Scottsdale-based real estate development firm Lyfe Companies has been selected to develop the first phase of Five North at Vistancia’s main street district in Peoria.
The Phoenix Business Journal reported that Lyfe is currently in escrow with Vistancia Development LLC for the 9.65-acre project site that the main street retail and restaurant corridor will be located on.
The firm is behind the development of other notable mixed-use projects around the Valley, such as Epicenter in Gilbert and Uptown Plaza in Phoenix.
It will focus on finding local and regional restaurants to anchor the development, which is planned to be a lifestyle hub.
Lyfe Companies’ Chief Development Office Casey Treadwell will head up the development. Meanwhile, Amy Malloy — a managing principal of Evolve Ventures — will act as the project manager, working with Lyfe to draw in Five North’s desired restaurants and retailers.
“We have thoughtfully assembled a distinctive team of local experts and trusted partners to assist us with creating a vibrant lifestyle destination offering unique places to eat, enjoy and connect,” Mark Hammons, general manager of Vistancia, said in a news release. “Casey Treadwell and his team have played an integral part in Five North’s planning since 2020, and have the familiarity and connections we were looking for to officially ignite the development.”
Treadwell brings more than 20 years of experience working on dynamic developments, while Malloy, who has also been part of planning process for five years, has managed retail development projects like Scottsdale Fashion Square, Kierland Commons, Biltmore Fashion Park and Arrowhead Towne Center.
“We are excited to move forward with Phase I of the main street area in Five North after working with the Vistancia team to fully understand the vision,” Treadwell said. “The recent success of Peoria-area restaurants including Bourbon & Bones and high-quality retail projects such as The Trailhead tells us the Northwest Valley is more than ready to support the local and regional businesses we are targeting.”
Western Retail Advisors will handle the leasing for the development.
More details on what Five North at Vistancia will include
The 320-acre mixed-use commercial lifestyle destination is also planned to include office, healthcare, hospitality, education, an employment core and mid- to high-density residential options, which will be a walkable distance from the main street district.
Additionally, a 14-acre city community park is under constriction and will offer multi-purpose fields, baseball and softball fields, basketball courts, ramadas, a play system and restrooms. There is another open linear park planned within Five North that is meant to further connect with the main street area.
Mountainside Fitness is also currently under construction and expected to open in 2027.
Meanwhile, American Leadership Academic, a pre-K through 12 charter school, is already located within Five North.
