Since 2010 — through the Tulsa Development Authority — the burgeoning area within the Inner Dispersal Loop has gained: 989 new residential units, four new hotels, four restaurants and retail places.
TDA’s goals for the future will remain consistent with the Strategic Plan that identifies growth through economic development and redevelopment opportunities.
After studying the TDA’s holdings, the board developed a strategy to redevelop unused parcels ripe for new construction and buildings that could be adapted for the uses citizens said they wanted — condominiums, apartments, and locally owned stores and eateries. Then TDA began issuing Requests for Proposals (RFPs). The first: One Place, an office-hotel-retail complex to be built on a TDA block of land facing the new BOK Center. Second: The Metro at Brady Arts District, a five-story apartment project adjacent to an earlier TDA-incentivized project, the Tribune Lofts. Third: Riverbend Gardens at 11th Street and Denver Avenue, where the land would provide space for 40 affordable townhomes.
Through more than 20 additional projects since then, TDA’s mission has always been to focus on ‘the highest and best use’ of land and property. But unlike other development, TDA’s role did and does not end with the sale. And land or buildings do not lie fallow. Developers must meet TDA’s high standards by adhering to the submitted project and agreeing upon timelines and completion dates. If a project presents challenges, TDA and developers work together to overcome them.
The result? A November 2014 report by Tulsa Regional Chamber on downtown building activity shows that 21 of the 48 recently completed or projects in process were the products of TDA involvement. Since 2010 — through TDA — the burgeoning area within the Inner Dispersal Loop has gained 989 new apartment residential units, 4 new hotels with more than 542 guestrooms, and 4 restaurants and retail places that accompany many of them.
Along with The Metro at Brady and One Place, other notable achievements have included the Detroit Lofts, East End Village, The Lofts at the YMCA, and Vandever Lofts. These projects would not have been possible without the TDA-administered Downtown Housing Fund. Through it, potential developers may be eligible for up to a $1 million, interest-free loan. It has been the critical factor in encouraging lenders to extend the needed funding to make projects possible.
TDA plans from 2018-2021 include the redevelopment of Block 44 located on the northwest corner of East Archer Street and North Elgin Avenue for a mixed-use commercial development. Similarly, it will focus on redevelopment of Block 53 located on the southwest corner of East Archer and North Greenwood Avenue, proposed to be office and commercial use.
Five Year Report/ Strategic Plan
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