Mar. 12, 2010--The Tulsa Development Authority approved a development contract Thursday for a $38 million mixed-use project across the street from the BOK Center.

The project, called "One Place," calls for a hotel, residential lofts, restaurants, retail stores, art and green space within one city block.

"This development will contribute to the other revitalization efforts downtown," said Bob Eggleston, principal of One Developers LLC.

"Actually, this is beneficial to the entire metropolitan area," he said.

The development, he said, will create jobs, generate city revenue, and attract more residents and visitors to the region.

It is planned for the entire city block bounded by Second and Third streets between Denver and Cheyenne avenues.

The site is made up of three parcels.

The largest, about three-quarters of the block that was owned by the Tulsa Development Authority, was purchased by One Developers for $1.5 million.

The land appraised for $2.4 million.

The development firm already owned one of the two smaller parcels.

The final piece, the former location of the now-razed Towerview apartments, is owned by Concorde Development of Oklahoma, which has sent One Developers a letter of intent to either sell the property or join the project.

Eggleston said that with the BOK Center ranking 12th in the world for arena ticket sales, One Place will provide visitors an opportunity to shop, dine or relax before and after an event.

He

said the residential component will contribute to the downtown housing demand among young professionals and empty-nesters.

Rachel Zebrowski, the project's architect, said those involved "applaud the TDA for making the decision to allow us to make this investment into downtown."

"The mixed-use concept will be a first for downtown and contribute to the Tulsa skyline," she said.

The next step for the project is environmental studies while the architecture plans and design development continue, said Brittany Sawyer, spokeswoman for One Developers.

Eggleston unveiled the project to the Tulsa Development Authority nearly a year ago.

In addition to Eggleston, Hank Pellegrini has a financial interest in the project through Cheyenne Development LLC. Pellegrini is the son-in-law of Bill Lobeck, the husband of former Mayor Kathy Taylor.

P.J. Lassek 581-8382 [email protected]

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