'The View' Apartment Building In Tulsa Ground Breaking Begins In January
TULSA, Oklahoma - The developers of The View apartments are finally ready to break ground next month but many of the changes coming to this block near Archer and Elgin are only possible thanks to recent legislation.
200 apartments, two pools, including one on the rooftop, and prime living for people wanting to live by Drillers Stadium.
"Residents that live in any kind of housing downtown they want to be in the middle of the activity," said Steve Ganzkow of American Residential Group.
Ganzkow says The View will be one of the first of its kind in the entire state of Oklahoma an apartment project being built in a designated opportunity zone, which is part of a tax and jobs act passed in 2017.
"The investors that invest in this property have deferral on all capital gains and ultimately the profits that are invested in this property are tax-free," said Ganzkow.
Meaning those dollars can be invested back into the project.
"The benefits of these opportunity zones allow us to offer some things we are not able to if they weren't available," said Ganzkow.
Like more affordable units specifically for people who work downtown. It isn't just the View as right across the street the soon to be Valley National Bank corporate office building is going up and the Holiday Inn Express will open in the next month.
"Just being in the district it is a great opportunity and great for travelers because the district itself kind of caters to every genre of traveler," said Kimberly Honea, the VP of Sales for Promise Hotels.
American Residential Group purchased the entire block where the View will be built in 2015 from the Tulsa stadium Trust with the goal of completing this type of redevelopment.