Another East Village Proposal

[SXSW]

New group puts forth plan for East Village



An ambitious redevelopment proposal for the east side of downtown is in the works.

Local developers behind the project — called Talaas, a derivative of the Creek Indian word for Tulsa — say they believe the estimated $400 million, mixed-use redevelopment could become another critical link in the efforts to revitalize downtown.

Talaas would encompass about 49 acres bounded by U.S. 75 to the east, the Blue Dome District to the west, Sixth Street to the south, and the Greenwood District to the north.

It's not the first large mixed-use redevelopment proposed for the area commonly known as the East Village, but those who are familiar with Talaas say it has the potential to be the one that sticks.

"Tulsans have invested a lot in the downtown area with the BOK Center and ONEOK Field, along with what is going on in the Brady and Blue Dome districts, and we believe this would be the connectivity that further ties everything together," said Chuck Tollefsen, the founder of Formaation LLC, which conceived Talaas.

Formaation is teaming up with Matrix Architects and Flintco Construction, two local firms that were involved with the BOK Center, and Gensler, a global architecture, design, planning and consulting firm with its headquarters in San Francisco.

Although a range of affordable to luxury residential lofts and brownstones would dominate Talaas, other elements proposed within it include office and retail space, a boutique hotel, a grocery market fed by local gardens, a small entertainment area and meandering green space.

Another proposed feature is a streetcar that would stretch along Second Street, linking Talaas to the BOK Center.

Although city approval would be needed for installation of the needed rails, the developers would pay the estimated $7 million cost, and the streetcar would be free to ride.

Site competition
Before Formaation can proceed, it needs to acquire all of the land it wants for the project, including several parcels owned by the Tulsa Development Authority.

Formaation isn't the only group interested in the authority's properties, which include a large parcel where the vacant Hartford Building sits at Second Street and Greenwood Avenue, along with parking areas to the east and north.

There also are two smaller vacant areas to the south — one directly across the street between Second and Third streets, and the other at Third Street and Frankfort Avenue.

The Ross Group, a general contractor, wants to purchase and reconstruct the Hartford Building as a certified "green" 60,000-square-foot building that would house 100 employees.

Land Legacy, a nonprofit organization, wants the authority's two smaller vacant sites south of Second Street for an urban park.

The three entities are to present their plans to the authority Thursday.

Tollefsen said that if the authority chooses Talaas, he would encourage Ross Group and Land Legacy to participate in it.

The Ross Group declined comment, but Land Legacy Executive Director Robert Gregory said his group was very interested in working with Formaation to accomplish his group's goal of providing urban parks.

A master-plan approach:
Tollefsen said Talaas was the only one of the prospects that offers a design scheme for the entire redevelopment area.

County Commissioner Karen Keith, who is spearheading an effort for a new $50 million juvenile justice center campus on the west side of downtown, said she was excited about Talaas.

"My hope is that the authority considers a master-plan approach to the redevelopment of that area, versus just piece-mealing it together," she said.

Keith believes that Talaas brings "the real ability to make this happen in a cohesive manner that creates this wonderful urban neighborhood," she said.

Creative financing:
Tollefsen said funding for Talaas would not take the typical path in which the developer attempts to finance the full $400 million.

Instead, the group will finance the project in pieces, using federal incentives to lower costs, he said.

"I'm very familiar and have been successful for the past 25 years in obtaining these government-backed loans," he said.

Some of the incentives can cut costs by 25 percent for commercial structures, he said.

When the 60 percent reduction in energy costs is added, "it makes good economic sense" for investors, he said.

Formaation also would seek tax increment financing for seven years to start the project. Downtown TIFs have historically run for 15 years.

A TIF district allows a city to capture increased tax revenues from the district to fund public improvements to enhance reinvestment and spur redevelopment in the district.

"Our success is going to come from our ability to lower cost by blending these traditional federal government financing programs with the uniqueness of this urban development," Tollefsen said.

Something for everyone:
Although Talaas will have some residential and commercial space for lease, the rest of the project will encourage ownership, Tollefsen said.

He stressed that it would have lofts, with affordable rents that would cater to students and service workers, and higher-end brownstones, for purchase by professionals and empty-nesters, who no longer want to have to maintain a home and a yard.

