Whereas we face what may be a worldwide financial downturn, Oklahoma Metropolis’s financial improvement planning, funding in our metropolis and efforts to diversify our economic system are paying off. A take a look at new improvement and funding in and across the central enterprise district reveals we haven’t skipped a step.
Building is underway on the former Villa Teresa College at Classen Boulevard and N. Dewey Avenue by builders Marva Ellard and Billy Woodring.
This $50 million redevelopment will protect a beloved historic college web site and redevelop the primary constructing right into a 70-room boutique resort with a restaurant, bar, well being spa, fitness center and conferences rooms. The three.5-acre web site will even embrace 10 modern two- and three-bedroom city houses and 7 flats for houses alongside Dewey Avenue with lined patios and balconies, every with a view of the downtown skyline.
Building will start later this summer time on 700 West, a four-story improvement on the southeast nook of Fourth and Shartel. This 2.5-acre nook improvement is necessary each in its location and goal; it’ll function roughly 300 residences, a mixture of market-rate and reasonably priced models, to satisfy a vital want in our city core. The land is owned by the Oklahoma Metropolis City Renewal Authority and will likely be bought to the builders with the purpose of offering extra reasonably priced or workforce housing to make sure that the downtown space continues to develop in an equitable and inclusive manner.
Heartland Fee Methods is almost completed with the development of its new headquarters at NW Fifth and Broadway. The $40 million headquarters could have places of work for 550 workers and the corporate is including one other 400 jobs that will likely be positioned within the not too long ago renovated Mideke Constructing in Bricktown.
Renovation of the BancFirst Tower continues, with all 500,000+ sq. toes and 36 flooring anticipated to be completed by the tip of the 12 months. This $70 million renovation represents one of many largest renovation tasks within the metropolis and is predicted to extend occupancy of the constructing to 90%. BancFirst will occupy about 165,000 sq. toes and lease the rest of the constructing to different tenants.
As we climate the financial challenges of COVID-19, we’re discovering how our earlier work to strengthen Oklahoma Metropolis’s economic system will make a distinction in how we emerge from this era.
Cathy O’Connor is president of the Alliance for Financial Growth of Oklahoma Metropolis.