Tulsa Retail Market Study and Strategy

Bookmarked for further reading: The City of Tulsa commissioned Place Dynamics of Milwaukee, Wisconsin, to do a study of Tulsa's retail health and to identify strategies for improvement. The 245-page Tulsa Retail Market Study and Strategy report is now online.

From the city website:

The City of Tulsa relies on sales tax income within the city limits to fund operations, maintenance and capital improvements. It is the lifeblood of our revenue stream and is supported by economic development initiatives that create jobs. As part of the Vision Tulsa initiative, the City hired a consultant, Place Dynamics, LLC of Milwaukee, Wisconsin to prepare a comprehensive market analysis and strategy to:

• Provide a retail market study
• Assess specific retail districts (districts to be determined)
• Review the emergence of the small box retail stores
• Investigate the cash economy, where financial transactions are carried out in cash, rather than debit withdrawals or credit.
• Forecast for growth and demand
• Develop a market-based economic development strategy

Working with our retail stakeholders (representatives from banking, real estate management, local business, developer, chamber, economic development) we will examine the big picture of our retail environment, by identifying the trends that shape both retail and dining industries, and how they play out in Tulsa. Select districts will undergo a more in-depth analysis to assess their potential and the degree to which they meet the needs of the trade areas they serve. The end result will be a market-based economic development strategy with recommendations to help guide future business programming and incentives.

The report states: "A total of 13 study areas were selected for analysis, with the intent of examining a cross-section of commercial area types. In doing so, they [sic] areas that were studied will serve as case studies and models that may be applicable in other locations across the city." Here's the list, with my annotations in brackets.

• Pine and Peoria [including Pine west to the Midland Valley Trail]
• Pine and Sheridan [I-244 north to OK-11]
• 21st Street corridor [nodes from 15th to 23rd at Yale, Sheridan, and Memorial]
• Downtown
• Route 66 East [11th Street from Peoria to Columbia, plus 6th Street from Peoria to St. Louis]
• Tulsa Promenade [includes Southroads, OU-Tulsa campus, Highland Plaza]
• 51st and Union [51st from 33rd West Ave to US 75]
• 71st and Peoria [Peoria from 61st to 71st; 71st from Peoria to Joe Creek]
• 51st and Memorial [includes Fontana Center, Memorial from 46th to 51st]
• 71st Street Corridor [Memorial to Garnett]
• International District [21st Street from Garnett to 129th East Ave]
• River West/Eugene Field [West Tulsa townsite]
• 36th Street North [Cincinnati to Peoria]

This is not the first time that Tulsa has asked an outside consultant to help boost its retail profile. In 2004, the City of Tulsa commissioned the Buxton Group to identify sites for new retail development that would help the city capture a greater share of regional retail dollars. Buxton pinpointed two key locations -- 71st Street and U. S. 75 on the west side; I-44 at 129th East Ave on the east side -- that would capture customers inside and outside the city limits. The first site became the Tulsa Hills development, thanks to the tireless efforts of then-City Councilor Chris Medlock. National retailers that might have located in Jenks landed within Tulsa's city limits instead, allowing us to capture sales tax revenue for city operations. The east-side site was never developed beyond a McDonald's. National retailers that might have found a home there within Tulsa's city limits instead located near the Hard Rock Casino in Catoosa.