Don't all those colors look goofy on the facade, or am I off?

The "splashes of color" don't do much.

Underwhelming to say the least but still an improvement. Seems like no one will spend big bucks outside of downtown area or Chisholm creek.

They spent a ton on Founders Tower very nearby.

The owners of this property wanted to do something much more ambitious but local lenders are not on board. Local projects require local lenders and their lack of vision is the issue here, not the developer.

For the last couple of weeks there has been a ton of Fire Department training on this building. It has been pretty cool to watch.

The colors are horrible but it's better than it being adandoned.

I understand they have finally obtained financing so this project should begin moving forward soon.

I do think that is ugly as sin, but I'm glad it won't be a vacant property any longer. However, with those colors, it may stay vacant... :tongue:

The colored panels kinda remind me of the arts district parking garage.

For the last couple of weeks there has been a ton of Fire Department training on this building. It has been pretty cool to watch.

Where did our "residents" go while said training was being done?

Where did our "residents" go while said training was being done?

They are usually on the corners of NW Expressway with a sign.

Fire Dept training.

http://www.okctalk.com/attachments/development-buildings/11457d1441828142-tiffany-apartments-tiffany.jpg

Just cleaned up and inhabited again, this property would look so much better.

Hey, chief.
Go ahead Severide.

Fire's out. Copper too.

Hey, at least there's no water running out of the building in the rendering.

Those wavy blue panels kinda look like water running out of the building if you look at them in a certain way...

Wow, that is hideous! Can we get the original renderings back, or at least something close to it???

Wow, that is hideous! Can we get the original renderings back, or at least something close to it???

See Pete's post #283 on why the original renderings won't work.

There is a gentleman out there who has started taking down the sheet metal on the covered parking. I'm guessing this is going to get started soon?

They plan to start work in February.

Good to hear. This complex has a great location and should fill very quickly when completed.

The owner/ developer just had a devil of a time securing financing, as local companies are very wary of high-rise residential because there has been so little of it in town.

Had to get very creative. Sure will be nice to get a few of these projects done so the financing will start to flow more easily.


Looking forward to this going from eyesore to full and alive.

The owner/ developer just had a devil of a time securing financing, as local companies are very wary of high-rise residential because there has been so little of it in town.

Had to get very creative. Sure will be nice to get a few of these projects done so the financing will start to flow more easily.


Looking forward to this going from eyesore to full and alive.
High-rise residential looks cool to me. And it seems a lot more cosmopolitan. I think there should be more high-rise residential downtown as well.

Next weeks HP Commission meeting has some information on the nomination of this property to the National Register. There are some cool photos of the building that I can't seem to cut and paste here.

There are some cool photos of the building that I can't seem to cut and paste here.

See if Pete can help you. I'd sure like to see them.

Is this still set to be remodeled in the coming months?

Still moving forward, just slowly.

The owner filed it to be rezoned for mixed use. Hearing before the planning commission is scheduled for April 14th.
Case number: SPUD -887

Sure would be cool to sneak a little dive bar into it somewhere. The kind of place where nobody knows your name and you can have a drink without bumping into people who want to talk about work.

ATTENTION:

(SPUD-887) Application by GF 5 Properties, LLC, to rezone 5505 North Brookline Avenue
from SPUD-673 Simplified Planned Unit Development District, R-4 General Residential
District and O-2 General Office District to SPUD-887 Simplified Planned Unit
Development District. Ward 2.

12502

Here are the latest plans which should finally be finalized...

Basically renovating the building and adding a 3-story structure to the west; 2 levels of apartments (24 units), parking on level 1 and a rooftop pool:



http://www.okctalk.com/images/pete/tiffany040816a.jpg


http://www.okctalk.com/images/pete/tiffany040816b.jpg


http://www.okctalk.com/images/pete/tiffany040816c.jpg


http://www.okctalk.com/images/pete/tiffany040816d.jpg

How does their proposed parking layout going to work with the church to the south of this property?

12503

How does their proposed parking layout going to work with the church to the south of this property?

The new building will be west of Tiffany where the covered parking is now. The church won't be impacted.

I wish the original (pictures at the top) plans could have come to fruition.

The good news is lasomeday should be able to get us plenty of pictures during construction, being in 3030 NW Expressway.

I wish the original (pictures at the top) plans could have come to fruition.

Coudn't get the financing.

As I explained earlier, commercial projects almost require local lenders and no one here has an appetite for mid- and high-rise apartments, simply because it's unproven ground.

If anything, this project could help pave the ways for others.

Coudn't get the financing.

As I explained earlier, commercial projects almost require local lenders and no one here has an appetite for mid- and high-rise apartments, simply because it's unproven ground.

If anything, this project could help pave the ways for others.

I certainly hope it does.

Mayfair Hills Neighborhood UPDATE

The rezoning request for the proposed Tiffany Tower apartment redevelopment project was withdrawn Thursday, meaning it was not heard or acted on by the Oklahoma City Planning Commission.

I spoke with the attorney who presents the Tiffany developer and who happened to be at the Planning Commission meeting on another case. He said the Tiffany zoning request was withdrawn because the developer is seeking state tax credits because of the historic nature of the Tiffany Tower. An application to have the Tiffany building added to the National Register of Historic Places has been underway for some time. David Box, the attorney, said the developer wants to have the tax credit issue wrapped up before a final plan is submitted to the Planning Commission for approval. He had no idea how long it would be delayed. However, he did confirm the tax credit issue will not change the proposed plan for the Tiffany site.

