The Shops at Tiger Crossing, a new 18-acre development, is coming to the northwest corner of 23rd and Albany Streets, north of Broken Arrow High School.
The project is expected to create approximately 200 construction jobs and 125 full-time jobs upon completion.
It’s estimated to generate $525,000 in annual ad valorem taxes and $2.5 million in annual sales tax revenue.
The Broken Arrow Economic Development Authority authorized an economic development agreement between the city and Shops at Tiger Crossing, LLC, at its meeting on Sept. 16.
Tiger Crossing LLC is a division of Bhow Capital, a family-owned and operated private equity firm based in Tulsa.
Negotiations with Bhow Capital President and CEO Neal Bhow and son Shaun Bhow have been underway for several months, according to Assistant City Manager of Administration Norm Stephens.
Stephens says the project site will consist of two main development zones.
“A 10-acre track bordering the arterial streets will be for commercial development and another eight acres behind that will be reserved for residential light office use,” Stephens said. “The developer will construct seven pad sites for sale, lease, or build-to-suit for commercial, retail, restaurant, or service-oriented businesses with a minimum investment of no less than $14.6 million.”
In consideration of the developer’s agreement to construct the project, the city and Authority agreed to provide Tiger Crossing LLC with a sales tax rebate that will not exceed $2 million over the next 20 years.
The rebate will be split, with $0.32 per dollar going to the developer and $0.68 per dollar going back to the City.
“Also, we will reimburse the developer for 600 linear feet of sidewalk to be placed on County Line Road, not to exceed $20,000,” Stephens said. “That’s a greater public benefit, especially across from the school.”
The city will also provide a waiver of the site development permit fee instead of the stormwater detention, not to exceed $210,000.
Vice Mayor Johnnie Parks asked Stephens how much sales tax revenue the city would receive from the property if it’s not developed.
“We will get exactly nothing,” Stephens said.
For his part, the developer also agrees to construct or cause to construct a minimum of 25,000 square feet of commercial retail or service businesses by May 2030.
Although the remaining sites have not been sold, it is anticipated by both the developer and city staff that the remaining property associated with Shops at Tiger Crossing will yield additional square footage of retail space.
Over the course of the sales tax rebate, the Authority will rebate back to the developer an amount not to exceed $2 million or 22.96 percent, and the city will retain $6.7 million or 77 percent.
The city previously worked with Bhow Capital on the Tiger Hill Development and the Northeast Crossroads Development in front of Target.
Shaun Bhow attended the meeting to address questions. Mayor Wimpee asked him if the developer had any letters of interest to announce.
“We have been focused primarily on site infrastructure development lately, working with public works and the developments there,” Bhow said. “But we do have approximately 50 percent letters of intent in hand for the retail development for the 13,000 square foot shopping center that we are building ourselves on-site. We’ve got a specialty beverage user, a specialty food user, and a nail salon all on board now.”
Bhow said those letters are enough for the developer “to pull the trigger on this development.”
“So, we’ve just got stamped drawings in hand tomorrow from the civil contractor, and we’ll be going forward with civil utilities within the next month or so,” Bhow said.
The developer also met with the Broken Arrow Public Schools administration during the process.
“We had the opportunity to meet with the school administration there during the PUD process and had some good conversations with them, and they’re excited about the development as well,” Bhow said.
During the City Council meeting, the City Council approved Tiger Crossing’s Conditional Final Plat under the Consent Agenda.
When asked about the development’s timeline, Bhow said, “We’ve been working on this development for the better part of two years. Much of the legwork has been done already. To answer the question, I anticipate the retail center being up by early 2027, first quarter 2027.”
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