Recommend Tweet - Flaherty & Collins Properties€¦ · 8/26/2016 Developer, Reasor's unveil more...
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8/26/2016 Developer, Reasor's unveil more details of planned downtown grocery store, mixeduse project Tulsa World: Retail http://www.tulsaworld.com/business/retail/developerreasorsunveilmoredetailsofplanneddowntowngrocery/article_950a9eccfd8b5d25b0d6b6b046070… 1/6 Free Access: Jobs Autos Pets Homes Classifieds Contests Deals Display Ads Special Sections Best In The World Legals Advertise Make us your home page Newsletters My Subscription Eedition Subscribe Welcome! Login Signup Contact Us | Search for stories 85° NEWS SPORTS SCENE WORK & MONEY COMMUNITIES BLOGS OPINION WEEKEND WEATHER PHOTO VIDEO DATABASES OBITS CALENDAR Home Business Retail Story Comments (19) Image (7) Tweet 0 5 Print Font Size: Developer, Reasor's unveil more details of planned downtown grocery store, mixed-use project New apartments, retail and a restaurant are also part of the proposed project Autoplay: On | Off Posted: Friday, August 26, 2016 12:00 am | Updated: 10:11 am, Fri Aug 26, 2016. By Samuel Hardiman Tulsa World | 19 comments VIDEO: Downtown Reasors Proposed to TPAC Commiee A developer and Reasor’s officials gave Tulsa Performing Arts Center Trust board members a preview of what a downtown grocery store could look like and how it could change the fabric of downtown Tulsa during a Thursday meeting. Flaherty & Collins, an Indianapolis‑based developer, wants to build a mixed‑use development called the “Annex” at the Recommend 13 FEATURED JOBS Account Executive KWHB TV47 08.24.16 Tulsa, OK (74145) Safety and Training Professional Accell Construction 08.24.16 Tulsa, OK (74145) Professional Administrative Johnson Claim Service 08.24.16 Tulsa, OK (74145) Career Transition Readiness Specialist Tulsa Job Corps 08.23.16 Tulsa, OK (74145) Previous Next Plans show the proposed Reasor’s for downtown Tulsa. COURTESY Downtown Reasors Proposed to TPAC Committee Tulsa World
Transcript of Recommend Tweet - Flaherty & Collins Properties€¦ · 8/26/2016 Developer, Reasor's unveil more...
8/26/2016 Developer, Reasor's unveil more details of planned downtown grocery store, mixeduse project Tulsa World: Retail
http://www.tulsaworld.com/business/retail/developerreasorsunveilmoredetailsofplanneddowntowngrocery/article_950a9eccfd8b5d25b0d6b6b046070… 1/6
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Developer, Reasor's unveil moredetails of planned downtowngrocery store, mixed-use projectNew apartments, retail and a restaurant are also part of the proposedproject
Autoplay: On | OffPosted: Friday, August 26, 2016 12:00 am | Updated: 10:11 am, Fri Aug 26, 2016.
By Samuel Hardiman Tulsa World | 19 comments
VIDEO: Downtown Reasors Proposed toTPAC Commi樞跀ee
A developer and Reasor’s officials gave TulsaPerforming Arts Center Trust board membersa preview of what a downtown grocery storecould look like and how it could change thefabric of downtown Tulsa during a Thursdaymeeting.
Flaherty & Collins, an Indianapolis‑baseddeveloper, wants to build a mixed‑usedevelopment called the “Annex” at the
Recommend 13
FEATURED JOBSAccount ExecutiveKWHB TV4708.24.16 Tulsa, OK (74145)
Safety and Training ProfessionalAccell Construction08.24.16 Tulsa, OK (74145)
Professional AdministrativeJohnson Claim Service08.24.16 Tulsa, OK (74145)
Career Transition Readiness SpecialistTulsa Job Corps08.23.16 Tulsa, OK (74145)
Previous Next
Plans show the proposed Reasor’s fordowntown Tulsa. COURTESY
Downtown Reasors Proposed to TPAC CommitteeTulsa World
8/26/2016 Developer, Reasor's unveil more details of planned downtown grocery store, mixeduse project Tulsa World: Retail
http://www.tulsaworld.com/business/retail/developerreasorsunveilmoredetailsofplanneddowntowngrocery/article_950a9eccfd8b5d25b0d6b6b046070… 2/6
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performing arts center’s parking lot, an areahemmed by Cincinnati and Detroit avenuesand Second and Third streets.
