EastPoint

[warreng88]

Surprised this hasn’t been posted yet:

https://www.oklahoman.com/story/news...r/65369717007/

[Pete]

They are asking for $3.88 million in TIF on a $26 million project; works out to be 15%.

[HOT ROD]

precedent has been set on what to ask for with TIF, so no surprise in the 15%.

However, in this case I think it is a good use of the funds in that it will help the continued revival of the Eastside and will provide future opportunities for minority businesses with the micro streetfronts. I'm somewhat skeptical of the location but, if done right this could really help the Eastside in a big way. I just hope they don't go too far with the labels that otherwise might scare away visitors or investment - I hope they find a balance between gentrification and "racial" preservation/evangelization. I'd say the same for a hotel development charged to promote white achievement; find a balance that doesn't scare people away.

[Pete]

^

The average TIF award has been under 7%:

https://www.okctalk.com/showthread.php?t=39599

[shawnw]

Too bad "The Ellison" has been taken...

[Urbanized]

Something like this is EXACTLY what TIF is intended for; the market would never have allowed this development to happen without that level of assistance, and this area (and by extension all of OKC) will benefit immeasurably from its completion.

Decades of institutional redlining have driven comps to a point where it is all but impossible - not an exaggeration - to borrow money in this area. This project will make it easier for future developers (borrowers) to finance their projects, and will lift this area from generations of community neglect. 100% a correct use of TIF; even of exceptionally generous TIF.

[David]

https://twitter.com/OKC_SPAN/status/1549399944481628161

The Phase 3 hotel was presented to city council this morning and a vote on it passed, though I am not sure what that vote was approving.

[Pete]

[onthestrip]

Nearly $350,000 per key, wow! You'd think that would be a very risky investment based on location but maybe not when you only put in 3% of equity and ask for $50,000 per key in TIF money. Considering where this is going, maybe its a good use of TIF, hope it works out for the best.

[Pete]

Building permits have been filed for the Hamlin hotel:

[5alive]

Love it!

[G.Walker]

That was fast, glad to see this come to fruition. Will help spur more development in the area, good deal!

[baralheia]

The building is a bit plain and nondescript, but this should be a great addition to the area and hopefully it helps jumpstart other rejuvenation projects.

[soonerguru]

I think the desire is to add a bit of character to the otherwise quite "ghetto" stretch of 23rd. I love it and really love the interaction with the street!

Hopefully this will be the start the Eastside needs to truly defining what they want to be.

FYI, 23rd street does not resemble a ghetto now, and the use of the term is pretty passe to be honest.

This will go a long way toward overcoming decades of redlining and disinvestment in the area.

[Canoe]

The building is a bit plain and nondescript, but this should be a great addition to the area and hopefully it helps jumpstart other rejuvenation projects.

I tend to agree. It fits in with the government buildings in the area, but that isnt a good thing by my taste. I was hoping for more details on the outside of the building.

[Mississippi Blues]

I like it. I doubt this is what they’re going for but it makes me think of Scandinavian architecture with its focus on minimalism and functionality. What comes to mind is some of the work by Vilhelm Lauritzen Arkitekter in Copenhagen.

I think focusing on incorporating it into the surrounding network will help cement this entire project as a vital step for the revival of northeast side. The inspiring and captivating architecture will come hopefully but this is the part where some things will have to walk or even crawl in order for future developers and investors to run.

[baralheia]

I like it. I doubt this is what they’re going for but it makes me think of Scandinavian architecture with its focus on minimalism and functionality. What comes to mind is some of the work by Vilhelm Lauritzen Arkitekter in Copenhagen.

I think focusing on incorporating it into the surrounding network will help cement this entire project as a vital step for the revival of northeast side. The inspiring and captivating architecture will come hopefully but this is the part where some things will have to walk or even crawl in order for future developers and investors to run.

This is a really good point. I look forward to this project and the impact it will have on the surrounding community! Hopefully this will help spur further investment on the Eastside.

[Pete]

Hamlin hotel:

[HOT ROD]

Very

nice!!!

[SEMIweather]

Gotta make the exterior Hamlindigo Blue, IMO

[catch22]

Gotta make the exterior Hamlindigo Blue, IMO

This is pure chicanery. An outrage!

[HOT ROD]

any update on this?