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Local & Regional

PAC Trust Looks at Supermarket and Apartments for Downtown

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Flaherty and Collins
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If you think all downtown Tulsa is missing is a grocery store, well, the ball is rolling.

The Performing Arts Center Trust is considering a proposal by Indiana-based developer Flaherty and Collins to build a retail and residential project anchored by a 32,000 square foot Reasor's on the PAC-owned parking lot at Third Street and Cincinnati Avenue.

"We're watching our third grocery store pop up in downtown Indianapolis right now, because the first two are doing so strong," said Flaherty and Collins Vice President of Development Ryan Cronk. "Minneapolis-Saint Paul, Kansas City, you've got very successful grocery store markets, so when we came to Tulsa and saw that there was not a downtown grocery store, for us that was kind of a no-brainer."

Flaherty and Collins built a project in downtown Indianapolis similar to the one proposed for Tulsa. Cronk said up to 70 percent of its residents are moving in from outside the area — and Tulsa has a leg up on Indy.

"Tulsa's way ahead at downtown," Cronk said. "You look at restaurants and stuff of that nature, typically, you see the services come after the residential, and we feel that the residential is way underserved downtown."

Plans call for 12 floors of buildings that include 240 apartment units and a two-level Reasor's focused on fresh food. The project will have 300 of its more than 600 parking spots open to theater patrons. That's more than the 295 in the PAC lot now, and Cronk said they'd be better.

"So, today, you know, they park on a surface lot and if — and when we get this deal done, they'll be able to park in a fully covered garage," Cronk said.

The PAC Trust may vote at its next meeting on whether to start contract negotiations.