Next Steps Being Evaluated in Evans-Fintube Redevelopment
Tulsa, Okla. | June 8, 2023 – Following a two-year community-led process to redevelop the Evans-Fintube site in North Tulsa, the City of Tulsa and PartnerTulsa have notified Be Good Development Partners that further negotiations with Team Alchemy for redevelopment of the Evans-Fintube site will not be pursued due to a material change to the development team, and failure to maintain qualification for selection as the Master Developer in accordance with the requirements of the Request for Proposals (RFP).
Evans-Fintube, a former industrial site in the Greenwood District, is a 9-acre site owned by the City of Tulsa. PartnerTulsa is leading efforts alongside the City to redevelop the property into a destination, mixed-use project that represents community desires and needs with the goal of creating community wealth-building opportunities.
“Over the past two years, hundreds of Tulsans engaged in a process to help envision the possibilities for redevelopment of the Evans-Fintube site,” Mayor G.T. Bynum said. “Throughout these efforts, it was clear that North Tulsa residents, stakeholders and partners are eager to see progress and a development that brings economic opportunity to the neighborhood. While this is a disappointing setback, the City remains steadfast in its commitment to identifying the best approach to redevelopment that will support these long term goals.”
In September 2021, PartnerTulsa opened an RFP after releasing a shortlist of four developers. After a community-driven process, Team Alchemy was selected on May 10, 2022, to redevelop the site.
Upon notification in February that Team Alchemy’s co-development partners (JE Dunn Capital Partners/Greyson Capital) withdrew, which presented a substantial risk to the project’s viability, Be Good Development / Team Alchemy received a 120-day extension to respond to a Request for Project Documentation. The Team was encouraged to find a new co-development partner matching the resources of its original co-developers and provide documentation that it possesses the experience, qualifications and financial capabilities to continue.
After careful consideration and review of the Team’s June 1 response, further negotiations will not be pursued because of failure to provide necessary data and information to verify Team Alchemy and/or Be Good Development meets the minimum requirements to comply with the original RFP for submission and award.
“Development projects of this magnitude are incredibly difficult to bring from concept to construction to completion. While we are disappointed to have to take this step, we are committed to pursuing redevelopment of the Evans-Fintube site. In particular, we anticipate leveraging our learnings from this process to re-engage the community and re-envision our approach to the site,” said Kian Kamas, Executive Director of PartnerTulsa.
PartnerTulsa will host a Community Update Meeting on Wednesday, June 14 at 6:30 p.m. at the Greenwood Cultural Center. This meeting is designed to explain the process to date, update the community on the recent determination, and offer preliminary information on potential next steps.
Over the next 6-9 months, the City of Tulsa and PartnerTulsa will evaluate development potential based upon current local, regional and national market conditions and trends, as well as conduct additional community outreach and engagement. Individuals interested in learning more can sign up to receive project updates here.
More information can be found online.
About PartnerTulsa
PartnerTulsa is the City of Tulsa’s economic development Authority that streamlines and strengthens Tulsa’s economic development efforts through the merging of the Mayor’s Office of Economic Development (MOED), Tulsa Industrial Authority (TIA), Tulsa Parking Authority (TPA), and Economic Development Commission (EDC) into a single, enhanced Public Trust. Partner Tulsa (aka TAEO) is governed by a thirteen (13) member Board of Trustees and provides staffing for and oversees the operations of the Tulsa Development Authority (TDA). For more information about PartnerTulsa, visit www.PartnerTulsa.org.
Media Contacts:
PartnerTulsa:
Cheena Pazzo
cheena@one80.us / 918.625.1937
City of Tulsa:
Carson Colvin, APR – 918.949.1356
Michelle Brooks – Mbrooks@cityoftulsa.org