http://www.tulsadevelopmentauthority.org/wp-content/uploads/2015/10/6258-A-8-4-2016-Mayfield-LLC-Redev.-Agreement.pdf
It looks like the Hanson brothers have bought or are buying the LA King property just north of the Prairie Brewpub. The agreement with the TDA for a low-interest loan says it'll be a mixed use development. The loan has a six year term so hopefully they'll feel some pressure to develop quickly - I imagine the amortization schedule on a six year loan is pretty punishing.
Anyway, that's more awesome news if it actually happens. If something is ever built on the Davenport Lofts site we'll have a continuous Main Street again all the way from the IDL to the railroad.... pretty sweet and hard to imagine just 5 years ago.
Good find. Very cool.
Looking forward to hearing more about this project, especially the brewery aspect.
http://m.newson6.com/Story.aspx?story=33280360&catId=112042 (http://m.newson6.com/Story.aspx?story=33280360&catId=112042)
Quote from: SXSW on September 29, 2016, 01:37:22 PM
Looking forward to hearing more about this project, especially the brewery aspect.
http://m.newson6.com/Story.aspx?story=33280360&catId=112042 (http://m.newson6.com/Story.aspx?story=33280360&catId=112042)
We're gonna have a whole brewery district!
Quote from: Tulsasaurus Rex on September 29, 2016, 03:10:53 PM
We're gonna have a whole brewery district!
The Brady Arts and Brews District
Quote from: swake on September 29, 2016, 03:18:00 PM
The Brady Arts and Brews District
(http://kotv.images.worldnow.com/images/23429772_BG3.jpg)
Quote from: SXSW on September 29, 2016, 01:37:22 PM
Looking forward to hearing more about this project, especially the brewery aspect.
http://m.newson6.com/Story.aspx?story=33280360&catId=112042 (http://m.newson6.com/Story.aspx?story=33280360&catId=112042)
More good news for the Brady District!
Will help to eliminate the gap between Cains and the rest of the Brady on Main.
Quote
Development authority apparently giving Hanson group low-interest loan for Brady District development
A low-interest $2M loan for a brewery and more has multiple privacy stipulations
The Hanson brothers are apparently involved in the redevelopment of a Brady Arts District building, proposed to include a brewery, studio, retail and office space, according to Tulsa Development Authority documents.
The deal involves multiple privacy stipulations, binding the authority from immediately sharing details of the project despite the use of public funds, according to documents on the authority's website.
In a redevelopment agreement, the TDA agreed in August to give a low-interest $2 million loan to Mayfield LLC, the listed developer, to go toward purchase of the LA King building property, 320 N. Boston Ave.
A resolution approving the agreement was signed Aug. 4, according to TDA documents.
O.C. Walker, executive director of the TDA, said the development agreement is with Mayfield LLC.
"In essence, what we're talking about doing is a $2 million loan over six years with 2.5 percent interest," Walker said. "It's a really low-interest loan to facilitate development."
Walker said the details of the project came out of proposals previously heard by the authority, but he directed further questions to Walker Hanson, father of the trio of musical brothers.
The redevelopment agreement stipulates that Walker Hanson is the contact for any inquiries regarding the development.
The group put out a statement in response to questions about the development Thursday.
"We have always been invested in Tulsa, and it continues to be our goal to bring attention and commerce to the city," the statement says. "We're excited to further our development efforts. Next year is Hanson's 25th anniversary, and we look forward to a world tour, releasing new music, and the continued expansion of our beer business."
Walker Hanson did not return requests for comment, and a person who answered the phone at his provided number said he had no further comment.
An unsigned redevelopment agreement available on the TDA website, apparently the document referenced in an approved August resolution adopting the agreement, has several privacy clauses.
According to the agreement document, TDA is barred from disclosing any information from the developer's proposal to third parties.
"TDA shall ... not disclose any such information to any third party without developer's prior written consent," according to the document. "In the event the TDA becomes legally compelled ... pursuant to the requirements of the Oklahoma Open Records Act ... TDA agrees that prior to such disclosure it will provide the developer with advance written notice and a copy of the documents and information relevant to such legal action so that the developer may seek a protective order ... to protect its interests."
The redevelopment agreement, attached to the approved resolution, references the proposal "presented by the developer to the TDA on March 10, 2016 and March 24, 2016."
Walker declined to discuss when the proposals were made, offering that the project has "been on several agendas. There's a good chance it will be on the Oct. 6 agenda," the date of the group's next monthly meeting.
However, neither the city's website nor the development authority's website lists agendas or minutes for March 10 or March 24.
Walker did not respond to follow-up calls or an email Wednesday afternoon requesting information about the nature of the referenced proposal meetings or whether a quorum of authority members was present. Without a properly posted agenda, a quorum of a board, commission or authority, such as the Tulsa Development Authority, cannot legally meet to discuss public business under the Oklahoma Open Meetings Act.
http://www.tulsaworld.com/news/government/development-authority-apparently-giving-hanson-group-low-interest-loan-for/article_7777034c-9a33-54cb-ace4-77704efe972b.html (http://www.tulsaworld.com/news/government/development-authority-apparently-giving-hanson-group-low-interest-loan-for/article_7777034c-9a33-54cb-ace4-77704efe972b.html)
What could it mean by "developer may seek a protective order ... to protect its interests"?
Protective order against whom? Or is this standard legalese for this sort of project they want to keep on the down low? The TW article makes it sound like the privacy stipulations are unique.
At Hop Jam, the Hanson Bros Brewery setup was as professional as any real brewery and they had many new beers and logos for each. Based on that, it looked like they planned to expand and make it into a real full-time brewery at some point. They also added a mural on their current space in the Fox Hotel building alley which had a beer theme. Whatever they have planned, I bet it will be neat!
