Elliot Nelson Investing in $19.2M downtown apartment complex - 142 Units

[guido911]

Where is this "downtown" you people frequently speak of in this forum? I keep looking around for this place where all the people seem to be, you know, on 71st street east of memorial, and I have never seen a "blue dome" anything...

[Townsend]

Where is this "downtown" you people frequently speak of in this forum? I keep looking around for this place where all the people seem to be, you know, on 71st street east of memorial, and I have never seen a "blue dome" anything...

Do you really intentionally go to 71st and Memorial?

[Red Arrow]

Do you really intentionally go to 71st and Memorial?

71st and Memorial isn't anywhere near as bad as 71st between Memorial and Garnett.

[Townsend]

71st and Memorial isn't anywhere near as bad as 71st between Memorial and Garnett.

I group all that together.

I've heard "71st and Hell" as the name of the area.

[Red Arrow]

I've heard "71st and Hell" as the name of the area.

I can't argue with that.

Most of the time, going to High Gravity (SW corner of 71st & Mem) isn't too bad.  There is frequently worse traffic between the Creek and WalMart at 111th.  Just don't turn east on 71st from Memorial.

[Teatownclown]

I can't argue with that.

Most of the time, going to High Gravity (SW corner of 71st & Mem) isn't too bad.  There is frequently worse traffic between the Creek and WalMart at 111th.  Just don't turn east on 71st from Memorial.

Absolutely. The south end of Memorial has become an avoidance area. Tulsa Hills has relieved much of the 71st Street congestion. 71st and Garnett to 169 and Mingo to 169 can be bearish though.

[DowntownDan]

http://www.tulsaworld.com/news/article.aspx?subjectid=11&articleid=20130204_11_A1_CUTLIN66993

First step.  Affordable housing for young professionals.  I'm glad to see this building being fixed up.  I used to drive by it often with seedy people hanging around it.  Also glad to see development heading that direction.  Once there are people there, then services.  Hope the quick timeline is accurate.

[Townsend]

http://www.tulsaworld.com/news/article.aspx?subjectid=11&articleid=20130204_11_A1_CUTLIN66993

First step.  Affordable housing for young professionals.  I'm glad to see this building being fixed up.  I used to drive by it often with seedy people hanging around it.  Also glad to see development heading that direction.  Once there are people there, then services.  Hope the quick timeline is accurate.

That's great.  I used to drive by there every day and wish someone had the means and want to do something with it.

[carltonplace]

I noticed that work has also started on the Bill White building.

[saintnicster]

When the building reopens next spring, tenants will have to make less than 60 percent of median income to qualify to live there, according to the tax credit application.

This one requirement is throwing my head for a loop, and I feel extra dumb because of it.

http://quickfacts.census.gov/qfd/states/40/4075000.html
This site says that the "Median household income, 2007-2011" is $40,268.  Does the above statement mean that you need to make ~<= $24,160.80 a year to qualify?

Can someone clarify/confirm?

[ZYX]

This is awesome! Some more affordable apartments mixed in with the super-expensive ones are just what we need. I suspect these will fill up fast and have a long waiting list.

[Oil Capital]

Very cool project.  Love this kind of old apartment building.

[rdj]

This one requirement is throwing my head for a loop, and I feel extra dumb because of it.

http://quickfacts.census.gov/qfd/states/40/4075000.html
This site says that the "Median household income, 2007-2011" is $40,268.  Does the above statement mean that you need to make ~<= $24,160.80 a year to qualify?

Can someone clarify/confirm?

Ever seen a waiter's tax return?

[DTowner]

This project is great news for downtown in general and this section of Elgin in particular.