NW 13th & Walker (http://goo.gl/maps/aDGh7)
owner=Gary Brooks
cost=$34 million
252 apartments plus retail

http://www.okctalk.com/images/pete/edgewiki1.jpg
Information & Latest News
3/30/13: Site work under way (http://newsok.com/article/3778084)
6/26/12: $34 million building permit BLDC-2012-05259
1/14/12: Heritage Hills residents protest (http://newsok.com/heritage-hills-residents-protest-upcoming-oklahoma-citys-midtown-housing-development/article/3640250)
6/21/11: Developer chosen (http://newsok.com/article/3578955)
5/17/11: Developers pitch plans (http://newsok.com/developers-pitch-housing-plans-for-old-mercy-hospital-site/article/3568726)
3/10/11: Five groups compete (http://newsok.com/5-groups-compete-to-develop-former-mercy-hospital-site-in-midtown-okc/article/3547482)
Links
https://www.facebook.com/TheEdgeAtMidtown
https://twitter.com/EdgeAtMidtown
http://www.edgemidtown.com/
County Assessor Record 1 (http://www.oklahomacounty.org/assessor/Searches/AN-R.asp?ACCOUNTNO=R045800050)
County Assessor Record 2 (http://www.oklahomacounty.org/assessor/Searches/AN-R.asp?ACCOUNTNO=R045811000)
County Assessor Record 3 (http://www.oklahomacounty.org/assessor/Searches/AN-R.asp?ACCOUNTNO=R045800050)
Gallery

I want to know as well. That whole site is ripe as ever for new development. But I think I'd rather have something other than the Overholser Green project itself. Hopefully that has croaked and a new developer may come in the near future and propose something more grand. Anyways, yeah, deep interest for that site.

With financing the way it is, condos are dead for the foreseeable future.

I would say it's "unofficially dead."

it should be a dead project and the property should be let out for new proposals...

it should be a dead project and the property should be let out for new proposals...

Agreed, Overholser is a treasure, perhaps we should bring in Robert Ballard to discover it again.

That is such a prime spot with all the restaurants and bars right there. Hopefully soon there will be a new RFP.

Urban Renewal is scheduled to discuss Overholser Green's development agreement on the 15th. The developer has asked for an extension to the agreement. I would sure like to see something done on this site. I would rather see more restaurants, bars and/or retail than over priced condos.

Urban Renewal is scheduled to discuss Overholser Green's development agreement on the 15th. The developer has asked for an extension to the agreement. I would sure like to see something done on this site. I would rather see more restaurants, bars and/or retail than over priced condos.

There is another thread on this, but other parties are interested in the site, such as Tanenbaum.

Was up on 13th yesterday. Looked like some sort of utility work was being done in that empty lot. Whether it was just normal maintenence or the developers doing something is anyone's guess.

"Is Overholser Green officially dead?"
Nope.

I want to put a knife through it's pathetic little heart. >:]

"Is Overholser Green officially dead?"
Nope.

Steve, this sounds positive. Anything due to happen anytime soon? High quality infill there would be great. I think midtown is the place that us non 20 somethings might like to live in for an uptown feel.

I just noticed a report that 2 developers are now competing for the site. Who are they? Do they already have projects they are proposing?

Not positive. Not negative. You've got Chuck Wiggiin, who has no financing, who has lost needed public financing, but wants a one-year extension to try to resurrect the project as mixed use apartments and retail. And then there's Richard Tanenbaum, who has a completely different idea of what should happen. I'll have the story in the morning.

Two developers vie for site in OKC’s Midtown
By Brianna Bailey
Journal Record

OKLAHOMA CITY – Two developers are battling for the rights to build on the old Mercy Hospital site at NW 13th Street and Walker Avenue in Midtown after plans for a $36 million luxury condominium complex there fell through when the housing bubble burst.

The Oklahoma City Urban Renewal Authority selected developer Chuck Wiggin in 2008 to develop a high-end condominium project called Overholser Green on the Mercy site. The subprime mortgage crisis began soon after the deal was signed and financing for the project never materialized.

The Oklahoma City Council on Tuesday rescinded an earlier vote awarding $1.75 million in tax increment financing funding for the Overholser Green project because the initial timeline for the project had elapsed.

Now developer Dick Tanenbaum has designs on the old hospital site and says he can build there without using any tax dollars.
Tanenbaum’s firm Gardner Tanenbaum Group wants to build a 270-unit apartment complex with on-site parking and already has $20 million in financing in place from Comerica Bank for the project, he told the Urban Renewal during a tense regular meeting of the authority on Wednesday.

