Brooks said he is contemplating combining the first phase of 250 apartment units and the second phase of 100 units and building them all at once. The entire site will ultimately span the north side of Sheridan Avenue between Lincoln Boulevard and Joe Carter Avenue.
The project also will include structured parking garages and 20,000 square feet of retail along the first level of the complex facing Sheridan Avenue.
Burnett said the property represents one of the last big development opportunities left in the entertainment district.
“I've liked this site for a long time but because of all of the underground issues it was hard to tackle,” Burnett said. “It's hard to find 4.5 acres in the downtown core. The only reason this hasn't been developed is because of the site costs. This site is the gateway into Bricktown for anyone coming from the east or south side of the city. For the past 40-plus years, the metal fabrication buildings were your first sight coming into Bricktown.”
Brooks praised Meinders for patiently working with the development team and working through the complicated arrangements. Brett Price, who represented Meinders on the sale, predicted the development will spur interest in the south side of the street, part of which has been sold for future hotel construction, but the remainder of which is undeveloped.
“I am excited to see the next chapter for this property,” Price said. “The future of east Bricktown just got a lot brighter. We still have some land available in that area but with all the momentum and buzz in that area we don't anticipate it being available for very long.”
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This was a big milestone. But we have a lot more milestones in east Bricktown than on most other projects.”
Bricktown Apartments LLC