Downtown Tulsa Development Project Approved

Wednesday, September 6th 2017, 5:54 pm
By: News On 6

The Tulsa Development Authority approved a development project for downtown Tulsa.

After months of conversation, Tulsans can finally see the first renderings.

The project would be built in Tulsa’s Deco District near 4th and Main.

7/20/2017 Related Story: Debate Resumes On Proposed Downtown Tulsa Parking Garage

It has been in the planning stages for months, but new renderings show the parking garage would have a minimum of 500 spots as well as 3,000 feet of retail space.

According to the review, the project has to have at least 40 percent of transparent glass retail storefront.

The redevelopment agreement was released Wednesday with an approval stamp from Mayor G.T. Bynum.

The mayor's office is requesting the Tulsa Development Authority's stamp of approval on the project by awarding First Place LLC more than $1.6 million.

The agreement gives the developer a six-year exemption on local property taxes and gives First Place LLC a 12-year span to pay that back.

The TDA will vote on the agreement Thursday night.