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PAC Trustees, Developer Continue Talks To Transform Downtown Parking Lot

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Right now the developer's concept for the lot shows high-end apartments, a 35,000-square foot Reasor’s grocery store, parking and civic space specifically for the PAC. Right now the developer's concept for the lot shows high-end apartments, a 35,000-square foot Reasor’s grocery store, parking and civic space specifically for the PAC.
The plan to develop the Tulsa Performing Arts Center parking lot is moving forward. The plan to develop the Tulsa Performing Arts Center parking lot is moving forward.
"The group, the trust decided that, yes, we would proceed forward with negotiations," Jono Helmerich said. "The group, the trust decided that, yes, we would proceed forward with negotiations," Jono Helmerich said.
TULSA, Oklahoma -

The plan to develop the Tulsa Performing Arts Center parking lot is moving forward.

Trustees sat down on Friday to discuss the possibilities with the proposal introduced by Indianapolis-based firm Flaherty and Collins.

"The group, the trust decided that, yes, we would proceed forward with negotiations," Jono Helmerich said.

10/9/2015 Related Story: Developers Eager To Transform Downtown Tulsa Parking Lot

Right now the developer's concept for the lot shows high-end apartments, a 35,000-square foot Reasor’s grocery store, parking and civic space specifically for the PAC.

But the developer says it's just the initial concept, and they want everyone to bring their ideas to the table.

In a statement, they said this:

"We are very excited to take the next step to bring a new one of a kind urban format Reasor's grocery store and apartments that will set a high bar for living in downtown Tulsa. The TPACT's decision today to commence negotiations is fantastic, but we know we have a lot of work to go as we will now need to roll our sleeves up and work with all the parties involved in this development to come to terms of a deal that will meet everyone's goals and objectives."

Ryan Cronk, Vice President of Development, PrincipalThe firm says it is "excited to take the next step to... set a high bar for living in downtown Tulsa."

The decision to start negotiations is fantastic, and the firm is ready "roll up their sleeves and work with all the parties...  that will meet everyone's goals and objectives."

It is something trustees say they will do also.

“We want to make sure whether it's for living, whether it's for retail, whether it's for a grocery store, that it's done in a way that really does kind of try to service the needs, at least what they project to meet the needs, of the people downtown,” Helmerich said.

The group isn't making any hasty decisions. The trust says right now, it is interested, but not necessarily a "motivated seller.”

“This isn't a make-or-break situation,” Helmerich said. “We don't have to do anything. We're in a good situation with a good piece of property that frankly, functions well for us."

Over the next 45 days, trustees and developers will meet to talk about the proposal and negotiate the potential deal.

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