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Peoria doubles down on strategic parcels, creates new office

Posted 3/5/18

By Philip Haldiman, Independent Newsmedia

Peoria announced the creation of the Office of Real Estate Development, which will focus entirely on assisting new commercial and industrial development …

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Peoria doubles down on strategic parcels, creates new office

Posted

By Philip Haldiman, Independent Newsmedia

Peoria announced the creation of the Office of Real Estate Development, which will focus entirely on assisting new commercial and industrial development within the city.

Scott Whyte, Peoria’s current economic development services director, will head the new office as real estate development officer, and Dina Green will serve as real estate development project manager.

David Valenzuela, currently chief business attraction officer, will serve as acting economic development director through the transition period.

City Manager Jeff Tyne said this new office will work with the development community to bring transformative new opportunities to the city and work closely with the economic development services department and other key city departments, most specifically the planning and engineering departments.

The position is a lateral move for Mr. Whyte, who will report directly to the city manager.

Peoria is a finalist in a site selection process for two sizable companies — one in the Vistancia commercial core and the other in the  P83 area — that could bring as many as 10,000 new jobs to the city.

Mr. Tyne said Peoria has a specific need to position and market its strategic parcels, and Mr. Whyte is the person to do it.

“Key sites like the P83 area, the Vistancia commercial core and Peoria Place are starting to generate commercial interest,” Mr. Whyte said. “However, each of these sites has unique characteristics that requires quite a bit of attention and oversight. Scott’s strong real estate background, thorough understanding of key Peoria sites, and knowledge of city interests make him an ideal high-level person to make sure we get these developments right ... When a business prospect is established we intend for Scott to help negotiate key land development issues, assist the prospects with design, and coordinate complex implementation efforts. ”

Other cities use executive or high level department staff to position and develop strategic land parcels, duties that will now be overseen by the new Office of Real Estate Development.

Economist Elliott Pollock said it appears Peoria is taking a different path than other cities to market strategic parcels.

“Most communities handle such things through their economic development office as a matter of course and don’t set up a special unit to do so,” he said.

As part of implementing the city’s Economic Development Implementation Strategy — a council-approved document that guides future development — new modern office, industrial, retail, entertainment and restaurant spaces are needed to meet the business attraction goals of the city. Mr. Tyne said incorporating pedestrian connectivity, place making and public gathering areas into new development opportunities, as well as undertaking extensive pre-development work on key strategic parcels, will also be a focus.