Mixed-Use Hotel Development Coming to Brady Arts District

[TheLofts@120]

Here is the official press release...

News Release

MIXED-USE HOTEL DEVELOPMENT COMING TO BRADY ARTS DISTRICT

      Contact:      Jeff Hartman, 918-830-3757      For Immediate Release
                        July 21, 2010

Tulsa, OK - Local hotel developer SJS Hospitality, LLC, and land owner Brady 41, LLC, have entered into a joint venture (The Brady Hotel Center, LLC) to construct a ground-up mixed-use hotel development in the heart of the Brady Arts District.  The project will be located on a half block east of Main, between Archer and Brady.  This mixed-use development will provide downtown Tulsa with a 108-room select service, Marriott branded, Fairfield Inn & Suites hotel with approximately 11,500 SF of commercial space on the first floor.  Marriott awarded the joint venture a franchise agreement for the Fairfield Inn & Suites on June 11, 2010.  The development partners are currently selecting the architectural/engineering team and construction is projected to start in January, 2011.

SJS Hospitality, LLC, will develop and manage the hotel, with Brady 41, LLC leasing and managing the commercial space.  Cecilia Wilkins and Will Wilkins, of W3 Real Estate and 120 Development Group, LLC, brokered the development deal between all parties and are assisting with New Market Tax Credits and architectural/engineering service selection.  W3 Real Estate will broker the ground floor commercial space on behalf of Brady 41, LLC; seeking both local and national level retailers and restaurants. 

Founded in 2003, SJS Hospitality specializes in owning and operating premier hotel properties in the Tulsa area. Owners Spike Ehrhardt "S", Jeff Hartman "J" and Steve Ehrhardt "S" have created a hotel company that specializes in unique properties with warm, comfortable accommodations and friendly, welcoming staff.   SJS Hospitality recently completed the renovation/conversion of the historic Atlas Life Building, located in downtown Tulsa's business district, into its flagship 120-room Courtyard by Marriott.

The Brady Arts District's Fairfield Inn & Suites will launch SJS Hospitality Management, LLC, a full-service, third-party, management company

Brady 41, LLC is a joint partnership between Tulsans David P. Sharp and Gregory Oliphant and their respective interests.  The parties had previously formed a real estate investment company whose portfolio includes holdings in the Brady Arts District.  David P. Sharp also has invested, redeveloped, and retains holdings in the Central Business District, East Village, Blue Dome and Pearl Districts, among others.

Cecilia and Will Wilkins of W3 Real Estate and 120 Development Group, LLC, have been actively and successfully promoting downtown redevelopment over the last several years, brokering the sale and redevelopment of the Atlas Life Building between SJS Hospitality and Kanbar Properties, and most recently the Enterprise Building between David P. Sharp and Kanbar Properties. 

####

For further information, please contact:

Jeff Hartman, SJS Hospitality --  918-830-3757
Cecilia Wilkins, W3 Real Estate -- 918-902-8959
Will Wilkins, 120 Development Group, LLC -- 918-902-0760

[TheLofts@120]

And this afternoon's Tulsa World website teaser...article to be published in tomorrow's paper.

New downtown hotel also will include retail, restaurants

by: ROBERT EVATT World Staff Writer
Tuesday, July 20, 2010


The Atlas Life Building was just converted into a Courtyard by Marriott six weeks ago, but its owners are already planning another new downtown hotel.

SJS Hospitality intends to construct a $11.4 million, four-story Fairfield Inn & Suites in the heart of the Brady Arts District.

The hotel, which will feature 11,500 square feet of retail, restaurant and entertainment space on its first floor, will aim for a sweet spot between modest and upscale that isn't being served, said Jeff Hartman, head of SJS Hospitality.

"Downtown Tulsa doesn't have a true, limited-service hotel," he said.

Although rents at the Courtyard by Marriott start at $139 per night, Hartman said the new hotel will be aimed at the $99 to $109 range.

SJS Hospitality will lease land for the project along the east side of Main Street between Archer and Brady streets from Brady 41 LLC, a joint partnership between David P. Sharp and Gregory Oliphant, both Tulsans.

