Pete did mention these are not likely to begin for a while. So I wouldn't worry too much that Rose Rock is attached. And Pivot does good work, so they will help the project have some credibility.
Is this area even in a TIF district? Seems awfully far from downtown for that.
Replying to myself, based on Pete's map in the TIF Districts thread it looks like this site is too far north to be in TIF district #2, and I can't imagine there's one setup for the mostly residential area of midtown north of 13th.
Back in the 1990s, Tony Basolo was a friend and mentor to me, as he was to many people. He was “Assistant to the President” at Dolese then. I think he succeeded Roger Dolese as President following Mr. Dolese’s death in the early 2000s.
I remember him telling me a few times how Dolese had acquired and banked this land for the purpose of providing the base of a substantial project for OKC in the 21st century.
I think this fits their vision.
There is above ground utility lines that run directly through this property. This project looks very nice. Adding a dense pocket of residential here would help justify expanding the streetcar N on Broadway to 23rd.
And it would be fiscally irresponsible for the city to give it. Somehow the grandest and nicest mixed use project in the states history (OAK) is currently getting built yet is doing it without TIF money. That tells me its unnecessary here as well. Theres not even some old building theyre retrofitting nor any environmental issues that usually gets developers TIF money, its just retail and apartments, stuff that happens all over the OKC without any help.
Then maybe the market should speak for itself and this doesnt happen here instead of TIF money skewing the market.
And they are different in other ways. Assembling multiple parcels from different owners is a time consuming and expensive process, yet OAK still managed it with no TIF. Alley North is one property from one seller, pretty straight forward. If the purchase price is too high at Alley North to make it work, then let it sit for either the next buyer to make it work or the seller adjusts its price. Instead too often its "hey OCURA, this wont pencil so give us money to make it happen."
Just saw this project is in line to receive $4.5 million in funding assistance from the City.
Looks like there is forward movement.
TIF it is according to this mornings paper. 4.5 million for phase one. And then the developers say a TIF for phase two. First phase is an office building, apparently pre-leased, a parking garage and a 120 room boutique hotel, as well as some retail. Phase two will be apartments and more.
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