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September 28, 2022, 01:31:03 am
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Author Topic: Any new midtown/Cherry Street developments?  (Read 252773 times)
ComeOnBenjals
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« Reply #600 on: October 26, 2021, 09:40:36 am »

In other BREAKING NEWS: The Burnt out shed next to the Subway on Cherry St has been removed. The entire site is an eye sore... on one of Tulsa's premier streets. Hope it's reworked here soon!
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shavethewhales
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« Reply #601 on: October 26, 2021, 11:50:45 am »

Brilliant. Only took them 2 years, and that thing was looking dumpy for years before then anyway. Looking back through street view, it's interesting how that little building has changed. I didn't realize they used to keep bars on the windows.

Any other signs of progress with the rest of the building?
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tulsabug
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« Reply #602 on: October 26, 2021, 03:39:25 pm »

SW corner of 21st & Boston?  Tulsa County Assessor has that at a fair market value of $931,800.

I can't say I've ever seen any commercial site in town sell for anywhere near to the Assessor's valuation. Probably one reason so many small business owners can't buy their buildings - banks, even SBA ones, will only loan to that valuation which is typically 50% of the actual selling price. For example - the old Animal Aid of Tulsa building on 15th has a valuation of $155,000 but is currently listed on Loopnet for $495,000. Or 556 N Denver - super cool old building - valuation is $299,000 but is listed for $850,000.
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DowntownDan
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« Reply #603 on: October 28, 2021, 08:22:59 am »

A fence is now up around the gas station at 15th and Utica so as I suspected it's coming down too like the stuff nearby. The only thing left on that corner will be Chelsea Gallery. Again, there better be a plan in place, and not just expansion of "the lot."
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SXSW
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« Reply #604 on: October 28, 2021, 08:33:48 am »

A fence is now up around the gas station at 15th and Utica so as I suspected it's coming down too like the stuff nearby. The only thing left on that corner will be Chelsea Gallery. Again, there better be a plan in place, and not just expansion of "the lot."

Interesting, anyone know if anything has been submitted to the city as far as a development plan or PUD?  Half the site is zoned CH along 15th and OH along 14th.  Itís also in a federal Opportunity Zone.

Iíve like all of the projects Bumgarner has developed in Midtown so hoping this is another quality piece of infill.
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LandArchPoke
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« Reply #605 on: October 28, 2021, 12:34:56 pm »

Interesting, anyone know if anything has been submitted to the city as far as a development plan or PUD?  Half the site is zoned CH along 15th and OH along 14th.  Itís also in a federal Opportunity Zone.

Iíve like all of the projects Bumgarner has developed in Midtown so hoping this is another quality piece of infill.

From what I had heard years ago was he has plans for about 400k sq ft of office (spread out on that lot you're talking maybe 4-5 stories possibly) and that he'd only build on those lots with a prelease. I don't think at that point there were really even any specific drawings/plans for what it'd look like but it was known in the brokerage community he would entertain something like that. Likely some of those conceptual ideas for the site has changed between then and now some, but I'd bet the buildings are being cleared to drop the assessment and tax burden so he can hold on to the site for while. I doubt there is specific plans to break ground on anything soon if he's still focused on that site being office.
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DowntownDan
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« Reply #606 on: October 28, 2021, 12:52:24 pm »

It's a perfect spot for mixed-use +. It could contain office, retail, dining, apartments, hotel, parking garage usable by all of Cherry Street. I really think a hotel would do well, considering that all of our hotels seem to be downtown or south of I-44.
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SXSW
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« Reply #607 on: October 28, 2021, 11:16:17 pm »

It's a perfect spot for mixed-use +. It could contain office, retail, dining, apartments, hotel, parking garage usable by all of Cherry Street. I really think a hotel would do well, considering that all of our hotels seem to be downtown or south of I-44.

This site IMO is the second best large infill site in midtown.  #1 being 21st & Utica (the old H&P site) and #3 is 31st & Peoria where Brookside31 was proposed.
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Red Arrow
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« Reply #608 on: October 29, 2021, 12:32:07 am »

It's a perfect spot for mixed-use +. It could contain office, retail, dining, apartments, hotel, parking garage usable by all of Cherry Street. I really think a hotel would do well, considering that all of our hotels seem to be downtown or south of I-44.

