Bomsada Eyes Groundbreaking for Stalled $33M M-F Complex

By Gabriel Circiog, Associate Editor  Construction of a $33 million upscale apartment complex stalled by the recession is ready to move forward after years of delay, Tulsa World reports.  In the next 30 to 45 days, Houston-based Bomsada Group is set to break ground on Enclave at Brookside at 1414 E. 39th Street, Bomsada vice [...]

 Construction of a $33 million upscale apartment complex stalled by the recession is ready to move forward after years of delay, Tulsa World reports.

 In the next 30 to 45 days, Houston-based Bomsada Group is set to break ground on Enclave at Brookside at 1414 E. 39th Street, Bomsada vice president John Gilbert Sr. told the Tulsa World.

Soon after the developer laid out plans for the 240-unit complex in 2008, financing evaporated and banks were unwilling to back the project. Before putting the project on ice, Bomsada demolished two apartment complexes on the site and carried out infrastructure work. Bomasada has now secured financing through F&M Bank & Trust Co. in Tulsa and Amegy Bank of Houston.

Although four years have passed, the current plans are nearly identical to the original proposal. Enclave at Brookside will consist of a three-story building, a four-story building and a parking structure. Units will range in size from 724 square feet to 1,500 square feet, with rents ranging from $900 to $2,000 per month. Amenities will include a clubhouse with a fitness center and a resort-style swimming pool.

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