BROKEN ARROW — Expectations for one of the city’s newest developments is as lofty as the ridge on which it sits.
The roughly $11 million Tiger Hill Plaza is expected to open in the first quarter of 2021 at about 80% capacity, an early sign of its retail health, one of its developers said Friday.
“It’s a great location,” said Walman Commercial Real Estate’s Steve Walman, who is partnering with developer Neal Bhow in the 30,000-square-foot project. “I’ve been working it for quite a while. When you’re looking at a corner like this in a market like this and you’re at a high-visibility, easy-access retail location, usually you get a good level of interest from tenants.”
A ceremonial groundbreaking for the plaza, located at the southwest corner of Kenosha Street (East 71st Street South) and Lynn Lane (177th East Avenue), was held Friday. The development’s 5½ acres were purchased last year from the City of Broken Arrow.
“When you own property, it creates opportunities,” Broken Arrow City Manager Michael Spurgeon said. “And how you utilize your property to try to entice investment is something that requires a certain amount of risk.
“What I’ve found in the Broken Arrow City Council in my five years, as well as previously, is that the council’s always been willing to take a little bit of a risk in order to try to partner with the private sector in order to create opportunities for the community. This is another example of this.”
Jennifer Conway is president and CEO of the Broken Arrow Chamber of Commerce and Broken Arrow Economic Development Corporation.
“I’m so thankful that we can be in the midst of all we are knowing that Broken Arrow has partners like they do …” she said.
Among the confirmed tenants are Tacos for Life; Keo, an Asian fusion restaurant; Capriotti’s, a national sandwich chain, and a salon. The developers are in lease negotiations with four other tenants, Walman said.
The L-shaped development has patios and other open spaces, high-end finishes and a variety of textures and signage, he said.
“We wanted to build something that was more interesting, more aesthetically pleasing,” Walman said. “… It’s a lot more embellished building that you see around here.”
Some metal framing already has been erected at the site. Tiger Hill is named for the school’s mascot. A retaining wall there partially gave way in 2015, forcing the city to restabilize the area.
“The bottom line is, the growth of a city doesn’t happen by itself,” Spurgeon said. “The city can’t grow jobs beyond the municipal workforce, the utility workforce.
“It takes a partnership. It takes those people that believe in a vision that they can basically bring something out of the ground that is going to return a profit on their investment, which is a great thing for all of us.”
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