|Updated: 11/06/2013 4:41 pm
||Published: 11/06/2013 4:39 pm
Mayor Dewey Bartlett announced The Walk at Tulsa Hills, a new $32.5 million retail development planned for the South 81st Street/Highway 75 corridor.
Bartlett said the development would provide new retail and restaurants for Tulsa and will add more than 1,000 jobs from temporary construction work and the new establishments, Parkes Development Group LLC of Nashville, TN said.
The Walk at Tulsa Hills will be located to the south of Tulsa Hills on the east side of HWY75. The developer has indicated it is already working to include a movie theater, grocery store, restaurants, retail shops and an outdoor living store.
“The Walk at Tulsa Hills development is expected to generate a payroll of $18 million between construction and permanent jobs,” said Mayor Dewey Bartlett. “This is exactly the type of development we are working daily to attract to Tulsa, and I am very pleased we have reached the point in the timetable that we can discuss this accomplishment publicly. I want to recognize our economic development team, led by Clay Bird, as well as our retail specialist Tammy Fate, who is continuously in contact with potential retail prospects and working closely to celebrate successes with existing establishments.”
The developer estimates that once the improvements are constructed and in service, gross sales will be close to $50 million, which would contribute close to $1.2 million in sales tax revenue to the city annually. Ad valorem tax is expected to generate $387,670, which is a significant increase and expansion of the area’s ad valorem tax base.
“We appreciate Mayor Bartlett’s willingness and advocacy in moving this project through the approval process in the spirit of fostering an environment for economic growth and development,” Bob Martin, developer of Parkes Development Group LLC said. “The success of Tulsa Hills attracted us to bring in new tenants to Tulsa, and create a walkable space around several retail establishments, as well placing restaurants and a movie theater in the heart of the complex to complete the customer experience.”
The concept for the development and plat was proposed to the Tulsa Metropolitan Area Planning Commission (TMAPC) today and was approved.
Martin added, “The Walk at Tulsa Hills will be a place for families to gather for food and entertainment, and try out stores that are brand new to this market. We are encouraged by the TMAPC’s approval and will work with the City to complete the plans, while engaging the surrounding community in the process.”