Downtown development recap

[Conan71]

Is there work going on there?

Thorco is moving out to an industrial park near Pine & Mingo around the first of the year due to redevelopment of the property.  It looks like we will be removing and installing their steam generator and test system they use to certify pressure relief valves. One of the Thorco guys I talked to said he thought the metal sided buildings will be razed but the brick part may be re-purposed.  I'm hoping pfox or someone else will see this post and fill us in a little better.

[Cats Cats Cats]

Lets see what the fox says.

[Townsend]

Lets see what the fox says.

Wa-wa-way-do Wub-wid-bid-dum-way-do Wa-wa-way-do

Bay-budabud-dum-bam

Mama-dum-day-do

Abay-ba-da bum-bum bay-do

[Conan71]

First time I heard that song was at my daughter's wedding reception Saturday night.  That's a random song.

[carltonplace]

Re the Thorco Site, I think this thread has the answers you seek: http://www.tulsanow.org/forum/index.php?topic=20229.0

[Conan71]

Re the Thorco Site, I think this thread has the answers you seek: http://www.tulsanow.org/forum/index.php?topic=20229.0

Thorco is between Elgin & Frankfort.  The Patel hotel is going between Detroit & Elgin.

[carltonplace]

This one:




Great! Can't wait to hear the news

[Townsend]

Urban 8 broke ground this morning.

Downtown Condo Project Officially Underway

http://kwgs.com/post/downtown-condo-project-officially-underway

A residential project in downtown Tulsa's East Village delayed by permit and financing problems is now officially underway.

Local officials and developers broke ground this morning on Urban 8, a condo project offering a chance at individual ownership in downtown Tulsa.

Developer Yvonne Hovell said the units will be energy efficient and highly customizable.

"Each townhome can truly become someone's custom idea and home, offering customized cabinets, floors, countertops, bathroom fixtures and plumbing," Hovell said.

Urban 8 is at the corner of Third Street and Greenwood Avenue, within half a mile of recently built Greenarch Apartments. Tulsa Development Authority Chairman Julius Pegues said the focus on redeveloping downtown is starting to pay off.

"We have developers who are interested in making Tulsa's downtown area — and the city of Tulsa — one of the most vibrant cities in this country," Pegues said.

Construction was originally slated to begin in spring of 2012, but the company says two units have already sold.

[Conan71]

If Yvonne Hovell doesn't ring a bell she is either the owner or former owner of East Tulsa Dodge.  Great news!

[TheArtist]

  While I count our blessings for every new housing development that goes into downtown, is it just me or is it a little sad that for Tulsa, 8 units is a big enough deal for there to be a groundbreaking ceremony replete with "local dignitaries" and the press? 

[DolfanBob]

  While I count our blessings for every new housing development that goes into downtown, is it just me or is it a little sad that for Tulsa, 8 units is a big enough deal for there to be a groundbreaking ceremony replete with "local dignitaries" and the press? 

Artist. The Seven unit development in Downtown Broken Arrow also was newsworthy a few weeks back. I thought the exact thing that you did.

[SXSW]

It's noteworthy that these are for sale condos and not apartments like the other recent downtown residential projects.  And there aren't that many new projects so I guess we have to celebrate progress.

[sgrizzle]

If Yvonne Hovell doesn't ring a bell she is either the owner or former owner of East Tulsa Dodge.  Great news!

Former owner. Her name has been on downtown housing proposals pretty much since then.

[SXSW]

From what I can tell these are the current projects under construction downtown, with several others starting soon:

- YMCA Lofts at 6th & Denver - 82 rental units with retail space on Denver
- Vandever Lofts at 5th & Main - 40 rental units with retail space on 5th
- Harrington Lofts at 8th & Main - 24 rental units
- Urban 8 at 3rd & Greenwood - 8 for sale units
- 100 Boulder Townhomes at 1st & Boulder - 18 for sale units
- Best Western at 6th & Houston - 82 rooms
- Bill White Chevrolet apartments at 4th & Elgin - 53 rental units
- $48 million renovation of the Central Library
- TCC Physical Therapy Clinic at 9th & Cincinnati

Starting this summer/fall
- Holiday Inn Express at Cincinnati & Archer - 110 rooms
- Hampton Inn at 3rd & Cheyenne - 120 rooms
- Hilton Garden Inn at 2nd & Cheyenne - 134 rooms
- East Village Phase I (the Brickhugger project at 1st & Greenwood) - 30 units

Proposed for 2015
- Brady Flats at Archer & Boston - 61 rental units
- Hotel in the Parker Drilling Building at 3rd & Main
- Hartford Commons at 2nd & Hartford - 162 units
- Wil Wilkin's hotel/office development at Archer & Elgin by the ballpark
- 111 W 5th at 5th & Boulder - 90 rental units
- GreenArch Phase II at Archer & Greenwood - 70 units

I'm sure I missed some so please correct my list.  Seems like we will be covered by new hotel rooms and rental units.  It would be nice to see more new construction residential both rental and for sale and office developments which have cooled down even though Class A vacancy is fairly low in downtown. 

[Townsend]

Tax Incentives Could Help Projects at Historic Buildings Downtown

http://kwgs.com/post/tax-incentives-could-help-projects-historic-buildings-downtown

Developers eyeing four historic downtown Tulsa sites may get tax incentives to help pay for combined residential and retail projects.

City Economic Development Coordinator Jim Coles said the incentive is a property tax abatement to cover any gaps between financing and actual costs.

"It freezes the tax level as it currently is, so all the taxing entities still receive the current amount that they would, just like last year," Coles said. "But for six years, it doesn't increase. That's captured by the developer; he keeps that and uses that toward his project."

Two developers are looking at the old Bill White Chevy dealership, the Transok Building, the Adams Hotel and the 111 West Fifth building. Coles said the buildings need new purposes.

"They just don't work great as high-quality office space anymore," Coles said. "It is a real opportunity to reuse them, reinvent them, keep them looking classic as they always have and get more people downtown."

A development committee and entities receiving property taxes have vetted the projects. The city council will have a public hearing and will likely approve the incentives at its June 12 meeting.