On the last post about the former name, the Moderator requested we make a new topic on this:
Jacobs Lofts honors downtown building's legacy with new name
A downtown residential development scheduled to hold a grand opening this summer has been renamed to honor the building's history.
Jacobs Lofts on First, formerly the First Street Lofts at 310 E. First St., pays homage to Louie Jacobs, the first known owner and proprietor of the rooming house that originally occupied the five-story, brick building constructed in 1918.
Developer Ross Group purchased the building in the Blue Dome District for $1.45 million last year and is sinking at least $6 million into a conversion of the structure into 28 loft-style apartments on the second through fifth floors. Jacobs Lofts is accepting pre-leasing applications.
The first floor, which houses the liquor store Whiskey Business, also will accommodate two additional retail and restaurant spaces, which are available for lease.
Renovation of the second through fifth floors is nearly complete, with rooms including features such as wood floors, contemporary finishes and large windows. Reflecting the building's rich history, it also includes industrial details such as refinished concrete floors and exposed brick and ductwork.
The original Jacobs Building capstone will be prominently featured in the parking lot courtyard.
“It’s between the Brady District and BOK (Center) and has a walkability factor,” a Ross Group project manager told the Tulsa World in an interview last year. “It’s in the heart of the Blue Dome District.
“We strongly believe in the residential component of downtown. For us to get our hands in that arena is important from a development standpoint.”
When the Jacobs Hotel was built in the early 20th century, plans were laid out for the Union train depot to be constructed near the hotel. But when the depot eventually was constructed farther west, the hotel became impractical for lodging and used for storage and later leased.
Jacobs also operated a profitable — albeit questionable — apple cider and vinegar wholesale business at the height of prohibition. Despite several investigations, Jacobs maintained his products were “not intoxicating and (were) in keeping with the laws of the state,” according to a Ross Group statement.
The building was purchased by developer Michael Sager in the late 1970s and used as nightclubs and a restaurant. At a jackhammer ceremony in March 2007, he announced plans for the structure’s transformation into apartments, but a stagnant economy and subsequent other factors stalled the project.
Ross Group worked with Sager and the Tulsa Development Authority to resurrect the plans, which were jumpstarted by Ross Group’s purchase of the building.
http://www.tulsaworld.com/business/realestate/jacobs-lofts-honors-downtown-building-s-legacy-with-new-name/article_5e07b575-e6d7-5183-a280-13033d5ea49e.html