Agreement approved for $500M Stadium Point project in Peoria

The Peoria City Council unanimously approved a development agreement for the ambitious project known as Stadium Point with master developer Steinhauer Properties, April 20. (Submitted Photo)

By Philip Haldiman | Your Valley

Peoria has taken a big step in creating its first live, work, play experience in the city.

The Council unanimously approved a development agreement on the ambitious project known as Stadium Point at P83, with master developer Steinhauer Properties, April 20.

The development agreement details the standards and conditions that will govern development of this project, which is expected to cost about $500 million once built out.

Developer Greg Steinhaur said this has been the most complicated agreement he has ever negotiated, with a lot of moving parts.

“Our goal is not to make this a great project but it is going to be the best project in the Valley when it is built out,” he said. “We have built our reputation on creating a lot of value where people didn’t see it before. Mark my words, it’s not obvious today but when this project is fully built-out people will say it is so obvious.”

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