Groundbreaking for the Northeast Town Center
The groundbreaking for owner Charles Shadid and architect Rick Brown's redevelopment of the Northeast Oklahoma City Town Center took place on Thursday, February 25.
The redevelopment of the existing shopping center at NE 36th Street and N Lottie Avenue was recently approved for just over $2 million in performance-based Tax Increment Finance (TIF) assistance.
The 96,000 square foot property is a great example of a blighted area in need of redevelopment. To assist in the cost of redevelopment, funds from the Northeast Oklahoma City TIF district can be used in areas where development would not happen without the assistance of TIF.
Brown hopes to complete the property's redevelopment by November 2016.