Midtown

[Urbanized]

Thank you for finding that information for me. You have provided a lot of good info.

So let me get this straight now.

1) A building only has to comply with HP regulations if the owner applies for and receives HP tax credits.
2) If the building fails to retain the historic characteristics for 5 years, or if it is sold, or if it ceases to become income-producing then the tax credits can be recaptured.

Does this mean that historic characteristics only have to remain in place during the time the tax credits are subject to recapture? In other words, other than having to pay back the tax credits are there any potential penalties for violating the HP requirements? In 5 years can they add on to Hadden Hall and make other modifications?

According to that information (it should be pointed out that the info in that link is from '05), it sounds like the answer to that is possibly yes. By the same standard, I guess the folks at the Skirvin could probably paint over their historic wall, or re-tile their historic floor next year - five years after opening - if they chose to.

However, if a building is successfully rehabilitated to comply with the Secretary of the Interior's standards for Historic Preservation, it usually has more intrinsic value than a like, but less-historic structure. In most cases I would guess that the owners, having been through the process, would be disinclined to undo what they worked so hard to achieve. "Historic" is a commodity that is pretty limited around here, so once someone has invested in doing it right, most would not want to un-do their effort and compromise their own investment. The government is probably betting on this too, by structuring the credits in this way.

Keep in mind that those guidelines are for the federal tax credit. Oklahoma also has a state tax credit (currently under fire in the legislature) which has similar hoops to jump through and similar transfer restrictions, I'm guessing. Chip Fudge, who was involved with some revitalization in the Automobile Alley® Historic District, and who has led revitalization in Film Row, has an opinion piece in this week's Gazette that discusses the current threat to the state tax credit.

[Just the facts]

However, if a building is successfully rehabilitated to comply with the Secretary of the Interior's standards for Historic Preservation, it usually has more intrinsic value than a like, but less-historic structure. In most cases I would guess that the owners, having been through the process, would be disinclined to undo what they worked so hard to achieve. "Historic" is a commodity that is pretty limited around here, so once someone has invested in doing it right, most would not want to un-do their effort and compromise their own investment. The government is probably betting on this too, by structuring the credits in this way.

I was thinking the exact same thing. Once the historical aspect becomes part of the product the current owner is less inclined to ruin it. As time goes on, and if historic replication catches on in OKC, future owners might not be so concerned with the historical component if they can make more money by expanding.

[dankrutka]

Anyone have recent pics of 1212? I think that is a really important development for MidTown.

[Pete]

I believe 1212 is still set for an April finish date, so it should be really coming along.

[Spartan]

It is. I will be surprised if the facade is not complete by the next time I am down in OKC. (And then I expect to see some progress eventually on the Edge, too)

[CCOKC]

The 1212 is coming along. It seemed to be at a crawl for so long and then in the course of just a few weeks it seemed it now resembles somethin someone can actually live in.

[dankrutka]

Looking good. Thanks for the pics. I just think this development will give Midtown a much more vibrant feel...

[Pete]

Yes, especially since the immediate area has become the more or less the epicenter of Midtown.

[MikeOKC]

Let's not forget that we owe a great deal to Greg Banta for doing so much to make Midtown a place to even happen again. I know it was Howard & Clegg's money (for the most part) but when I drive through there, I think of how dead it was when Greg had the vision for Midtown. It's really happening now and it's great to see.

[dankrutka]

Have there been any tenants for the ground floor leaked or mentioned? If not, what do you think might go well there to build on what's already happening in the area?

[city]

This project looked much better as a rendering than how it looks now. The the exterior wall color and finish, the windows looked like a better quality were originally red . It is very plain why didn't they have some fun with it. I do not think this project will age well.

[mcca7596]

This is a project looked much better as a rendering than how it looks now. I think this project is a disappointment

How so? It doesn't have any of the final exterior finish done except for the windows. Also, it will have what appear from the following rendering to have glass-walled balconies:
http://www.taparchitecture.com/tands...-north-walker/

[dankrutka]

This project looked much better as a rendering than how it looks now. The the exterior wall color and finish, the windows looked like a better quality were originally red . It is very plain why didn't they have some fun with it. I do not think this project will age well.

I think this is way premature. Most of the exterior is going to be coverd with balconies and such. Wait and see how it looks...

[ljbab728]

Have there been any tenants for the ground floor leaked or mentioned? If not, what do you think might go well there to build on what's already happening in the area?

I would think that would be an ideal location for a small neighborhood grocery store or drug store.

[dankrutka]

I would think that would be an ideal location for a small neighborhood grocery store or drug store.

Maybe so... although the Native Roots at LEVEL will only be a little over a mile away. I'm not sure the area can support two grocery stores. Drug store may be a good idea though...

[ljbab728]

It's not unusual in urban areas to have small grocery stores closer together than one mile.

[mcca7596]

Also, one of the main draws is the ability to walk to an urban grocery store. That's quite a walk from Midtown to Deep Deuce even for urbanites, and I'm willing to bet more Deep Deuce residents mosey over to Midtown for a night out/shopping than vice versa (at least until Aloft and Level open).

[dankrutka]

It's not unusual in urban areas to have small grocery stores closer together than one mile.

I agree and understand that, but I don't think the area is near dense enough yet.

[ljbab728]

I agree and understand that, but I don't think the area is near dense enough yet.

Well it's not unusual to have suburban grocery stores closer together in less dense environments so I don't think that's a particularly good argument. As for density would you like to compare it to the suburbs then? We're not talking about a Homeland here, just a small neighborhood place with the basics and maybe a nice deli and bakery.

[dankrutka]

I'm just not convinced that it would make it, but don't be mistaken, I would love for it to. I am absolutely in favor of an urban setting where less cars are involved. Maybe once Edge is built and occupied it would make it. I hope you're right. Maybe we'll find out...

[metro]

I think the bigger point everyone is missing as the Midtown core will now get some much needed residents.

[CCOKC]

I work in Midtown and would love to have a little grocery store/drug store. My mouse's batteries went out yesterday and I needed batteries ASAP. The closest place I could think of to get batteries was Homeland at 18th and Classen. I would have much prefered to walk a few blocks than get in my car and drive a few miles.

[Skyline]

I think the bigger point everyone is missing as the Midtown core will now get some much needed residents.

Is there a factual number, as to how many residences currently in Midtown vs Deep Deuce?

If someone could come up with that number it would be interesting to compare the two, especially in the next few years.

[metro]

It also depends on how you define the up for debate Midtown area.

[BoulderSooner]

I think the bigger point everyone is missing as the Midtown core will now get some much needed residents.

and more on the way