$36M M-F Project Under Way on Old Mercy Hospital Site
By Gabriel Circiog, Associate Editor
Developer Gary Brooks has broken ground on a $36 million upscale multi-family project on the former Midtown site of Mercy Hospital, newsOK.com reports. Scheduled for completion in 2014, The Edge at Midtown will feature 250 apartments.
If it comes to fruition as expected, the project will complete a process that has endured several false starts since 1988. That year, the city acquired and cleared the site at NW 13th St. and Walker Avenue. Originally Nicholas Preftakes proposed an apartment complex on the site, but it failed when the Oklahoma City Urban Renewal Authority turned down his request to purchase the duplexes across the street. That property was deemed blighted at the time but has since then been redeveloped into offices. In 2008, the agency tapped Chuck Wiggin to build a $62 million, 109-unit complex on the site, but the credit crunch scuttled that project.
Brooks was selected in Aug. 2011 after the proposal was reviewed by the architectural firm RTKL and approved by the Downtown Design Review Committee. The Edge project was designed by Bedford, Texas-based GTF Design, and the general contractor is Lewisville, Texas-based N.E. Construction. Crain Mortgage and the U.S. Department of Housing and Urban Development provided financing.
In other local news, okc.BIZ reports that entrepreneur and developer Chris Johnson plans to renovate a vacant 6,968-square-foot warehouse at 229 E. Sheridan, which he acquired in April for $500,000. Johnson, CEO of USA Screen Printing and Embroidery Co., plans to renovate the 60-year-old property. He is betting on the property’s close proximity to the planned Hilton Garden Inn and Homewood Suites to help attract a national tenant.
Tags: Development, leasing, Maintenance, Policy, property management, retail