TULSA — The Atlas Life Building may be the next downtown Tulsa property to undergo a makeover and conversion from office space with new owners planning to turn the Art Deco landmark into a hotel.
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The Philtower, just next door, is already home to condominiums, while planning is under way to convert the nearby Mayo Hotel and Mayo office buildings into housing. All of the properties were either empty or plagued with high vacancy rates.
Jeff Hartman, operating partner of SJS Hospitality, joined with Mayor Kathy Taylor on Monday to announce the Missouri-based hotel group's purchase of the 12-story office tower, 415 S Boston Ave., from Kanbar Properties for $1.7 million. The group plans to spend up to $15 million converting the building in two years into a 120-room Courtyard by Marriott.
Taylor said downtown Tulsa needs more such conversions as the city prepares to host the National Preservation Conference in October.
"This sort of activity allows us to attract more people to downtown,” Taylor said.
Hartman said the decision to renovate an old building was an easy call as he and his partners sought to open a hotel downtown.
"We definitely wanted to get into the downtown market,” Hartman said. "It's very difficult to find open land (downtown) to build brand new from the ground up. So we started to look at a concept in our industry known as adaptive re-use.”
Hartman said his search included working with a team at Marriott Hotels that specializes in adaptive re-use projects and together they looked at several downtown Tulsa properties.
"The Atlas Life Building worked out perfectly,” Hartman said. "It's smack dab in the middle of the financial business district and this will target the upscale corporate guest. It's a great chance to move into the downtown market.”
The building is 35 percent occupied, and Hartman said he is working with Kanbar Properties to offer space in other downtown buildings for office tenants at the Atlas Life Building.
Hartman said talks are under way with the building's veteran ground floor tenants — the Tulsa Press Club and the Atlas Grill — to stay through the renovation and after the building is reopened as a hotel. He said the building's four-story neon Atlas Life sign will also stay in place.
"That's something that is recognized and adds to the distinction of this building and hotel,” Hartman said, adding he is looking into whether Atlas Life can be incorporate into the hotel's name.
Hartman said he is uncertain whether tax credits might be needed for the project. He said the owners will first have to determine whether the tower, built in 1922, is eligible for the National Register of Historic Places.
Hartman said he is hoping to reach an agreement with the owner of the neighboring Philtower garage for parking. The architect is set to be Tulsa-based GH2, and the contractor is Missouri-based Thomas Construction.
Taylor said the Atlas Life announcement adds to downtown Tulsa's revival, which will soon include the opening of the $178 million BOK Center arena.
"This is a great historic property that will be re-used,” Taylor said. "Downtown Tulsa has such a concentration of historic architecture and it's very helpful to have this with Williams Center and BOK Center and the Tulsa Performing Arts Center.”
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The Atlas Life Building 415 S Boston Ave. sits between two downtown Tulsa landmarks — the the Mid-Continent Tower and the Philtower (shown to the right). Provided by SJS Hospitality
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