The City of Tulsa is looking for some help to get a large-scale, mixed-use project started across from the downtown Performing Arts Center.
The city council has been asked to sign off on the city applying to the state commerce department for up to $12 million to help reimburse the developer of a project slated for the PAC parking lot at Third Street and Cincinnati Avenue.
Economic development specialist Spencer Mitchell said the request will supplement what’s captured in city sales tax from a special taxing district set up around the proposed development.
"Essentially, we are asking the state for matching payments to be used toward the development for three of its parts. So, things that we think are critical to the development and also critical to downtown," Mitchell said.
The three parts of the project the city wants help funding are a 20,000-square foot grocery store, 240-unit apartment tower and parking garage. The development, known as The Annex, will also include 20,000 square feet of retail space and a 109-room hotel.
City Councilor Kara Joy McKee said her constituents are ready to see it built.
"This is going to do some really good things for downtown, especially that grocery store, but the density and the safety and the walkability enhancements that come with increased density and just more people down here I think will be a great benefit," McKee said.
The project has been in the works several years. Indiana-based Flaherty and Collins is the developer.
