BROKEN ARROW, Okla. — The City of Broken Arrow is planning a new 200,000-square-foot retail concept on 23 acres of land near Kenosha and 23rd Street.
Broken Arrow announced the new development Wednesday, saying the development will benefit the city's economy.
Economic Development Manager Jennifer Rush said it had been a struggle to develop that property due to high construction costs and what infrastructure was needed for the area.
"This is a true example of a public/private partnership process," Rush said. "Not only will this development impact Broken Arrow, but it will also impact development on the eastern part of the city," Rush said.
Broken Arrow City Council held public hearings on the development, where attorney Nate Ellis spoke in favor.
According to Ellis, provisions will be implemented to ensure the development adds new brands currently unavailable within the City of Broken Arrow.
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"That way, tax dollars aren't just moving around, but it will be new tax dollars generated by the city," Ellis said. "If they would just close and move to the new area, there wouldn't be any benefit to the city."
"On June 19, the City Council approved Resolution 1537 authorizing the use of public funds to assist in financing the development. And on June 5, they approved the creation of Tax Increment Finance (TIF) District 4. A TIF District is a valuable way for a city to promote economic growth by designating a particular area to capture new tax revenue generated," the city said in a press release.
Stores including Kohl's, Burlington Coat Factory, Carter's, Five Below, Shoe Station, Painted Tree, and Burkes Home Centric have expressed interest in setting up shop in the area.
To read more about the project, click here.
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