Retailers sign leases for second phase of Midwest City redevelopment project
By Paul Monies
The Oklahoman
MIDWEST CITY - Bolstered by population growth and nearby Tinker Air Force Base, several retailers have signed leases for the next phase of Midwest City’s downtown redevelopment project, officials said Friday.
Phase Two of the Town Center Plaza project will add stores such as Alltel Communications, Cingular Wireless and Eyemart Express, City Manager Guy Henson said. Others signing leases are Vintage Stock, Dr. Jones Eyecare, Nguyen Nail Salon and Cold Stone Creamery.
About 500 jobs in construction and retail are expected to be created in the next phases of the project, Henson said. Business has been booming along a ¾-mile strip at Interstate 40, SE 29 and Air Depot Boulevard. Phase One of the project included Lowe’s, Target and Kohl’s stores, with construction investment of about $25 million.
Henson said developer Sooner Investment is in the final stages of lease negotiations with prospective tenants such as Starbucks, Hallmark, Panera Bread and Sports Clips for Phase Two, which represents investment of $9 million.
Russell Smith, redevelopment coordinator for the city, said leases for the third phase of the project haven’t been signed, but retailers such as J.C. Penney Co. Inc. have signed letters of intent. Others interested in the area include PetSmart, Staples, Books-A-Million, Famous Footwear and Best Buy.
Sooner Investment also has been marketing parcels along SE 29, Henson said.
“As you can see, there already exists a new Chili’s and Steak and Shake,” he said. “Other prospects include Panda Express, Chick-Fil-A, Old Chicago Pizza and Logan’s Roadhouse.”
With the final two phases and the outparcel development, Henson said about $40 million in construction is expected to be under way within the next six months.
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