As construction gets underway on the models at The Meadows in Peoria this month, we have another exciting announcement: we have closed on two more land parcels at Deer Valley Road and 91st Avenue, bringing our total number of homesites at The Meadows to 472.
This $31 million acquisition, combined with a separate $17 million land purchase 15 months earlier at the same location, represents a $48 million investment in The Meadows (and the largest homebuilder land transaction in Peoria since before the Great Recession). It also underscores our enthusiasm for the fast-growing North Peoria region (an area of town we like to call NoPo).
NoPo is becoming one of the metro area’s most sought-after destinations for its blend of year-round recreation and entertainment opportunities. Active families and weekend warriors alike flock to the area where Lake Pleasant stretches across 10,000 acres, offering an oasis of recreation activities, from wake boarding, water skiing and kayaking, to fishing, sailing and paddle boarding.
Beyond the waterfront, this part of the city boasts multiple desert parks that provide easy access to hiking trails and horseback facilities via multiuse paths that skirt the area’s regional and municipal parks. Peoria’s park system is praised for seamlessly blending the surrounding natural beauty with the city’s burgeoning urban lifestyle – which is fast-becoming a national destination for its mix of urban amenities and resort-like lifestyle. Peoria also lays claim to the Challenger Space Center, a rich cultural scene, top-rated golf courses and sports centers, attractive dining and retail hubs, and an emerging market of high-wage companies and major employment corridors.
The Phoenix Business Journal recently reported that the City of Peoria is in discussion with a private company to develop a lure for innovation, medical technology and growing businesses in the heart of the P83 district near Bell Road and 83rd Avenue, which serves as a gateway to NoPo and many of the city’s entertainment options.
“P83 is going to be a magnet for us,” Peoria Mayor Cathy Carlat told the Business Journal. “It’s in the middle of a well-developed area with shopping, dining and close to a wide variety of housing types and price ranges.” She went on to say that if Peoria gets the right types of jobs, millennials will stay in the area to live and work.
We couldn't agree more, Mayor, and look forward to supporting your vision for Peoria’s future.