OKC seeks federal funds for redevelopment

[warreng88]

Not sure of a great place to put this so I created a new thread:

OKC seeks federal funds for redevelopment
By Brianna Bailey
Journal Record
Oklahoma City reporter - Contact 405-278-2847
Posted: 06:03 PM Monday, January 10, 2011

OKLAHOMA CITY – Oklahoma City hopes to get a $4.8 million chunk of federal grant money from the Oklahoma Department of Commerce to lure a private developer to build multifamily housing in a blighted 250-acre area between the City Rescue Mission and the new Myriad Gardens.

The area, mostly filled with run-down or vacant buildings, is part of the Core to Shore redevelopment area, near the planned 70-acre downtown park that is part of Oklahoma City’s MAPS 3 initiative.

“This is a great opportunity to do something concentrated in that area, which is about to become the next economic residential and development area of the city,” said Matt Gabrielson, a planner for the Oklahoma City Planning Department. “We have great potential to do something amazing there.”

The Oklahoma City Council will consider applying for the federal funds from the Commerce Department at its meeting on Tuesday. The Commerce Department probably won’t award the funds until sometime next fall. If approved, the city would have three years to spend the grant money.

The funds would be targeted for an area just north of the old Interstate 40, bound by S. Shartel Avenue, the Rock Island railroad, W. California Avenue, S. Walker Avenue, W. Reno Avenue and S. Shields Boulevard.

If the Commerce Department awards Oklahoma City the grant money, the funds will be used to acquire real estate, tear down dilapidated buildings and redevelop the area.

“We can purchase properties there and basically establish a land bank so we can build something else there in the future,” said Cathy O’Connor, Oklahoma City assistant city manager.

A recent downtown housing study commissioned by the city projects a need for 2,000 units of rental housing in the downtown area.

The city hopes to attract a developer to the area to produce housing geared toward people at or below the median income level in the area.

[Spartan]

Interesting that a city planner is saying this will be the city's next big residential development area. If that were true, enact ordinances that make sprawl more difficult and urban development easier, and stop annexing new land further north.

[Easy180]

This will further damage the deficit...Oh wait it is for OKC...then a little more will not hurt...lol

[Midtowner]

The land annexed in the north wasn't a big deal and was related to the Bonds we passed back in '07.

Otherwise, yes, I agree. Suburban sprawl ain't sustainable development and it's going to cost us big when we have $5.00 gasoline.

[metro]

Well put Mid