Broken Arrow EDA weighs third amendment to Adams Creek Town Center; developer says site moving forward

The Broken Arrow Economic Development Authority on Tuesday considered and approved a third amendment to the economic development agreement for the Adams Creek Town Center, a 22-acre retail development east of Lowe's.

"This drops the square footage from the original 160,000 square foot to 130,000 square square feet," Jennifer Rush, Economic Development Director for the City of Broken Arrow, told trustees as she introduced the amendment and invited the developer to give a status update. Rush said the amendment imposes no cost to the city.

Developer representative Bob Martin of Parks Development Group described progress at the site and the reasons for the reduction. "When we first started the presentation to you all, the total square footage of the center could have been 200,000 square feet. It's now we lost a 105,000 square feet during this process," Martin said, describing phased reductions and tenant changes. He listed current and prospective tenants, including Burlington Cove, 5 Below, Shoe Encore, Books 1000000, a Goldfish Swim Club and a nail salon, and said he expected one more tenant might come forward pending minor plan adjustments.

Martin described weather delays and contractual constraints for at least one tenant, saying, "If I don't deliver their space on the day that we say we're gonna it's a $150,000 penalty, day 1." He said he was waiting on Lowe's to approve a plan change and that "we do plan a groundbreaking on I think it's the 26th of this month," though he noted site conditions could affect where people stand for the ceremony.

A motion to approve the amendment was made, members used the electronic voting buttons, and the chair declared the motion approved.