A large-scale development News On 6 first told you about years ago is officially underway.

The Davenport Urban Lofts held a groundbreaking Tuesday, April 16 and will be built in the Tulsa Arts District near 4th and Main. Developers behind the Davenport Urban Lofts say it is something downtown doesn't have yet but has a big demand.

"It has been a long road, but we really are not in a hurry to do things wrong. So, we have spent a long time gathering the right team and meeting with our prospective buyers," said developer Doug Schram.

There will be 6 levels of lofts to purchase rather than rent, three levels of parking and commercial space on the street level. It will be one of the first opportunities to purchase condo property in downtown Tulsa.

The developers, Doug and Lori Schram, will also be living in one of the units and say there is a big need for people like them wanting to buy rather than rent in downtown Tulsa. They say there is a need for it - especially from empty nesters.

"People are saying 'We are living in 3,000 square feet but only using about 1,200 of it," said Doug Schram.  "They are tired of doing the yard and maintaining these things. So, this looks like fun. Let’s move down there and have some fun in the next phase."

They have done their research - planning this after visiting projects in other cities like New York and Chicago. It is all about community to them.

After all - the lot across the street will soon house the OKPOP Museum, and one block over - George Kaiser Family Foundation has a massive, though top secret, development planned.

"We are very excited because some of the last phases of developments in the Arts District will be in this area where we are," Lori Schram said.

"It is just nice to be able to have something to own, and that's the reason we started this project over four years ago."

Unit prices at the Davenport begin around $600,000.