Quote from: SXSW on September 29, 2016, 01:37:22 PM
Looking forward to hearing more about this project, especially the brewery aspect.
http://m.newson6.com/Story.aspx?story=33280360&catId=112042 (http://m.newson6.com/Story.aspx?story=33280360&catId=112042)
They made a post yesterday claiming they had the story first. Weird, pretty sure Tulsa Now beat them by a few days.
Quote from: davideinstein on September 30, 2016, 04:36:30 PM
They made a post yesterday claiming they had the story first. Weird, pretty sure Tulsa Now beat them by a few days.
Also, wasn't it posted in August and "discovered" just this week on TulsaNow? Or am I wrong?
Quote from: cbs on September 30, 2016, 07:25:36 PM
Also, wasn't it posted in August and "discovered" just this week on TulsaNow? Or am I wrong?
Not sure on August. I called them out on journalistic integrity though.
The World sounds pissed they didn't get the exclusive and then didn't get called back for comments. Their decline continues.
Quote from: swake on September 30, 2016, 09:35:19 PM
The World sounds pissed they didn't get the exclusive and then didn't get called back for comments. Their decline continues.
KOTV is way worse than the Tulsa World.
I'm still tickled about the use of 'apparently' in the TW headline. :D
Update:
Tulsa Development Authority grants extension for Hanson family redevelopment project in Arts DistrictQuoteThursday's action extends deadlines in the second amendment of the agreement, moving the initial design and planning phase of the project from Dec. 31, 2019, to June, 30, 2020, and the commencement of construction from July 1, 2020, to Jan. 1, 2021. The second amendment became effective March 7.
https://www.tulsaworld.com/business/tulsa-development-authority-grants-extension-for-hanson-family-redevelopment-project/article_cc0f9fd4-e17a-5835-9e50-b9784e30bbaf.html#tncms-source=infinity-scroll-summary-siderail-latest (https://www.tulsaworld.com/business/tulsa-development-authority-grants-extension-for-hanson-family-redevelopment-project/article_cc0f9fd4-e17a-5835-9e50-b9784e30bbaf.html#tncms-source=infinity-scroll-summary-siderail-latest)
The planning for this started around 2015. 4 years later and it looks like it might not start til late 2020. Such a great spot and a crucial spot for making the Arts District a vibrant walkable community.
I'm okay with this, I think they have the vision and capital to make this work. That is interesting about Davenport Lofts..
So I'm poking around on Loopnet and see that the parking lot south of the Brady Theater ("Block 39") is for sale: https://images1.loopnet.com/d2/CH0f3Brz4md8qPHQMc90nDpB_POi38vR7m7XoZ1H9uY/Block%2039%20Lot%20Flyer.pdf.
I wonder, who's selling? Turns out the current owner is Mayfield LLC. Sound familiar? That's the Hanson family entity that was supposed to develop the LA King property. But according to the Tulsa County Assessor, Mayfield LLC no longer owns LA King (320 N. Boston). On January 9, 2020, Mayfield LLC sold that property to WRT Realty and simultaneously took ownership of Block 39 in a transaction that looks like a land swap with cash component.
What's interesting to me is that Mayfield still owes $2,000,000 to the TDA. This note is due in full on its maturity date of 10/4/2022. There has been no public acknowledgment of the WRT land swap in the TDA minutes. I assume (hope?) the TDA is aware of the activity and is waiting to see what comes... but who knows.
Anyway, if you want to buy a full city block of Arts District parking, Hanson has one for sale. But they don't have the LA King site anymore.
Maybe they will just takeover the old Prairie brewery space? Both the parking lot and LA King are great development sites
Quote from: Tulsan on October 06, 2021, 09:48:48 AM
So I'm poking around on Loopnet and see that the parking lot south of the Brady Theater ("Block 39") is for sale: https://images1.loopnet.com/d2/CH0f3Brz4md8qPHQMc90nDpB_POi38vR7m7XoZ1H9uY/Block%2039%20Lot%20Flyer.pdf.
I wonder, who's selling? Turns out the current owner is Mayfield LLC. Sound familiar? That's the Hanson family entity that was supposed to develop the LA King property. But according to the Tulsa County Assessor, Mayfield LLC no longer owns LA King (320 N. Boston). On January 9, 2020, Mayfield LLC sold that property to WRT Realty and simultaneously took ownership of Block 39 in a transaction that looks like a land swap with cash component.
What's interesting to me is that Mayfield still owes $2,000,000 to the TDA. This note is due in full on its maturity date of 10/4/2022. There has been no public acknowledgment of the WRT land swap in the TDA minutes. I assume (hope?) the TDA is aware of the activity and is waiting to see what comes... but who knows.
Anyway, if you want to buy a full city block of Arts District parking, Hanson has one for sale. But they don't have the LA King site anymore.
Interesting, I had noticed the lot for sale - it's pretty pricy on a per sq ft amount but there's a lot of potential with that site, would love to see Holberton expand north on to that lot and include some housing component with ground floor retail space.
Do you know what the $2,000,000 they owe to TDA is for? Wasn't there some sort of development agreement between them and the city too for other funds for the LA King site?
That's unfortunate. I was looking forward to them getting something off the ground now that Davenport is wrapping up. The covid upheaval plus the long wait to get something off the ground must have killed their momentum. I'm not sure how much weight the Hanson brand is carrying anymore.
Would love to see a big mixed use take over the parking lot, but with the others that are currently under construction it will certainly be a bit before the market needs another big new building.