Adams Creek Town Center breaks ground June 26

Adams Creek Town Center, a new 22-acre development, broke ground on June 26 on East Hillside Drive and 23rd Street.

Leaders from the City of Broken Arrow joined the Parkes Development Group and investors in a groundbreaking ceremony for a retail development that's been years in the making.

The developers announced with this project that they would bring new names to Broken Arrow, including Burlington, Five Below, Books-A-Million, Shoe Dept. Encore, Pet Supplies Plus, Bealls Outlet, Burkes Outlet, Catrina Fresh Mex, Kids Empire, Goldfish Swim School and more.

"The 142,000 square foot retail development situated on 23 acres right here in the vibrant intersection of Hillside Drive and County Line Road marks a transformation for this community," said Joe Parkes, Jr., Founding Principal of Parkes Development Group.

The development's projected economic impact includes:

• $1.41 billion gross taxable sales over the course of the tax incentive period

• An estimated $876,800 annual sales tax revenue from TIF and $2.86 million to the City annually at the expiration of the TIF

• An estimated $477,800 per year in annual ad valorem revenue benefiting local and county institutions annually, including:

1. Broken Arrow Public Schools

2. Tulsa Community College

3. The Tulsa City-County Health Department

4. The Tulsa City-County Public Library

"For 47 years, the Parkes family has been building retail buildings across the United States, but I can tell you with certainty that Broken Arrow is a special place," Parkes continued. "When we first explored the opportunity, we saw a city with a thriving economy, a strong sense of community, and a clear demand for new retail options."

Parkes touted the City's ranking as one of the top 25 cities to start a new business in 2022 and its ranking as the most affordable and family-friendly city in the U.S. in 2024.

"Today, we're proud to contribute to that momentum with a $70 million project that will bring fresh energy to this corridor," Parkes said. "So, as we break ground today, I'm reminded of what makes Broken Arrow truly unique. It's a blend of small-town charm and big-city ambition."

In June 2023, the City Council approved Resolution 1537 authorizing the use of public funds to assist in financing the Adams Creek Development project. Tax Increment Finance (TIF) District 4 was implemented as a valuable way for the City to promote economic growth by designating a particular area to capture the new tax revenue generated.

The City incentivized the development by providing a maximum of $16 million, to be paid with two percent of the new sales tax collected from the gross sales tax from businesses at the new shopping center.

Mayor Debra Wimpee thanked the Parkes Development Group for investing in Broken Arrow.

"Many of you may not realize that the State of Oklahoma is very unique, that our municipalities run on sales tax revenue," Wimpee said. "So, we pay for our streets, our police, and firefighters with sales tax revenue. So, when you get this type of development coming to your city, it's a very big deal!"