^

Yes, I forgot to mention they had applied for this.

Hope they get it and this project starts moving forward.

Owner attempts to revive Tiffany apartments in Oklahoma City | News OK (http://newsok.com/owner-attempts-to-revive-tiffany-apartments-in-oklahoma-city/article/5494374)

It appears the owner obtained a lot split from the church for the additional surface parking they needed, and they took out a small mortgage to do so this week.

Deed: http://countyclerk.oklahomacounty.org/roam/search.do?indexName=okdetails&templateName=Details_SN&lq=Instrument%3A%2220160602010782790%22

It appears the owner obtained a lot split from the church for the additional surface parking they needed, and they took out a small mortgage to do so this week.

Deed: http://countyclerk.oklahomacounty.org/roam/search.do?indexName=okdetails&templateName=Details_SN&lq=Instrument%3A%2220160602010782790%22

did I read that correctly? $10 for the land?

^

That is the standard amount for 'consideration' which is necessary for a real estate contract.

The exact amount is usually stipulated elsewhere.

Yeah similar to oil and gas lease records, you almost never see the bonus or exact payment amount disclosed anywhere in the County Clerk's office.

Still boarded up but should finally be starting work soon:

http://www.okctalk.com/images/pete/tiffany121516.jpg

Had dinner with a friend and some of his friends. Met a guy working for the Architect firm doing this building. he said it has been a nightmare of a project. I will be glad to see something moving.

Here is a link to the National Register of Historic Places Registration Form:

It has a great narrative and history with photos of the current interior, and am glad to have this project next to my neighborhood.

https://www.nps.gov/nr/feature/places/pdfs/16000375.pdf

I think they are about to start saw on the OKC permits that their were permits issued for the project.

Id be curious what the nightmare the architect describes entails. I'm sure the building has a lot of things to bring it up to current code, but that shouldn't be a nightmare. If they aren't really gutting the place, then I'm sort of confused on what all they think there is to do. The expansion plans didn't seem that crazy either....so we must be missing something complex that they are aware of. Did the city spring some rules on them?

By far the biggest obstacle was getting financing for a semi high-rise apartment building.

None have been built / highly renovated in OKC, apart from Founders Tower and The Classen, which were both condo conversions.

Any bank that's only willing to finance garden-style apartments in a metro of 1.4 million is not a savvy real estate operation.

Conversely, I'm used to working on deals that get killed early bc of too much new inventory that a market is absorbing right now. Especially with strict underwriting scenarios like HUD MAP etc, which I think OKC would be a great market for.

It would seem like there's a tremendous opportunity for a developer/lender partnership that fundamentally believes in bringing OKC real estate into the 21st Century.

There is a lot of activity there today. A small lift, new dumpsters, 8 trucks, and varies metal beam structure things. I think this is a go.

They have their building permits and are cranking it up.

Have the squatters moved on?

So which was the final design o. This?

Works starts on renovation and expansion of long-shuttered Tiffany Apartments (http://www.okctalk.com/content.php?r=351-Works-starts-on-renovation-and-expansion-of-long-shuttered-Tiffany-Apartments)

Ferguson Property Group of Memphis has started work on a $27 million project to completely renovate the 12-story Tiffany Apartments at NW Expressway and May Avenue.


http://www.okctalk.com/images/pete/tiffany122916b.jpg


The highly-visible property has been vacant for several years after Ferguson bought it in 2008. Over the last few years it has been a magnet for vandals and vagrants.

Completely gutted back to its poured-in-place concrete walls, the new Tiffany will feature substantially larger 1- and 2-bedroom units with completely modern interiors.

A new 3-story building with a pool over covered parking will be added to the west bring the total number of rental units to 150.


http://www.okctalk.com/images/pete/tiffany122916c.jpg


Built in 1966 with few changes made since, the old Tiffany was badly outdated with an average apartment size of less than 500 square feet.


http://www.okctalk.com/images/pete/tiffany122916a.jpg

http://www.okctalk.com/images/pete/tiffany121516.jpg


Future amenities include include a fitness center, yoga studio, resident lounge, doorman/concierge service, dog park, coffee bar, and convenience store.

Principal Glenn Ferguson had sought to do a more ambitious addition but discovered an un-recorded water line that would have been cost-prohibitive to move.

With large balconies on the east and west sides, The Tiffany offers excellent views of downtown and Lake Hefner.

Construction will be complete in spring of 2018.


http://www.okctalk.com/images/pete/tiffany123016.jpg

By far the biggest obstacle was getting financing for a semi high-rise apartment building.

None have been built / highly renovated in OKC, apart from Founders Tower and The Classen, which were both condo conversions.

I can confirm that finding financing was the hardest part, also, they redid the project completely and that took time. In addition to all of that, when I looked at it, the average rental rate was going to be $2/sf. Now, most of apartments are sub-1,000sf, so the tenant would be paying $1,000/month for a 500 sf apartment. That doesn't apply anywhere in the metro area, except for a few apartments in The Classen and the Montgomery.

Drove by today and demo is well under way. Sent Pete a few pics.

From warreng88:

http://www.okctalk.com/images/pete/tiffany011917.jpg

They are really going to town now.

Completely demoing the inside and already doing prep work in the back for the new addition.



http://www.okctalk.com/images/pete/tiffany012717a.jpg


http://www.okctalk.com/images/pete/tiffany012717b.jpg

You can see straight through the building now as the interior seems to be completely demolished.

http://www.okctalk.com/images/pete/tiffany040217.jpg