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  1. #51

    Default Re: Sunshine Cleaners

    There is still a bunch of TIF money in the downtown TIF (TIF #2) because they originally projected to collect $47 million and have now raised that to $170 million and we will likely exceed that as well.

    There is still $63 million to spend out of TIF #2, and even more if the recently-revised $170 MM target is exceeded.

  2. #52

    Default Re: Sunshine Cleaners

    good thing OGE/Clayco wasn't allowed to come steal it all. ...
    Oklahoma City, the RENAISSANCE CITY!

  3. #53

    Default Re: Sunshine Cleaners

    Renovation rewards: OKC Council approves $900,000 in TIF funds

    By: Brian Brus The Journal Record April 12, 2016

    OKLAHOMA CITY – Two run-down buildings in Oklahoma City would never have been recognized for their potential, if not for historic tax credits and tax increment financing, developer David Wanzer said.

    The City Council unanimously approved nearly $1 million in TIF funds Tuesday to refurbish the Townhouse Apartments and convert the Sunshine Cleaners building into mixed-use. Work is slated to begin this summer, with completion in the first three months of 2017.

    Wanzer said he was first attracted to the old neon sign outside the dry cleaner building at 1012 NW First St. The building lacks a roof now; trees are growing inside it. But its architecture is fascinating, he said, because of weight-bearing wall placement. Wanzer described the site as repeatedly straining city services.

    He wants to convert the building into 17,000 square feet of leasable mixed-use space to match the purpose of the Downtown/MAPS Tax Increment Finance district, or TIF. In March, the community review committee agreed with his idea and recommended a budget allocation of $550,000.

    For the townhouse project, 627 NW Fifth St., Wanzer wants to redesign the historic 14,700-square-foot building – “a flophouse,” he called it – into a 17-unit residential development. The review committee also supported the idea and recommended that the council provide $350,000 in TIF assistance.

    “We would not have tackled either of these projects without the ability to tap into historic tax credits,” he said.

    Councilman Pete White said lawmakers should note the projects.

    “Hopefully, the state Legislature will pay attention to this presentation and not do away with something that’s vital to historic development,” he said. “This is a perfect example of two buildings that would continue to fall into further ruin until they were demolished … that will be really important to the redevelopment of downtown.”

    Wanzer said a fellow businessman once questioned how he was able to spend more money on the project than the building’s market appraisal. That gap is being closed by government aid, he said.

    Cathy O’Connor, executive director of the Oklahoma City Urban Renewal Authority, said she is often approached by developers who want TIF funds but don’t understand their purpose or who intend to flip a property quickly for profit. O’Connor said many of them are “pretty crazy ideas. … They just don’t make any sense.”

    Such proposals are turned away on a case-by-case basis, she said. Councilman Ed Shadid asked for recordings of such conversations to confirm the process.

  4. #54

    Default Re: Sunshine Cleaners

    The Pivot Project trio hosted a really nice event at this structure last night, a "pre construction" celebration.

    I met Joel Irby who is the brewer putting in StoneCloud Brewery and Taproom into that building, and he's a sharp young guy. They provided several types of free beer and I thought it was excellent.

    Joel said he thought it would take them until the first part of next year to get the building ready for him to bring in his equipment and start to get set up. In the meantime, he's working on his recipes and test batches.

    The Pivot guys will have the offices on the 2nd level and they have not yet leased the restaurant space in the back, which is super cool. I'm sure they'll find someone as this project moves along.

    Pretty cool to stand in that building, look out the windows and see 21c and everything that is happening around it. That are of west downtown is going to be super cool very soon and you can bet Film Row will start to fill in between Classen and the CBD.

  5. #55

    Default Re: Sunshine Cleaners

    I drive by this place almost everyday. Recently they have had the windows out along Classen where you can see in. Have to say I think this place is going to be a diamond. Looks like such a cool layout plus the combo of 21C right across the street is going to make this area amazing. Is there any renderings of this yet? Excited to see how they transform it.

  6. #56

    Default Re: Sunshine Cleaners

    Here is the rendering from up thread:


  7. #57

    Default Re: Sunshine Cleaners

    Pete, what is the story on the building just south of this in the rendering?

  8. #58

    Default Re: Sunshine Cleaners

    I don't know why I've skipped over this thread but with everything else that's going on in the Film Row area and the Main Street Arcade, this area will soon rival Bricktown!

  9. #59

    Default Re: Sunshine Cleaners

    Quote Originally Posted by Bill Brasky View Post
    Pete, what is the story on the building just south of this in the rendering?
    The properties highlighted below are all owned by Rick Warren, who owns a local construction company.

    I ran into him one day as I was taking photos of 21c and he said he wants to lease all that property and will renovate if he can find the right tenants.







  10. #60

    Default Re: Sunshine Cleaners

    Someone needs to do something with that Deep Rock gas station. Love that building.

  11. #61

    Default Re: Sunshine Cleaners

    ^

    It was renovated and occupied for a while, but the tenant didn't last.

  12. #62

    Default Re: Sunshine Cleaners

    They've started some work:










  13. #63

    Default Re: Sunshine Cleaners


  14. #64

    Default Re: Sunshine Cleaners

    The former second floor offices is to be home of the pivot project HQ so they are moving on that immediately without the commitment of any tenants.

    I think the brewpub, or to be fair, the brewery with a pub as they planned to distribute statewide. Was relying on SJR 68 for some law reform so they wouldn't have to sell their beer to a broker, who then sells it to a wholesaler, where the brewery buys their own beer BACK after being taxed, excized, and theoretically loaded and moved on 3 different t trucks where the product has to sit on the hot warehouse floor for 24hours by law before it can be sold and moved again. 68 would have allowed them to just sell the GD beer they're making on premise and collect tax dollars on.

