Downtown development recap

[Red Arrow]

What do you think it's worth?

Probably not worth the electrons required to display it.

[saintnicster]

So what is going in on that block, anyone know?

Apparently it is a hotel, but not the one we were thinking of.

This article mentions "TownePlace Suites on Elgin Avenue on the southwest corner from the ballpark", but that's the first time I've heard about it.

[Townsend]

City Opens Applications for Downtown Development Loans

http://publicradiotulsa.org/post/city-opens-applications-downtown-development-loans

Developers eyeing downtown Tulsa can now apply for short-term, no-interest loans from the city.

Downtown Tulsa has come a long way in the last few years, and Planning Director Dawn Warrick said it's important to continue that momentum.

"A program to incentivize downtown development, to provide that support where often there's a gap in funding, is something that the city felt very strongly about, and it was obviously supported by the voters," Warrick said.

A total of $4 million are available for nearly ready projects.

"We anticipate that the projects that come in with these applications won't be just conceptual projects," Warrick said. "They'll have been carried forward to an extent that the applicant understands the financials behind the project and that a considerable level of design has been done."

The Downtown Development and Redevelopment Fund was part of the 2013 Improve Our Tulsa funding package. It's different than a previous program dedicated to residential projects within the Inner Dispersal Loop.

"Ideally, it's going to be a development that meets a market demand and fits within the downtown context," Warrick said. "We would anticipate continued housing development, but also mixed-use and other types of office and commercial."

Projects developing or redeveloping property within the Inner Dispersal Loop qualify; however, loans can't be used for buying land. The city will review applications and award loans, while the Tulsa Development Authority will administer them.

C'mon Sager...getcha some.

[TheArtist]

City Opens Applications for Downtown Development Loans

http://publicradiotulsa.org/post/city-opens-applications-downtown-development-loans

Come on Enterprise, Tulsa Club, or ARCO.

[LandArchPoke]

Come on Enterprise, Tulsa Club, or ARCO.

Won't be Tulsa Club. Building has just recently been listed for sale again. Looks like the previous deal has fallen through. I HIGHLY doubt the current owner wants to do the project themselves, looks like they're just trying to hold out for $$ as downtown property values rise.

Interesting to note. There is as many residential units scheduled to deliver by 2016 (around 700-800 if all goes as planned) as there has been delivered since the BOK Center opened.

Another interesting fact, is that the Bill White Chevy redevelopment is attaining rents close to $2.00/sq. ft. which is important sign that high rise construction might be on the horizon. $2.00/sq. ft. is typically where you see the point that 5 or more story construction becomes feasible.

[ZYX]

http://m.newson6.com/Story.aspx?story=28088686&catId=112042

Great to see so many hotels in the works.