Editor's note: The audio version of this story contains language that could be misleading. Written proposals from Clayco and Milhaus both discuss plans for a public-private partnership, and government incentives.
Downtown Oklahoma City is growing and there is need for more office, commercial and residential space. The Oklahoma City Urban Renewal Authority called a meeting this past Tuesday to talk about the empty lot at the southwest corner of Sheridan and Hudson avenues.
The property is the future home of the new OG&E building, but the Urban Renewal Authority also owns 3 acres to the south of that lot. After requesting development proposals the authority told the Journal Record's Molly Fleming that it received responses from two national companies, Chicago-based Clayco Construction Co. Inc. and Indianapolis-based Milhaus Development, both of which already have ties to Oklahoma City. But what about the question of how much development is too much?
Milhaus is confident that they could fill them. The company has done similar projects in other cities like Indianapolis and they're also building the Lift apartments in mid-town, so they're pretty confident about Oklahoma City. If they did build this project they expect rates to would be about $2.10 per square foot, so if you have a 750 square foot apartment that would run$1575 a month. But one this about this that it doesn't address is the need for homes that families can own downtown. These are still just apartments and, who knows, maybe condos.
Brooks said that things are going to be different in the OKC arts scene because of downtown development. The Journal Record reports that the 2016 Festival of the Arts will move to either Bicentennial Park or the east side of the Myriad Gardens.
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