Would a hotel really be successful here or is it mostly local traffic?
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LandArchPoke
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« Reply #609 on: October 29, 2021, 11:14:20 am »

Would a hotel really be successful here or is it mostly local traffic?

I do, I think one here and another in Utica Square would do really well. I could see something like a Kimpton type brand on this site do really well. Bit higher end and something that you see go in neighborhoods like Cherry Street. The vacant lot on the NW corner of Utica/21st have always thought would be a good site for a 5 star hotel and condos above (think Utica Place but instead of office and condos it's a small hotel). Probably one of the only sites in Oklahoma that might be able to convince a full five star hotel brand to join on (key word: might).

There's probably need for a 3-3.5 star hotel somewhere around here too, probably would be better on some of the vacant lots around Hillcrest and could serve as a Route 66 hotel too. There's a ton of hotel demand with hospitals from family members who would probably rather get a hotel in walking distance versus sleeping in the room with people overnight or driving all the way back home for the night or people who might have an early surgery/procedure that don't live super close you can get a room next door and be 5 mins from the hospital in the morning. Baylor Hospital in East Dallas has two hotels, an Element Hotel and one right on the campus which is a Home2Suites by Hilton that I think would do really well next to Hillcrest that pretty much just serves the hospital. It's walkable to Deep Ellum but if you're looking for a hotel to party in that area you aren't going to stay there. That Baylor campus is probably a bit smaller than Hillcrest/St. John's if they were combined.
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tulsabug
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« Reply #610 on: October 29, 2021, 03:52:11 pm »

In other BREAKING NEWS: The Burnt out shed next to the Subway on Cherry St has been removed. The entire site is an eye sore... on one of Tulsa's premier streets. Hope it's reworked here soon!



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ComeOnBenjals
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« Reply #611 on: November 22, 2021, 08:58:39 am »

The gas station on the corner of 15th and Utica has been torn down... not sure what the plan is for the site, but they've gone pretty quickly on the tear down.
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shavethewhales
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« Reply #612 on: November 22, 2021, 11:00:53 am »

The CVS announcement of closing 900 stores makes me wonder about that location. I know it's close to the hospitals, but it has always been pretty empty when I've gone by (admittedly I only go by occasionally at night).

Weird that this area isn't more of a target for major development. Would be a great place for a hotel and chain restaurants if nothing else. Highway + hospitals + cherry street should make it as prime real estate for business as any place in the metro.
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SXSW
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« Reply #613 on: November 28, 2021, 12:38:17 pm »

The Peoria bridge over Crow Creek will be rebuilt over the next several months.  In addition to a new bridge it will have wider sidewalks on each side.  Not sure if it includes any kind of pedestrian underpass

https://www.newson6.com/story/619bc84b730b3b0bf29cf153/lane-closure-begin-ahead-of-repair-project-on-south-peoria-ave-bridge-over-crow-creek
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LandArchPoke
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« Reply #614 on: November 28, 2021, 01:47:43 pm »

The CVS announcement of closing 900 stores makes me wonder about that location. I know it's close to the hospitals, but it has always been pretty empty when I've gone by (admittedly I only go by occasionally at night).

Weird that this area isn't more of a target for major development. Would be a great place for a hotel and chain restaurants if nothing else. Highway + hospitals + cherry street should make it as prime real estate for business as any place in the metro.

This is why parking requirements are such a ridiculous thing - CVS/Walgreens get grouped in with other retail and pharmacies never have 'rush' periods outside of the drive throughs maybe after 5pm. Even the highest grossing CVS/Walgreen's probably don't need more than 15-20 parking spaces during the busier time periods, yet on a prime corner in Tulsa they built 50+ spaces that are 80-90% empty 100% of the time. Generally with pharmacies its a steady business through most of the day and so while they don't ever look 'busy' they have a continuous stream of customers pretty much all day long that spend 5-10 minutes in the store maximum.

Reason this area hasn't seen more redevelopment is mainly Bumgarner, he's being a speculator versus and active developer. He's content knocking down structures to reduce his property tax bill and just sitting on the land knowing that each year it just becomes more valuable. We shouldn't allow developers to reduce their tax burden by knocking down properties like this - main reason why we have so many parking lots downtown too with no rush to redevelop. 
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