Where is the v2025 dowtown residential money???

[brunoflipper]

stolen from oil capital- "...The city awarded funds to 4 projects a very long time ago and so far only one has even started any construction. Kanbar pulled his off the list; The 420 Mayo appears to have stalled, or whatever... The Mayo Hotel, last we heard, is supposed to start work this month (but of course earlier start dates have come and gone with no activity; I'm not holding my breath on this one either."

what gives?
these have all stalled...
for $1.3 million, sager has a gutted shell... he claimed he was "back on track" in september and yet we have no movement...
and yes i read the ut article two months back but it sounds like flash and bull****
http://www.urbantulsa.com/gyrobase/Content?oid=18186

as for the future tribune lofts expansion and the conversion to own vs. lease, they have to have a percentage of buyers within 6 months or the plan is gone (both the expansion and conversion)... in the month and half since it was announced, they've sold 0 units to new buyers  or even current tenants...

[inteller]

quote:Originally posted by brunoflipper

stolen from oil capital- "...The city awarded funds to 4 projects a very long time ago and so far only one has even started any construction. Kanbar pulled his off the list; The 420 Mayo appears to have stalled, or whatever... The Mayo Hotel, last we heard, is supposed to start work this month (but of course earlier start dates have come and gone with no activity; I'm not holding my breath on this one either."

what gives?
these have all stalled...
for $1.3 million, sager has a gutted shell... he claimed he was "back on track" in september and yet we have no movement...
and yes i read the ut article two months back but it sounds like flash and bull****
http://www.urbantulsa.com/gyrobase/Content?oid=18186

as for the future tribune lofts expansion and the conversion to own vs. lease, they have to have a percentage of buyers within 6 months or the plan is gone (both the expansion and conversion)... in the month and half since it was announced, they've sold 0 units to new buyers  or even current tenants...

sounds like money that needs to be reallocated to build those PROMISED low water damns.

[sgrizzle]

The housing was promised too...

1st St lofts had workers in it last I saw. Kanbar was extremley forthright in giving his money up. It will then get reallocated at a later date for another project. I think they review these every year or 6 months, something like that.

[Conan71]

If true demand and willingness to live in the area is there, you'd think these projects would be moving along.

I'm astounded they have not sold a single unit at Tribune lofts in six weeks.

Sounds like there are a lot of people who complain about lack of downtown housing, but none of them are people who would live there in the first place.

[PonderInc]

But you have to factor in the holidays and the ice storm.  Six weeks ago was approximately Thanksgiving, followed by the ice storm, followed by Christmas and New Years (and all those lame football bowl games).  I don't know about real estate, but most companies/organizations I know are pretty much dormant during this timeframe...and the ice storm only added to the typical holiday sluggishness.

[Renaissance]

I'm a bona fide sunshine pumper, but the sluggish pace of downtown development is pandemic on all fronts.  I don't think anyone is asking why there aren't hundreds of pedestrians on the streets every night, but it's reasonable to ask why construction hasn't started.  The whole point of these grants was to jumpstart residential development.  I know the board has a lot on its hands, but it might be time to get aggressive with the grantees.

[T-TownMike]

Downtown needs destinations. Some major draws would go a long way in getting people to spend time and then possibly decide to live there. Until downtown is fully sustainable, then it will continue to struggle. Folks, need to realize that any and all activity in downtown is good. There are pockets of progress, but without more major musuems, and destinations that bring people downtown it will be more of the same. It's time to get better city planning. Tulsa should seriously consider putting an open air type retail/dining area right beside the arena or very close. Some 2nd or 3 story balcony tops would be most cool and what a view. Tulsa needs to encourage the masses to come see a concert and dine before and after an event. I have visions of grandeur for downtown, but it doesn't seem the leaders know how to encourage growth and make the most out the money they have allocted for such things.

Here's a good project that is in close proximity to the Sprint Arena in KC...

http://rewebportal.com/powerandlight/index.php?option=com_content&task=view&id=31&Itemid=46

[Vision 2025]

To the thread question:

First Street Lofts - The renovation plans are complete and the final building permits were recently issued. Presently the project is under construction (slowly, but progressing) with much demolition complete and the elevator tower now well up and proceeding.  The first pay application from the developer is being processed.  I anticipate completion in about 12-14 months from now.

This will be a very interesting project and includes some nice basic amenities including a roof top terrace for residents.

Mayo Hotel - Preliminary improvements (fire proofing and a new fire riser) required to allow for construction to occur while the existing occupancy remains is essentially complete and the Design work for the redevelopment is presently underway.  The first pay application has been processed.  The schedule indicates this project would be complete approximately 18 months from about now.

No design or major features to share.  However, with the size of this project I anticipate various promotional relaeases.

