Two downtown Edmond development agreements cleared the city council this month, unlocking public assistance for a new townhouse project near North Santa Fe Drive and West Hurd Street and a renovation of a building at the southwest corner of Broadway and Hurd. The Hurd Courts project carries an estimated completed value of $11 million, while the Broadway rehab is expected to bring Class A office space, a restaurant and a basement food-and-beverage venue to the block.
The council approved development agreements for both projects Monday, Sept. 14, according to the Journal Record, which published its account Sept. 15. Hurd Courts is planned for a site currently occupied by three houses near downtown, according to a CNU Public Square report describing the project as an example of inner-block urbanism taking shape across the city. That report also notes the council voted 5-0 on Sept. 14 to approve $1 million in public financing for the project's public improvements.
Per the CNU report, the Hurd Courts proposal calls for 28 townhouses and garage apartments along with six live-work townhouses featuring ground-floor storefronts. The Journal Record's account describes the project more broadly as including townhomes and retail space, with development assistance capped at $1 million — up to $400,000 in development financing and $600,000 earmarked for public improvements such as stormwater and sewer infrastructure, utilities and paving, according to CNU. The Journal Record reports the project is expected to be completed within 24 months of commencement.
What's Planned for the Broadway Building
Separately, the council approved an agreement with 19 Broadway Building LLC for renovations at the southwest corner of Broadway and Hurd, the Journal Record reports. The project will include Class A retail and office space on the second and third floors, a restaurant on the first floor and a food and beverage space in the basement, according to the same account. Development assistance for that project is capped at $450,000, with completion required by Dec. 31, 2028.
Both projects rely on tax increment financing, a public financing tool that can divert newly generated tax revenue to support development or redevelopment. More broadly, TIF captures the increase in property taxes — and sometimes other taxes — resulting from new development and diverts that revenue back to subsidize the project, according to Good Jobs First, which also notes that TIFs are legal in every U.S. state except Arizona.
City Notice Confirms Council Vote
An Edmond city notice states that the council voted 5-0 to approve a development agreement with Hurd Courts LLC at North Santa Fe Drive and West Hurd Street, per the city's civic alert.
Whether the three existing houses on the Hurd Courts site will ultimately be removed to make way for the new townhouses has not been established beyond the fact that the land is currently occupied by them, per the CNU account. Details such as the exact commencement date for construction and the full boundaries of the TIF district involved have not been made public.
