Pete
12-12-2006, 08:07 AM
Bricktown: ‘Huge’ project to bring condos, additional shopping
Key final canal spots sold
• With purchases on each side of waterway, newcomer plans a low-rise and a 12-story building.
By Steve Lackmeyer Business Writer
A relative newcomer to Bricktown is planning to build a housing and retail development on one of the last undeveloped corners of the Bricktown Canal.
Gary Cotton confirmed Monday he has closed on purchases of land on both sides of the canal south of the JDM Building and west of Mickey Mantle Drive.
“I’m adamant that some of it will be retail,” Cotton said. “The canal needs some retail. And there will be some condos.”
His initial plans are for a twoto three-story building on the Mickey Mantle Drive side of the canal and a seven- to 12-story building on the west side of the waterway.
His plans also call for potential demolition of an adjoining building he owns at 108 E California, if permitted by the Bricktown Urban Design Committee. That lot, or building, would be incorporated into the new construction.
Bricktown Association director Frank Sims applauded Cotton’s plans.
“It’s huge,” Sims said. “It’s one of the most important pieces of property in Bricktown and is the focus of the canal — it’s where everybody gets loaded onto the water taxis.”
Several proposals to develop the lots were announced in past years, but they never materialized. Developer Harry McMullen sought to build a 10-story hotel on the corner lot west of the canal in 2000, but later abandoned those plans in favor of buying an aloe vera factory in South America.
Previous plans failed
In 2003, Bricktown property owner Jim Brewer, who controlled land on the east side of the canal, battled with McMullen over plans to build a hotel that would span the waterway.
When the city bought easements to build the canal, it left a narrow strip of land owned by Brewer that separated McMullen’s property from the canal. The arrangement gave Brewer control of land east of the canal, air rights over the waterway, and the narrow strip of land along the west side of the canal separating it from McMullen’s land.
The city council approved Brewer’s hotel plans over McMullen’s objections, but both sides of the canal remained undeveloped.
Cotton is interested in building a walkway or open patio that would link new buildings on both sides.
The Bricktown project will be Cotton’s first development, and he is still entertaining ideas for the property.
Cotton entered Bricktown in 2004 when he paid $1.95 million for a two-story building at 108 E California, immediately west of the McMullen property.
“I wasn’t planning on being an active owner at that time,” Cotton said. “But I’ve gotten very into it since.”
Cotton subsequently paid $2.7 million for the Bricktown Mercantile Building, 100 E Main (home to City Walk) and $600,000 for a one-story building at 329 E Sheridan that was last home to The Green Door.
Cotton paid $650,000 for Brewer’s side of the canal this summer and $1.475 million for the McMullen property last month.
Cotton said he’s anxious to begin construction, and is in talks to hire Bricktown architect Tom Wilson.
http://olive.newsok.com/Repository/getimage.dll?path=DOK/2006/12/12/12/Img/Pc0120600.jpg
Key final canal spots sold
• With purchases on each side of waterway, newcomer plans a low-rise and a 12-story building.
By Steve Lackmeyer Business Writer
A relative newcomer to Bricktown is planning to build a housing and retail development on one of the last undeveloped corners of the Bricktown Canal.
Gary Cotton confirmed Monday he has closed on purchases of land on both sides of the canal south of the JDM Building and west of Mickey Mantle Drive.
“I’m adamant that some of it will be retail,” Cotton said. “The canal needs some retail. And there will be some condos.”
His initial plans are for a twoto three-story building on the Mickey Mantle Drive side of the canal and a seven- to 12-story building on the west side of the waterway.
His plans also call for potential demolition of an adjoining building he owns at 108 E California, if permitted by the Bricktown Urban Design Committee. That lot, or building, would be incorporated into the new construction.
Bricktown Association director Frank Sims applauded Cotton’s plans.
“It’s huge,” Sims said. “It’s one of the most important pieces of property in Bricktown and is the focus of the canal — it’s where everybody gets loaded onto the water taxis.”
Several proposals to develop the lots were announced in past years, but they never materialized. Developer Harry McMullen sought to build a 10-story hotel on the corner lot west of the canal in 2000, but later abandoned those plans in favor of buying an aloe vera factory in South America.
Previous plans failed
In 2003, Bricktown property owner Jim Brewer, who controlled land on the east side of the canal, battled with McMullen over plans to build a hotel that would span the waterway.
When the city bought easements to build the canal, it left a narrow strip of land owned by Brewer that separated McMullen’s property from the canal. The arrangement gave Brewer control of land east of the canal, air rights over the waterway, and the narrow strip of land along the west side of the canal separating it from McMullen’s land.
The city council approved Brewer’s hotel plans over McMullen’s objections, but both sides of the canal remained undeveloped.
Cotton is interested in building a walkway or open patio that would link new buildings on both sides.
The Bricktown project will be Cotton’s first development, and he is still entertaining ideas for the property.
Cotton entered Bricktown in 2004 when he paid $1.95 million for a two-story building at 108 E California, immediately west of the McMullen property.
“I wasn’t planning on being an active owner at that time,” Cotton said. “But I’ve gotten very into it since.”
Cotton subsequently paid $2.7 million for the Bricktown Mercantile Building, 100 E Main (home to City Walk) and $600,000 for a one-story building at 329 E Sheridan that was last home to The Green Door.
Cotton paid $650,000 for Brewer’s side of the canal this summer and $1.475 million for the McMullen property last month.
Cotton said he’s anxious to begin construction, and is in talks to hire Bricktown architect Tom Wilson.
http://olive.newsok.com/Repository/getimage.dll?path=DOK/2006/12/12/12/Img/Pc0120600.jpg