These are the only two projects currently under contract with the City/TDA, at least that I am aware of.

[swake]

I guess Wiggin Properties has never completed a deal with TDA on Mayo Place. It would be time to lean on and probably pull the grant offer on that project and move on to someone that will actually do something.

[OKC_Shane]

The opening of BOK Center will be the biggest turning point in DT Tulsa residential- more businesses buying/renting corporate units to treat employees to nights on the town, more people coming to downtown and realizing "this is cool...", and more money in general flowing around the restaurants and retail businesses. I think the DT residential money was one of the best things V2025 had to offer so hopefully it will have another project to be bestowed upon too.

quote: I guess Wiggin Properties has never completed a deal with TDA on Mayo Place. It would be time to lean on and probably pull the grant offer on that project and move on to someone that will actually do something.

This is the same Wiggin Properties working on the Overholser Green project in Midtown OKC? Yeah, I'm pretty sure they're useless. They turn in a grand proposal to OCURA to beat another developer for the right to build on the land, and then say they're scaling the project down by like 40 units and still haven't even begun to make the site look like they're working.

[swake]

quote:Originally posted by OKC_Shane

The opening of BOK Center will be the biggest turning point in DT Tulsa residential- more businesses buying/renting corporate units to treat employees to nights on the town, more people coming to downtown and realizing "this is cool...", and more money in general flowing around the restaurants and retail businesses. I think the DT residential money was one of the best things V2025 had to offer so hopefully it will have another project to be bestowed upon too.

quote: I guess Wiggin Properties has never completed a deal with TDA on Mayo Place. It would be time to lean on and probably pull the grant offer on that project and move on to someone that will actually do something.

This is the same Wiggin Properties working on the Overholser Green project in Midtown OKC? Yeah, I'm pretty sure they're useless. They turn in a grand proposal to OCURA to beat another developer for the right to build on the land, and then say they're scaling the project down by like 40 units and still haven't even begun to make the site look like they're working.

Yes, that would be the same company.

[spoonbill]

quote:Originally posted by Conan71

If true demand and willingness to live in the area is there, you'd think these projects would be moving along.

I'm astounded they have not sold a single unit at Tribune lofts in six weeks.

Sounds like there are a lot of people who complain about lack of downtown housing, but none of them are people who would live there in the first place.

You hit the nail on the head.  No one can sell the residential they have downtown, so why move forward to build more.  Tribune Lofts can't even get any corporate buyers interested.  

Mayo just has an architect that can't get anything in budget and now faces the prospect of having to charge an unbelievable price for living space.

Kanbar and his life-partner are not getting any younger, but they were smart enough not to throw their money away on a city that is simply about 30 years away from urban living to become attractive.

[Rico]

^
"The opening of BOK Center will be the biggest turning point in DT Tulsa residential- more businesses buying/renting corporate units to treat employees to nights on the town, more people coming to downtown and realizing "this is cool...", and more money in general flowing around the restaurants and retail businesses." OKC_Shane



So I guess what you are saying is to "throw out the cheese before installing the mouse trap"...?
Makes sense..... they get used to eating the cheese and keep coming back for say 18 months to 2 years while DT plays catch up.

One question. What retail are you referring to?

not trying to be real negative here but the burbs and their Realtors are going to maximize on this situation.

[TheArtist]

Look at the timescales mentioned for the projects already started, a year, a year and a half.... I have mentioned in other threads that it takes a lot of time for these things to get done. We may have heard the announcements and such last year or the year before, but it will still take until 2009 for even these to get done. Thats also about the date for the Matthews bldg remodel and museum.

It was a shame we didnt get an East End type development, hotel by the arena. Those things would have spurred interest in moving downtown because you would at least know that in 4 years or so something would for sure be happening. Until we get another East End development and or the Baseball stadium. Its gonna take a looooong time to develop enough "critical mass" and interest in downtown.

I really hope we get a real announcement of something major downtown this year. That will help fill those lofts that are now being built off of the hope that was created earlier, and possibly get other things started in the next few years to be finished in a few years after that.

[Gaspar]

We got somthing like $375,000 in 2025 money for Helms Park in our neighborhood at 81st and Harvard.  They delivered a new swing set, a new slide, and a dumptruck full of mulch for the playground.

Oh! and a big sign that said 2025 project.

It was about $1,000 in mulch and I bet the nice playground equipment must have cost at least $4,000.  So I guess the sign cost $370,000.

And the neighbors had to load wheelbarrows with mulch and put it under the playground equipment.  All the contractor did was deliver it with dump-truck in a 15 foot tall pile.  Took about 6 of the neighborhood dads 4 days to transport it all.

Last time I ever vote for a project.