Riverwalk Phase II

[BKDotCom]

set to begin - minus the condos:
http://www.tulsaworld.com/business/article.aspx?subjectid=32&articleid=20081212_32_E1_Rtisal918317

[Stone]

There's a sign at the entrance now advertising a McDurmots Irish Bar and Grill and the Lewis and Clark outfitters.

[BKDotCom]

That's something I guess, because other than a backhoe that's been sitting over by the theater, I haven't seen anything happening...

[TheArtist]

I'll believe it when I see it.

[sgrizzle]

Apparently they want Jenks to help out on the infrastructure side:
http://www.tulsaworld.com/news/article.aspx?subjectid=298&articleid=20090216_298_0_JENKST336547&archive=yes

quote:
Jenks proposes improvement district for commerical development

by: SUSAN HYLTON World Staff Writer
Tuesday, February 17, 2009
2/17/2009 4:54:26 AM

JENKS — The city of Jenks is proposing an improvement district that would fund a $1.3 million infrastructure project to help make the second phase of the RiverWalk Crossing development happen.

After multiple delays since 2007, the proposal comes after RiverWalk developer Jerry Gordon secured a $41 million loan and began turning dirt on the project in December. "RiverWalk Crossing has been very successful, and we look forward to Phase 2 being constructed," Jenks City Attorney Stephen Oakley said.

The development includes retail stores, offices, restaurants and entertainment venues. Noting that the funding proposal is something the city has never before done, Oakley said today's lending market isn't exactly what it used to be, either.

Oakley said Gordon would pay back the $1.3 million with interest plus about $22,000 in administrative costs, over 15 years.

"Our lien is in front of the bank's lien, so the bank will make sure everything's paid," Oakley said.

Gordon's bank, American National Bank of Texas, wanted some assistance with the project, Oakley said. "They needed a certain amount of equity in place," he said.

Gordon would not receive a lump sum under the plan. Oakley said he would have to provide evidence of improvements and that the payments would be made to the contractors.

The infrastructure work would include water lines, sanitary and storm sewers, paving, curbs and gutters.

"Those infrastructure improvements will either be deeded over to the city or conveyed to the city in some form, either as an easement or an actual conveyance," Oakley said. The storm sewer drains will also benefit the K Place project on a dead-end street that will connect to the RiverWalk second-phase development.

The City Council voted Monday night to proceed with the project and hold a public hearing on the issue as soon as March 2.

A bank would loan the funds to the Jenks Redevelopment Authority, and the money would flow through the city as projects are completed.

Jenks would have the same foreclosure powers on the property as counties do against property owners who don't pay their property taxes.

"That's why the mortgage company is not going to let it go into default," Oakley said. The existing RiverWalk and its second phase are not exempt from sales or property taxes, Oakley said.

Lewis & Clark Outfitters is set to be the anchor tenant of the second phase, which is to add another 125,000 square feet of retail space north of the existing 110,000 square feet.

The second phase was 45 percent leased in December, with an additional 30 percent spoken for in letters of intent.

Gordon sold 10 acres for $1.8 million to John and Stuart Price, who plan to build a 200-unit apartment development.

[TheArtist]

Wow, wonder how long this thing will drag on? I hope it happens. Will be a really nice place once, if, its all done.

[patric]

Apparently the Riverwalk folks are very touchy about publicity:

JENKS, OK -- A troubled retailer who talked to The News On 6 on Monday night got a 24-hour eviction notice on Tuesday morning.

"When I first signed my lease you know I was told that there would be some nationally recognized companies coming in, you know maybe a Gap, Bath and Body Works or Bed Bath and Beyond and it would be open for business in spring/summer of 2007," said Dara Dupler, owner of Azure Couture.

Dara Dupler thinks her statement is the reason The RiverWalk Crossing in Jenks is trying to kick her out.  She had planned to close her store, Azure Couture, in a couple of weeks.

In the original story, Dupler placed part of the blame on broken promises from the developer of the RiverWalk Crossing.
She says she plans to fight the eviction.

[Cats Cats Cats]

Surely it wouldn't be related...  I guess I know why I walked by the riverwalk and kept asking myself... Why the hell would you open this here.  Soon they will have 0 retail.

[FOTD]

What ever happened to Inteller? Iplaw?

Who banked this shenanigan?

[Gaspar]

I've been in every business out there (almost every weekend).  Her business has some nice stuff, but it's expensive as hell!  I like to look at it but like everyone else, I'm not buyin.

I would say it's the business model, not the atmosphere.

[Hoss]

Surely it wouldn't be related...  I guess I know why I walked by the riverwalk and kept asking myself... Why the hell would you open this here.  Soon they will have 0 retail.

Sounds like a Jenks mini-version of Tulsa's Eastland Mall.

[Conan71]

I've been in every business out there (almost every weekend).  Her business has some nice stuff, but it's expensive as hell!  I like to look at it but like everyone else, I'm not buyin.

I would say it's the business model, not the atmosphere.

It's most definitely not a lack of traffic that's killing her business.

[Gaspar]

It's most definitely not a lack of traffic that's killing her business.

No, the place was usually full of folks browsing when we've been there.  They have some really nice stuff, it's just outrageous. 

[Conan71]

Retail FAIL

[Cats Cats Cats]

I've been in every business out there (almost every weekend).

That must take about 5 minutes (assume you are talking about NON-food businesses)