Rosenthal said while the proposed PUD and apartment complex were very high quality, she believes the city will regret the loss of potential sales tax through development of that area as a commercial site. Williams agrees.
“I think that corner needed to stay commercial,” Williams said. “The city is growing this direction.”
The proposed apartment complex will house 230 units with 65 percent of those units to be one bedroom, according to Rieger. He said the $24 million project comes in at $103,000 per unit cost and represents a significant investment in Norman.
Rieger said rent will run from $800 to $1,200 per month. Components such as built-in garages and masonry exterior are indicative of high-end apartments.
The housing is expected to appeal to young professionals early in their career development.