“We have indentified the fact that there is a tremendous demand for this type of housing in the Midtown area,” Tanenbaum told members of the Urban Renewal Authority. “We have funding; we have the plans; we have the leasing people and we’re ready to go.”

Wiggin asked Urban Renewal to give him an extension on a contract to develop the Overholser Green project, citing economic circumstances beyond his control for the delay. His firm Wiggins Properties has already invested roughly $200,000 in revising the project after the housing market took a turn, he said in a letter to Urban Renewal.

“I challenge anybody to find a project like this that has been built during the same time,” Wiggin said.

Urban Renewal Commissioner Fred Hall advocated giving Wiggin until March to make significant progress on the Overholser Green project before issuing a new request for proposal for the site.

The board eventually decided to hold off voting on issuing a new request for proposal for the Mercy site until its next monthly meeting, because two of its members, Russell Perry and Mary Mélon, were absent.

Wiggin’s original concept for Overholser Green included high-end housing for the well-to-do empty-nest set, with 109 units of luxury condominiums starting at about $350,000 per unit.

Now Wiggin wants to recast the project, with smaller, less expensive rental units. The project also would include some retail space, to take advantage of federal new markets tax credits. Wiggin also would reapply for TIF funding, he said.

Tanenbaum told Urban Renewal on Wednesday he did not need any public financing for his proposed Mercy apartment development and could have the project built and ready to lease in a year’s time.

Wiggin said that timeline was unrealistic and that any project on the Mercy site would take longer to build.

“I don’t think that this is the site for fast-track, work force housing,” Wiggin said. “I think this will take longer than anyone would like it to take.”

Tanenbaum wants to build trash in Midtown. 275 units in one year. Give me a break. That means he takes his ugly Lincoln and downgrades it more. 275 is way too many! Every development in Midtown should be less than 100 to fit in with the developing culture and environment.

Tanenbaum told Urban Renewal on Wednesday he did not need any public financing for his proposed Mercy apartment development and could have the project built and ready to lease in a year’s time.

Wiggin said that timeline was unrealistic and that any project on the Mercy site would take longer to build.

“I don’t think that this is the site for fast-track, work force housing,” Wiggin said. “I think this will take longer than anyone would like it to take.”

Wiggins is so right about Tanenbaum. Tanenbaum submitted a proposal to the 10th Street medical district for land at the old Red Cross site and told the 10Th street medical district he didn't need any financial assistance and after he was awarded the site he started making demands. He withdrew from the project saying he knew where cheaper land was Midtown. Seems like he is all about the cheap. Please Urban Renewal don't mess up Midtown.

Urban Renewal Commissioner Fred Hall advocated giving Wiggin until March to make significant progress on the Overholser Green project before issuing a new request for proposal for the site.

He's already had two years!! How many deadlines have already come and gone?

AND, since he plans to make substantial changes to his original proposal, the RFP should be reissued and his new plan should be judged against any others that wish to apply.

I wonder if there is a third way...

He's already had two years!! How many deadlines have already come and gone?

AND, since he plans to make substantial changes to his original proposal, the RFP should be reissued and his new plan should be judged against any others that wish to apply.

I don't know why this is not common sense to most people.

Right now I would be happy with quick and dirty in-fill projects (not saying that is what Tanenbaum is proposing). Urban development has to go is phase. Step one is using up all available surface space. Once horizontal saturation is reached, then things can go vertical. There are too many vacant lots in the downtown OKC area.

I wonder if there is a third way...

Enter Marva Ellard...?

http://www.newsok.com/article/3495466?searched=Chuck%20Wiggin&custom_click=search

This is interesting stuff. Has Tannenbaum presented any images/site plans that show what he has in mind?

Wiggins is so right about Tanenbaum. Tanenbaum submitted a proposal to the 10th Street medical district for land at the old Red Cross site and told the 10Th street medical district he didn't need any financial assistance and after he was awarded the site he started making demands. He withdrew from the project saying he knew where cheaper land was Midtown. Seems like he is all about the cheap. Please Urban Renewal don't mess up Midtown.

Tanenbaum denies all this. It's easy to make such allegations behind a fake name with no evidence. I would appreciate if what you're saying is true. to somehow contact me and provide with me the proof or source of such info.

Yep. Lets have all the cards laid out on the table. Most everyone who is interested in downtown/midtown wants to know.

He's already had two years!! How many deadlines have already come and gone?

AND, since he plans to make substantial changes to his original proposal, the RFP should be reissued and his new plan should be judged against any others that wish to apply.

