BG918
09-08-2005, 02:18 PM
I've noticed a lot of site work going on at 12th and Lindsey recently and I was curious what the plans were for this valuable piece of land about a mile east of the OU campus. Well it turns out this will be a "mixed-use" development of retail/restaurants and upper floor apartments, which is what Norman (and OKC) needs the most. And then I noticed TAP Architecture is designing it so I'm pretty sure it will be a good design. I'll post renderings when I can find them, TAP's website seems to be U/C. Has anyone heard about this project?
The article from the Norman Transcript...
By Randall Turk
Transcript Business Editor
Work is expected to begin soon to transform a prime eight-acre tract on the southwest corner of 12th Avenue and East Lindsey Street into an upscale mixed-use development.
The formerly distressed property will connect a residential and commercial building boom occurring on 12th Avenue. Because of the complicated interaction required among city, federal and private interests, the "East Village" project planned for the site may be the first of its kind in the state.
Formerly the site of Kingsgate apartments, East Village will be occupied by commercial "boutique" businesses, second story and loft apartments and a condominium community. Final designs for the project were completed last week by Norman-based TAParchitecture. The city of Norman is reviewing construction permits. The project is expected to be completed by late 2007.
Site preparation work will begin soon, and construction should start within 30 days, said Hunter Miller, who is partnering with country singer Toby Keith to develop the $10 million project. Their enterprise, 78 Robinson Partners, also owns Sooner Traditions, the construction company that will build out the development. Willard Barnett, a partner in Sooner Traditions, is project manager for East Village.
"We lucked into this," Miller said. "I was nervous at first, but we came to the conclusion it's a unique project that's needed in east Norman. The City of Norman has bent over backwards to do everything possible to make this a great development."
The site, just a mile east of the University of Oklahoma campus, had fallen into disrepair since the Kingsgate Apartments were built there in 1971. Kingsgate had been financed by the U.S. Department of Housing -- Urban Development (HUD).
The East Village project represents a challenge not just for the developers, but also for the City of Norman.
"This has really been an interesting process," said Linda Price, the city's revitalization manager. Of Kingsgate's 144 apartments, 44 had been reserved for HUD's 236 program for low income renters.
"By the mid-1980s, Kingsgate was really dilapidated, definitely deteriorating to the point where we were having constant problems," Price said. "The previous owners wanted money from HUD to make improvements to the property, but in 1995 decided to sell it to Albertson's for a supermarket site." At that time, the property was appraised at $1 million.
HUD had different priorities, however. The federal agency held firm in continuing a contract to maintain the 44 Kingsgate units as affordable housing. HUD, the U.S. District Attorney's office, the owners, the City of Norman and the Norman Housing Authority participated in a series of meetings to discuss options for the property, Price said.
"Meanwhile, the owners thought they could get more money for the property [by finding another buyer], but found out they couldn't. HUD refused to renegotiate with the owners and foreclosed on Kingsgate in 1997."
By that time only about 40 of the Kingsgate apartments were occupied, Price said. "We found other homes for the residents. Then we found asbestos at Kingsgate. HUD carried out asbestos abatement procedures and demolished the the apartments. HUD graciously agreed to sell the property to the City of Norman for $10."
The city's agreement with HUD involves replacing Kingsgate's 44 units in the 236 housing program with affordable housing elsewhere in the city.
In 1998, the city requested proposals for redeveloping the Kingsgate property. "Republic Bank of Norman got the interest of Metafund in Oklahoma City, which began efforts to locate developers," Price said.
For the following six years, the city was unable to drum up much interest in the Kingsgate property. "Last year we saw a really good proposal, but a reappraisal of the land showed it's now worth $2 million," Price said. "That soured that deal. The city decided to sell the land."
The property sold to 78 Robinson Partners for the full $2 million. The city has invested the money and is considering ways to leverage it to fulfill the HUD mandate for replacing Kingsgate's affordable housing.
"It took 10 years to get here from when the original Kingsgate owners asked to sell," Price said.
Great plans are in store for East Village, says Anthony McDermid of TAParchitecture. He said there will be three large commercial buildings facing 12th Avenu. The ground floors will be devoted to 27 or more small, upscale shops. The commercial buildings also will contain 48 one- and two-bedroom second floor apartments and 48 top floor loft apartments.
A 1.38-acre parcel facing 12th and Lindsey will be up for sale. The asking price is $15 a square foot. Leasing and sales for the development will be handled by Equity Realty, Inc., of Norman.
The remainder of the project will be taken up by 43 luxury townhomes. The two-and three-bedroom townhomes will each have 2,000 square foot of living space, two levels and a double garage. Each townhome will have two open air balconies facing onto a landscaped court. The masonry buildings will have a modern theme.
