Shops, apartments, hotel arriving at the parking lot of the Tulsa Performing Arts Center
The trust for the Tulsa Performing Arts Center says it has finalized a multi-million dollar deal, which has been in the works for years.
3rd Street and Cincinnati parking lot just east of PAC will be transformed into a grocery store, hotel, apartments and stores after PAC Trust approves $ 5.5 million deal with developer based in Indiana.
Big plans have been underway for the parking lot where people have been coming to stop for decades. The Tulsa Performing Arts Center Trust has owned the east lot since 1977.
“We are delighted to develop this very important property,” said Mark Frie, CEO of PCA Trust.
The renderings show the dramatic changes taking place in the heart of downtown, with views of 3rd and Detroit facing northwest, and 2nd and Detroit facing southwest.
With all the changes, PAC said the developer still plans to give people a place to park, with a garage offering 450 spaces.
“Right now there are 300. So we’re building 150 more than there are now,” said Frie.
Frie said the money from the parking lot has helped fund community engagement programs in the past and said the multi-million dollar sale will ensure the programming will be there for years to come.
“To be able to recover what we lose when we sell the asset, we will invest that money so that we can continue to have a source of income to be able to carry out the programs that we want to do,” he said.
PAC has yet to release the name of the grocery store or a construction schedule. Reasor’s confirmed on Tuesday that it will not be opening a new location downtown.
News On 6 called the developer in Indiana for comment and has not heard back.