RCL's Tuscana, previously called Village at Quail Springs, isplatted for 800,000 sf of retail and 320,000 sf of office andresidential development. Its anchor is an IMAX Theater.

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The Oklahoma City-based developer has completed much of theproject's horizontal development for the land, situated between Mayand Pennsylvania avenues and just north of Quail Springs Mall. Thedeveloper didn't return telephone calls by deadline to comment onthe project, but the marketing is being led by Hendricks &Partners' Tim McKay, senior investment adviser in OklahomaCity.

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McKay says local officials have created a flexible planned unitdevelopment for Tuscana's acreage. As a result, the size of landtracts dedicated for multifamily, retail or hospitality can bechanged to meet development demand. The existing master plan callsfor a garden-style apartment project capped at 300 units andadditional residential units as part of a mixed-use building.

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McKay tells GlobeSt.com that he just brought the acreage tomarket without an ask, but already is in negotiation with a coupleinterested parties. "The number of developers for this specifictype of product is limited, but we've had a lot of interest," hesays. The Hendricks' team includes Aaron Hargrove in Tulsa and JohnClayton in Little Rock.

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McKay points out projects with multifamily components aredesirable these days in Oklahoma City because of the region'sgrowth and its almost recession-proof energy industry. "Our economyand fundamentals are as strong, or stronger, than they've everbeen," he explains. "Occupancy is increasing, rents are increasingand the area is growing."

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Negotiations are still underway for a IMAX Theater and 13-screencinema, which had been scheduled to open in mid-2009. DickinsonTheatres Inc. of Overland Park, KS is the developer.

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