The project also incorporates parking, Tollefsen said. Subsurface parking is planned for office and residential space, with street parking for easy access to retail space.

Tollefsen said the project also was designed to attract small businesses that would like to own their property, while leaving room for larger commercial and entertainment venues.

"Basically, we have the master plan and design elements of how the pieces fit together," he said.

"We act as the catalyst, and it's Tulsa business owners and residents that pull it together."

http://www.tulsaworld.com/news/article.aspx?subjectid=334&articleid=20100502_11_A1_Anaeri342302

[TheArtist]

Will be interesting to see the plans they present on Thursday.  At this point though I am highly cautious of getting any hopes up for yet another plan/proposal lol.  I will believe it when I see it.  SOMETHING will stick in this area eventually.  I think people do realize the potential of the area and the demographic needs for some type of really good urban development.  Its interesting to note that a number of the residential developments that have gone up in Brookside and Cherry street, have struggled to find buyers at times.  But whenever something opens up in downtown, it does quite well.  I think there is a large desire to live in downtown, and a lot of people can see the potential for downtown to become a wonderful place.

Oh, and the rail component sounds really neat. 

[SXSW]

The development group, Formaation LLC, is located in this building at 3rd & Kenosha:


The fact that Matrix, Flintco, and Gensler are involved give me hope this has the potential to actually happen. 

[spartanokc]

When I look at the successes and failures of DT Tulsa development..one thing that strikes me is the relatively strong success Tulsa has had with smaller projects, especially as the economy turned "dark and mysterious" it seems. There are so many private development projects going on right now in Brady, Blue Dome, East Village, etc. Then you look at the track record with large projects, and save for One Place which looks hopeful, there had really not been a single major private development that was successful. That's the reality.

If I were TDA, looking at that track record, looking at Formaation's lack of financing.. I would go with the two smaller proposals. At least you get something out of it. Give Formaation a time-limited option for the rest of the land just to make things interesting and give them a chance. They can form their project site plan around Land Legacy's proposal for a park and Ross' concrete plans to redevelop a bldg.

It is very intriguing. I like it all, from the name, to what they're wanting to do, and I especially like the streetcar aspect. It seems like if you do SOME KIND of special transit link between your site and the BOK Center, you're guaranteed some success in the end. And yes, a private developer probably could get a lot of federal help for making a streetcar happen. That's called making it happen yourself, especially after Tulsa has been kicking around the idea of transit for a long time--to no avail. It sounds like he has the right argument for why his development should be successful with its innovative design and reduced energy costs, but history is just against it. Maybe the site is doomed. Piece-meal is much preferred over nothing, sorry Karen Keith.

With TDA involved, I expect something really bizarre and corrupt just around the corner..

[Townsend]

Anybody else long for the days when this kind of announcement would've produced three pages of hopeful comments on the Forum by now?

I feel like Artist does...believe it when I see it.

The article seems to hint that the TDA makes it tougher for everyone: 

Before Formaation can proceed, it needs to acquire all of the land it wants for the project, including several parcels owned by the Tulsa Development Authority.

I hope for success but I'll hold my huzzahs until there's more than just an announcement or even groundbreaking.

[Red Arrow]

Some rebuilt PCC cars would probably fit Tulsa nicely.  Airconditioned, new running gear, 1930s-1940s looks.

http://www.phillytrolley.org/pcc_2320_index.html

[TheArtist]

I would love to see some "old school" type rail transport, especially if they had some deco flair lol.  The ones OKC has proposed are uninspired and don't warrant a second glance. Tulsa can do better.

[Conan71]

I'm surprised no one jumped on to crap all over the tif financing and federal breaks.  Oh I forgot our most knowledgeable real estate expert has been permanently exported from this forum.

Seriously, I like the proposal and if Flintco is in on this it lends major creds to the project.  I think the momentum is there with downtown, I just posted the news of yet one more retailer moving downtown.  An East Village will be a nice tie in from Blue Dome to Greenwood Dist. 

I have to say I'm cautiously optimistic, but now that the ball park is open I think the vibe that only some people were feeling the last few years is becoming visually obvious.

