The Tulsa Development Authority voted unanimously this morning to accept Brickhugger LLC’s proposal to redevelop the old City Hall complex.
Owned and operated by the Synder family, responsible for the recently completed renovation of the Mayo Hotel, Brickhugger emerged in March to make a $1 million offer on the property, which has been vacant since City operations moved to One Technology Center in 2008.
A competing offer had been made by Omega Alpha Development, owned by Tony Lombardi of Stan Frisbie Real Estate.
After nearly two hours in executive session, TDA Chairman Julius Pegues said the board of commissioners evaluated the two proposals and made this decision based on the qualifications of the RFP for the site, which was issued in June. Brickhugger’s final offer for the site was $1.2 million.
Brickhugger’s plans for the site include a 200-room convention hotel in the old City Hall building, as well as 60,000 SF of retail space in buildings surrounding the hotel. Brickhugger co-owner Macy Snyder said the group also plans to build a restaurant and conference center in the old City Council chambers, and to extend Fifth Street to the convention center.
Snyder said the cost of the project would be around $29.5 million, and construction on the hotel would take roughly one year to complete.
The TDA is expected to review a final contract proposal from the company by Aug. 5.
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