Bixby: Convention Center/Hotel

[OKC_Shane]

Developer plans to build hotel, convention center in Bixby
By Ja'Rena Lunsford
Business Writer- The Oklahoman

Regal Plaza project cost estimated at $50 million with two-year schedule.
BIXBY - Bixby soon will get its first hotel within city limits along with a 165,000-square-foot convention center.

Developer Tim Remy, owner of Home Ventures Inc., is developing Regal Plaza, a $50 million project at 105 Street and Memorial that will include a 102-room Hampton Inn and Suites hotel and a 4,000-seat convention center equipped with restaurants retail operations.

Groundbreaking is scheduled for August or September, and construction will take about two years.

Remy said the convention center will have 23,000 square feet of retail space and 30,000 square feet of office suites. Regal Plaza will be able to accommodate sporting events, conventions and trade shows, Remy said.

"I want the building to be totally versatile to all kinds of events," Remy said.

Bixby City Manager Micky Webb said the convention center will be the state's only privately owned and operated convention center.

"We've wanted an events center for a long time, but we wanted to do it with the private sector," Webb said. He said the privately owned status allows the city to not be financially drained.

The city of Bixby is providing less than $100,000 in utility relocation, and a rebate of 1 cent for every sales tax dollar the project brings in, for up to 10 years. The city will not pay more than $5.5 million, Webb said.

"If it goes bust, that's all we would have paid," he said.

John Gaberino, president and chief executive officer of the Tulsa Metro Chamber, is not worried about the project going bust.

"I think the developer will see a return on his investment," Gaberino said, and he believes the project will improve Bixby's economy.

"This is the opportunity to bring economic development to an area that has been underserved," Gaberino said.

He likened the development to the Jenks' RiverWalk Crossing, a restaurant, shopping and entertainment district along the Arkansas River.

Remy said he already has a list of 20 businesses that are interested in coming to Regal Plaza.

"That tells us that we have a great product in the right area," Remy said.