Tsoodle: Innovation District to welcome The Hub at Midtown

Kenton Tsoodle

Creators of a mixed-use development project will break ground in the Innovation District in early 2024.

The Hub at Midtown will include 289 apartment units within four- and five-story buildings, a resort-style swimming pool, fitness center, two courtyards, a dog park and pet spa, picnic areas, a pickleball court, and a parking structure. The apartments will be adjacent to the project’s commercial building, which will house its anchor tenant, Oklahoma-based Core Bank. The bank will encompass the first two floors of a seven-story, 55,246-square-foot building that will feature a rooftop restaurant on the seventh floor.

The development will be at the northwest corner of 13th Street and Broadway and will add to apartment options within the Innovation District, currently home to The Metropolitan, The Guardian, Central Avenue Villas, The Marion, The Mayfair, and Fifth Avenue Lofts. The growing Innovation District encompasses 1.3 square miles just east of downtown Oklahoma City and is home to organizations spanning Oklahoma’s health, energy, aerospace, technology, research and academia sectors. With over 18,000 people working within its parameters, the Innovation District is a vital part of our city’s economy in dire need of more residential options.

The development is a $90 million investment that, upon its completion, will be partially supported by ad valorem revenue generated by the property. The project is one of many examples within our city of how public funding can spur private development.

Project developers associated with the Texas-based investment firm, Newstream Partners, said the Innovation District has promise and potential. The firm has an impressive portfolio that includes housing developments in Flower Mound, Texas; Honolulu; New Orleans; and Louisville, Kentucky, but has had Oklahoma City on its radar for years and for good reason.

According to a study published this year by the Urban Reform Institute and Frontier Centre for Public Policy, Oklahoma City has the third most affordable housing market in the United States. With Oklahoma City’s population size steadily increasing, the supply of housing options in our city’s urban core is met by a strong and growing demand. Our thriving economy and diverse communities are why people from all over the nation are flocking to Oklahoma City and why housing developers are seeing great success.

Kenton Tsoodle is the president of The Alliance for Economic Development of Oklahoma City.

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