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October 22nd, 2010 - Pamela A. Grady

Whatever happened to that?!?



In the Oklahoma City metro area and its surrounding communities, many development projects have been planned, talked about or reported as forthcoming.

apartmentssite7_7-06x5-29cmRendering of the proposed apartments
In the Oklahoma City metro area and its surrounding communities, many development projects have been planned, talked about or reported as forthcoming. Some projects took off and did well, while others never came to fruition. Some just fell off the radar.

OKCBiz takes a look at some of these commercial projects to see whether these deals are moving forward or dead in the water. Simply put, "Whatever happened to that?!?"           

Campbell Park Project
Campbell Street

The Plan: In 2006, attorneys Bert Belanger and Shannon Self, dba Sebe Holdings LLC, began investing millions to assemble, scrape and prepare a six-acre parcel with frontage on Campbell Park for high-density rental housing that would serve Downtown, the Capitol and the University of Oklahoma Health Sciences Center. Eleventh Street properties and alleyways were vacated, which included removing an abandoned nursing home, a junkyard and dilapidated housing for sex offenders.  

The Problem: Belanger says the duo has been persistent, yet patient in its search for potential buyers to develop the inner-city infill redevelopment project.

The Prospect: In September, owners of the six acres authorized an aggressive campaign to market and sell the land to a strong regional apartment developer. Several candidates have been identified and already expressed interest.

"This six-acre parcel ... positioned as the north 'bookend' of Automobile Alley, will take time, but will be a spectacular neighborhood," Belanger says.

He says the tract, located within TIF District No. 2, is eligible for significant assistance from the city of OKC. The city already has pledged to create a "quiet zone" along the railroad tracks from 16th to 7th streets to make this project and other large-scale developments possible in Automobile Alley and the medical business district.

OIPA Grounds. Photo/Shannon CornmanOklahoma Independent Petroleum Association Headquarters
Fourth Street and Lincoln Blvd.

The Plan: In January, the OIPA's board of directors approved the design of the association's permanent headquarters, and $4.6 million had been pledged to fund its construction. The three-story building, designed by Benham Companies, will feature offices for Oklahoma Energy Resources Board on the ground floor, with OIPA on the second. The third floor will be home to Legacy Hall, a reception and meeting area with sweeping views of Downtown to the west and the Capitol to the north.

Legacy Hall would give the OIPA the ability to host board meetings, legislative receptions and banquets. The space also could be used for OERB student education efforts and teacher training.

Included in the building design are guest offices and smaller conference rooms that would be open to legislators and OIPA members.   

The Problem: Construction has yet to begin.

The Prospect: The OIPA initiated its "rooftop campaign" in an effort to raise an additional $3 million to cover land and construction costs and fund the association's foundation, which would help provide the building's maintenance.

picture Rendering of proposed apartments.
photo OIPA Grounds. Photo/Shannon Cornman
 
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