Feedback please - Continental Supply Building for residential

[TheLofts@120]

Hello everyone.  As we begin identifying other areas of the ownership's Brady Arts District properties for redevelopment in line with the proposed hotel and the other mixed use developments either getting ready to start or on the boards, I wanted to gauge public opinion about this particular building.  This is the Continental Supply Building located across from the Cain's Ballroom.



We are trying to determine a purpose for it and have considered retail/restaurant as well as mixed use.  We quickly found that mixed use may be cost prohibitive due to the extra life safety requirements for structures with multiple uses. 

We are considering residential lofts with 7-8 units ranging from 700sf 1-bedrooms to 1,200sf 2-bedrooms.  There would be a small lobby for entertaining guests and secured, gated parking for residential tenants.  The units would be all electric, separately metered with kitchen, bath and washer/dryer systems.  Nicely appointed finishes with european style cabinets, granites, nickel contemporary fixtures, polished concrete floors, exposed ceilings and mini-split HVAC systems.  Secured access at the rear of the building and public access at the front.

Rents would likely be in line with those of the Mayo, Mayo420 and the proposed Tribune II residential projects at about $1.20/sf making average rents at $840 and $1,440.  The location, we believe, would be a plus for those wanting to be in the heart of a growing entertainment district and within walking distance of several established and 'getting ready to break ground' new restaurants.

I would like to know what you think so please let me know.

Thanks

Will

[Townsend]

I've always loved the building.

What's going to happen to the industrial buildings South of it?

[Renaissance]

If you want to keep tenants, make sure the bedrooms are in the back and have good sound insulation.  It's one thing to say you want to live in the middle of things... it's another thing when you realize at some point you have to sleep soundly in the middle of things.

But I applaud your development vision!

[TheLofts@120]

Townsend...there are some industrial buildings located to the West of this parcel  In fact, right behind and to the West is a large two story brick warehouse building called the True Turn Building.  Today, we envision that as one of the last developments of the area after the various museums and in-fill take place.  I recently visited Chicago and it's Navy Pier and was fascinated by the approach they took to fill a large old warehouse building with shops, fast food courts, children's museum, stage, theater, etc.  I can envision this becoming something similar on a smaller scale as the rest of the area develops.

Immediately South of this location is a large green space that will likely be redeveloped into mixed-use as the need arises.  Work is beginning above the Violin Shop and Studio 212 with the Kaiser Family Foundation and David Sharp's redevelopment of that space into residential lofts for Teach America. 

We will soon be making an additional 20,000sf of rental space available for further restaurant and entertainment development as well as some new projects to bring in support developments like retail, dry cleaner, market, etc.

Elliott Nelson has already begun work on converting the former Lola's space into his next tavern concept, the Tulsa Business Journal recently published an article on that about a week ago if you are interested.

[TheLofts@120]

Floyd, thanks.  That is definitely something we are keeping in mind.  While we may not be able to drown out 100% of the noise, we anticipate these tenants will want some of that in choosing to live in this area.  I live on the South edge of Brady Heights and I can sometimes hear the band like its in my backyard.

Thanks for the suggestion.

[TheArtist]

  How big is this "small lobby"?  Might be a nice space for a temporary "Art Deco Museum" exhibit 

www.DECOPOLIS.net

[TheLofts@120]

Unfortunately William, that becomes a change of use triggering all those costly improvements that make the project feasibility tough economically.  But I like where you are going with this.  We have identified all the properties in the ownership's portfolio and are moving to make some modifications before putting them on the rental market.  Let's talk and see if there is someplace we can accomodate you temporarily.

Feel free to give me a call and we can see about sometime next week?  902-0760.

[TheArtist]

Unfortunately William, that becomes a change of use triggering all those costly improvements that make the project feasibility tough economically.  But I like where you are going with this.  We have identified all the properties in the ownership's portfolio and are moving to make some modifications before putting them on the rental market.  Let's talk and see if there is someplace we can accomodate you temporarily.

Feel free to give me a call and we can see about sometime next week?  902-0760.

Will do.  Thanks

[Conan71]

If you want to keep tenants, make sure the bedrooms are in the back and have good sound insulation.  It's one thing to say you want to live in the middle of things... it's another thing when you realize at some point you have to sleep soundly in the middle of things.

But I applaud your development vision!

Not much of a buffer with the north leg of the IDL either, but you get used to the noise after awhile.  That section of north Main has a great vibe, it could be a cool place to live.

[Renaissance]

Unfortunately William, that becomes a change of use triggering all those costly improvements that make the project feasibility tough economically. 

I'm curious about these codes that are making mixed-use rehab cost-prohibitive.  Perhaps the city council and mayor should be more worried about reforming barriers to development than bickering. 

[DowntownDan]

Townsend...there are some industrial buildings located to the West of this parcel  In fact, right behind and to the West is a large two story brick warehouse building called the True Turn Building.  Today, we envision that as one of the last developments of the area after the various museums and in-fill take place.  I recently visited Chicago and it's Navy Pier and was fascinated by the approach they took to fill a large old warehouse building with shops, fast food courts, children's museum, stage, theater, etc.  I can envision this becoming something similar on a smaller scale as the rest of the area develops.

Immediately South of this location is a large green space that will likely be redeveloped into mixed-use as the need arises.  Work is beginning above the Violin Shop and Studio 212 with the Kaiser Family Foundation and David Sharp's redevelopment of that space into residential lofts for Teach America. 

We will soon be making an additional 20,000sf of rental space available for further restaurant and entertainment development as well as some new projects to bring in support developments like retail, dry cleaner, market, etc.

Elliott Nelson has already begun work on converting the former Lola's space into his next tavern concept, the Tulsa Business Journal recently published an article on that about a week ago if you are interested.

We finally got rid of one industrial truck yard in that part of town, any chance the truck yard just south of the greenspace your talking about might go away also?  I really hate the industrial infill in this part of town.

[PonderInc]

Since the new Comp Plan is profoundly supportive of mixed use in areas such as this, it would be good to identify obstacles that need to be rectified.  Can you elaborate?