  15. Default Re: Sunshine Cleaners

    Quote Originally Posted by Uptowner View Post
    The former second floor offices is to be home of the pivot project HQ so they are moving on that immediately without the commitment of any tenants.

    I think the brewpub, or to be fair, the brewery with a pub as they planned to distribute statewide. Was relying on SJR 68 for some law reform so they wouldn't have to sell their beer to a broker, who then sells it to a wholesaler, where the brewery buys their own beer BACK after being taxed, excized, and theoretically loaded and moved on 3 different t trucks where the product has to sit on the hot warehouse floor for 24hours by law before it can be sold and moved again. 68 would have allowed them to just sell the GD beer they're making on premise and collect tax dollars on.
    Wait did someone announce that the Brewery is no longer happening???

  16. #66

    Default Re: Sunshine Cleaners

    No. But the business model was really contingent on SJR 68. It may still happen. But all those things I described would have to happen for the brewery to sell beer 50ft away from where it was made.

    Cost-wise it munches more than a half of cost before you can sell the beer you made on the other side of the wall.

  17. #67

    Default Re: Sunshine Cleaners

    Wait, what? Why is SJR 68 passing in November required for cutting out those extra steps? Wasn't that the point of SB 424, which was signed by Fallin and goes into effect in August?

  18. Default Re: Sunshine Cleaners

    Quote Originally Posted by David View Post
    Wait, what? Why is SJR 68 passing in November required for cutting out those extra steps? Wasn't that the point of SB 424, which was signed by Fallin and goes into effect in August?
    Yeah that's what I thought, but wasn't sure. Need to brush up on my non-insane, beneficial bills coming out of 23rd & Lincoln.

  19. #69

    Default Re: Sunshine Cleaners

    Sampled some Stone Cloud brews at the Oklahoma Craft Beer Fest last weekend. The two (imperial stout w/ vanilla and coffee and a strawberry sour) I tried were outstanding, standouts among a ton of new stuff I tried. This gentleman can brew, the beer will do very well.

  20. #70

    Default Re: Sunshine Cleaners

    Was = is. I maybe be 68 vs 424. But in either case. It would be very hard for that model to work without the brewery to sell beer direct for semi-on premise consumption.

  21. Default Re: Sunshine Cleaners

    Quote Originally Posted by Uptowner View Post
    Was = is. I maybe be 68 vs 424. But in either case. It would be very hard for that model to work without the brewery to sell beer direct for semi-on premise consumption.
    Not really sure what you're getting at though. SB 424 passed and was approved by Mary Fallin. That cleared the way for breweries to sell their high-point beer on premise without going through a distributer so it shouldn't be an issue anymore.

  22. #72

    Default Re: Sunshine Cleaners

    Absolutely no reason to believe Stone Cloud won't be moving forward here.

  23. #73

    Default Re: Sunshine Cleaners

    Quote Originally Posted by PhiAlpha View Post
    Yeah that's what I thought, but wasn't sure. Need to brush up on my non-insane, beneficial bills coming out of 23rd & Lincoln.
    Shouldn't take too long.

  24. #74

    Default Re: Sunshine Cleaners

    Rendering from Gardner Architects for the brewery inside this project.


  25. #75

    Default Re: Sunshine Cleaners

    Bringing buildings back to life: Developer positioned to get $900,000 in TIF money

    By: Molly M. Fleming The Journal Record July 25, 2016

    OKLAHOMA CITY – The Oklahoma City Economic Development Trust will consider approving nearly $1 million in tax increment financing for an area developer.

    David Wanzer has two projects that are set to receive TIF money if the development trust approves the applications. The City Council and the TIF review committee approved $550,000 for the Sunshine Cleaners redevelopment project at 1012 NW First St. and another $350,000 for The Town House, 627 NW Fifth St.

    On Tuesday, the economic development trust will review the contract requirements in order for Wanzer to get that money. Oklahoma City Economic Development Manager Brent Bryant said Wanzer’s team will not get the money until the projects are completed to the extent required in the contracts.

    “These two projects have been found to be very difficult for the developer,” said Bryant. “We’re excited about these two projects because they’re taking old, blighted buildings and bringing life back to them.”

    Wanzer and his Pivot Project partners, Ben Sellers and Jonathan Dodson, are redeveloping the Sunshine Cleaners and Laundry building into 17,000 square feet of leasable space, which includes an office area, a restaurant, and a brewery with a public taproom.

    Wanzer said construction is in full swing at the cleaners building, with concrete being poured on Monday. He said utility work had started, with one nearby traffic lane closed for that process. New glass windows are being installed. City documents state that Wanzer estimates his team will spend $3.6 million on project costs.

    “Everything is going great,” he said. “Everything is moving forward for completion in the fourth quarter of this year.”

    Once completed, the building will have an increased market value of $2.4 million, and result in an estimated ad valorem tax payment of $41,000 per year. As of 2016, the building has a market value of $132,878, with an assessed-base ad valorem tax of $9,131.

    Wanzer is tackling The Town House by himself since he bought it before he partnered with The Pivot Project. He said he is finalizing the construction budget with Smith & Pickel. The project will go before the Downtown Design Review Committee this summer and construction will start in September. The building’s interior has been demolished to make way for the 17 apartments that will be constructed.

    Wanzer will spend $3.5 million on the project. As of 2016, the building has a market value of $1 million and an assessed ad valorem tax of $12,608. Once completed, the city estimates it will have a market value of $3.2 million and ad valorem tax payment of at least $28,000.

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