Boulevard Place

[G.Walker]

This should be breaking ground soon than, finally....

[Pete]

My understanding is that work will start this spring.

[Pete]

New target for construction start is May 15th.

[Pete]

OCURA just agreed to extend the start date of this project to December 1, 2022 and the completion date to December 1, 2024.

The developers are attempting to finalize financing and a good chunk will come from HUD, which is notoriously slow.

They have already received OCURA approval for their detailed plans, so it's just a matter of finalizing financing then this project should start to move forward.

[BG918]

High construction costs have likely played a part. And yes HUD is difficult but worth it for their long-term fixed-rate, non-recourse financing

[G.Walker]

Question: Doesn't financing have to be secured by the developer at the time a bid is awarded for an RFP with OCURA?

[Pete]

Question: Doesn't financing have to be secured by the developer at the time a bid is awarded for an RFP with OCURA?

No.

You can't get financing until you have a detailed plan.

They select conditional developers based on their track record and overall plan. They have to perform on an agreed-upon timeline and they are not allowed to purchase the property until all conditions are met.

All the OCURA deals have a generous time allotment to obtain the necessary financing because it's always a long and complicated process.

[BG918]

I know someone who works for HUD. His sole job is to log in the applications and check for completeness. He gets a full week to do this before the application gets “picked up” by another reviewer. Then sent to another reviewer. And that’s just the pre-application. Government bureaucracy at its finest.

[taha]

randomly came across this thread, honestly wish i had more patience but it's very exciting to start seeing the work go up in this corner sooner than later!

[Pete]

These things take time but hopefully we start to see some movement at the end of the year.

[chssooner]

Any updates on this? Not assuming it is on hold, but is it delayed? Or just due to supply chain issues?

[Pete]

December is the new estimated start date.

[HOT ROD]

I guess that means it will start next year then, since does any major construction ever start in December? Dont they usually wait for the weather to 'cooperate'?

[NINfan1231]

There are bobcats and some type small crane on the site.

[Pete]

It looks like they are taking core samples.

Their building permit has not been issued as of yet and the last official word on this is that they would start construction in December.

Still, this is a sign of forward movement.

[LocoAko]

Forgive me if this has already been posted and I missed it (the filing is from July), but the latest filing with the Downtown Design Review Committee summarizes the design changes being sought, which have to be re-approved.

[Canoe]

It looks like they are taking core samples.

Their building permit has not been issued as of yet and the last official word on this is that they would start construction in December.

Still, this is a sign of forward movement.

Pete have you heard anything new about the project located on the old goodwill site?

[Pete]

Pete have you heard anything new about the project located on the old goodwill site?

I asked the city about this about a month ago and there has been no movement.

Mazaheri (the owner) was required to have submitted plans by now or face fines. He is far past the deadline.

[Canoe]

I asked the city about this about a month ago and there has been no movement.

Mazaheri (the owner) was required to have submitted plans by now or face fines. He is far past the deadline.

If the city or judge does not enforce the agreement then this is bad governance.

[therhett17]

Any update with this project? Figured we'd see some movement by now

[Pete]

Last I heard, work had been delayed to December.

However, I just checked the status of their building permit and the developers have still not responded to requests from the city for more information. In other words, the ball has been in their court for months without any movement.

I'll check with the Alliance to see if they can provide an update.

[soonerguru]

Has anything happened with this development?

[Pete]

A new TIF award has been initiated for this project.

Originally, there was a $5.7 million TIF that received final approval in 2021; this is to be rescinded.

Now the amount is $21.5 million against a total investment of $82.8 which equates to 26% of the budget.

[Richard at Remax]

When does it end? My goodness

[Pete]

I expect we are going to see the same sort of TIF increases for Alley's End.