City Approves Contract To Develop Land Near Riverside

Tuesday, August 11th 2015, 11:21 pm
By: News On 6

The City of Tulsa is officially under contract with a Dallas developer regarding 12-acres of land at 71st and Riverside.

The “yes” vote by the Tulsa Public Facilities Authority gives Texas-based UCR Development the chance to now market the area to possible tenants.

The meeting took close to three hours and the TPFA voted in favor of the contract 3-to-2.

The contract shows the property sold for a little more than $1.4 million and it is contingent on getting the signature from the still unnamed anchor store.

After months of negotiations, Tuesday, Dallas-based developer Don Bouvier signed along the line and thanked city leaders for the time, energy and effort he said they've put forth in the lengthy process.

7/29/2015 Related Story: Discussions To Develop Land Near Riverside Continue

"To help us derive what we feel is a very special plan for a very special piece of property in the city of Tulsa," Bouvier said.

They will now reach out to possible tenants - who wouldn't sign a lease, he said, without the contract.

While specific tenants are still unknown, he compared the 27,000 square foot anchor store to the size of a Staples or Old Navy.

Many at the meeting, however, didn't care for the details and just wanted the space to remain parkland.

Bill Leighty with Smart Growth Tulsa said, "The overwhelming majority of citizens who have become aware of this proposal to dispose of property for commercial development are strongly opposed to it. That has also remained clear."

8/3/2015 Related Story: Group Hopes To Slow Riverside Drive Development Process

As the discussion got underway, board members were made aware of an 11th-hour injunction filed that asked for a 90-day extension, claiming the public didn't have enough time to be part of the process.

8/11/2015 Related Story: Opponents Try To Stop REI Site Along Arkansas River

“Plenty of time has passed for these types of complaints and objections, yet nothing occurred until five minutes before this meeting," said Robert Edmiston with the City Attorney’s Office.

The injunction didn't stand, and with a 3-to-2 vote, the development will move forward as long as they stick to what the city agreed on.

Read The Full Contract

The contract states work will not relocate any of the existing river trails along the property and it restricts any night club or funeral home from going there.

But, if the anchor tenant isn’t signed soon, the whole deal could fall through.