An Indianapolis-based mall developer has purchased the acreage on which for years it has planned to build a mall in Jenks, land records show.
Tulsa Premium Outlets LLC has purchased about 51 acres from River District Development Group LLC for $12 million, a deed dated July 31 indicates.
Messages left with Robert A. Burk of River District Development Group weren’t immediately returned. Simon Property Group, the largest shopping mall operator in the country and backer of Tulsa Premium Outlets, couldn’t immediately be reached for comment.
But Jenks Mayor Robert Lee said in a statement that “we couldn’t be happier to see this project coming to fruition.”
“In addition to the revenue the Simon Premium Outlet Mall will bring the city, we look forward to the positive impacts it will bring to the Oklahoma Aquarium, Riverwalk, and our historic downtown.
“This has been a group effort spanning many years. I’m grateful to the tireless work of Simon Premium Outlets, city staff and my city council colleagues, past and present.”
Last spring, a sign placed near the site of the planned Tulsa Premium Outlets, across the Creek Turnpike from the Oklahoma Aquarium, indicated that an 80-retailer mall is coming in 2020. The center is expected to occupy at least 340,000 square feet, according city of Jenks records.
The Jenks City Council OK’d a request by River City Development in February to approve a preliminary/final plat for Tulsa Premium Outlets at 101st Place and Seventh (Beach) Street. The council also approved a sales tax economic development agreement with Tulsa Premium Outlets that was amended in March.
The agreement states that the company will invest about $100 million in the mall, which is estimated to create 400 temporary construction jobs and 800 full-time and part-time jobs at the mall. Also, under terms of the pact, the city of Jenks is obligated to pay Tulsa Premium Outlets a sales tax contribution equal to 1½ percent of mall sales. That contribution, not to exceed $17 million, is to be used by Tulsa Premium Outlets to offset an estimated $30.27 million it will incur in public improvement costs.
When the Jenks City Council rezoned the land, Simon said it would break ground in 2016 and open in the summer of 2017. But the groundbreaking never happened.
Mitigating anticipated traffic concerns, about $20 million in Creek Turnpike interchange improvements were completed near the proposed Simon project in 2017.
In 2013, municipal voters approved a bond initiative that devoted $7.5 million to develop and upgrade the interchanges at the Creek Turnpike and Jenks intersections. The Oklahoma Turnpike Authority appropriated an additional $10,588,000 to expand the interchange at the Creek Turnpike and Elm Street.