So true. I was never a big fan of the overholser green concept, but if he isn't going to build that, it should be opened back up. Period. It makes no sense at all to even have an urban renewal if what they approve is not built, no matter what. They have already set a precedent several times that you can significantly change an approved concept without any consideration. Allowing Wiggins to now build whatever he wants without looking at other proposals before construction has even started would make it even worse.

Why have any review process if it never matters? Even if what 'city' accused Tannenbaum of doing didn't really happen, there is no reason to fault him for it if it did happen. OCURA operates in such a way that, really, that is what any developer with their investors in mind SHOULD do. Approval comes with absolutely no requirements, and, once approved, you can pretty much do whatever you want.

Why can't we have both developers build their projects?

Maybe not at the Mercy location, but there is more than enough large open areas very close by that would work, especially if they are scaling the projects down from the originally planned.

I would recommend taking away the approval of OG by Wiggins and see if the city can't help him find another location to build on nearby. Also the city could help broker a deal for Tannenbaum at another site as well. Look at the map of midtown, and see all of the large open areas.

It's really a shame that these two developers both want this piece of land when there is much more land available.

you need to look at the land and figure out who owns it. Too many of the pieces are just being held hoping someone else will develop near by and they can run all the way to the bank then.

That is why I am suggesting the city get involved and help broker the deal with these two developers and the land holders in this area.

I think that the Mercy site is to valuable of a piece to just settle for something because the economy is down.

I doubt Tanenbaum will build anything less than quality in downtown..

I doubt Tanenbaum will build anything less than quality in downtown..

If that's the case, then you should expect Urban Renewal to do everthing in its power to ensure Tanenbaum doesn't get to build there. They're fighting as hard as they can to ensure we get no quality developments.

If that's the case, then you should expect Urban Renewal to do everthing in its power to ensure Tanenbaum doesn't get to build there. They're fighting as hard as they can to ensure we get no quality developments.

You almost have a point, even though I know you meant that facetiously. The reality is that OCURA isn't corrupt and isn't working against downtown as an evil agent of Edmond or something, but they have a few priorities that they are very good at sticking to, and they are the wrong priorities.

High-end, owner-occupied, and for-sale are the things they are looking for because they're still living in 2005.

You almost have a point, even though I know you meant that facetiously. The reality is that OCURA isn't corrupt and isn't working against downtown as an evil agent of Edmond or something, but they have a few priorities that they are very good at sticking to, and they are the wrong priorities.

High-end, owner-occupied, and for-sale are the things they are looking for because they're still living in 2005.


Nothing wrong with high-end, owner-occupied, they just have a reverse-Midas touch when it comes to selecting developers.

Those are just the developers offering what they want sadly.

http://www.newsok.com/okc-main-street-urban-renewal-faces-challenges/article/3499225?custom_click=pod_headline_business

http://www.newsok.com/okc-main-street-urban-renewal-faces-challenges/article/3499225?custom_click=pod_headline_business

I hope neither Tanenbaum or Wiggins is planning the equivalent of a high-end Denny's. I know nothing about them, so I can't say.

http://newsok.com/new-proposals-to-be-sought-for-overholser-greens-project/article/3506571?custom_click=headlines_widget

Anyone have a new proposal?

Yes Tanenbaum does

Yes Tanenbaum does

...and financing. I hope they fast-track this. Step one in creating multi-story density is to use up all available ground space. Then the only option is to go vertical.

I do like that OCURA is finally ready to move on with new proposals, and maybe as soon as next month. It will be interesting to see what happens next.

Will OCURA make the right choice?

To answer the title of this thread, the answer is "yes."

Great decision by OCURA and kudos to Wiggin for stepping aside and making it easy to reopen the process.

And this is no easy thing for either party, as Wiggin had invested quite a bit of money to develop his proposal(s) and OCURA wanted to respect that.


Hopefully Tannebaum or someone else will produce a solid proposal.

Great decision by OCURA and kudos to Wiggin for stepping aside and making it easy to reopen the process.

And this is no easy thing for either party, as Wiggin had invested quite a bit of money to develop his proposal(s) and OCURA wanted to respect that.

Maybe so but I think the people of OKC have sacraficed more than anyone.

Can someone explain why OCURA is so hot to trot on approving projects which have no financing? Shouldn't a letter or some proof of financing be required before a developer is essentially given a gift by the taxpayers?

Can someone explain why OCURA is so hot to trot on approving projects which have no financing? Shouldn't a letter or some proof of financing be required before a developer is essentially given a gift by the taxpayers?

