Downtown Tulsa Developments
 

     Until recently, momentum for the revitalization of downtown Tulsa had been advancing at a painstakingly slow pace.  But now, even in the face of a global economic meltdown, a critical mass of completed and planned new construction projects have downtown Tulsa on the verge of some truly historic growth.  It is doubtful that any current day growth and development will match the boom times of the 20's, but when the economy fully recovers things are sure to take off.

     In just the last few years, downtown Tulsa has seen an infusion of capital spending that far exceeds anything we have experienced in a generation or two.  On the public side, Tulsa still trails investments in Oklahoma City and other regional cities, but it is beginning to catch up.  In the private sector, Tulsa appears to be leading the state in in-fill development.
 

  Setting the stage for future downtown Tulsa development
 

     As a part of the Vision 2025 program, the $200 million dollar BOK Center is the largest single public investment in the history of downtown Tulsa.  Currently ranked as the 12th highest grossing entertainment venue in the world, the Cesar Pelli designed landmark delivered on the promise to provide the city with an architecturally significant and iconic arena that is both unique and recognizable around the country.

Investments for conventions and tourism

     Complimenting the BOK Center is over $50 million dollars in improvements to the Tulsa Convention Center, which recently underwent massive renovations and additions which have transformed the campus facilities into a state of the art convention center featuring Oklahoma's largest ballroom.  It now competes favorably with the best facilities in the country and was recently awarded the 2010 Prime Site Award.
 

     As part of a worldwide group of convention and entertainment venues managed by SMG, the Tulsa Convention Center includes not only the ballroom but an 8,900 seat arena, Meeting Rooms, Conference and Assembly Halls, ample parking and a myriad of nearby hotels and entertainment options, not to mention the new and world class 18,000 seat BOK Center, just down the street.   

   Completion of Downtown Tulsa's ONEOK Field marked another major public / private investment that will most certainly spawn new development in the nearby historic Greenwood, Brady and Blue Dome Districts.  The Double AA Tulsa Drillers set an all-time attendance record in their first season in the new facility, bringing 5 to 8 thousand fans downtown 3 to 4 times a week during home-stands. 

 Major investments in academic campuses and downtown hotels

    New and remodeled hotel rooms have also been added with the addition of the Atlas Life / Marriott Courtyard Hotel and major renovations to four of the other downtown hotels including the Hyatt Regency, Doubletree Downtown, Holiday Inn Center City and the historic Mayo Hotel.

      OSU Tulsa, Langston University and Tulsa Community College have all had major new facilities ranging in value from $8 million to $43 million, completed in the last couple of years, including the ultra-modern TCC Center for Creativity, not shown here.
 

New downtown housing units

     The first of many new residential units are now complete in downtown with the creation of 70 luxurious new lofts with state of the art features in the historic Mayo Hotel.  From laundry, maid service and valet parking to room service and concierge assistance, the Mayo lofts are perfectly complemented by all of the optional amenities enjoyed at a first-class hotel.  Total renovation costs (including hotel rooms and common areas exceeded $40 million.

     Just one block away, 67 luxurious new one and two bedroom apartments are offered in the 420 Mayo Building (not the hotel) which has undergone $24 million in renovations. Listed on the National Register of Historic Places, both buildings have been carefully restored while maintaining all of the character of their original design. 

     Combined with the earlier renovation of the Tribune Lofts and Philtower Lofts, these new additions are just the beginning of many new rooftops expected to be added downtown in the next few years.

Transportation Investments

       Completion of the Route 66 Gateway Bridge and Plaza illustrates how the city would like to enhance the many different entrance and access points to downtown.  The plaza is the first phase of a project that will eventually house a restaurant, interpretive center and Route 66 museum.

     In the transportation sector, Downtown Tulsa is receiving an enormous infusion of federally funded highway improvement dollars to the north and west legs of the inner-dispersal loop and a new multi-model bridge over the Arkansas River. Vision 2025 included another $20 million in downtown street improvements but more needs to be done. $3.6 million dollars has been dedicated to demolition and re-design of the Boulder Bridge. 

Renovated Churches

     Virtually all of Downtown Tulsa's mainline churches have seen recent renovations running into the millions of dollars.  Holy Family Cathedral for instance just completed an $8 million dollar renovation.  Other major projects have been completed or are under way at Trinity Episcopal, First Baptist, First Presbyterian, First Methodist, and others.

Parks and Open Spaces

     Another new downtown park is the $4 million dollar H.A. Chapman Centennial Green, located between Main Street and Boston Avenue on the south side of Sixth Street.  This park is the trailhead for the 2-mile-long Centennial Walk which connects most all of the major points of interest in downtown Tulsa.  These beautiful new parks add inviting and relaxing green space to the urban environment.

  The John Hope Franklin Reconciliation Center and Park, a $3 million dollar green space honoring the historic Tulsa Race Riot of 1921, was completed in late 2010.  Plans are also underway for a museum to be added in the next few years.

