W. H. Stewart sold in Bricktown

[Patrick]

Well, the old W.H. Stewart steel industrial buildings, encompassing much of east Bricktown sold today. Looks like the new owners are planning an office/retail/rsidential mix for the development. That seems to be the trend in Bricktown. I'm glad to hear the property sold and glad to hear that there's still yet another chance of getting more residential in Bricktown:

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"
Bricktown property purchased by investor
By Richard Mize
The Oklahoman

A local investor has bought the W.H. Stewart Steel property in Bricktown and has possible plans that include 5 acres of mixed-use, retail-office-residential space.
Such a project could take the city's entertainment district to a higher level of activity and regional prominence.

Robert H. Meinders, however, is keeping his exact plans close to the vest.

Meinders also declined to reveal the purchase price for the property, which includes several buildings on almost 5 acres. He bought the property in several tracts from Lowell and Vivian Stewart.

The property, north and south of Sheridan between Stiles and Lincoln Boulevard, is unofficially being called "The Steel Yard" because of its historical ties to the steel industry and the production of oil field equipment, said John Maisch, co-owner with Con Rice of Egressive Commercial Realty, which brokered the deal.

Meinders could not be reached Monday for comment on the transaction, which Maisch said closed late last week. In a prepared statement, Meinders said he was considering several options for the property.

One is a mixed-use redevelopment project comprised of retail, office, and living space -- lofts, for sale, not for rent.

"Whatever redevelopment plan we pursue, we want to do it right," said Meinders, a former executive with American Floral Services.

The Stewarts owned at least eight tracts and nine buildings in Bricktown, according to the County Assessor's Office.

The buildings, constructed from 1950 to 2001, total at least 120,000 square feet, and the property, counting the buildings, had a combined assessed market value of about $1.5 million, according to the assessor's office.

The exact extent of the purchase, however, could not be determined Monday night, so the space purchased, and the price paid, could be considerably more.

Meinders cited the Oklahoma City Urban Renewal Authority's efforts to develop "the Hill," a nine-acre tract just north of the former Stewart property, and the area's proximity to the University of Oklahoma Health Sciences Center and Presbyterian Foundation Research Park as motivation for his purchase.

The steel infrastructure of the former Stewart buildings could remain in some type of "adaptive reuse" of the property, he said, especially since rising steel prices are making new construction more expensive.

"You shouldn't judge a book by its cover. There's a pretty solid super-structure behind those old metal exteriors," Meinders said. "

[Nuclear_2525]

Awesome. I really like the name for this development, even though it is plain.

[floater]

What I like about reading about these downtown developments in OKC is seeing the level of care each developer is putting into their respective projects. They want to preserve neighborhood character or maintain it. They tolerate the process and they, as Meinders put it, "want to do it right".

It's also good that we are seeing of mix of local and nonlocal interest in downtown. Meinders is the name on OCU's business school and one of the outdoor gardens at the Myriad Botanical Gardens.

I'm glad they're preserving the exterior steel, however unattractive it looks. Being true to its industrial roots helps make Bricktown unique. And like nuclear, I also like that name, "The Steel Yard".

Let's hope that any new garages or other new construction in the district keeps this committment to exterior design...

[Patrick]

floater, I couldn't agree with you more. For once, developers on OKC are finally putting some thoughts into their development projects before they build. Unfortunately, such intellect has been absent in much of our city's planning and development in the past.

I also agree...I love the name of the new development...."The Steel Yard" How fitting!

And it's great to see that the industrial look will remain in this area. I think it's kind of unique, because you have the old brick warehouses representing one era of industry, and the steel buildings representing another era of industry. It fits in with the overall industrial theme of Bricktown very well. Maintaining these structures and reconverting them into something new, will keep the historical touch in the Bricktown area.

This is stolen off another message board, but I thought the comments were good:

"The Meinders are a very well-known and promitent OKC family. They have donated massive amounts of money to OU and OCU in the past, in fact the brand-new business school that was built last year at OCU was constructed with money from Meinders' personal account; not from the Meinders Foundation. To be blunt it is great to hear a name other than Gaylord investing in land down there [Gaylord Entertainment owns Bass Pro Shops]."