Oklahoma City Urban Renewal Authority Moves Forward on Depot

 

In a potentially very complex situation, the Oklahoma City Urban Renewal Authority is now seeking to acquire the old railroad station facility. The railroad station was purchased as a dilapidated depot, and money has been spent to fix the location up. A tenant has moved in and the owners hope for more tenants.

 

The Authority is apparently publicizing its offer and has received a response from the owner. Hopefully, the case will be presented fairly as part of the Court process in the near future if the parties cannot arrive at an agreement. The present public relations posture bodes ill for both.

 

http://newsok.com/urban-renewal-prepares-eminent-domain-action-against-owners-of-santa-fe-train-depot-in-oklahoma-city/article/3761735

 

Brewer said Tuesday he still hopes to provide the city with an appraisal being done on his behalf, and called the $23.5 million a “starting point.”

“I'm still in due diligence,” Brewer said. “My appraiser isn't done with his work yet; it's a difficult property to appraise.”

Brewer could not estimate how much his family invested in the once-dilapidated depot. County records show Brewer's father, the late Jim Brewer, bought the depot in 1998 for about $375,000 and used a $1 million federal grant toward renovations. Jim Brewer reported at the time of the renovation he estimated the entire project cost about $2 million.

The depot is nestled between Bricktown and downtown and is where Amtrak's Heartland Flyer starts its journey to Texas each morning and ends its return to Oklahoma each night.

 

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