Mayo Hotel/Mayo Building update from DTU

[RecycleMichael]

From the Tulsa World...

http://www.tulsaworld.com/news/article.aspx?articleID=070824_1_A1_hThem51254

Historic Mayo set for major makeover

Preliminary work leading up to a $35 million project to open 18 floors of the landmark Mayo Hotel will begin soon. Major construction is planned to start early next year.

By MICHAEL OVERALL World Staff Writer
8/24/2007

The $35 million apartment-hotel project starts in earnest in January. A building permit has been issued to begin work on a $35 million project to reopen downtown Tulsa's historic Mayo Hotel, officials said Thursday. Major construction won't start until January, but the initial $500,000 permit will allow for curb cuts and sidewalk changes to allow the building's first floor to remain open for events during the renovation of the upper floors.

The project will include a hotel on the first nine floors of the building and residential apartments on the upper nine floors, said Macy Snyder, the property manager and events coordinator. The Snyder family bought the abandoned, gutted hotel for $250,000 in June 2001 and soon renovated the first floor into an upscale events center and the basement into a parking garage. But progress on the rest of the building has been slow, in spite of $4.9 million in Vision 2025 funds to support the creation of the loft apartments.

"The issue has always been financing," Snyder said. "We needed a partner, because we couldn't do this ourselves."  They found a partner in June, when the Mayo formed a joint venture with Presidian, a hotel development company based in San Antonio. Presidian has been involved in the renovation of several large-scale, historic hotels across the country, most recently at the Hilton President in downtown Kansas City, Mo.

"This is what they do," Snyder said, "and they are very good at it." Since it opened in 1925 at Fifth Street and Cheyenne Avenue, the Mayo has been one of downtown's most recognizable landmarks. In Tulsa's heyday as the "Oil Capital of the World," the 18th-floor Crystal Ballroom was often the site of glamorous parties, hosting presidents and celebrities. Will Rogers was a frequent guest. But after the hotel closed in the 1980s, it became a symbol for the decline of downtown. Now the Snyders hope it will become a symbol for downtown's revitalization. "We wanted to save it and bring it back to what it was," Snyder said, "because the Mayo is very important to Tulsa." Officials are planning a groundbreaking, perhaps for Jan. 1, she said. In the meantime, design work will continue, along with the installation of new elevators.

Construction should take 15 to 18 months, with tenants moving into the apartments by the summer of 2009 and the hotel opening soon afterward, Snyder said. The hotel will be built entirely with private money; the Vision 2025 funding will cover less than half the cost of building the lofts, she said. The apartments will rent for about $1 per square foot, or about $720 to more than $1,500 per month, she said. The hotel will include a restaurant and bar, with room service offered to both tenants and hotel guests, she said.

[Townsend]

quote:Originally posted by recyclemichael

From the Tulsa World...

http://www.tulsaworld.com/news/article.aspx?articleID=070824_1_A1_hThem51254

Historic Mayo set for major makeover

Preliminary work leading up to a $35 million project to open 18 floors of the landmark Mayo Hotel will begin soon. Major construction is planned to start early next year.

Kicka$$

[swake]

That is great news, I wonder what the brand will be.

[aoxamaxoa]

quote:Originally posted by swake

quote:Originally posted by Oil Capital

quote:Originally posted by swake

DTU is reporting that the Mayo Hotel's conversion of seven floors to residential has started construction. On a side note, I have a heard a couple of admittedly weak rumors about the remaining 17 floors becoming a Hilton Hotel.

DTU also reports that construction on the conversion of the Mayo Building into residential space should start next month.

Both residential projects are slated to have some space ready in mid '08.

If there's construction going on at the Mayo Hotel, they must be doing everything they can to keep it secret; like maybe working at night?  There is no evidence of activity there.

And "the remaining17 floors becoming a Hilton Hotel"?  How many floors does the building have?

Sorry, typo, 11 floors is correct


As for no apparent activity, I worked across the street from the Philtower when it was undergoing conversion into residential, and once it was gutted you would have never known there was anything going on from the outside.

And the Mayo was largely gutted many years ago.

The worst gut job in Tulsa history....

[cannon_fodder]

AOX:  Nay Nay!

Thanks, again, for your valuable and insightful input.
- - - -

Two parts of good news here.  #1:  Hotel.  many people wanted to see this happen, and so it is.  Whats more, hotels are like gas stations, where one new one goes in...

The other good news item is the apartment will (may) start out as low as $720 a month.  That's low enough that a young family or a single young professional could chose to live downtown.  Good deal.
- - -

The developer is the same one doing the resort on Grand Lake.  They seem to specialize in upscale developments in solid markets: Overland Park, Austin, San Antonio... a quick Google search and a look at their website (http://www.presidian.com/) shows nothing but top notch facilities.

