Broken Arrow: The Rose District (Downtown Revitalization)

[Hoss]

Last year was pretty trash for the actual rink surface

Oklahomans don't know any better...

[TeeDub]

Drove by it over the weekend.   

Not the crowds that the outdoor slating rink by BOK (Winterfest) has, but there were quite a few people there for it being as cold as it was.

[EricGarcia]

http://www.tulsaworld.com/business/realestate/million-development-announced-for-broken-arrow-s-rose-district/article_4785b5fe-62bc-5ecd-877d-191cb8666708.html

$18 million dollar mixed-use development coming to the Rose District.

[heironymouspasparagus]

http://www.tulsaworld.com/business/realestate/million-development-announced-for-broken-arrow-s-rose-district/article_4785b5fe-62bc-5ecd-877d-191cb8666708.html

$18 million dollar mixed-use development coming to the Rose District.

They still aren't saying who is paying for what and who is gonna end up owning what.  Cowen is a builder.  Are they gonna keep the place and run it?  Or building on 'spec'..??  Milestone Capital gonna be the owner?

City admits to another $1.5 million plus $150,000.  Up to about $2.5 million to get $150,000 a year back in sales tax.  How much property tax deferral/break is gonna go to the eventual owners??  Big place like that should generate some serious coinage.  Did they give it all away?

[TeeDub]

They still aren't saying who is paying for what and who is gonna end up owning what.  Cowen is a builder.  Are they gonna keep the place and run it?  Or building on 'spec'..??  Milestone Capital gonna be the owner?

City admits to another $1.5 million plus $150,000.  Up to about $2.5 million to get $150,000 a year back in sales tax.  How much property tax deferral/break is gonna go to the eventual owners??  Big place like that should generate some serious coinage.  Did they give it all away?

Broken Arrow has always had problems with math (Bass Pro) but in the meantime everything seems to be working out.   I would much rather see more development like this one than empty shells of old churches.   

(Besides, after seeing the good that came out of the fiasco that was the BOK center and the 2025 taxes, I will just enjoy the ride.)

[BKDotCom]

Broken Arrow has always had problems with math (Bass Pro) but in the meantime everything seems to be working out.   I would much rather see more development like this one than empty shells of old churches.   

(Besides, after seeing the good that came out of the fiasco that was the BOK center and the 2025 taxes, I will just enjoy the ride.)

Does an empty church shell generate less tax revenue than an open-on-Sundays church?

[heironymouspasparagus]

Does an empty church shell generate less tax revenue than an open-on-Sundays church?

Lol.... 'bout the same...


The building was getting pretty ragged and it was not great enough architecture to be considered anything special.  No big loss.  I am just not much of a fan of my taxes (I spend money out there regularly) going to support what should be private commercial enterprise.  Now if the city gets an equity position in the project proportionate to the investment, then that's one thing.  Bass Pro - BA should have gotten some stock out of it to allow potentially benefiting from giving them lots of money.  Get some shared risk/reward going on there.

Same with this project - BA has hundreds of thousands in the game before anything has happened.  And the tax benefits given to these people just go directly into their pockets in dividends - and out of MY pocket as subsidies to help make them richer.

[Breadburner]

Does an empty church shell generate less tax revenue than an open-on-Sundays church?

You bucking bet it does....

[TeeDub]

I agree in hating to spend tax dollars to enrich the already rich, but that building was an eyesore (an empty church, then a failed funeral home, then filled with nothing but black mold.)    I am afraid if the city waited for private development to do something, they would have just seen more of the sprawl I see ranted about regularly on here.

Hopefully it is as successful as many of the other projects.

On the upside, one of the waiters in the Andolinis said that the gelato/fresh pasta place is scheduled to open on the 14th.