Construction should begin within six months and be finished a year later, Hartman said. Will Wilkins of W3 Real Estate, which brokered the lease and will control leasing on the first floor of the building, said the location should give visitors a new type of neighborhood for overnight stays.

"It's a unique opportunity," he said. "It's at a central point between the BOK Center and ONEOK Field. It also has a lot of nearby amenities like arts and crafts and restaurants."

The land is currently a parking lot west of Caz's Chowhouse and across Main Street from the Mexicali Border Cafe.

The hotel will be completely new construction with an attached parking lot, with none of its neighboring buildings affected, the developers said. Wilkins said the hotel will incorporate brickwork to help it blend with architecture in the area.

"This won't be your typical Fairfield design," he said.

W3 is negotiating with several interested tenants, including a "restaurant-entertainment" concept that's new to Tulsa, Wilkins said.

Hartman said part of the inspiration for the hotel stems from the amount of recent and upcoming development in the area, and noted that Tulsa Metro Chamber officials have said there's a need for more downtown hotel rooms.

The hotel will also be the debut of SJS Hospitality Management LLC, a full-service management company that aims to operate hotels throughout the region.

"We want to take our company toward management, whether it's hotels we've developed or existing ones," Hartman said.

As for the Courtyard hotel in the Atlas Building, Hartman said it's doing quite well. He said hotels generally take a year to 18 months to ramp up, and that the Courtyard has already made great strides.

"We've seen a number of 60 percent to 70 percent occupancy nights," he said. SJS Hospitality also owns and operates TownePlace Suites by Marriott and Holiday Inn Express Hotel & Suites, both in Broken Arrow near the Bass Pro Shops.

[Renaissance]

Congratulations, Will.  Kudos for moving forward with a venture that will help remake the downtown Tulsa streetscape.

[TheLofts@120]

Thank you Flyod, we are quite happy about the new development.  Took a while to bring it all together but we wanted to make sure we were announcing a solid project, with a carefully crafted concept, before rushing to press.  The land has been secured and the project is moving to the architecture/engineering phase in the next couple of weeks. 

There is a lot of potential for the Brady Arts District and this will be a cornerstone for new development in the area while also anchoring and building upon the existing business and entertainment offered in the area.

With its location being central between the BOKCenter and Oneok Field, we see this as a destination spot that can cater to a wide variety of interests before and after games and concerts.  We also hope this announcement will push those considering moving the pop culture musuem and other large venues to this area.

What can I say, its exciting and we could not have put a better partnership together than the one between a proven downtown hotel developer and significant land holders like David Sharp and his real estate partner, Greg Oliphant.

[TheArtist]

[SXSW]

I like it, as long as it's all brick...

[TheLofts@120]

The rendering doesn't show well and it is at the concept stage, the chosen architect will further refine the exterior elevation during the A/E services phase, but it has been important to all involved that the exterior reflect the existing architecture in the Brady District and that it be predominantly brick and mortar, not much EFIS, if any. 

The hotel will feature the standard Fairfield Inn & Suites amenities such as in-ground pool and workout facility.  Other features may be added once the design portion of the A/E services kicks in, depending on space. 

To either side of the first floor porte-cochère, there will be approximately 5,300sf (North end) and 5,700sf (South end) that could be divided further into commercial/retail/restaurant space. 

We will be looking for a coffee/pastry shop, restaurant/entertainment concepts and others that will contribute not only to the hotel guest's stay, but the District as a whole.

If anyone is interested in space, feel free to give Cecilia Wilkins a call at 918-902-8959

[SXSW]

Something with the same exterior materials/detailing as the Tribune Building would be appropriate, with the retail space matching what is existing north of Brady.  The streetscaping in place north of Brady should be continued as well.  Now if only you could connect Main through from 1st to 3rd...

The site


And what would be immediately to the south (if it ever gets off the ground)

[TheLofts@120]

This article was published in this week's Urban Tulsa...

POSTED ON AUGUST 4, 2010:

Brady District Checks In
Fairfield Inn & Suites is the latest hotel to make room downtown

By Stacy Pettit

With new development and business plans being put in motion in the Brady Arts District with regularity, hotel developer SJS Hospitality along with property owner Brady 41 have joined together to construct a Fairfield Inn & Suites hotel between Archer and Brady Streets.

