Oklahoma City developer Gardner Tanenbaum Group is considering repurposing a portion of the long-shuttered Lincoln Plaza Hotel near the state Capitol as housing.
The Oklahoma Planning Commission on Thursday will consider plans to convert the seven-story hotel portion of the Lincoln Plaza complex at 5345 N Lincoln Blvd. into a multifamily housing complex.
Drawings submitted to the Planning Commission show the distinctive crescent-shaped 1960s-era hotel redeveloped into swank housing units with new balconies overlooking a pool.
Reached by phone Tuesday, Gardner Tanenbaum CEO Dick Tanenbaum said the housing plans before the Planning Commission are just one of several options being considered for the remainder of the property.
Gardner Tanenbaum paid $2.6 million for the two former hotel buildings on 18 acres on Lincoln Avenue in August 2011.
About $19 million has been spent renovating a three-story building on the property as the new headquarters of the Oklahoma Health Care Authority. The project was recently completed, and the state agency now inhabits the renovated building.
The remaining seven-story, crescent-shaped Lincoln Plaza building on six acres of land remains empty.
“We bought the whole property, and now we’ve got to figure out what to do with the rest of it,” Tanenbaum said.
Since purchasing Lincoln Plaza, Gardner Tanenbaum has toyed with various ideas of what to do with the property. In 2011, the developer submitted plans to turn it into a student housing complex for the nearby University of Oklahoma Health Sciences Center and the School of Hotel & Restaurant Administration at Oklahoma State University.
Closed for a long time
When Lincoln Plaza was built in 1967, it was a meeting place for lawmakers and business people near the the state Capitol. However, the property has changed hands several times over the past 20 years and has been closed for more than a decade.
Developers Tom Parrish and David Aduddell purchased the property for $2.025 million in 2006, with plans to revive the hotel, but the project stalled.
The developers gave the property back to the bank in June 2010, according to property records.
We bought the whole property, and now we’ve got to figure out what to do with the rest of it.”
Original Article Link: https://newsok.com/article/3946987/plans-unveiled-for-long-vacant-lincoln-plaza-hotel