You get into a "Catch 22". Projects have to be documented to a certain point and financing commitments are coming late in the process these days. Financing agreements will be contingent on certain things happening, such that even if awarded the project, the developer can run into any number of issues which will invalidate their financing agreements. So, money isn't actually "in the bank" at the time OCURA (or others) have to choose the developer. They have to go on the developer's financial wherewithall and their history of delivering, as well as the profile and capabilities of the implied financing partner. In some ways, OCURA would have to have a crystal ball, and then sometimes the ball is dropped and cracked.

I wouldn't hold my breath that Tanenbaum will get this piece of land. Seems like a lot of posturing on Wiggin's part and we know U.R. is a good ole boy network and buddies with Wiggin.

You get into a "Catch 22". Projects have to be documented to a certain point and financing commitments are coming late in the process these days. Financing agreements will be contingent on certain things happening, such that even if awarded the project, the developer can run into any number of issues which will invalidate their financing agreements. So, money isn't actually "in the bank" at the time OCURA (or others) have to choose the developer. They have to go on the developer's financial wherewithall and their history of delivering, as well as the profile and capabilities of the implied financing partner. In some ways, OCURA would have to have a crystal ball, and then sometimes the ball is dropped and cracked.

So maybe OCURA needs to at least set developers on something of a timeline? This project has taken a ridiculous amount of time to wither on the vine. At least make would-be developers liable for taxes and rental value of the land while they keep it tied up should the project fail.

I wouldn't hold my breath that Tanenbaum will get this piece of land. Seems like a lot of posturing on Wiggin's part and we know U.R. is a good ole boy network and buddies with Wiggin.

So how do "we" know that they're buddies with Wiggin?

Can someone explain why OCURA is so hot to trot on approving projects which have no financing? Shouldn't a letter or some proof of financing be required before a developer is essentially given a gift by the taxpayers?

This is why I would favor an auction of all OCURA land to the highest bidders. Get these land back in the hands of the private sector and start collecting taxes on it.

It would just sit for speculation.

It would just sit for speculation.

It has just been sitting vacant for 40 year anyhow. That is 40 years of taxes the city missed out on.

This is why I would favor an auction of all OCURA land to the highest bidders. Get these land back in the hands of the private sector and start collecting taxes on it.

there is a huge risk with this strategy, Kerry - as we have seen a few times in and around Bricktown. Need I say what that risk is?

'investor buys property but then sits on it, hoping for a big flip'.

I would rather URA control land and award based on solid projects. The key is - we need SOLID projects and this requires ethics from the URA board. There should be bi-annual appointments or something like that, where new fresh feet can get in.

I would just rather OCURA demonstrate more prowess toward urban development.

I would just rather OCURA demonstrate more prowess toward urban development.

Why would they? They are the ultimate speculators. They have everything on their side; all the time in the world, no need to make a profit to stay in business, and no taxes to pay. We need to end their monopoly. Sell off everything and lets get this city under construction.

I might say we need people who are making decisions for the right reasons on the OCURA board, but I don't agree that we need to sell off everything and get the city under construction. Again, I'd far rather we have slow construction that is done right and is aesthetically pleasing than that we allow any developer to slap anything up in an attempt to make a quick profit and perhaps sell before the flaws show up. The collapse in real estate was an unanticipated event by many and we shouldn't allow what has happened in the last two years cause us to make snap decisions that this sort of thing should or shouldn't have been approved or built. Hindsight is 20-20, and some of the projects that weren't approved might not have been so popular once they were constructed. Or, some of the projects that were built, in a different economic climate, may have been wildly successful and we'd be applauding OCURA decisions. Even if there were different people on the OCURA board, some of their decisions would end up being unpopular, all of us specializing in armchair quarterbacking around here.

I might say we need people who are making decisions for the right reasons on the OCURA board, but I don't agree that we need to sell off everything and get the city under construction. Again, I'd far rather we have slow construction that is done right and is aesthetically pleasing than that we allow any developer to slap anything up in an attempt to make a quick profit and perhaps sell before the flaws show up.

You write this sentince AND support OCURA? That is a contradiction in terms. Where is the incentive for OCURA to do those things? However, if you want slow construction then mission accomplished. Land has been sitting vacant for 40 years or more.

Kerry, it's not that simple....

Kerry, it's not that simple....

I know, there are egos involved and politics to play. How else can someone explain 40 or 50 years of vacant land surrounding the urban core of OKC?

Tell me which piece of land has been vacant for 40 years, under control of Urban Renewal for that long, and I'll give you the details, which in some cases favor Urban Renewal, in other cases do not. I'd also advise there isn't as much land out there that fits this description as you might think.