By John Dobberstein, Editor
The Broken Arrow City Council approved an economic development agreement Tuesday that calls for a new retail center to be constructed on the city’s northeast side.
The $14 million Shops at Tiger Crossing development is proposed for the northeast corner of 61st Street and County Line Road. The developer, Bhow Capital, said the 17.6-acre retail project aims to, “enhance the city’s economic growth” in the area north of Broken Arrow High School.
The project is expected to create approximately 200 construction jobs and 125 full-time jobs upon completion, as well as generate about $525,000 in annual ad valorem taxes and $2.5 million in annual sales tax revenue.
The city and the Broken Arrow Economic Development Authority agreed to provide the developer up to $2 million in sales tax rebates over 20 years by way of a sales tax rebate. The rebate will be split, with $0.32 per dollar going to the developer and $0.68 per dollar — an estimated $6.7 million — going back to the city.
The EDA also plans to reimburse the developer for 600 linear feet of sidewalk construction along County Line Road.
The agreement calls for Tulsa-based BHow Capital to build 7 pad sites for commercial retail, restaurant or service-oriented businesses.
The site will consist of two main development zones, a 10-acre tract bordering the arterial streets will be utilized for commercial development and the remaining 8 acres will be reserved for residential and/or light office use. The developer is the same firm that developed the Tiger Hill project a few years ago.
Neal Bhow, owner of Bhow Capital, said his firm has acquired the undeveloped property over the last 2 years, and the project has gone through several “design iterations”
Shawn Bhow, vice president of Bhow Capital, said the firm has letters of intent for about 50% of the 13,000 square feet of retail that it is building out, which includes a specialty beverage user, specialty food user and a nail salon.
The developer agrees to construct a minimum of 25,000 square feet of commercial retail or service businesses by May 2030.
Denise Whiteurst Felton says
What types of merchants and/or businesses will be constructed at the end of County Line, south of Broken Arrow High school?