(Rhett Morgan at Tulsa World) Cherry Street, a longtime target of developer Duane Phillips, is in his crosshairs again.
Owner of Oak Properties LLC, Phillips has announced a $9 million project called 1515 Cherry Street and The Lofts at 1515, a 28,000-square-foot development that will include retail, restaurants and apartments.
It marks Phillips’ fourth development on Cherry Street, pushing his investment in the area to about $35 million. Groundbreaking is scheduled for 1 p.m. Tuesday, and the development could be completed by next fall.
“You don’t get to do a lot of projects that have just that ‘cool’ factor,” Phillips said by phone. “It’s just one of special buildings that when we get it out of the ground, it’s going to look pretty cool.”
Phillips started the project in April, purchasing three adjacent buildings on Cherry Street, just west of St. Louis Avenue. All of the buildings will be razed except the former La Madeleine restaurant, which will be renovated and become the new home of luxury jeweler Bruce G. Weber. The store is relocating from its longtime venue in Utica Square.
Bruce G. Weber will feature an expanded selection of Rolex products. Store 5a, an upscale, preowned jewelry concept by the owners of Weber, will occupy the first floor of a new four-story building along with CycleBar, a premium indoor cycling studio.
Oklahoma City-based Provision Concepts is making its first entry into the Tulsa market with Sidecar on the building’s rooftop. The four-season barley and wine bar will feature small plates, premium drinks and live music.
Roosevelt’s, the nearby gastro pub, plans to open Cherry Street’s first speakeasy in the new building’s basement. The project also will include 15 loft apartments with downtown views, balconies and designated parking. Loft sizes will range from 625 to 800 square feet.
“We are 100 percent pre-leased with our commercial space, which shows there’s still a lot of demand in this district for Class A structures,” Phillips said in a statement. “It was important for us to bring more character and diversity to the Cherry Street District.” Read more on Tulsa World.