuna Park 10 96 Washington Street Properties 83rd Ave. Commercial Rehab Phase I7 (Wagoner)8 Municipal Complex9 Centennial Plaza City Investment10 Peoria Place Available Development Opportunities
  12. 12. Old Town1. University Recruitment at Peoria Place single most important economic catalyst in Old Town2. SOQs for development opportunities for two Old Town areas  Peoria Town Center (25.6 acres)  Washington Street Properties (includes City-owned buildings)3. Grand Avenue redevelopment opportunities
  13. 13. Old Town4. City investing $80 Million in physical improvements5. Commercial Rehabilitation Program committed to pay 100% of improvements to Old Town Commercial Properties 2009 Avg. HH Income $69,009 Population in 10-minute radius 300,000 Avg. Daily Traffic Hwy 60/Grand Ave. 30,000 Avg. Daily Traffic Peoria Ave. 19,000
  14. 14. Vistancia Mega SiteFreeway access fromLone Mountain Rd.to Loop 303 (openingSpring 2012)½ street improvementsfrom Vistancia Blvd. to 500 acresLone Mountain Rd.(completion est. 9 monthsfrom design start)
  15. 15. Vistancia Mega Site1. 500 acres of commercially zoned private land along Loop 303 (shovel ready program in place)2. Loop 303 connects I-10 to I-173. Lone Mountain build out complete March 2012 2009 Avg. HH Income $87,897 Population in 10-minute radius 33,452 2009 HH Incomes > $100k 39%
  16. 16. Plaza del Rio 4 Thunderbird Rd. 1 2 31 Banner Medical Group2 Freedom Plaza3 Peoria Incucelerator4 Rio Vista Park
  17. 17. Plaza del Rio1. 55 acres on Arizona’s largest health care campus2. Campus home to Banner Medical Clinic, Pivotal Research Center, Freedom Plaza, Peoria Incucelerator3. Proximity to 4 hospitals: Banner Boswell, Del Webb, Arrowhead and Banner Thunderbird4. Thunderbird location along the Loop 101
  18. 18. Rovey Industrial Park 83rd Ave. Olive Ave. 75th Ave. Northern Ave.
  19. 19. Rovey Industrial Park1. Planned Industrial Park; Phase 1 – 128 acres2. Zoned light industrial3. Proposed rail spur on BNSF line4. Grand Ave/Hwy 60 adjacent; Loop 101 1.5 miles west5. Abundant water and electricity  Site adjacent to generating station and water facility
  20. 20. Lake Pleasant Opportunity IGA with Maricopa County for economic development at the lake  Master ground lease holder Pristine area with lake amenity offers year- round opportunity  2 full-service marinas; 10,000 acres of water Hwy 74 location provides access from I-17 and Lake Pleasant Parkway
  21. 21. Conclusion Economic Development Strategy in place Strong workforce Initial success in renewable energy company location, higher education and health care Many development opportunities Priority redevelopment projects Aggressive and focused City Council Established Incentive Policy
  22. 22. We invite YOU to buildsomething with us. Scott Whyte Director, Economic Development Services 623-773-7738 scott.whyte@peoriaaz.gov www.peoriaed.com