"It's an up and coming area," said Jeff Hartman, operating partner for SJS Hospitality. "I think the Brady District is on the verge of really having an exposure of arts and entertainment for the downtown market."

The $11 million construction of the four-story hotel is proposed to begin January 2011, Hartman said. And the 108-room hotel will not be SJS Hospitality's first project.

The company owns and operates four other hotels in the Tulsa area, including the Holiday Inn Express and TownPlace Suites by Marriot near Bass Pro Shop in Broken Arrow. The company's most recent project was the redevelopment of the historic Atlas Life Building downtown into a Courtyard by Marriot Hotel, which opened this past June.

Hartman said he expects the construction of the hotel to be completed within 14 months. The Fairfield Inn & Suites, which will replace what is currently a parking lot east of Main Street between Archer Street and Brady Street, will be one more piece to the evolving Brady District, Hartman said.

"With ONEOK Field coming in and seeing the success they've had, if you look at ONEOK Field and go down Brady Street to where this site is, it's almost as if we're creating two bookends," he said. "Between that, there will be lots of development with loft apartments and parks and museums."

Greg Gray, president of the Brady Business Association, expects the hotel to help fill a void seen in the district.

"I'm very happy about it," he said, especially in light of the uncertainty that has been generated over the financial problems the nearby Crowne Plaza finds itself in. "Having something like this in the Brady District moves us toward a sustainable plan and makes us more of a 24/7 community.

"It'll sure help with special events, and even with some of the people who are playing at the Brady Theater, since their entire crew could stay there if they wanted."

The city's economic development director Mike Bunney has watched as this district has evolved and shifted industries throughout the past few years.

"The Brady is undergoing a change from a primarily commercial area to a walkable urban community," he said. "There is certainly a segment of our population who desire this type of lifestyle with arts, dining and entertainment all within an easy walk."

With this in mind, Hartman said the hotel will include 11,500 square feet of retail space on its first floor. Although companies to do this have not been selected, the space will most likely have a restaurant and club along with a coffee shop for daytime customers.

Hartman said a section of the retail will also be dedicated to a driving theme that has become a part of the district.

"If we can take some of that first floor and have something like an art gallery where the exhibits would switch out throughout the year, that could be a part of the arts community down there," he said.

The building itself will also reflect the district, with a brick exterior similar to surrounding warehouses, and exposed beams and an industrial feel in the interior.

Hartman said SJS Hospitality will not only partially own and develop the hotel but will also take the project on as the company's first opportunity to manage a hotel. However, Hartman said the company will most likely take a break after this hotel is completed.

"We need to sit back and wait for the demand to come back," he said.

With the exception of the Courtyard by Marriot downtown, the company's other hotels throughout the Tulsa area have seen a steady decline in occupancy levels since 2008.

"What we're seeing now is not a decline based on economy, but we're seeing a decline because of all these new hotels opening up," Hartman said. "Just in the south Tulsa area in the last four months, 400 new rooms have come online."

However, SJS Hospitality's hotel downtown tells a different story after seeing rapid success with 70 to 80 percent occupancy levels some nights, Hartman said. He attributes this increase in a declining industry to the development of downtown and a continued lack of hotels in the core of the city.

Even with both of Hartman's downtown ventures and other companies' plans to develop hotels downtown, such as the redevelopment of the former city hall building into a hotel, Bunney said there still remains a need for hotels in the downtown area.

"All of the survey and anecdotal evidence I have seen continues to support the need for hotel in the area to support a growing amount of visitors," he said. "We continue to hear that hotels at varying price points are needed to serve downtown visitors, whether they are traveling on business or to visit family or for destination travel."

The Fairfield Inn & Suites will be hitting a price point not seen at many other hotels in the downtown area, with the cost of a night's stay in the hotel ranging from $90 to $110.

"Everything else downtown is mid-hundreds and up," he said.

Bunney said the addition of the hotel might bring newcomers to the area.

"Another hotel located in the Brady will help us capture the visitor who might otherwise drive back home after a day trip to the art gallery," he said. "If we can get someone into the Brady for an afternoon event and then to stay overnight for a ballgame or a concert, the economy will be positively impacted."

