The skyline in “Film Row” is set to change with new upscale apartment buildings- featuring a courtyard pool, and one on the roof.
“The Residence” will feature 345 units with an average rent of $1.60 a square foot.
The buildings will wrap about the new 21c Hotel and Museum on W. Main Street. The $66-million project will also feature parking garages that will also help support the hotel.
On Tuesday, OKC City Council approved $4 million in Tax Increment Finance funds. Councilman Ed Shadid was the only “No” vote.
“The lower income citizens of Oklahoma City are not going to be able to afford these developments we are using taxpayer benefits to build,” said Shadid.
The councilman feels the money could be better spent at local schools. He also feels developers would not have walked away if the city said no to the $4 million.
Construction on the apartments will last two years and is expected to start later this year.