Tulsa's Pearl District Seeing Growth From Downtown Boom

Monday, October 9th 2017, 7:16 pm
By: News On 6

With Downtown Tulsa developing so quickly, the Pearl District, which is located just east of Downtown, is feeling the positive effects.

News On 6 has the latest concept that we could start seeing a lot more of.

The less than half acre lot at East 5th Court and South Quincy doesn't have much around it right now - but that is how developers plan to do things out at the Pearl District, piece by piece, and as the smaller lots get developed they will bring together the overall neighborhood.

There isn't much of a neighborhood feel to it now, but there will be soon.

Developer Chad Potter plans to build near 6th and Peoria, six apartments and retail space on the bottom.

Real Estate Broker Patrick Fox is working with Potter on a similar concept along 3rd Street.

"Sort of flex spaces. Smaller retail, shop spaces, studio spaces," Fox said. 

Both developments are on the smaller side of many we're seeing downtown, but that is the goal.

"This is a real true live work situation.  It creates this sort of bohemian funky vibe and I think once it comes out of the ground it is going to be a hit," Fox said. 

He says these spaces give local, smaller investors a chance to open businesses. 

And once the lot is built up, the added apartment space will be invaluable. 

"What you're seeing is the first sort of development like this off of 6th Street. 6th street is your commercial corridor and you've got a lot of activity and what this does is support that," he said. 

After all, the proposals to develop the former Laura Dester site are due on Friday.

The expectation is that whoever builds here will most likely put in one hundred or more apartments.

"You add residents like that in a desirable location with a quality project and it is just part of the whole puzzle," he said.

Potter said he wants to first wrap up on the retail space along 3rd and then they will get started on the next site.