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Urban Renewal Authority Considers Downtown Oklahoma City Development Proposals

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Brent Fuchs
/
The Journal Record
The former site of Stage Center and future home of OGE Energy Corp. headquarters in Oklahoma City.

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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The Business Intelligence Report is a collaborative news project between KGOU and The Journal Record.

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Brian Hardzinski is from Flower Mound, Texas and a graduate of the University of Oklahoma. He began his career at KGOU as a student intern, joining KGOU full time in 2009 as Operations and Public Service Announcement Director. He began regularly hosting Morning Edition in 2014, and became the station's first Digital News Editor in 2015-16. Brian’s work at KGOU has been honored by Public Radio News Directors Incorporated (PRNDI), the Oklahoma Association of Broadcasters, the Oklahoma Associated Press Broadcasters, and local and regional chapters of the Society of Professional Journalists. Brian enjoys competing in triathlons, distance running, playing tennis, and entertaining his rambunctious Boston Terrier, Bucky.
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