TULSA - The Tulsa Performing Arts Center Trust voted Monday night to approve a sale of land to developers that would bring apartments, retail shops and a grocery store to downtown Tulsa.
The PAC trustees approved the sale and development contract of the PAC surface parking lot located directly east of the PAC at 2nd and Cincinnati, paving the way for mix used development.
Flaherty & Collins, an experienced developer from Indianapolis was awarded the development contract from the PAC Trust for $5.5 million. Construction is scheduled to start in summer 2018 and the project is expected to be complete by the first quarter of 2020.
“This project is a big win for our city,” Mayor G.T. Bynum said. “The sale proceeds will be used for the long-term benefit of the Tulsa Performing Arts Center, while we are also bringing a proven developer of quality projects to further enhance the vibrant experience that downtown Tulsa has become.”
Along with retail shops and a proposed market, the 12-story structure will feature 240 apartment units, and a multi-story parking garage.
“The Tulsa Performing Arts Center Trust gave lengthy, careful deliberation in its decision to sell this significant property downtown,” said former Tulsa Mayor Robert J. LaFortune, who co-founded the Trust with the late John H. Williams, and continues to serve as a Trustee. “Our primary concern was its potential to provide funding for expanded, exciting programming at the PAC by local performing arts groups as well as touring productions. The Trust has long emphasized that the PAC is ‘everyone's place.’ In speaking for the majority of Trustees who approved the sale, it’s our hope that this project will create even more awareness, participation, and support of events at the PAC.”
“This new development will bring energy and vitality to the corner, which will help the Tulsa PAC in so many ways,” Mark Frie, Tulsa PAC Director said. “I believe this development positions the PAC Trust to have an even stronger presence in the Tulsa arts community while inspiring the next generation of artists and patrons of the arts.”
Flaherty & Collins is actively working with a grocery operator in the design of a unique urban format and fresh themed market specializing in top notch meats, produce and prepared foods. The market will have a limited assortment of grocery items with ample specialty and healthy lifestyle departments. The market will also have craft beers, specialty spirits and wines.
“We are so excited to take the next step in delivering a great project in downtown Tulsa, Ryan Cronk with Flaherty & Collins said. “The completion of this contract is the result of months of hard work by the Tulsa Performing Arts Center Trust and the City of Tulsa to ensure that both the project is developed in a first-class manner, but also the ongoing needs of the theatre and public parking in downtown Tulsa are preserved and enhanced.”
Before construction begins next year, the City of Tulsa will be working with the Tulsa Public Facilities Authority to explore visitor parking options and the Tulsa PAC staff will clearly communicate those options to all community partners and patrons prior to events.
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