FIVE NORTH at VISTANCIA, New Dynamic West Valley 320-Acre Commercial and Retail Destination, Takes Shape

Peoria (April 27, 2023) – 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.

“Over the past 20 years, the community of Vistancia has been thoughtfully developed to bring the highest quality to all our residents. FIVE NORTH at VISTANCIA represents the final crown jewel of the community and will be developed with the same precision and attention to detail offered over that past two decades. We believe FIVE NORTH at VISTANCIA will become a true destination while offering our residents unparalleled retail, dining, employment and recreation opportunities,” said Mark Hammons, general manager of Vistancia.

FIVE NORTH at VISTANCIA is the fifth and final lifestyle community in the 7,100-acre master-planned community, which opened in 2004 and now has four communities – The Village at Vistancia, Blackstone at Vistancia, Trilogy at Vistancia and Northpointe at Vistancia. Vistancia offers its approximately 18,000 residents a healthy lifestyle with the 3.5 mile-Discovery Trail, two high-performing K-8 schools in the Peoria Unified School District, two golf courses including the daily fee Trilogy Golf Club and award-winning private Blackstone Country Club, and easy access to recreational destinations including the City of Peoria’s Paloma Community Park (10 minutes), Lake Pleasant Regional Park (15 minutes) and Peoria Sports Complex (20 minutes).

FIVE NORTH at VISTANCIA is located at Loop 303/Bob Stump Memorial Parkway at Lone Mountain Parkway (exit 127). The site is approximately 10 minutes from the Taiwan Semiconductor Manufacturing Co. (TSMC) 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 5-10 years.

“The City of Peoria has had a long-term partnership with Vistancia and have been working together since its inception to position the commercial core for success. The high-quality tenants and jobs that will be launched at FIVE NORTH at VISTANCIA will make our community an even more desirable place to live,” said Peoria Mayor Jason Beck. “We envision the development attracting other businesses and helping meet the needs of the expected residential growth in the northern part of the city. Further, FIVE NORTH at VISTANCIA’s commercial core will contribute to an increase in local tax dollars, which will enable the city to expand fire and police services in North Peoria.”

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 has continued to increase, according to WESTMARC (the Western Maricopa Coalition).

“FIVE NORTH at VISTANCIA will continue to enhance the local flavors of community life available in the West Valley and draw more people here to spend money and call this vibrant and diverse area their home. West Valley residents are used to driving 30 minutes or more for great experiences and restaurants. FIVE NORTH at VISTANCIA will greatly shorten the drive to ‘cool,’” said Sintra Hoffman, president and CEO of WESTMARC. “We expect FIVE NORTH at VISTANCIA to be a regional economic and lifestyle hub that adds to the incredible quality of life the West Valley offers.”

Vistancia also will be receiving additional community services at Vistancia Point. Barclay Group recently announced plans to develop a Fry’s Marketplace and a gas station on approximately 19 acres at the corner of El Mirage Road and Lone Mountain Parkway.

“FIVE NORTH at VISTANCIA completes the vision for the meticulously planned Vistancia community, which offers a lifestyle like no other in the West Valley,” said Richard Whitely, co-president and chief operating officer at IHP Capital Partners. “FIVE NORTH at VISTANCIA brings a wealth of beautiful and thoughtful amenities designed to serve and connect the community’s residents with a variety of services and entertainment options that will enhance their living experience. With this vibrant commercial core underway, Vistancia is drawing more interest from our homebuilder partners who are eager to be a part of Vistancia.”

California-based IHP Capital Partners and Minneapolis-based Värde Partners own Vistancia in a joint venture.

About Vistancia

The award-winning Vistancia community is located in Peoria and set amongst a stunning backdrop of Sonoran Desert mountain ranges featuring dramatic views of White Peak and Twin Buttes mountains, four lifestyle residential communities, a 3.5 mile Discovery Trail, private community recreation centers with resort-style pools, two K-8 schools, parks, and two golf courses including the private Blackstone Country Club and daily fee Trilogy Golf Club. There are now three entrances into the Vistancia community. Take Loop 303 to Lone Mountain Parkway (exit 127), Jomax Road (exit 126) or Vistancia Boulevard (exit 125) . For more information about Vistancia visit www.vistancia.com.

About IHP Capital Partners
IHP Capital Partners was founded in 1992 and celebrates three decades of industry leadership as one of the nation’s leading real estate investment firms. The company facilitates a path to success for its investor and development partners by providing equity for residential projects throughout the country, with a focus on the western U.S. A tactical partner and trusted fiduciary, IHP’s track record is built on experience, expertise and long-term sustained partnerships with well-known institutional investors and a wide range of the industry’s most notable builders and developers. For more information, visit www.IHPInc.com. Follow the company on LinkedIn.

About Värde Partners
Värde Partners is a leading global alternative investment firm with roots in credit and distressed. Founded in 1993, the firm has invested $80 billion since inception and manages $15 billion on behalf of a global investor base. The firm’s investments span corporate and traded credit, real estate and mortgages, private equity and direct lending. Värde employs more than 300 professionals worldwide with offices in Minneapolis, New York, London, Singapore and other cities in Asia and Europe. For more information, please visit www.varde.com.

About Land Resources
Established in 2014, Land Resources is a full-service real estate development and management firm, specializing in creating strategic vision and maximizing value for real estate assets. The firm is comprised of a tenured team of real estate experts who have successfully developed and managed over 30,000-acres of land throughout the southwestern U.S. Land Resources provides expertise at all stages of land acquisition, development and sales for master planned residential, retail, mixed use commercial and light industrial properties. The Land Resources team is best known for their deep industry relationships, creativity and collaborative approach to partnerships, and has been instrumental in the vision, development and management of the award-winning master planned community of Vistancia in Arizona since 2004. For more information, visit landresourcesinc.com.