Recent Downtown Tulsa Construction Projects

      Counting projects that are not listed here, downtown Tulsa has benefitted from capital expenditures in the three quarters of a billon dollar range.   Many exciting new projects are in various stages of planning and will likely becoming along soon.

New Downtown Tulsa Developments in the works

     So much is happening in downtown Tulsa that is is hard to keep track of it all.  Quite frankly, the only measure of restraint has been dictated by a global recession the likes of which we have not seen in decades.  In spite of the difficulties in funding major projects, downtown Tulsa is beginning to show signs of dramatic revitalization which in spite of numerous previous attempts have alluded us.
 

     Over and over you hear developers, government leaders and businessmen bandying about terms like "critical mass" and "momentum" when used to describe the current environment.  It is really exciting to think about what downtown Tulsa will look like in the next few years.

     One well known Tulsa developer was quoted by the Tulsa World early in 2010 as saying "I can tell you that there is at least $100 million in new projects that are shovel-ready that are going to happen in the next two years," he said.

Downtown Tulsa Construction on the horizon

Proposed Downtown Mixed Use Developments

New life breathed into proposed Talaas Project

     In February of 2011 the Tulsa Development Authority voted to re-open negotiations with Formaation LLC on the sale of 3.59 acres at Second Street and Greenwood Avenue, on the north edge of the East Village area.  The parcel is the key element in a massive $400 million dollar proposed mixed use development called Talaas, which would fully develop 40 acres in the East Village, a combination of privately owned land and several other parcels owned by the TDA. 
 

     In May, 2010 the TDA had opted against the proposal in favor of entering into negotiations with two competing groups for several of the parcels targeted by Talaas, effectively crippling plans for the entire project and the developers found themselves trying to regroup.  Land Legacy wants to use several of the TDA parcels and privately owned land to create a seven-acre urban park and lofts. 

     The Ross Group had been awarded the right to negotiate with the TDA for the Hartford Building site at 2nd and Greenwood with plans for a new 60,00 square foot building to house 100 employees but that project has apparently been derailed and the Ross Group appears to be looking at other locations, which opened the door for Formaation LLC developers to move forward with their original plans. 

     According to the Tulsa World, Talaas would have had a range of affordable to luxury residential lofts and brownstones, office and retail space, a boutique hotel, a grocery market, a small entertainment area and meandering green space, and a streetcar line connecting it to the BOK Center on Second Street. The developers also cited a "unique historic opportunity to bridge Tulsa's north and south side,"  as Talaas would flow right into the Greenwood District and ONEOK Field. 
 

     A representative of the developers observed that urban developments are not simple and told the Authority that all parties will have to work together to make this happen. "You have to work together if we really want to make this happen. Prices have to stay low, and you have to layer every government incentive known to man."

     The Tulsa Development Authority recently considered proposals from two different groups to convert the former City Hall Building into a hotel with mixed-use retail.   

    
     Brickhugger LLC was chosen and construction is now underway to convert the facility in a boutique hotel and retail space.  Brickhugger's track record of restoring the historic Mayo Hotel earlier played a key role in their successful acquistion.  The project cost is estimated to be in the $30 million range.  Construction is projected to take one year to 18 months.

     The Tulsa Development Authority approved a development contract in March, 2010 for a $38 million mixed-use project across the street from the BOK Center.  Called "One Place," the development will include a hotel, residential lofts, restaurants, retail stores, and green space in the square block between Second and Third Street and Denver to Cheyenne.
 

     The site is made up of three parcels, including the lot where the now razed Towerview Apartments once sat.  The mixed-use concept will be a first for downtown Tulsa.  Environmental studies are underway while the architectural plans and design development continue.  

Brady Arts District will see major new developments

      Conversion of the old Mathews Warehouse in the heart of the Brady District promises to transform this sleepy little village into a true arts and cultural destination.  This dramatic new facility is projected to inspire a wave of new interest and potential development in downtown Tulsa.  The approximate $20 million dollar (and growing) price tag is funded by philanthropic contributions spearheaded by the Kaiser Family Foundation. 

     The design concept includes two new spaces in this massive old structure which has stood in decline for years.  In the west end, the Arts and Humanities Council's new Visual Arts Center, in partnership with the City of Tulsa,  was to anchor one part of the building.  However, recent announcement that a new plan for that space is being considered and the Arts & Humanities Council will get an all new facility nearby that will provide classrooms, gallery and studio space where adults and youth can develop skills and have opportunities for creative expression. 

     The other end of the property, owned by the Kaiser Foundation, will be used by the Philbrook museum of Art for its new Philbrook Adkins Collection and Study Center.  Through exhibitions and programs that challenge, inspire, educate, and entertain, the 20,000 square feet space will establish a new forum for modern and contemporary art and design in our community. 

     The aim, according to Philbrook representatives, is to "add further dimension to our mission and hopefully the Brady District itself, by engaging new audiences and distinctively contributing to the cultural fabric of our community and region.”  

     The true centerpiece of Brady District's new look with be another Kaiser Family Foundation gift in the way of an $8 million dollar sustainable park to be built on the current site of the Central Freight Lines, bordered by Brady and Cameron streets and Boston and Cincinnati avenues. 

