Reasor's Is 1st Tenant Announced For Mixed-Use Development In South Broken Arrow
A 60,000-square foot Reasor’s will anchor a $40 million mixed-use project in south Broken Arrow.
The city council and Broken Arrow Economic Development Authority approved a resolution last week for OakTrust Development to buy 40 acres of city-owned land on Aspen Avenue just north of the Creek Turnpike for the project.
The Reasor's store will be the company's second in Broken Arrow. The company closed what was its second Broken Arrow store at New Orleans and Elm in 2019.
Plans for the development also call for 200,000 square feet of additional retail and commercial space and 168 apartment units.
"City of Broken Arrow is moving forward, and we’re not moving forward slowly. Things are really blooming in our great city," said Assistant City Manager Norm Stephens.
The city created a tax increment financing district to cover more than $5.5 million in public improvements for the site, including a new traffic signal, road, water and sewer lines, and a building pad.
"We have to have a reputation that our community’s easy to work with and finds ways to help the private sector make investments and reinvestments in the community," said City Manager Michael Spurgeon.
City officials said the mixed-use development is needed to appeal to younger residents.