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City officials will consider a developer’s request on Wednesday for $13 million in tax-increment financing to help rebuild South Shields Plaza into a mixed-use center anchored by a proposed new Target. If approved, the plan would bring roughly 300 market-rate apartments and what developers call the largest single investment along the I-240 corridor since Crossroads Mall opened in 1974—renewing a long-struggling retail strip south of downtown Oklahoma City.
What the proposal would do
The redevelopment, led by Zerby Properties, calls for an estimated $84.39 million in private investment to turn the current shopping center footprint into a combination of housing, restaurants and shops with a retail anchor. The company is asking the city to use a tax-increment financing, or TIF, district to help pay for roads, utilities and other infrastructure needed to support the new development.
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Under the draft agreement presented to city staff, the developer’s own property tax payments would seed the TIF. Those payments would be rebated to the developer on a sliding scale after construction:
- 85% of the ad valorem taxes returned in years 1–5
- 75% returned in years 6–10
- 30% returned in years 11–15
City paperwork states the money sought—about $13 million—would cover infrastructure for both the retail center and the apartment component. A representative for Zerby said the intent is to physically link living units with storefronts and dining options, creating a walkable node along the I-240 corridor.
Local context: a corridor in transition
South Shields Plaza has been in decline for years, with large portions already demolished. Historically the center hosted a Kmart, specialty retailers and a small movie theater; over time many tenants left or closed. Target shuttered its south Oklahoma City store in 2016, and that building has since been repurposed as an AutoZone parts facility.
Two national retailers—Harbor Freight and Burlington—would remain in the redeveloped center, according to planning documents. Neighbors and business leaders say the prospect of a new Target and additional amenities has generated notable excitement among southside residents.
Why this matters now: the proposed TIF district also covers nearby strategic parcels, including the former Crossroads Mall site and land tied to the OKC 577 industrial project, which means the approval could steer several concurrent redevelopment efforts across the southeast quadrant of the city.
Potential benefits and outstanding questions
City economic development staff point to previous uses of TIF for major downtown projects—the Skirvin Hilton, First National renovations and the Omni Hotel among them—as examples of how the tool can unlock private investment. Supporters say the South Shields plan could improve local streets, expand housing options and boost retail choices for an area that serves both residents and visitors to the nearby Blessed Stanley Rother Shrine.
At the same time, civic groups and some taxpayers often scrutinize TIF deals because they divert future tax revenue back to developers rather than immediately flowing to schools and other public services. City officials have framed this proposal as a targeted way to pay for infrastructure that would otherwise delay or block private investment.
- Estimated private investment: $84,390,000
- TIF requested: $13,000,000
- Residential units planned: ~300 market-rate apartments
- Retail anchor: proposed new Target store
- Key remaining tenants: Harbor Freight, Burlington
Voices from the neighborhood
Business and civic leaders on the south side say renewed retail and additional housing are long overdue. The president of the South Oklahoma City Chamber described strong local demand for more everyday shopping and services, and city economic staff noted that the TIF district’s boundaries were written to include several parcels where prior redevelopment plans have stalled.
The shrine honoring Blessed Stanley Rother—an important religious and tourist site visible from Interstate 35—was cited as one reason improved roads, hotels and restaurants could make economic sense for the area. Still, some community members will watch the fiscal details closely at the committee hearing to ensure public benefit matches the public cost.
City staff expect the council committee meeting on Wednesday to start the formal approval process for the new TIF. If the proposal advances, it would move through additional hearings before final votes and, if approved, into the permitting and construction phases.
For residents and nearby businesses, the decision will determine whether a long-empty commercial corridor gets a sustained investment push or remains a patchwork of piecemeal projects. Either outcome will shape the retail and housing landscape along I-240 for years to come.