    
     Complete design details have not yet been released, but It will include a pavilion, water features and other amenities.  The project , now scheduled for completion in 2011, has been somewhat delayed due to funding problems for a $5 million dollar underground geothermal well field and distribution system, which must be built first.  That project is funded with federal stimulus funds matched by who?  Yes, once again the Kaiser Foundation steps up.

     Schematic planning is also proceeding on renovations to the historic Brady Theater .  Built almost 100 years ago, the old Convention Hall has endured two prior renovations that compromised the architectural and historical integrity of the building which the new project hopes to restore. Cost for the makeover are expected to run in the neighborhood of $17 million.

    Another exciting project proposed for the Brady Arts District is the Oklahoma Museum of of Pop Culture paying tribute to the contributions of so many Oklahoma artist and musicians to Americana, arguably more per capita than any other state.

     The $33 million price tag anticipates $24 million in state funding and the rest from private sources. 

     A Cain's Ballroom Museum just south of the famed icon at Main and Cameron Streets, has also been proposed.  The idea for a museum that would preserve and showcase the history of the legendary venue, which has hosted everyone from Bob Wills and the Texas Playboys to the Sex Pistols, was originally made public in March 2008.  Fundraising is underway to raise $2.5 million to get the project kicked off.

     Due to the economy, the proposed Griffin Communication's new 50,000 square foot $25 million studio and media center, originally scheduled for completion in 2009, has been delayed, but according to reports definitely not abandoned.  When it is eventually built it will be another feather in the cap of the Brady District.

More Downtown Tulsa Housing Units on the way

     A number of downtown residential projects are in various forms of planning and design including the First Street Lofts, an adaptive reuse project converting the 1916 Jacobs Hotel into 19 lofts with street level retail space.  The project is one of four awarded funds by Vision 2025, with a $1.3 million grant toward the $3 million cost. 
 

      The 9-story, 140,000 square foot Enterprise building at 5th and Boston recently sold and will be redeveloped into around 60 affordable lofts on the upper floors and a complement of retail mix on the ground level.  Developers are in the process of completing architectural plans and assembling contractors for the project.     

        Construction is now finished on the $5 million Detroit Lofts, a 16 unit apartment development occupying a portion the former Pittsburgh Plate Glass Distribution Center at Archer and Detroit.  The 38,000 square foot structure has been transformed into dwelling units.  With clear views of ONEOK Field, the building appears to offer unlimited commercial potential.
 

  Another Brady District residential project is the Tribune Lofts II, a new construction mirror project of the Tribune Lofts at Archer and Main.  Reports indicate approximately 63 newly constructed units will take up the entire new building with no ground floor retail expected.  Construction began in early 2011 and should be complete in about a year.

 
     The 10-Story, 80 year old ONG Building, one of Tulsa's most historic art deco treasure was slated for re-development into residential lofts.  It has been listed on the National Register since 1984 and is considered one of America's finest examples of zigzag art deco architecture.   The conversion project appears to be stalled at the moment but building has enjoyed recent increases in occupancy and we expect it will eventually go forward with some kind of massive renovations with possible mixed uses.   

     It's 1928 construction marked one of Tulsa's first art deco efforts, helping spur a design trend now iconic to the downtown area.

More proposed projects in the incubator

     There are numerous other real estate development proposals being considered for downtown.

     A two phase project slated for the new ONEOK Field area, still unnamed, is to be located on the northeast corner of Archer and Brady.  The first phase will be three or four stories and feature 67 residential units.

     The developers originally had a similar development concept for the site now occupied by the baseball stadium but offered to trade it for the new parcel when the Drillers were looking for a downtown presence.

    Another interesting idea is the redevelopment of the former and boarded-up YMCA Building, another acquisition of Brickhugger LLC.  Several different proposals are being considered for the property and and design plans are expected later in 2011.  The site is just across the street from the Convention Center and new Arena.   

     One more interesting proposal is the proposed renovation of the old Abundant Life Building on Boulder Ave into the "Diamond Lofts" project.  The seven story structure was the original Oral Roberts Ministries headquarters but it has been abandoned since the mid 80's.

      The building, which apparently contains asbestos, has accumulated significant code violation fines but the owner is reportedly working with the city and trying to arrange financing for the renovation. 

      Potential development interests are also following the condemnation proceedings over the old Tulsa Club Building, vacant for years and the site of repeated vandalism and graffiti defacement.  The Subject of enormous code violation fines, the art deco masterpiece is ideally suited for conversion to loft suites and perhaps some mixed use retail.

     The 11-story building at Fifth Street and Cincinnati Avenue has fire, electrical and plumbing code violations as well as safety and health code violations according to report.

Are you interested in developing in Downtown Tulsa?
The time to act is now!

    
     The Metro Tulsa Realty Group, provides brokerage and consulting services to builders and developers.  Our experienced brokers guide you every step of the way in this exciting new development environment.  Call today for an appointment.
 

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