Westridge Plaza

[sgrizzle]

http://www.journalrecord.com/article.cfm?recid=82794

quote:
$25M project follows lead of Tulsa Hills
October 18, 2007
TULSA – Westridge Plaza LLC intends to build a $25 million retail center diagonally across from the Tulsa Hills shopping complex.
This should mark the first commercial construction to follow that projected $150 million development, which some analysts predicted would spur an economic resurgence in long-neglected west Tulsa.
John A. Rupe Jr., who leads Westridge Plaza LLC with Cliff Nutt and Dave Yonce, said the concept was inspired by the Tulsa Hills project and enabled by the tax-increment financing district paying for the necessary sewer, water and other infrastructure.
"The spirit of cooperation between Tulsa Hills and the city of Tulsa getting together created the excitement for the rest of the area," said Rupe, the president and chief executive of Rupe Properties and Rupe Building Co., both of Tulsa.
According to Tulsa County Courthouse records, Westridge Plaza paid $3.36 million to the Koelbl Family Trust for 30 acres at the southwest corner of U.S. Highway 75 and South 81st Street, the site for their planned 300,090-square-foot retail complex.
Rupe said the land represents one of the last large tracts available for such development on the corner of a major highway in the Tulsa area.
The new owners expect to complete civil engineering and regulatory needs over the next six to eight months. They then intend to begin construction of Westridge Plaza's 244,000 square feet of contiguous retail space, plus 55,690 square feet in five out-parcel buildings, although the work hinges on securing one or two anchor businesses.
Rupe Building Co. hopes to complete construction by the spring of 2009, working from architectural designs by the Tulsa office of PSA Dewberry.
Walman Commercial Real Estate Services of Tulsa will lead the pre-leasing efforts.
"I'm excited about it just because Westridge offers an alternative-type project," said owner Steve Walman, whose firm also is representing the seller of 97 acres directly north of Westridge and west of Tulsa Hills. That wide space contains a large wooded crest that could make development more challenging, as opposed to the "beautiful flat square" that Westridge Plaza will sit on.
"It's a smaller project, maybe a little easier to get into," he said of Westridge, in comparison to Tulsa Hills. "It's nice looking and has excellent freeway visibility."
If the success of Tulsa Hills is any indication, Westridge Plaza may find a ready market. Set to open in phases beginning in five months, the $90 million, 725,000-square-foot first phase of Tulsa Hills is 97-percent pre-leased.
Rising from the earth along the eastern side of U.S. Highway 75 from 71st Street to 81st Street, Tulsa Hills developers Collett & Associates of Charlotte, N.C., and partner Sooner Investments of Oklahoma City expect anchors Target and Belks to open around March 10, with Lowe's coming online a month later.
Following through the summer will be Best Buy, Starbucks, PetSmart, Payless Shoes, McDonald's and others. The first phase will close out the year with a 65,000-square-foot JCPenney, a Books-A-Million, Bed Bath & Beyond and more.
Since many of those businesses usually attract competitors and tag-alongs to nearby locations, Rupe thinks Westridge is well-positioned to catch them.
Nutt, vice president of Rupe Properties, said Highway 75's 48,800 daily traffic count also will be quite attractive.
With Westridge, Rupe hopes to succeed in one market Tulsa Hills has been unable to secure.
"Our intention is to bring in a grocery," said Rupe, which he said would fill a growing need in the area. "We're looking at several different grocery options."
Westridge Plaza will feature a manufactured-stone exterior, two or more water features and extensive landscaping.
"We envision the out-parcels will be banks, restaurants and a hotel," he said. "Hopefully we'll know more in the next 60 to 90 days."

[T-TownMike]

Looks like the grocery store will go in after all. This area should experience a boom real soon.

[TheArtist]

Perhaps coming into Tulsa on hwy 75 will be like coming into Dallas on hwy 75 someday. "Not gonna hold my breath on that one" But it will give more credence to calling South Tulsa, North Dallas lol.

[sgrizzle]

I'm betting on a neighborhood market based on the not-so-subtle renderings...




http://www.tulsaworld.com/business/article.aspx?articleID=071019_5_E1_hWest35421

[Ibanez]

Oh goody....another fraking Wal-Mart establishment.

[Renaissance]

quote:Originally posted by TheArtist

Perhaps coming into Tulsa on hwy 75 will be like coming into Dallas on hwy 75 someday. "Not gonna hold my breath on that one" But it will give more credence to calling South Tulsa, North Dallas lol.

As I-44 is finished don't be surprised to see continued commercial development, even office parks, spring up in the area.  Where infrastructure goes, business follows.  Of course, that's 10 years from now, but just sayin'.

[MichaelC]

Oh but wait, there's more.  You guys did see where Beeline Furniture was going out of business right?  They're going out of business because they're being purchased by the state for the expansion of that intersection.  That light, south of the Creek Turnpike, 111th Street I think?

My money's on: they're planning to create a controlled access intersection.  Planning to get rid of the only intersection between Glenpool and Tulsa where traffic can actually back up.

[swake]

quote:Originally posted by MichaelC

Oh but wait, there's more.  You guys did see where Beeline Furniture was going out of business right?  They're going out of business because they're being purchased by the state for the expansion of that intersection.  That light, south of the Creek Turnpike, 111th Street I think?

My money's on: they're planning to create a controlled access intersection.  Planning to get rid of the only intersection between Glenpool and Tulsa where traffic can actually back up.

The stoplight at 111th Street in Jenks is going away, there will be a bridge over 111th with an expressway interchange, but only a half interchange since the Creek Turnpike is so close. There will be a frontage road from 111th St going south to the full interchange at 121st Street that will go along the west side of US 75. That road will end right about at the new entrance to the "upscale" Wal-Mart Supercenter on the south side of 121st in Glenpool.

Beeline Furniture is going, as is the gas station, a daycare, several houses and an industrial site. The land along the frontage road will likely be commercial and I bet that Beeline ends up reopening on that street. Hundreds of new houses have been built in Jenks in the last year or two on the west side of US 75 and there are more new subdivisions planned over there.

Construction on the highway interchange is scheduled to start next year, The businesses have to be out by the end of this year. This project has already been delayed three or four years (like all Tulsa area state highway projects) but it really looks like it happening now.

[YoungTulsan]

Maybe other grocers just won't build in West Tulsa because they are privy to Wal-Mart's master plan for the area.  You have the "upscale" supercenter at 121st & 75.  Possibly a neighborhood market at 81st & 75.  Then there were rumors of a supercenter at the Town West shopping center at I-44 & 49th W. Ave.  Heck, even the downtown Wal-mart would pull away some people along the Sand Springs corridor who would consider shopping in West Tulsa.

Now, if all of those came to be, it might be wise for other grocers to be afraid.  Sad part is, if Reasors or someone built in West Tulsa first, it still wouldn't stop Wal-mart.  They have the money to proceed, then run the competitors right back out.

I think they all want to wait it out until Wal-mart is done utterly concquering the terrain here before re-calculating if any store may be feasible.

[BKDotCom]

Any update on this project?
Still in the works?