The former Legacy at Arts Quarter, now known as Avana Arts District, is getting a makeover that will include an update of the white stucco facade that has drawn criticism since the complex opened in 2007.
Greystar Real Estate Investors, based in Charleston, S.C., and founded and led by Oklahoma native Bob Faith, paid $48.75 million (about $161,000 per unit) for the 303-unit complex last August. The complex is 93 percent occupied.
A drawing recently distributed to residents shows the removal of vinyl retail awnings on the first retail floor to be replaced by modern metal awnings and a darker-shade facade.
Clay Wolford, Senior Director of Investments for Greystar, said the owners hope to start improvements by late spring with completion by winter.
“So far we have only shown conceptual renderings, but the feedback has been overwhelmingly positive,” Wolford said. “Residents of Avana Arts District and others in the community are incredibly excited about the project and look forward to seeing it in its final completion.”
Other improvements will include a renovation of the clubhouse, the addition of a new outdoor pet park, a makeover of the pool, outdoor grills, pool furniture and other amenities.
“Our desire is to bring the asset to an even higher level — one that stands apart from other luxury apartment communities, fits in better with the unique vibe of the Arts District and coincides with the greater improvement projects in downtown Oklahoma City,” Wolford said.