Montgomery, The

[Pete]

[category=]Housing[/category]
[category=]Arts District[/category]
[category=]Retail / Service[/category]
[category=]Buildings with Retail Space[/category]

[toc]no[/toc]

Address: 500 W. Main Status: complete Owner: Gardner Tanenbaum Cost: Architect: Start Date: Finish Date: 1929 Contractor: Height in Feet / Floors: Sq. Feet: 128,469 Acreage: 6 stories Other: 56 apartments

Information & Latest News

Milestones

Tenants

• Trattoria il Centro (closed)
• Express Personnel

Links

County Assessor Record
Property website
Gallery

[Pete]

$1,000,000 building permit to convert the 2nd floor of The Montgomery to apartments.

I believe the 2nd level had remained offices while levels 3-6 were living units.


There are currently 56 units and I believe this will add another 14.

[BoulderSooner]

very cool

[CCOKC]

I looked at that office space about 5 years ago just for funs when we were looking to move our office downtown. I am not sure if it has been empty that whole time but it was not very impressive as office space. The apartments on the other hand I like very well.

[Spartan]

This move will also increase revenue streams for Tanenbaum, especially if the Trattoria space doesn't lease soon.

[Martin]

have there been any updates on filling the vacant restaurant space? -M

[Pete]

This move will also increase revenue streams for Tanenbaum, especially if the Trattoria space doesn't lease soon.

He just sold the Lincoln at Central Park Apartments for $77 million, so he's got a ton of cash.

Hoping he pumps a lot of it into Lincoln Plaza and he would still have plenty left over for another downtown project or two.

http://newsok.com/philadelphia-inves...rticle/3671383

[Spartan]

Tanenbaum even has way more than that if you consider how successful his warehouse and industrial developments have been, and that the guy is so much more balanced than just a downtown developer. That's why his developments aren't always best urban practice (ie., Mercy site) but are among the most successful downtown housing projects.

That said, I was just referring to how Tanenbaum hasn't turned a profit on the restaurant space in a long time because he was floating Trattoria rent, just as a nice guy, long before they had to bite the dust.

[Just the facts]

That said, I was just referring to how Tanenbaum hasn't turned a profit on the restaurant space in a long time because he was floating Trattoria rent, just as a nice guy, long before they had to bite the dust.

That isn't always a bad idea though because urban amenities help create demand and lease apartments at higher rents. Suburban apartments don't make any money off of their pools, but the presence of the pool increases the demand for the complex and allows them to charge higher rents than apartments without pools.

[wschnitt]

That isn't always a bad idea though because urban amenities help create demand and lease apartments at higher rents. Suburban apartments don't make any money off of their pools, but the presence of the pool increases the demand for the complex and allows them to charge higher rents than apartments without pools.

Agreed. I believe Legacy at Arts Quarter does free rent for their storefronts.

[Pete]

Building permit today to convert the old Trattoria Il Centro space to offices.

[mcca7596]

Building permit today to convert the old Trattoria Il Centro space to offices.

That's somewhat disappointing.

[Pete]

I'm sure they did their best to find another restaurant tenant, as it's a great amenity for the residents.

It also was already built out for that purpose, so you think that would have been a good draw.

[Urbanized]

Wow. Bummer.

Personally I think Main is ripe for entertainment/dining-focused development as the streetscape winds up. I think eventually it will knit together between the Montgomery and the Main Street Arcade, which is all but part of Film Row as it is.

Having seen it happen firsthand along Broadway and also the Plaza District (I lived a block off of 16th during the 2004 streetscape), I'm a big believe in streetscapes as a catalyst for redevelopment, and I think Project 180 may have as much of a profound effect on Main, long term, as anyplace.

[Spartan]

I still think picking up a new floor of housing in the Montgomery offsets not finding a restaurant tenant. Downtown may be over-saturated with restaurants.

[Praedura]

Cool shot from The Montgomery Event Center facebook page



Devon Tower appears to have been in LED testing mode when the pic was taken.

[Praedura]

They've updated their web site, it would appear:

Home | The Montgomery





Apparently, the renovation of the second floor is complete.

[OKCisOK4me]

On which face of this building are there apparently balconies??

[Chadanth]

On which face of this building are there apparently balconies??

I think that's the entrance to the rooftop deck.

[Teo9969]

I think that's the entrance to the rooftop deck.

It looks completely closed in...

I've been on the deck, although only for a brief moment at night, and I don't remember anything like that.

[Richard at Remax]

Plus I didn't know it was on a large river

[Teo9969]

I was trying to figure out what looked so off about that picture...Thank you, worthy!

[shawnw]

I was there on Sunday and got a full tour of the second floor. Nowhere near done yet (still sheet rocking and putting in cabinets and such). Also went onto the roof (as well as saw all the amenities). Didn't see anything like that photo anywhere.

[Chadanth]

Maybe it's a stock pic. I looked at a couple units a while back and they said they were re-doing the rooftop area.

[Pete]

If you look closely at the background of that photo, it's actually on a river and it's definitely not anywhere in OKC.