Upscale open air mall coming to the Village
With Edmond discussing another possible open air Utica Square style mall near Hafer Park, the Village is looking at a similar proposal for land near May Ave. and Britton Rd. where Albertsons and 2 car dealerships once were. It would be called The Village on May.
Wow! I think we're about to see a boom of Utica Square style open air malls in OKC!
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"Embracing The Village: New upscale lifestyle center planned for Nichols Hills, Quail Creek, Lake Hefner markets
By Pamela Grady
pgrady@okcbusiness.com
A new shopping center catering to residents in the Nichols Hills, Quail Creek and Lake Hefner areas is in its initial planning phase and scheduled to open next summer. The outdoor “lifestyle center” will feature upscale retailers, restaurants and office space.
Louis and Michael Almaraz with Grubb & Ellis/Levy Beffort have their sights set on the 12 acres along May Avenue where the former Jackie Cooper dealership, the former Albertson’s and other buildings sit.
This area they plan to one day be known as Village on May Shopping Center seemed the perfect fit to the father and son who said they felt confident the community would embrace the center. The demographics and solid traffic counts in the area proved promising, as well.
The traffic count on N. May Avenue averages 21,000 cars and it is approximately 18,000 cars on Britton Road.
Total population within one mile of the site is about 9,700 with approximately 4,910 households. The median age is 37.8 and average household income is $49,958.
Louis Almaraz said while details can change along the way as the project draws more interest, he currently envisions 135,000 square feet of leasable space, of which 105,000 would be retail and 20,000 office space.
“We’re trying to attract upscale tenants,” Louis Almaraz said. “When you look at how it is positioned in terms of other product in the city, we see that it is in between the Penn Square and Northwest Expressway corridor with all of its retailers and restaurants.
“But when you see how it’s positioned with respect to the residential areas, it is so close and convenient...we see this as a magnet area that will draw from these fairly affluent, and in some cases, very affluent areas.”
However, he said in order for this project to become a reality, they will need assistance from the city of The Village.
Village on May is slated to open in 2006 at 9505 N. May Ave. Total rental space on the south side will be roughly 68,000 square feet with 377 parking spaces. Total rentable space on the north side will be roughly 67,000 square feet with another 376 parking spaces.
“None of the buildings that are there now are useable for this project,” Louis Almaraz said, adding they will need to be demolished. “My understanding of when we would break ground will be the end of the summer or early fall, perhaps.”
ichael Almaraz said the timing for which they decide to break ground officially will be determined by the amount of interest the project draws.
No general contractor has been selected for the project which is planned to be built in two phases.
“I would characterize the current retail market as robust. It remains good,” Louis Almaraz said. “We see a lot of activity still and we continue to see new faces come to Oklahoma City — faces that have shown up in other parts of the country, but new retail names to Oklahoma City.”
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