Dan Dill?
That's kind of along the lines of Rainey Williams, although this is a more appropriate project for a new developer.
Dan Dill?
That's kind of along the lines of Rainey Williams, although this is a more appropriate project for a new developer.
Only developments that come to mind immediately are Dollar general stores and Goodwill. but I am sure he has done others but lets hope they develop this into a great piece of property for the surrounding Districts or flips it to someone who will.
We discussed it at a staff level a few times (extending UDC east of the Plaza District area). The tough part is that the regulations for UDC are generally written to discuss commercial development, not single family or small multi-family residential, which is what happens on 16th between Blackwelder and Classen.
I think Classen from the Blvd to NW 23rd would be a good addition to UDC area...
^
Good point!
In that case, the new building would run N/S between 16th & 17th.
Wonder whatever happened to the awesome Herman's sign. It was a good one.
Steve's update on the old Herman's location.
Classen verve: Oklahoma City developers buy former Triples restaurant, Farmers Market properties | NewsOK.com
The article also includes an update on the same group's plans for the Farmer's Market District and Classen Blvd.Pivot Project bought the 1.1-acre site for $750,000 on Friday, though the three have yet to decide on a plan for how to redevelop the site.
Haha... I should probably charge a commission on this transaction as I called Ben right after Dan & Justin Dill bought the property and told him the Dills' development plans had fallen through, as they bought with the intention of leasing back to a specific retailer.
In fairness, Ben said he had been trying to acquire the property for years but couldn't get anywhere as the owners didn't speak English well and were very hard to track down.
Really happy to see it's in great hands. The property is a gateway in and out of the Plaza District.
This is one of the properties I was alluding to a month or two ago in the Classen thread when I said that there were some key properties about to change hands that would stabilize and kickstart development on that corridor. Their plans for this property are really fantastic, and there is more to come.
Dang…a 50% return in less than a year?
Sign me up for that, please!
Really not my place to repeat specifics of what I was told, sorry. I just knew the property was close to closing, and that there were already some thoughts on how they would probably like to proceed.
I agree, these are good/bright/driven guys all, and you can bet that it will be thoughtfully redeveloped.
Preservation and destruction: Firm rehabs some buildings, removes others
By: Molly M. Fleming The Journal Record November 12, 2015
OKLAHOMA CITY – A development team making headway around the city is going to tear down one of the buildings it purchased this summer.
The former Herman’s Seafood restaurant at NW 16th Street and Classen Boulevard will be demolished, said Jonathan Dodson, a partner in the firm The Pivot Project. His partner Ben Sellers said the 1.1-acre site is being studied for a mixed-use, multifamily development. He said it will fit in with the neighborhood. David Wanzer is the third member of The Pivot Project team.
Sellers said the demolition has been a point of contention with Dodson and his son, who wanted to save the building that dates back to 1949.
“We’re saving a lot of historic buildings, but that won’t be one of them,” Dodson said.
Dodson and Sellers spoke Thursday at the Commercial Real Estate Council luncheon about other buildings the team is saving and refurbishing.
Pivot Project is in the middle of renovating the Tower Theatre on NW 23rd Street. In October 2014, the team purchased the theater and some surrounding retail spaces, totaling 30,000 square feet. Dodson said 4,400 square feet of retail space and 3,000 square feet of second floor office are still available.
“All the leases have been at 20 percent higher than what we were underwriting a year ago,” Sellers said.
Levelland Productions has a 15-year lease on the former theater and a two-story spot east of the auditorium for the Savings and Loan cocktail bar. The bar will open in December, Dodson said. The theater is expected to open in early 2016. There is another bar planned for the west side of the development, but few details were given about that project.
Like many historic renovation projects, the developers have come across unexpected challenges. Sellers said the surprise in this development was the cost for restoring the Tower Theatre sign, which had a price tag of $85,000.
Sellers and Dodson also discussed the Sunshine Cleaners building, NW First Street and Classen Boulevard. It will house a restaurant and a brewery with a taproom. Joel Irby, a Colorado brewer that is originally from the area, will run the bar.
“He is preparing the taproom with the anticipation that state (liquor) laws will change,” Sellers said.
The restaurant is a separate business from the brewery and taproom.
“We also bought a boat,” Sellers said, pointing out a projected photo that showed a boat that was included in the sale sitting in the non-roofed building.
The building has windows along Classen Boulevard. The dividing wall between the restaurant and brewery will have similar windows, which will allow people to see into the restaurant and also view the brewery. Work on the Sunshine Cleaners building won’t start until 2016.
The problem with preservation in OKC is that someone could possibly conflate this structure with something one would preserve... How is that even a question??
Pretty sure this is the same JR reporter who believes buildings built since 1934 aren't eligible for historic rehabilitation tax credits. I don't think any of you realize how important it is that we have someone like Steve who truly gets it and will responsibly and intelligently frame the debate.
Sellers said, in jest, that Dodsons son, who's 8. Wanted to save the abandoned restaurant. I don't think molly wrote it quite right. No one that I've heard, is contesting that old thing torn down and the acre repurposed.
Nobody will protest the demo. If anyone honestly believes that will happen, they have an incomplete understanding of what drives the HP argument, and also of the concept of higher and better use. On multiple levels it is all but impossible to argue that this building qualifies for HP protection, or even consideration of such.
If there are protests it will come from neighborhood NIMBYs who don't want adjacent multi-family/mixed-use, however the site is perfect for this and it will be an incredible addition to the area.
I feel like that's unique, and highly disturbing. As someone who knows Steve relatively well, I can tell you that he has always known almost every issue inside and out. I think sometimes he's overlooked transit nuances or had to play a steady hand in situations that involved either Shadid or Nichols, where he burned a lot of OKC Talk's readership, but all in all Steve is typical of a breed of downtown reporters that really get it. Every major city has that one beat writer covering downtown development who probably knows enough to do downtown development themselves.
I have come to expect that from those who play a huge role in framing the issues within the local discourse. If the JR is recklessly reporting and failing to practice issue leadership, then the JR needs to be dumped. There is no excuse for not knowing the 50-year threshold with historic tax credits. That's basic. I won't fault a journalist for not knowing specifically how the Secretary of Interior Standards change for projects that leverage both the historic and low-income housing tax credits, but not fact checking a claim that disqualifies something as significant as Villa Teresa is a huge trust issue.
I think in 2015, critical thinking is pretty much mandatory for all of us, regardless of what job we do.
Caught fire early this morning.
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