An abandoned apartment complex in northeast Oklahoma City is set to undergo a $15 million renovation that will bring 132 townhome units back to life.
The project, known as the Pearl Housing Project, will transform long-vacant and damaged buildings near Northeast 23rd Street and Interstate 35. The redevelopment will include 92 two-bedroom and 40 three-bedroom townhomes designed for families. Rents are expected to range from $1,000 to $1,300 per month, offering relatively affordable options without formal income restrictions.
The OKC City Council approved up to $2.5 million in tax increment financing to help offset development costs. Construction is expected to begin later this year with completion projected in about 18 months