The Vistancia master-planned community’s 320-acre commercial and retail destination FIVE NORTH at VISTANCIA is taking shape as the first hot spot in the far North Peoria/West Valley area.
Envisioned as the energetic heartbeat and high-quality lifestyle hub of the award-winning Vistancia community, FIVE NORTH at VISTANCIA’s plan includes a mix of unique, eclectic and creatively infused experiences to eat, work, live and connect. The name FIVE NORTH at VISTANCIA was chosen to reflect its position as the fifth lifestyle community within Vistancia and its strategic vision to be a dynamic and vibrant destination that offers a walkable and open connection to cool experiences, including “best in class” and “first to market” lifestyle and living options in North Peoria.
Construction of the initial phases is anticipated to begin in early 2024. The initial phases are planned to include a main street restaurant/retail corridor, hospitality, office, healthcare, education, an employment core and an additional 1,500 luxury mid- to high-density residential units that will reflect the same high-quality and desert-inspired design elements recognized in Vistancia. In addition, an extension of Vistancia’s signature Discovery Trail is planned, offering a linear park connection through the entire property.
The final lifestyle community in Vistancia’s 7,100-acre master-planned community, which opened in 2004, FIVE NORTH at VISTANCIA is located at Loop 303/Bob Stump Memorial Parkway at Lone Mountain Parkway. The site is approximately 10 minutes from the Taiwan Semiconductor Manufacturing Co. in North Phoenix.
The area is prime for workforce development, with 462,500 workers within a 30-minute drive time, according to the City of Peoria Economic Development’s office. Peoria has received significant interest in employment opportunities in FIVE NORTH at VISTANCIA’s commercial core and the region is expected to experience major employment growth within five to ten years.
California-based IHP Capital Partners and Minneapolis-based Värde Partners own Vistancia in a joint venture.
Did You Know: The West Valley is home to 1.7 million residents, and in the last 10–12 years its buying power, education levels, workforce availability and jobs have continued to increase, according to WESTMARC (the Western Maricopa Coalition).
Photo courtesy of Nelsen Partners