Downtown is back!

[jtcrissup]

Anybody else long for the days when this kind of announcement would've produced three pages of hopeful comments on the Forum by now?

Yes, I was wondering why this didn't have more buzz around it on the forum...it has great potential.  Although, as my HS coach used to say "Potential is just a fancy word for hasn't done anything yet".  I think this is why there is less buzz...we have seen so many grand plans/schemes this one is pretty much run of the mill, so why get excited?

I do like the "Talaas" name, although I believe Waterboy would argue with the spelling/origin of the name of Tulsa.  He enlightened me on the rafting trip last year and I have already forgotten...but it had something to do with a combination of 2 Native American word for "caving in" (Tahl) and "riverbanks" (oosa)...or something.  Put em together = Tahl-oosa = Tulsa once it is "anglo-ized" (you get the idea).  Speak up Waterboy and correct me...I found that very intresting (so interesting I remeber bits and pieces only...).

Would love to see this development happen, but won't get real excited until ground breaks, or they have some serious momentum/drawings/timetables showing their hand a little more.  Maybe this comes on Thursday?

Until then, I will continue to hit at least 1 Driller's game per homestand, eat a Chicago Dog and Drink a Marshall's at each game I attend, and try and stop in at one of the bars/restaurants after the game to enjoy our downtown that is ALREADY pretty cool.  Not a big commitment (once every 2 weeks or so), but always a lot of fun and I hope others in Tulsa (even the negative nancies) give the park and downtown a try.  I think the Bedlam Game is going to pretty awesome, and I look forward to seeing fans hang out all over downtown after the game vs hop in their cars and drive home immediately after the game (which is what always happened at the old ballpark).

[custosnox]

I would argue the name as well, since until I am shown the way to actual documantation I consider it all speculation.

I hope this does take off, but I don't think I'm going to really comment much more until more movement happens.  That and I have time to actually read all of it and really think on it. 

[Renaissance]

Anybody else long for the days when this kind of announcement would've produced three pages of hopeful comments on the Forum by now?

I feel like Artist does...believe it when I see it.

The article seems to hint that the TDA makes it tougher for everyone: 
I hope for success but I'll hold my huzzahs until there's more than just an announcement or even groundbreaking.

This is exactly right.  I think everyone is used to these things being nothing more than pretty drawings--it's harder to get excited now.

Still, it's worth figuring out who the folks pushing this thing are.  The principal appears to be this Chuck Tollefsen follow: http://www.formaation.com/Formaation/Home.html.  

Looks like he has already engaged the commenters in the TW forum (scroll down): http://www.tulsaworld.com/news/article.aspx?subjectid=334&articleid=20100502_11_A1_Anaeri342302&archive=yes

Here's an image from his website representing a "sneak peak [sic] of one of the cool areas of a masterplanned development soon to come":



Thursday is going to be a very interesting day for Tulsa.  Tollefsen's group along with Ross Group and Land Legacy will be going in front of the TDA and we'll get a clearer picture of what the East Village might look like.  In addition, on the other end of downtown, City Council will vote on whether to sell City Hall/Civic Plaza to the Snyders.  

Getcha popcorn ready . . .

[Conan71]

Council needs to "sell" and TDA needs to get it's head out of it's donkey.

[SXSW]

Whatever happens I hope it's an extension of what is already occuring in the east end around 3rd & Kenosha.  It feels very organic and hope it stays that way.  Some pics..

Formaation's offices


3rd & Kenosha







New office for a local architecture firm


KSDG/Micha Alexander's loft proposal


for this vacant lot between the two buildings at 3rd & Kenosha


And another proposal across the street (I think)

[godboko71]

Local area photographers will be upset if the one empty lot is filled between the two buildings as they use that for wedding and senior pictures. Not that it really matters Iw ould rather see the land put to use more then a few times a week :-P

[Renaissance]

Cool deal.  These are local folks with local roots.  There are two barriers to their plans: TDA and financing.  Both are formidable.  Probably gonna be a long process, unless somebody knocks some heads (figuratively) over at TDA.  Anyway, looking forward to more details.  The idea of a 3/4 mile free street car line on 2nd street is pretty awesome and makes tons of sense.