[dbacks fan]

Seems like a great location, everything is a half mile or less, OneOK, BOk, Cain's, Brady, PAC. I wish them luck.

[RecycleMichael]

Seems like a great location, everything is a half mile or less, OneOK, BOk, Cain's, Brady, PAC. I wish them luck.

So is the Tulsa County Jail, the Salvation Army, the John 3:16 Mission, and the Day Center for the Homeless.

I too wish them luck. I personally would have picked a site a few more blocks to the east.

[Townsend]

So is the Tulsa County Jail, the Salvation Army, the John 3:16 Mission, and the Day Center for the Homeless.

Fix:  Tulsa's own Green Monster

[TheLofts@120]

And this one from the Tulsa Business Journal...

SJS announces Brady District hotel
By Tulsa Business Staff - 8/2/2010


Downtown is about to get a little more hospitable.

Local hotel development company SJS Hospitality LLC, which recently completed the Courtyard by Marriott - Historic Atlas Life hotel at Fifth Street and Boston Avenue, and land owner Brady 41 LLC, a partnership between Tulsans David Sharp and Gregory Oliphant, entered a joint venture to construct a limited service hotel on Main Street between Brady and Archer streets, on what is currently a surface parking lot.

The proposed four-story, 108-room Fairfield Inn & Suites will feature 11,500 SF of commercial space on the ground floor. SJS Hospitality will manage the hotel under its new venture, SJS Hospitality Management LLC, with W3 Real Estate, which brokered the deal, managing the ground-floor commercial space on behalf of Brady 41.

Will Wilkins, partner at W3 Real Estate, said the hotel will reflect the dominant architectural style and neighborhood feel of the Brady Arts District.  "It's not going to look like your prototypical Fairfield," Wilkins said. "Inside, it will have all of the Fairfield amenities and will feature the brand's new (Green Tea Decor Package), which is more eco-friendly and appropriate for this type of setting. Outside, it will reflect the neighborhood."

Wilkins said said the group is currently courting a handful of restaurant and entertainment options that would be unique to Tulsa, as well as a baked goods and coffee shop concept.

Wilkins said the hotel will cater to travelers who have time to explore local dining and entertainment options and don't necessarily need all of the amenities offered at the hotel.

"You'll have the weekday traveler who wants to stay close to downtown, yes," Wilkins said. "But because of our location between the BOK Center and Oneok Field, as well as our proximity to places like the Cain's Ballroom and the Brady Theater, we will see travelers coming into town on the weekends for entertainment."

The group is currently selecting an architectural and engineering team. Construction will start in January and take a year.


--------------------------------------------------------------------------------
Tulsa Business Journal, Copyright © 2010, All Rights Reserved. 

[TheLofts@120]

Funny that you mention that Michael. 

While we consider the new site a great alternative and one that will hopefully encourage further growth and redevelopment in the immediate area (which is really gaining momentum since this announcement)...this was in fact, the hotel development that was slated to be part of the mixed-use development we were pursuing on the site across from the ballpark - a few blocks to the East. 

Should we see a favorable outcome of that particular situation, another hotel there is not out of the realm of possibility as we continue to talk with other hotel developers and concepts to further provide downtown with much needed hotel, commercial and residential space. 

We will just have to see what the future brings.  In the meantime, we will continue to pursue other avenues of development in and around downtown.

News to follow next week on the Enterprise loft conversion.

[TheArtist]

So is the Tulsa County Jail, the Salvation Army, the John 3:16 Mission, and the Day Center for the Homeless.

I too wish them luck. I personally would have picked a site a few more blocks to the east.

  Didn't they try that already? lol  I dont think those things will bother them one bit.  I go down to the Brady and Greenwood districts all the time and never run across those things.  I don't think most people go that far.  The strip obviously begins to run out past the Brady.  Plus I really like that they will be enhancing the street wall where the Cains, Lolas and many other things are.  That intersection will act as an east-west bookend to the one on Greenwood by the ballpark. Dont worry, this is safely nestled within the boundaries of respectable civilization  .