"The East Village diversity of use and density ultimately will lend to the sustainable nature of the project," McDermid said. "We think it portends the future of Norman development in high profile locations."
Randall Turk 366-3547 rturk@normantranscript.com
The article from the Norman Transcript...
By Randall Turk
Transcript Business Editor
Work is expected to begin soon to transform a prime eight-acre tract on the southwest corner of 12th Avenue and East Lindsey Street into an upscale mixed-use development.
The formerly distressed property will connect a residential and commercial building boom occurring on 12th Avenue. Because of the complicated interaction required among city, federal and private interests, the "East Village" project planned for the site may be the first of its kind in the state.
Formerly the site of Kingsgate apartments, East Village will be occupied by commercial "boutique" businesses, second story and loft apartments and a condominium community. Final designs for the project were completed last week by Norman-based TAParchitecture. The city of Norman is reviewing construction permits. The project is expected to be completed by late 2007.
Site preparation work will begin soon, and construction should start within 30 days, said Hunter Miller, who is partnering with country singer Toby Keith to develop the $10 million project. Their enterprise, 78 Robinson Partners, also owns Sooner Traditions, the construction company that will build out the development. Willard Barnett, a partner in Sooner Traditions, is project manager for East Village.
"We lucked into this," Miller said. "I was nervous at first, but we came to the conclusion it's a unique project that's needed in east Norman. The City of Norman has bent over backwards to do everything possible to make this a great development."
The site, just a mile east of the University of Oklahoma campus, had fallen into disrepair since the Kingsgate Apartments were built there in 1971. Kingsgate had been financed by the U.S. Department of Housing -- Urban Development (HUD).
The East Village project represents a challenge not just for the developers, but also for the City of Norman.
"This has really been an interesting process," said Linda Price, the city's revitalization manager. Of Kingsgate's 144 apartments, 44 had been reserved for HUD's 236 program for low income renters.
"By the mid-1980s, Kingsgate was really dilapidated, definitely deteriorating to the point where we were having constant problems," Price said. "The previous owners wanted money from HUD to make improvements to the property, but in 1995 decided to sell it to Albertson's for a supermarket site." At that time, the property was appraised at $1 million.
HUD had different priorities, however. The federal agency held firm in continuing a contract to maintain the 44 Kingsgate units as affordable housing. HUD, the U.S. District Attorney's office, the owners, the City of Norman and the Norman Housing Authority participated in a series of meetings to discuss options for the property, Price said.
"Meanwhile, the owners thought they could get more money for the property [by finding another buyer], but found out they couldn't. HUD refused to renegotiate with the owners and foreclosed on Kingsgate in 1997."
By that time only about 40 of the Kingsgate apartments were occupied, Price said. "We found other homes for the residents. Then we found asbestos at Kingsgate. HUD carried out asbestos abatement procedures and demolished the the apartments. HUD graciously agreed to sell the property to the City of Norman for $10."
The city's agreement with HUD involves replacing Kingsgate's 44 units in the 236 housing program with affordable housing elsewhere in the city.
In 1998, the city requested proposals for redeveloping the Kingsgate property. "Republic Bank of Norman got the interest of Metafund in Oklahoma City, which began efforts to locate developers," Price said.
For the following six years, the city was unable to drum up much interest in the Kingsgate property. "Last year we saw a really good proposal, but a reappraisal of the land showed it's now worth $2 million," Price said. "That soured that deal. The city decided to sell the land."
The property sold to 78 Robinson Partners for the full $2 million. The city has invested the money and is considering ways to leverage it to fulfill the HUD mandate for replacing Kingsgate's affordable housing.
"It took 10 years to get here from when the original Kingsgate owners asked to sell," Price said.
Great plans are in store for East Village, says Anthony McDermid of TAParchitecture. He said there will be three large commercial buildings facing 12th Avenu. The ground floors will be devoted to 27 or more small, upscale shops. The commercial buildings also will contain 48 one- and two-bedroom second floor apartments and 48 top floor loft apartments.
A 1.38-acre parcel facing 12th and Lindsey will be up for sale. The asking price is $15 a square foot. Leasing and sales for the development will be handled by Equity Realty, Inc., of Norman.
The remainder of the project will be taken up by 43 luxury townhomes. The two-and three-bedroom townhomes will each have 2,000 square foot of living space, two levels and a double garage. Each townhome will have two open air balconies facing onto a landscaped court. The masonry buildings will have a modern theme.
"The East Village diversity of use and density ultimately will lend to the sustainable nature of the project," McDermid said. "We think it portends the future of Norman development in high profile locations."
Randall Turk 366-3547 rturk@normantranscript.com