924 apartment units have been presented to Oklahoma City council as a partnership with the city. The California based developers are asking the tax payers to cover about 25% of the three quarters of a billion dollar construction project via incentives that will provide 924 units of housing in 2027.
The proposed location is the surface parking near Harkins Theater, commonly known as the ‘Uhaul lot’ as it wraps around an existing Uhaul storage facility.
The California developer is asking for $205 million in public incentives on a total investment of $736 million.
The plans call for three 28 story residential buildings, a lagoon with a large entertainment area that would feature a large video wall, rooftop bars, structured parking for both residents and the public, and another similarly-sized hotel tower.
A fourth tower will be constructed as a upscale hotel called "The Dream Hotel" and is not included in the amounts referenced because it is ineligible for public incentives due to a convent that Omni hotel has with the City when it agreed to build nearby. The hotel would be in the northeast corner of the property and the 3 residential towers would be built along the western edge.
There remain required approvals for the public money, and ultimately City Council will have the final vote.
Information was gathered from OKCTALK.COM
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