A grassroots organization focused on the intelligent and sustainable development, preservation and revitalization of Tulsa.
 
Welcome, Guest. Please login or register.
Did you miss your activation email?
December 06, 2019, 12:04:21 pm
Pages: [1]   Go Down
  Print  
Author Topic: $75 million development proposed for 36th Street North corridor  (Read 777 times)
brettakins
Activist
**
Offline Offline

Posts: 63


« on: February 08, 2019, 07:48:06 am »

$75 million development proposed for 36th Street North corridor
https://www.tulsaworld.com/business/million-development-proposed-for-th-street-north-corridor/article_8de89f6a-71c1-560e-9298-e666b401f5b8.html

Quote
A local real estate development company has proposed about a $75 million mixed-used investment designed to be catalyst for the 36th Street North corridor.

The Tulsa Development Authority on Thursday OKd the contents of a financial assistance agreement that would include up to $15.5 million in public aid and voted to enter into redevelopment talks with Alfresco Group LLC.

The three-part project would include a 105-room boutique hotel, a 265-unit multifamily complex (second phase) and a 50-unit multifamily community (third phase) with a total of 63,000 square feet of retail space at 36th Street North and Martin Luther King Boulevard.
Logged
Rattle Trap
Activist
**
Offline Offline

Posts: 64


« Reply #1 on: February 08, 2019, 11:43:36 am »

This is right down the road form that new Osage casino. Casinos are casinos but I thought them building a larger one there would be good for the area. It's pretty amazing what building the Hard Rock did for that surrounding area in Catoosa. If something similar can happen there in North Tulsa that would be really good.
Logged
TulsaGoldenHurriCAN
City Father
*****
Offline Offline

Posts: 1172



« Reply #2 on: February 08, 2019, 02:06:35 pm »

I wonder on these TIFs, will they affect current business owners around there? Do they affect homeowners' taxes? It seems like a massive tax break but they said they assured that it only applies if the developer delivers.

$15 million tax break for a $75 million investment is massive. That's almost ludicrously high! People complained about the tax breaks Amazon was receiving... This is right up there on that same level percentage-wise but without the same level of permanent jobs.
Logged
DTowner
City Father
*****
Offline Offline

Posts: 1401


« Reply #3 on: February 08, 2019, 03:32:26 pm »

My first thought was that it is somewhat odd that the hotel is the first thing to be built.  Then I saw the announcement about Muncie Power Products moving to the new Peoria-Mohawk Business Park and it makes a little more sense.

The expanded Osage Casino may bring more economic development to this stretch of 36th St. North, but not likely this far over in the next few years to match up with the opening of this new hotel.
Logged
TulsaGoldenHurriCAN
City Father
*****
Offline Offline

Posts: 1172



« Reply #4 on: February 08, 2019, 04:04:23 pm »

I'm guessing the hotel is more for the casino considering that proximity.

A 240-employee manufacturing facility will not make a dent in hotel capacity. That might only bring in a few out-of-towners a week, if that.

It is depressing that hotel areas turn into these little copy-paste American hubs with all the gross car-centric development to go with it. But on the upside, at least it might be a dying business model: https://www.tulsaworld.com/business/nevada-s-largest-casinos-report-b-loss-in-fiscal/article_00a7f918-0162-5e0d-841c-efd64221fb9a.html

Losing money is pretty ridiculous when their whole model is mathematically challenged idiots literally giving them cash for nothing.
Logged
Pages: [1]   Go Up
  Print  
 
Jump to:  

 
  Hosted by TulsaConnect and Powered by SMF 1.1.21 | SMF © 2015, Simple Machines
 

Mission

 

"TulsaNow's Mission is to help Tulsa become the most vibrant, diverse, sustainable and prosperous city of our size. We achieve this by focusing on the development of Tulsa's distinctive identity and economic growth around a dynamic, urban core, complemented by a constellation of livable, thriving communities."
more...

 

Contact

 

2210 S Main St.
Tulsa, OK 74114
(918) 409-2669
info@tulsanow.org