Great news.  Now lets get some more businesses thinking about downtown.

[sgrizzle]

So no crystal ballroom?

[Renaissance]

quote:Originally posted by cannon_fodder

The other good news item is the apartment will (may) start out as low as $720 a month.  That's low enough that a young family or a single young professional could chose to live downtown.  Good deal.
- - -

The developer is the same one doing the resort on Grand Lake.  They seem to specialize in upscale developments in solid markets: Overland Park, Austin, San Antonio... a quick Google search and a look at their website (http://www.presidian.com/) shows nothing but top notch facilities.

Great news.  Now lets get some more businesses thinking about downtown.

Seriously, on the rent!  $1/sq ft for a gut rehab?  That's awesome.  Those places will go as fast as they become available.

[dsjeffries]

It's been said on here several times that the Mayo is THE indicator of how well or poorly downtown Tulsa is doing, and that not only is it the indicator, but is also a large factor itself in the success of downtown...

With that said, I was so very excited to see this finally coming to fruition.  This is one of the several turning points for downtown.  In fact, I'd predict that the rolling ball has just gained enormous momentum and things will pick up even faster now...  This is part of a solution to ensure that Heavenly Hospitality is a dead deal (thank God).  Events area, hotel, restaurant, bar AND apartments, all in our beloved icon.

Now, onto the sign on the roof...

Oh, and any idea of how many rooms a 9-floor hotel could hold?

[swake]

quote:Originally posted by DScott28604

It's been said on here several times that the Mayo is THE indicator of how well or poorly downtown Tulsa is doing, and that not only is it the indicator, but is also a large factor itself in the success of downtown...

With that said, I was so very excited to see this finally coming to fruition.  This is one of the several turning points for downtown.  In fact, I'd predict that the rolling ball has just gained enormous momentum and things will pick up even faster now...  This is part of a solution to ensure that Heavenly Hospitality is a dead deal (thank God).  Events area, hotel, restaurant, bar AND apartments, all in our beloved icon.

Now, onto the sign on the roof...

Oh, and any idea of how many rooms a 9-floor hotel could hold?

It was I want to say it was about 450 rooms before, or something like that. So I would guess something a little over 200.

[Renaissance]

How many did the Skirvin renovation end up with?

[Oil Capital]

quote:Originally posted by Floyd

How many did the Skirvin renovation end up with?

According to their website, 225

[aoxamaxoa]

quote:Originally posted by cannon_fodder

AOX:  Nay Nay!

Thanks, again, for your valuable and insightful input.
- - - -

Two parts of good news here.  #1:  Hotel.  many people wanted to see this happen, and so it is.  Whats more, hotels are like gas stations, where one new one goes in...

The other good news item is the apartment will (may) start out as low as $720 a month.  That's low enough that a young family or a single young professional could chose to live downtown.  Good deal.
- - -

The developer is the same one doing the resort on Grand Lake.  They seem to specialize in upscale developments in solid markets: Overland Park, Austin, San Antonio... a quick Google search and a look at their website (http://www.presidian.com/) shows nothing but top notch facilities.

Great news.  Now lets get some more businesses thinking about downtown.

CF: RAH RAH

Can't wait....walking distance to Wal Mart....

You're the customer in a marketing execs wet dream. Sold by the pictures.

And there could never be another Crystal Ballroom or Lobby like the original. Sad.

But it's location is still the best you can find in Downtown (Petulia Clark feed in here).

[cannon_fodder]

Aox, have you been in the Mayo in the last year?  If the quality of work they have completed on the lower level is any indication of the rest of the building I do not believe you will be disappointed.  Well, you will be, but most people will be satisfied that a completely ruined building has been restored and utilized.

And yes, I certainly cheer on the things that are worth cheering for.  Not everything is bad news, try as you might.

[TheArtist]

Wonderful news. Glad this is finally getting going.  This building is a great example of the type of mixed use that will make downtown thrive again. Keeping activity going day and night.  Plus every bit of residential that is added will slowly bring us to the "critical mass" that is needed for things to take off on their own. Its not easy taking an area of town that tried to basically be an office park, and turn it around into a vital, walkable, urban community.  Its these small projects one by one that are our best hope.

[Oil Capital]

Does anyone have any idea what it is they have to do regarding "curb cuts and sidewalk changes to allow the building's first floor to remain open for events during the renovation of the upper floors" ?   and why it would cost as much as $500,000??

BTW, Floyd, RecycleMichael, what was that you were saying about construction on the upper floors having already started earlier this summer?  []