Indy Developer to Break Ground in Oklahoma
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Milhaus will begin construction next month on a $42 million apartment complex in Oklahoma. The 300-unit, mixed-use housing project is the company's first in the state. June 30, 2014
News Release
INDIANAPOLIS, Ind. – Milhaus has closed on financing and is beginning construction on LIFT, a $42 million, mixed-use development with 329 residents in the revived Midtown district of Oklahoma City. This is the company's first project outside Indiana and neighboring states.
LIFT is located on 3 acres at the northwest corner of 10th Street and Shartel Avenue and will be comprised of four and five story buildings. In addition to residences, there will also be 4,700 sq. ft. of commercial space and a 445-space parking garage. The leasing office and first residences are scheduled to be available in the summer of 2015.
There will be a wide range of unit types including eco-suites, studios, as well as one-, two- and three-bedroom residences. “With so many options, more OKC residents can experience a high-end urban lifestyle while keeping monthly rent costs in check,” said Terry Hughes, Vice President of Development, Milhaus. “Midtown is a thriving neighborhood, and LIFT will add much needed housing and help to create the critical mass to ensure the long-term vitality of the area.”
LIFT features high-end amenities that make it an attractive living option, including:
-a downtown skyline view
-three courtyards complete with a pool, outdoor kitchen and other community spaces
-balcony views from many of the units into the courtyards
-interior common areas such as:
-media room
-central kitchen
-caf?/bar/game room
-yoga room
-fitness studio
-children's play area
-bike storage
Inside the open-concept residences, upscale details include granite countertops, stainless steel appliances, hard surface flooring, 42″ cabinets and designer fixtures.
“As a company, we are focused on impactful projects which will stand the test of time and, create better community places,” added Hughes. “We look forward to delivering LIFT and continuing to make an impact in Oklahoma City through future projects for years to come.”
Construction financing for the project is provided by Regions Bank.
The property will be constructed by Milhaus Construction, LLC and managed by Milhaus Management, LLC.
ABOUT MILHAUS
Milhaus is a team of inspired and industrious individuals, headquartered in Indianapolis, operating throughout the Midwest and Oklahoma. They deliver solutions for neighborhoods that positively impact urban environments by working with cities to provide unparalleled expertise in real estate investments, development, construction and management. Milhaus has built a reputation for implementing complex projects in urban infill and mixed-use environments that are catalyst for neighborhood redevelopment. Ultimately, they deliver products that withstand the passage of time and find ways to leave communities in a better place than where they found them. For more information, visit www.milhaus.com
Source: Milhaus Development