Broken Arrow authority hears update on Aspen Ridge; staff asked to pursue extension

The Bridal Arrow Economic Development Authority received an update on the Aspen Ridge project and moved to have staff pursue an amendment to the development agreement after hearing that multifamily construction has not started.

Norm Stevens, assistant city manager of administration, told the board that on "06/29/2021, Bridal Arrow Economic Development Authority in the city of Broken Arrow entered into an economic development agreement with Oak Trust Development LLC" that included construction commitments: a "60,000 square foot" grocery store due by 06/30/2023, a "168 unit multifamily apartment complex by 06/30/2023," and "over 200,000 square foot of new retail and commercial space by 06/30/2024." Stevens said the authority had an infrastructure commitment "up to $5,530,000." He said amendments previously extended several deadlines and that the grocery opened on 08/08/2024, but the apartment work has not begun because engineering plans were returned with deficiencies.

Developer Steve Easley told the board the retailer "have no concern about the apartment" and said drawings were complete and "it's ready to be built." Board members discussed calendar options and one member proposed an October 1, 2025 start with completion by 09/30/2027; Stevens and Easley indicated the dates would allow sufficient time. A committee member then moved that General Manager Spurgeon be authorized to make an extension to the amendment; the motion was seconded and the board cleared the room to enter executive session for further discussion. No public roll-call vote on the final extension was recorded in the public transcript.

The matter will return to the authority after the staff-prepared amendment (described by Stevens as a "0.2 Amendment") is drafted and presented for formal action.