Renderings show a 12‑story building withground floor retail next to what wouldpotentially be the Reasor’s. The buildingwould have 312 beds and 240 units ofapartments.
The meeting was another step in what hasbeen an almost two‑year process. Ryan Cronkof Flaherty & Collins said his companyspecializes in public‑private partnerships,looking for unique situations where there’s a
need for their type of development.
Cronk, in a presentation to the board and assembled members of the public, explained thatpeople are “moving back into the urban core” and that large corporations are moving backinto downtown to be near their workers.
“A grocery store is what all residents want,” said Cronk.
The project would also feature a multi‑story parking garage with 636 spaces. Shopperswould be able to present a receipt and park for free.
Millennials are renting much longer and want to live an urban area, Cronk said.Corporations are following them, and urban areas are seeing a need for a grocery store.
It would be a Reasor’s store “unlike any other” in the market, he said, noting that urbanformat grocery stores are quite different than a typical suburban store.
A potential move to downtown would be another pivot from Reasor’s, which prides itself onusing its smaller size and local roots to outmaneuver larger competitors such as Wal‑Mart.It’s also another move toward upscale after it unveiled a revamped 50,000‑square‑footReasor’s in Brookside last summer.
Brent Edstrom, COO of Reasor’s, said the store would get a chance to learn from itsBrookside location and its restaurant. The timeline of the project would give them to workout the “kinks” they’re experiencing in Brookside.
Edstrom said in an interview with the World that it’s not definite that Reasor’s is comingdowntown. It depends on the approval of the plan, he said.
It’s a unique project but not unlike developments Flaherty & Collins have done in otherlarger cities. In Indianapolis, they developed a Marsh supermarket on the bo樞跀om ofhundreds of apartments.
According to their website, they’re developing another grocery store‑anchored mixed useproject in Indianapolis that will feature a Whole Foods Market.
There would also be room for a 6,000‑square‑foot restaurant and 8,000 square feet ofadditional retail space.
If the PAC Trust board approves the plan and the developer secures a Tax IncrementFinancing district from the city of Tulsa, downtown Tulsa would gain its sought‑after grocerystore. Interest and demand for such a store has steadily risen as construction of residentialunits downtown has ticked up over the past five years.
According to real estate firm CBRE, there are about 6,000 permanent residents in downtownTulsa with about 1,000 more beds under construction.
Commercial real estate experts say a grocery store is a key step in order for downtown togain a critical mass of retail.
8/26/2016 Developer, Reasor's unveil more details of planned downtown grocery store, mixeduse project Tulsa World: Retail
http://www.tulsaworld.com/business/retail/developerreasorsunveilmoredetailsofplanneddowntowngrocery/article_950a9eccfd8b5d25b0d6b6b046070… 3/6
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The board members could vote on accepting the proposal and then move forward withagreeing to a contract at their next meeting in September.
Samuel Hardiman 918‑581‑8466
Twi樞跀er: @samhardiman
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Bobby Thompson posted at 10:10 am on Fri, Aug 26, 2016.
8/26/2016 Developer, Reasor's unveil more details of planned downtown grocery store, mixeduse project Tulsa World: Retail
http://www.tulsaworld.com/business/retail/developerreasorsunveilmoredetailsofplanneddowntowngrocery/article_950a9eccfd8b5d25b0d6b6b046070… 4/6
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Posts: 10
It is about time. My only question is where is the parking coming from forthe store and the apartments? I have been waiting on one of them AKA (Reasorʹs or Walmart ) to step up. Now people living in downtown andsome close to will have an option. That being said there still needs to havethe issue of parking addressed.
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Posts: 212
Jack Johnson posted at 11:12 am on Fri, Aug 26, 2016.
From the article:
ʺThe project would also feature a multi‑story parking garage with 636spaces.ʺ
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Posts: 3852
Rick Neal posted at 9:12 am on Fri, Aug 26, 2016.
I think its a smart maneuver for Reasorʹs. Having a nice setup for a lunchcrowd would be a plus as well. Build your own salads, order sandwiches,soups, etc.The building is nice looking, architects did a nice job, it sets in very wellvisually.Good move for downtown.
