A $36 million mixed use development that would have added two buildings, 12 and four stories high, to the Bricktown Canal is officially dead.
Gary Cotton unveiled plans in January that included a team that consisted of Architectural Design Group, Timberlake Construction and Sperry Van Ness. The project would have included 66 condominiums, parking, office and retail spaces.
"I'm stalled,” Cotton said Tuesday. "I'm not going forward with anything at this point. We have a really good plan. But moneywise and marketwise, we can't make it happen.”
Cotton said he still believes the project is important to Bricktown, and he still has "a few things up my sleeve I'm working on.”
But, he said, he is nearing a decision to sell what is considered the best undeveloped raw land left in Bricktown.
"I should sell them,” Cotton said. "I don't want to. If I could get the right backing, I'd still like to move forward. But if I can't, I'll have to sell because that is very expensive property to hold.”
Business Writer Steve Lackmeyer