Santa Fe Square was designed to be more than a mixed-use development in downtown Tulsa, Oklahoma's east end. It also marked an attempt to spark revitalization of a surface parking lot and former railroad tracks — and the surrounding area — into a live-work-play destination.
The property at 521 E 2nd St. spans 4 acres, occupying two full city blocks between 1st and 2nd Streets, as well as Elgin and Greenwood Avenues in the city's Blue Dome District, with Santa Fe Crossing LLC serving as master developer. It includes a European-style plaza.
The project was selected by an outside group of judges for the CoStar Impact Awards as the 2024 winner for commercial development of the year in the Tulsa market.
"This development will reshape a previously under-utilized portion of downtown Tulsa for use by many generations to come," said Anne Perrault, a vice president at commercial real estate firm Northmarq and an awards judge.
The project is an example of how leasing in the past year was concentrated in the south-central, downtown and mid-town office hubs in major Oklahoma markets, capturing about 81% of all lease volume, according to a CoStar analysis. JP Morgan committed to 9,370 square feet at the property completed last year.
The space is essentially full, with sustainable power company Vital Energy and the Hall Estill law firm also taking space, while Hotel Indigo operates the hospitality site with more than 90 rooms. The project included more than 180 units of Class A apartments.
Santa Fe Crossings, in connection with American Parking, developed a parking garage with more than 700 spaces.
About the Project: CallisonRTKL in connection with Selser Schaefer led the architecture, planning and design of the development. Manhattan Construction served as the general contractor.
What the Judges Said: "Santa Fe Square is a landmark development for Tulsa and for Oklahoma. The partnerships that have formed to develop out the various components (hospitality, parking, multifamily, etc.) are remarkable. The development timeline has also spanned very volatile capital and economic environments," Northmarq's Perrault said.
UPDATED They Made it Happen: Scott Schlotfelt, managing director at Cushman & Wakefield, Commercial Oklahoma, represented the landlord. Matt Klimisch with Industrial Developers of Oklahoma, the developer and owner of the project.