Mar. 26—City councilors will consider a real estate deal on Monday that would pave the way for construction of a drive-through restaurant between Murphy USA and Chick-fil-A along West Shawnee Bypass.
City administrators secured a sales contract nearly a year ago with Plaza Street Partners LLC for the tract, which fetched $9.62 a square foot. A title opinion issued by the Prairie Village, Kansas-based company requires a zoning confirmation letter, which was prepared this week, and a resolution authorizing the preparation of the remaining sales-related documents.
City councilors will take up that matter Monday.
Economic Development Director Leon Davis said he believes the city has done everything it needs to do to complete the transaction. He said an earlier issue involving the Oklahoma Department of Transportation that clouded the title has been resolved.
“They started that due diligence process, and then they paused until everything was satisfied with ODOT,” Davis said. “Now that they are wrapping up their due diligence, and after we close they will be building two restaurants.”
Davis said the first restaurant will be a Schlotzsky’s, a fast-casual franchise that opened as a sandwich shop on South Congress Avenue in Austin, Texas. The home of The Original is known for its sourdough buns, has more than 320 restaurants in 24 states.
Plaza Street Partner has yet to announce the identity of the second company planning to locate on the parcel.
Assistant City Attorney Katrina Bodenhamer said while confirmation of zoning has been prepared and submitted and the resolution authorizing the execution of other documentation is ready, a closing date has yet to be set.
Davis said he expects other projects will be coming together in the near future.
“I have got a couple more opportunities on the horizon, and I’m trying to help one of the developers lock in some property,” Davis said. “I have another developer I am working with who wants to do a mixed-use development along Shawnee that would have some restaurants and some nice apartments — very much market-rate apartments — and some retail.”
Davis said he was unable to provide details about those other projects, but he hopes to make some announcements soon.
“It takes a little time to get all those ducks in row when you are dealing with real estate,” Davis said. “But I’m excited about it.”