Multimillion-Dollar Apartment Complex Proposed for Downtown OKC

A multimillion dollar apartment complex could soon be coming to the heart of downtown OKC.

On Tuesday, Oklahoma City City Council members heard plans to turn an empty space into modern living.

It’s a space the developer believes could be a haven for young professionals.

It may not be noticed by every passerby. What was once a place of temporary refuge, now finds refuge behind pines, oaks and chain-link at the corner of Main and Dewey.

Kevin Harris did notice.

“We saw the building while we were walking and said, hey what’s happening here?" said Harris.

The answer was not a whole lot since the Holiday Inn sold the building in 1993.

“It’s going to be a beautiful building when it’s finished,” said Harris. “I would have loved to live here when I was a young professional.”

He’s referring to the place his company, Infiniti Investment Solutions, plans to create.

That was also his pitch a block away at City Hall as he talked about the 204 studio apartments and amenities including a clubhouse, indoor pickleball courts and an event center.

“Having 204 apartment units with folks living in them will generate a lot of activity,” said Economic Development Program Manager, Joanna McSpadden.

For McSpadden, that activity is worth the $1.9 million in funding from the city through Tax Increment Financing.

“Mainly, we’re looking at the gap in financing needed to incentivize the completion of the project,” McSpadden said.

To Harris, it’s worth spending $20 million.

Harris said he likes to develop projects in OKC because the city is willing to invest.

He added that their Sooner tenants also pay their rent.

“Of all the places we’ve done business before - and I think we’ve done it in 12 states – I think the thing we love most about Oklahoma is that we have almost zero tenant delinquency,” said Harris.

He believes it is part of the state’s culture.

“It reminds me of the days when you used to be able to do a business deal with a handshake,” he said. “That doesn’t happen that often these days.”

It’s a culture he believes will see the possibilities behind the pine, oak and chain-link.

The proposed complex is called The Pulse. It has a price point of $875.

Harris hopes to have a finished product in 12 months, but the council will have to approve the plan first.

It is up for a vote on September 26th.