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Posts: 80
Bob Bennett posted at 8:57 am on Fri, Aug 26, 2016.
If developers keep building on parking lots downtown, where are thepeople supposed to park?
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Posts: 212
Jack Johnson posted at 11:12 am on Fri, Aug 26, 2016.
From the article:
ʺThe project would also feature a multi‑story parking garage with 636spaces.ʺ
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Posts: 5321
Peggy Pianalto posted at 7:52 am on Fri, Aug 26, 2016.
A grocery store is a great idea but thatʹs a hideous building. Who comes upwith this cr**?
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Posts: 1035
Peter Henry posted at 7:50 am on Fri, Aug 26, 2016.
Looks promising. A important topic is whether the Tax IncrementFinancing district is for an appropriate 5‑10 years ‑ or, whether like anotherrecent TIF, a full generation (25 years) of foregone ad valorem taxes.
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Carlos Boomkin posted at 7:43 am on Fri, Aug 26, 2016.
8/26/2016 Developer, Reasor's unveil more details of planned downtown grocery store, mixeduse project Tulsa World: Retail
http://www.tulsaworld.com/business/retail/developerreasorsunveilmoredetailsofplanneddowntowngrocery/article_950a9eccfd8b5d25b0d6b6b046070… 5/6
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Posts: 207
312 beds, take a nap then buy a ham sando, sounds good
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Posts: 3
M Warner posted at 7:14 am on Fri, Aug 26, 2016.
Will there be parking? a grocery store without parking will fail.. also, howdo you keep the pac ppl from parking in the parking?
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Posts: 207
Carlos Boomkin posted at 7:43 am on Fri, Aug 26, 2016.
read the article
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Posts: 6
Bob Blah posted at 7:59 am on Fri, Aug 26, 2016.
plus i would imagine their biggest amount of business will beeveryone within walking distance. they are targeting millennials andwhat they want the most is to live and work all with in walkingdistance. Oklahoma is so far behind other places that have simplecorner markets near apartments and employers. we are ge樞跀ing there.If we want downtown to thrive again we have to develop. Tulsashould pay to install fiber optics all through downtown to enticeGoogle Fiber to come in and install before OKC then maybe theycould expand it out of downtown to all the rest of us. I also justwonder what kind of time limit and amount you have to pay for inreasors to get free parking. i mean if im visiting a friend cant findparking can i park there go to my friends and then buy a pack ofgum before i leave?
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Posts: 334
Katherine Carradini posted at 9:03 pm on Thu, Aug 25, 2016.
What kind of security measures will Reasorʹs install to cut down therampant shoplifting that has been the death of other grocery storesa樞跀empted in the area? The last thing we need is another hulking shell of abuilding downtown.
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Posts: 207
Carlos Boomkin posted at 7:42 am on Fri, Aug 26, 2016.
why donʹt you try and visit downtown every once in a while? youʹre abit confused
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Peggy Pianalto posted at 7:52 am on Fri, Aug 26, 2016.
Please cite all the examples of downtown grocery stores that have closeddue to rampant theft.
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Jack Johnson posted at 11:14 am on Fri, Aug 26, 2016.
8/26/2016 Developer, Reasor's unveil more details of planned downtown grocery store, mixeduse project Tulsa World: Retail
http://www.tulsaworld.com/business/retail/developerreasorsunveilmoredetailsofplanneddowntowngrocery/article_950a9eccfd8b5d25b0d6b6b046070… 6/6
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Posts: 212
Is ʺrampant theftʺ the reason that the former Albertsonʹs store at 51stand Memorial never re‑opened?
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Posts: 68
Michael Smith posted at 6:45 pm on Thu, Aug 25, 2016.
This is what Vision 2025 accomplished all you naysayers.
Itʹs too bad 10‑15 years from now the opponents of river development willmysteriously go silent too!
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Posts: 3852
Rick Neal posted at 9:14 am on Fri, Aug 26, 2016.
ʺnaysayersʺ... Get over the word will you, its lame.
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Chad Smith posted at 4:31 pm on Thu, Aug 25, 2016.
Game Changer! So glad to see it is a local company that is finally ge樞跀ingdowntown what it has wanted for so long. Reasorʹs is a great corporatecitizen.
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Gordon Mills posted at 11:25 am on Thu, Aug 25, 2016.
Iʹm surprised Walmart wasnʹt on this.
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