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Developer chosen for MidTown Oklahoma City housing project

Gary Brooks and Mike Henderson were chosen by the Oklahoma City Urban Renewal Authority to develop apartments on the former site of Mercy Hospital in MidTown.
by Steve Lackmeyer Published: June 21, 2011
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photo - This rendering for the Edge shows a revised design along Walker Avenue that now includes the leasing office, clubhouse and retail replacing apartments on the ground floor.  Provided
This rendering for the Edge shows a revised design along Walker Avenue that now includes the leasing office, clubhouse and retail replacing apartments on the ground floor. Provided

Wiggin declined to comment after the vote. Wiggin was selected by Urban Renewal in 2008 to build a $62 million, 109-unit Overholser Greens on the same site despite warnings that the project was not viable due to a declining condominium market nationwide. Brooks prevailed over Wiggin after telling commissioners he had doubts the higher-priced project would win HUD-backed financing.

“You're not picking a horse,” Brooks said. “HUD is the horse. You're picking the rider.”

After asking both teams questions about HUD financing and the costs of their projects, commissioners voted without making any statements about their choice. Russell Perry was the lone vote for Wiggin.

After the vote, a visibly tired Brooks shook hands with Wiggin. He said he had spent considerable time the past two weeks answering questions submitted by Urban Renewal staff. He said the project is a priority for him and he hopes to start construction within one year.

by Steve Lackmeyer
Business Reporter
Steve Lackmeyer is a reporter and columnist who started his career at The Oklahoman in 1990. Since then, he has won numerous awards for his coverage, which included the 1995 bombing of the Alfred P. Murrah Federal Building, the city's Metropolitan...
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About

Cornerstone Development

(The Edge)

Led by: Gary Brooks and Mike Henderson

Proposal: Six stories, with a rooftop terrace and dog park, 500-space garage, featuring 8,200 square feet of retail and 250 rental units with monthly rates between $735 and $1,395.

Cost: $28,219,041

Proposal land purchase: $850,000

Requested tax increment financing assistance: $1.5 million

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