August 21, 2007
Lynn Mitchell, president of River District Development Group, L.L.C. (RDDG), a group of local entrepreneurs, today unveiled plans for its world class destination development to be known as The River District. The River District, an “urban village” concept, will become the largest mixed-use development in the state of Oklahoma. It will include 852,000 square feet of high-end retail shopping as well as a vibrant mix of restaurants, café’s and entertainment venues. The River District, a 300+ acre site, will also include 650 hotel rooms and a small convention facility. Additionally, plans include 400,000 square feet of class A office space designed to attract both start-up companies and to promote the relocation of established businesses to the Tulsa metro area. The River District plans to include 300 condominium units in the initial phase of the project which overlook an 80 acre lake and will include structured parking facilities. The project also boasts a fountain and water feature set to a music library designed by Wet Labs of California. Wet Labs is the company responsible for the fountains at the Bellagio Hotel in Las Vegas and other worldwide hotel, casino and retail developments. Further amenities include a town square, fashion district, park areas and lake frontage.
In addition, The River District announced that it has entered into preliminary agreements to become the new home for the Tulsa Drillers with a 7000 seat state-of-the-art ballpark. Lease agreements relating to the ballpark are being finalized in the coming weeks.
The River District is expected to expand on the Tulsa County development of the Arkansas River by attracting new businesses and creating thousands of jobs. The privately-financed project is expected to hit the $1 billion mark in total investment dollars and create more than 4,000 permanent jobs and 7,000 construction jobs over the next 5 years. The total economic impact of ongoing operations of The River District is expected to be more than $340 million a year. To enhance the economic impact to Tulsathe developers will utilize the talents of local firms for construction and financing.
Lynn Mitchell of RDDG said developing the river countywide is important to the project. “The discussion of putting the river corridor master plan into motion certainly accelerated our timing and provided our investors with the confidence to move forward with The River District project,” Mitchell noted.
“Today is the culmination of nearly a year’s worth of planning, design and due diligence. The effort put forth by my partners to capitalize on the enormous assets we have in this area of the state will serve only to grow and prosper the entire Tulsa community,” said Mitchell. “Building this world-class Urban Village will help Tulsa attract top companies, create valuable jobs and make Tulsa the commercial capitol of our state. I want to commend everyone who has played a role in the development along the Arkansas River.”
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