$38 million development being proposed across from BOK Center

[Renaissance]

Quite possible they have learned their lesson about disposing of land. 

[custosnox]

possible maybe, but that doesn't make it likely.

[Renaissance]

Well if they sell the lot for $250,000 less than a price they previously turned down, something has changed. 

[custosnox]

but your also assuming that the reason is that the city has learned their lesson.  How often does that actually happen?  honestly lol

[DowntownNow]

Depending on the funding source when TDA first purchased this property, TDA may be forced to sell it at it's "Fair Market Value" as deemed by a recent appraisal that would no doubt take into account its proximity to the BOKCenter. 

TDA can only lower the price from Fair Market Value if the development benefits low/moderate income housing and needs.  This is assuming they used CDBG funds to purchase.  If they used operational funds other than CDBG, TDA can sell at anything they want to, even taking a loss to encourage development.

Oil Capital is right though.  Prior to Jones Lang LaSalle's involvement in the process, the property had been offered at the $1.75 million.  JLL stepped in and marketed it at the $2.4.  TDA turned down 3 proposed projects including the one mentioned ealier that had all sorts of other requirements attached.

I will still stick by my original premise that if the CIty/TDA would "give" these properties to qualified, financially capable and proven developers as an incentive with contractural timelines, design criteria and specific use covered, it would go a long way to redeveloping this area of town.

What makes me skeptical is a development group that is wanting to spend $38 million but can't produce more than 10% or $150,000 of the proposed purchase price of $1.5 million.  I also doubt that this project will be done completely by private funds as it has been circulated recently that the City is about to provide more Vision2025 downtown housing funding that has been accumulated.  Mark my words, if this project moves forward, they will submit...be foolish not to.

[DowntownNow]

Its also interesting to note that One Development, LLC is not currently listed/registered on the Oklahoma Secretary of State website.  The TW could have done a better job and given everyone a lil more piece of mind that this will happen by giving a bit more on One Development.

[TheArtist]

[TheArtist]

You know... one thing I dont like about this website is all the empty space on the sides which scrunches the pics into the middle and cuts parts of them off. OTHER websites dont do this lol. 

[OUGrad05]

I hope the TDA doesn't give another developer the middle finger here, this project is really good...they've gotta start letting people develop this land or we'll get to the point where developers are turned off and will no longer spend money researching/designing projects for the area.


I hope it doesn't turn into section 8 house I work a couple blocks from there, but Tulsa needs an increased police presence downtown...that is for sure

Parking shouldn't be a problem, more multi level garages will eventually be built and where I park now there is plenty of space.

[Wilbur]

I love the idea.  Love the look.  And, depending on timeframe, may even consider moving into one of the lofts, but......

This line in the Tulsa World article concerns me:

"One Development also wants the authority to have the property "developer-ready" within a mutually agreeable time frame."

Isn't this more city hand out?  Is the city going to, all of a sudden, find money?  Is not the TDA a city authority?

[sgrizzle]

I love the idea.  Love the look.  And, depending on timeframe, may even consider moving into one of the lofts, but......

This line in the Tulsa World article concerns me:

"One Development also wants the authority to have the property "developer-ready" within a mutually agreeable time frame."

Isn't this more city hand out?  Is the city going to, all of a sudden, find money?  Is not the TDA a city authority?

TDA is a state authority.

And they don't want TDA to just sit and think about it for months. The TDA property is just a surface parking lot so they don't have to improve it to sell it.

[cannon_fodder]

Its also interesting to note that One Development, LLC is not currently listed/registered on the Oklahoma Secretary of State website.  The TW could have done a better job and given everyone a lil more piece of mind that this will happen by giving a bit more on One Development.

Perhaps they just got the name wrong?

ONE DEVELOPERS, LLC     Domestic Limited Liability Company      Legal
(RA) Registered Agent:    O''CONNOR JOHN M
15 W 6TH ST STE 2700
TULSA, OK 74119
(RA) Effective Date:    9/5/2008

Filing number: 3512202874   (if you want more information, I didn't want to bother paying the access fee)

also:
4712201034         ONE DEVELOPERS     Name Reservation      Legal

[FOTD]

Those crayola drawings, renderings, can be deceptive. Hope so. Sitting next to that Silver spaceship with brown streaks, downtown is losing it's consistent look. And let's not lose unsightliness of the old city hall plaza....

[TheArtist]

I like the mixture of contemporary and classic brick. Though would like to see a bit more contemporary mixed in. I do, of course, like the deco touches on the hotel.

My one thought would be that the courtyard area looks heavy, monotonous and depressing, especially in that first rendering of it above. The other side of the inside courtyard may have more character and interest, but it would be quite boring sitting at a restaurant say, and looking out at that residential side. Change it up a bit, add an interesting detail or two.  make that middle section over the arch higher and or put a simple clock tower there,( classical or contemporary, they actually show 2 different designs, one has a classic roofline, the other there is an added/contemporary floor)  to give a neat focal point on that side. 

[DowntownNow]

Cannon_fodder...you were correct, TW got the name wrong, went back to the TDA agendas and found it.  Thanks.

Grizzle...The City Attorney issued a press release sometime back that identified the TDA as a City created authority, with the City as its sole beneficiary BUT created under state laws...therefore they reasoned that only state laws should apply to it.  Not sure I agree with that reasoning since any municipality can create an urban renewal authority to address what the municipality itself determines to be blight.  If the municipality identifies a plan and charges the urban renewal authority with implenting that plan to the benefit of the municipality then the municipality should have some oversight that the urban renewal authority is doing what it is supposed to.

Or you have simply provided for the creation, funding and autonomy of a quasi-governmental authority beholden to no one that also has the right of eminent domain at their disposal.

Whats funny is, no one has ever asked the State's Attorney General the question whether the TDA, even though created under state law, is subject to rules, regulations, ordinances and such passed by a municipality that do not directly interfere with the performance of its duties under state law?

The way I have read the statute would indicate that a municipality can make certain laws and ordinances that the authority must adhere to unless those laws and ordinances directly impact the function and the way in which an urban renewal authority must operate to accomplish its goals.

yes, this is a side note...I hope TDA doesnt screw up development opportunities but this one needs to be scrutinized more IMO.