Edmond's Stephenson Park will change with proposed development
EDMOND — Fifth Street Partners are proposing to build around 100,000 square feet of retail, restaurant, multifamily and office space near Edmond's Stephenson Park.
The five phases of the development are projected to cost just under $20 million, said Casey Massegee, one of the developers.
"After our initial purchase of Hideaway Pizza and Parkway Cleaners building in 2015, we slowly started acquiring surrounding parcels that we felt gave us a large enough footprint around the area to capitalize on our vision of a micro-mixed use development," Massegee said. "We feel like the potential of the area is very unique and already has many of the catalysts in place to support such a development."
Massegee, Chris Anderson, of Edmond, and Jeff Johnson, of Oklahoma City, make up the Fifth Street Partners.
All five projects won't happen at once, Massegee said.
Work on the first project, called Park17, on the northwest corner of Fifth Street and Littler Avenue, is expected to get started by this fall.
Park17 will have retail and restaurant space on the first floor with two levels of upscale urban apartments.
"The multifamily apartments will be high-end," Massegee said. "We are looking at young professionals."
This project, expected to cost $3 million, was approved by city council members in January.
The second project will be 12 townhomes on the southwest corner of Third Street and Littler Avenue, behind Sprouts Farmers Market.
"We want people looking to move to the area to have multiple living options," Massegee said.
The project, called the Towns at Stephenson Park, has not been presented to the Central Edmond Urban Board yet, the first step in city approval for developments, said City Planner Jan Ramseyer-Fees
The third and fourth projects will be on the northeast and southeast corners of Fifth Street and Broadway.
Plans here are two multistory buildings, one will be about 5,000 square feet and the other will be about 7,000 square feet.
"While not set in stone, these also will be mixed use with retail-type space on the first level with offices on the second level," Massegee said.
City council members in January approved rezoning the open display commercial to a Central Business District. They also agreed to amend the city's zoning plan to allow for a Tucker's Onion Burgers on the northeast corner of Fifth Street and Broadway.
"Tuckers is on hold for now," Massegee said. "They have other projects at this time."
The final project will be on the northwest corner of Fourth Street and Boulevard. This will be the biggest of the projects, a three-story building about 30,000 square feet.
This is the former location of the Lighthouse Lutheran Church. Plans are to tear down the building.
Developers plan to construct a building similar to Park 17, except slightly larger with retail and restaurant space on the first level with two levels of upscale urban apartments above.
"We have already purchased all of the land," Massegee said. "We saw a lot of potential in the area with the Jazz Lab and the city park. It is a walkable community."
Restaurants and retail businesses that will locate in the area are not known at this time.
"As we start to scout potential tenants, it's our intention to bring tenants to the area that are complementary to each other and also that appeal to different customer bases and different time frames throughout the day," Massegee said.
At the same time, Edmond city officials have plans to come up with a master plan on Stephenson Park during the next fiscal year.
"There are some available funds the next few years for improvements, but as we complete the study we will have a better idea on what will work best in this setting and some estimated costs," said Parks Director Craig Dishman.
The public about six years ago presented a plan to improve Stephenson Park.
"We haven't heard much the past few years about the private interest," Dishman said. "I am sure some of it is due to the blues and jazz festival is no longer in existence. But of course, we would always listen to any ideas."
Edmond Jazz and Blues, held in Stephenson Park, ended operation in May 2015. It was canceled in 2014 because of bad weather and in 2013 because of the May 19, 2013, tornado in Moore.
Plans were presented to the council in August 2011 from friends of Steven Farley, a U.S. State Department worker killed in Iraq in 2008, who wanted to improve Stephenson Park to include a pavilion and stage area that would have cost more than $1 million.
Supporters want the pavilion named in Farley's honor. Lance Benham, president and chief executive officer of Benham Cos., donated architectural services to come up with sketches for the improvements at the park.
City officials at the time said they had between $200,000 and $300,000 in the park fund for improvements at Stephenson Park.
As for future years around Stephenson Park, Edmond officials plan to continue to add Streetscape parking when new development occurs in the area, said Assistant City Manager Steve Commons.