North Peoria Planning

Arizona State Land IGA / Peoria Innovation Core

Recognizing that 75 percent of the city’s remaining vacant land base (future city limits) is owned by the Arizona State Land Department (ASLD), the Peoria City Council in December 2024, approved a partnership with ASLD that allows the city to lead the land planning efforts on 7,000 acres of undeveloped State Trust land in the area referred to as the Peoria Innovation Core (PIC), 10.5 square miles of land that encompasses the Loop 303 corridor, from Lake Pleasant Parkway to State Route 74.

The city of Peoria was the successful bidder for 834.5 acres at the August 27, 2025 State Land Public Auction, with a final bid of $46.7 million.

In December 2024, the city applied to Arizona State Land Department to bring this property to market, which is located within the Peoria Innovation Core (PIC), northwest of the intersection of Loop 303 and Lake Pleasant Parkway.

The first project to move forward on the new site is Amkor Technology’s state-of-the-art advanced semiconductor packaging and test facility, with construction starting in September 2025.

8/28/2025: City Council approves smart growth agreements - Amkor moving to the PIC

8/27/2025: Peoria wins state land auction: Special Council Meeting called for August 28 at 5:30 p.m.

3/25/2026: City to partner with Opus Development Company in Peoria Innovation Core

This intergovernmental agreement aligns with the City Council’s vision for smart growth, and State Land’s mandate to support K-12 education.

• EDUCATION Enhancing the state’s land market value, with an expected $1 billion to $1.5 billion of direct benefit to the state land trust, which by state constitution helps fund Arizona’s K-12 public education.
• EMPLOYMENT Thousands of new local jobs in semiconductor & microelectronics supply chain, aerospace & defense industry, advanced manufacturing, hospitality & commercial/retail centers. Provides residents opportunities to work, shop and dine closer to home.
• SHOVEL-READY By putting the public arterial roadways and utility infrastructure in place, before the land sells, businesses can speed time from groundbreaking to grand opening.
• REVENUE Sustains high-quality city services by increasing sales tax revenues (without raising rates) to support public safety, parks maintenance and other city provided services.
• HOUSING Planners project new single family, medium density and higher density residential developments all finding a proper balance within the project.
• OPEN SPACE Unique topography provides hundreds of acres to be dedicated to Peoria's new Mountains, Open Space & River Ecosystems (MORE) program providing more open space and hiking opportunities
• REIMBURSEMENTS Up to $500 million in reimbursements for infrastructure that would have otherwise been funded through Peoria taxes.

Partnership Plan
This project will span 20+ years based on market demands. This is essentially one of if not the final large master planned area in Peoria.

The city will provide an initial $140 million investment, and receive up to $500 million in reimbursements from subsequent land sales, to build public arterials and utilities infrastructure within the 6,700-acre site. This infrastructure is already identified in Peoria’s existing FY2025-2034 Capital Improvement Program.

The City will be reimbursed for its up-front investment based on this schedule:

• As ASLD auctions off the land, the City will be reimbursed for design, permitting, right-of-way costs and interest;
• Upon Final Patent of Land – City will be reimbursed for up to 50% of construction costs;
• Once a Final Plat or Site Plan is approved – City will be reimbursed for final 50% of construction costs, plus interest.

North Peoria Gateway

On October 15, the Peoria City Council approved the annexation and zoning entitlement for the 1,620-acre North Peoria Gateway. This paves the way for responsible growth and development along the strategic Loop 303 corridor near Happy Valley Parkway.

Arizona State Trust Land comprises effectively 75% of the remaining vacant land within the Peoria Planning Area. To that end, the future growth and development of the City is largely dependent upon joint planning ventures with the Arizona State Land Department (ASLD). The development of parcels within this area is dependent upon market conditions and the pace of public auctions administered by ASLD. With the zoning now in place, a successful bidder can then approach the City with development plans. The Council action was important as it removed the uncertainty of zoning, which in itself brings an area closer to market-ready conditions.

On October 15, 2024, the City Council approved annexing 458 acres of State Land generally centered around the Loop 303/Happy Valley. This annexation became effective on November 15, 2024. This area will continue to be served by EPCOR for water and wastewater treatment.