PEORIA, AZ — The city of Peoria is pursuing a unique partnership with the Arizona State Land Department to set up 6,700 acres for future development.
Through the agreement, the West Valley municipality will serve as the master planner for the sprawling site and invest an initial $140 million into backbone infrastructure for the area.
At its Dec. 17 meeting, Peoria City Council unanimously approved an intergovernmental agreement with the state land department to establish that partnership and set up a mechanism to be made whole for its infrastructure costs.
Called Peoria Innovation Core, the mega corridor is expected to be developed in phases over 20 years.
