Bomasada Group looking at Downtown for new Residential

[LandArchPoke]

Gilbert said he holds no grudge against Oklahoma City and remains "bullish" on downtown. In the meantime, his company is moving forward with a separate housing development in downtown Tulsa.

Read more: http://newsok.com/oklahoma-city-delays-on-creating-railroad-quiet-zone-blamed-for-death-of-38-million-development/article/3626883#ixzz1fFUFvbgj


What ever happened to the Brookside complex? Oklahoma City lost out on a $38 million dollar complex in Automobile Alley. Anyone have any idea where in downtown they are planning on building here? I wonder if they will be the ones constructing the residential component at One Place?

[jacobi]

Hmmm, is there any other source to look at for this?  This is very interesting.

[Breadburner]

This bunch is all hat and no cattle.....

[DTowner]

The buidling in Charleston would look great downtown.  The failure of the Brookside project is a concern, but this company does have some successes to point to, which is encouraging.  I hope Gilbert knows Tulsa has a "quiet zone" for its downtown tracks.

The article was interesting in that it paints a pictue of OKC's downtown development office missing out on a concrete development because it is pinning its hopes on the more ambitious "core to shore" that could be a decade away from materializing.

[TheTed]

Meh. We already have projects announced that probably won't happen. No need to concern ourselves with something in the consideration phase of planning.

[cannon_fodder]

The other project has died.  I thought this company had gone belly up as they ceased answering their phones.  Their projects look great and I hope both the brookside and downtown one get going.

[TheArtist]

  Things have changed since they were last looking to build in Tulsa.  Brookside was on the up and had the buzz, but even then it seemed that their cost/profit ratio for the size of building they could develop in Brookide (height limit and all) was kind of tight.  And now, downtown is much more the hot commodity "urban housing" wise than it once was.  The new apartment housing and such that went in on Brookside around the time they were thinking of building, right before the economy started really looking bad, took a while to fill up and another housing project across from them also didn't get completed.  Meanwhile there have been successive projects in downtown that have finished up and sold out with waiting lists for more.   If I had held off on a development of the type they do, and then was looking at Tulsa anew, I would say downtown would be the place to be.   

  Not gonna get any hopes up until I hear something concrete, but sure would be nice to have another good sized, urban housing development in downtown.

[SXSW]

I think the Brookside site would be perfect for townhomes and not 4 story apartments like they originally proposed.  Downtown, though, is a much better location for a dense, apartment development especially around the ballpark..

[TheArtist]

I think the Brookside site would be perfect for townhomes and not 4 story apartments like they originally proposed.  Downtown, though, is a much better location for a dense, apartment development especially around the ballpark..

Indeed, I think you could still add some good density in that brookside spot with some townhomes. Though again the trick is the cost of the build out per what you can get for each townhome, vrs what you can already get right in the same area.  Their earlier development idea, while ok, would actually fit better downtown and they could add a couple more stories to it like they had really wanted to do.   

[LandArchPoke]

Hmmm, is there any other source to look at for this?  This is very interesting.

No sorry, I just noticed it in the article when I read it so I figured I would post it here and see if anyone had heard anything about it.

The other project has died.  I thought this company had gone belly up as they ceased answering their phones.  Their projects look great and I hope both the brookside and downtown one get going.

I think there at the beginning of the recession they were on the verge of bankruptcy and I don't know if they ever did file.

I think the Brookside site would be perfect for townhomes and not 4 story apartments like they originally proposed.  Downtown, though, is a much better location for a dense, apartment development especially around the ballpark..

Around the Ballpark would be awesome. That would really build the Brady/Greenwood area into a walkable residential community with the Tribune/Metro, GreenArch, and the few other small loft projects.

I wonder if Bomasada still owns that land in Brookside or if they sold it off?

[DTowner]

According to this Urban Tulsa article from 2008, Bomasada terminated its contract for the Brookside apartments because unexpected building costs to comply with city requirements made the project financially undesireable.

http://www.urbantulsa.com/gyrobase/Content?oid=oid%3A20069

I think Artist is right, housing downtown is now the more interesting and appealing play.  I'm glad Bomasada is still interested in doing something in Tulsa.  As always, the caveat applies - I'll get excited when I start seeing dirt moving.

[jacobi]

As always, the caveat applies - I'll get excited when I start seeing dirt moving.

A man after my own skeptical heart...

[cannon_fodder]

Unexpected building costs?

They considered the location.  Drew plans up.  Worked in zoning variance.  Changed the plans to fit the neighborhood.  Tore down existing structure.  Did ground work.  Then the economy collapse and they find unexpected requirements, stop answering their office phones, and let the project die?  Odd.

[cannon_fodder]

Old thread on Bomasada:
http://www.tulsanow.org/forum/index.php?topic=9130.0

It was on.  Then it was off.  Then I called a VP and it was on.  Then, of course, it was off.