A stretch of north Tulsa that developers describe as long overlooked could become one of the biggest construction sites on that side of town.
Peak at Parkway, a $200 million mixed-use project, would cover 40 acres east of Tisdale Parkway between Apache and Pine streets. According to the Tulsa Flyer and The Oklahoma Eagle, the plan includes a medical facility, apartments and co-working space, built out over the next several years.
The Tulsa Planning Commission approved the project's tax increment financing plan at its Oct. 7 meeting, finding it in line with the city's comprehensive plan. The next stop is the Tulsa City Council, which has to approve the districts before they take effect.
"The interest of this area has really gone up as this area has fought for development for a long time," said William Tisdale, who is developing the project with his son, Deuce, through their company, Twenty20 Management.
Three phases, about 700 homes
The Tisdales have been working on the project for nearly two years. It started out as an 18,000-square-foot idea and has since grown to 60,000 square feet of planned space.
The first phase would feature a medical facility of more than 30,000 square feet, along with a town hall, farmers market, eyewear provider, co-working space and food service. Tisdale said the medical side is meant to bring primary care, along with mental and behavioral health services, so people don't have to be sent all over town.
The second phase would be duplexes and quadplexes for people earning up to 80% of the area's median income. After that would come market-rate homes aimed at smaller households looking to downsize. The developers told the Flyer the project will have about 700 residential units when it's done. The city's staff report on the plan lays out housing by district, including about 42 duplex and quadplex units in one district and roughly 240 or more multifamily units in the last district to be built, so final counts are likely to shift as the project moves along.
Tisdale said they've spent about $2 million so far and were about a month away from getting city approval of the infrastructure development plan.
How the money works
According to the city's staff report, the plan sets up four increment districts with about $86.3 million in project costs: $28.775 million for public improvements and infrastructure and $57.5 million in development financing assistance. It estimates the districts will bring in about $105.2 million in new tax revenue over their lifespan. Each district could run for up to 25 years after it's activated.
Tax increment financing takes part of the new tax revenue a project creates and puts it back into the area to pay for things like roads and utilities. The plan also includes revenue sharing with Tulsa Public Schools.
The Tisdales hope to break ground by the end of October, depending on council approval. If all goes to plan, the first phase would be done by the first quarter of 2028, and the whole project could take three to five years.
Why it matters for Contractors
A 40-acre site that's never been built on starts with the dirt. Grading, a large detention pond, streets, water, sewer and storm lines all come before vertical work, and the staff report says the first district's infrastructure will connect the project to the existing neighborhood. That's a real opportunity for site and utility contractors.
After that comes a medical building, commercial space, townhomes, duplexes, quadplexes and apartments. That's a mix of commercial and residential work that could keep a wide range of trades busy for years. No general contractor has been named publicly, and we aren't guessing at one.
Phased projects like this one also tend to hire in waves, so a contractor who misses the first round may still have a shot at later buildings. The council vote is the key date to watch. If the districts are approved and the infrastructure plan clears, bid packages for site work could follow soon after.
Peak at Parkway also joins a list of other north Tulsa projects, including Black Wall Street Square's townhomes, the Tulsa Housing Authority's 70 new units at The Landing at 36N and 10 new Habitat for Humanity homes. For contractors, north Tulsa is quickly becoming a place to watch.