Tulsa, OK – Mayor Dewey Bartlett, joined by Julius Pegues, chairman of the Tulsa Development Authority, and Dale Lancaster, Founding Principal of developer Quad States Companies/Arrington Developers, participated in a groundbreaking today to announce the start of construction of Riverbend Gardens Townhomes in downtown Tulsa.
Quad States Companies of Madison, Miss., recently purchased the property at 600 West 11th Street from the Tulsa Development Authority, which had owned it since the late 1960s when it was acquired for urban renewal. The former parking lot directly behind the Downtown Doubletree Hotel will become 40 new two-bedroom townhomes available for rent at affordable rates.
This new downtown residential development is made possible through private and public cooperation among Quad States, Tulsa Development Authority and tax credits from the Oklahoma Housing Finance Agency. Construction is scheduled for completion by May or June 2012.