TULSA, Okla. — Developers are planning to convert a historic downtown building into apartments at a time when additional apartments have been at the top of the mind for city leaders and everyday Tulsans.
Times were different in 1923 when Tulsa oilman and Philanthropist Waite Phillips built what was soon to be known as the Beacon Building at Forth and Boulder.
At one time, a beacon light tower at the top even served as an aircraft navigational aid. Now, developers plan to fill that historic building with multi-family apartments for Tulsans to enjoy for years.
The Beacon Life Insurance company occupied eight stories and 100,000 square feet and decided to build the lighthouse on top for symbolic purposes. It was later removed after a pigeon infestation and roof leak in the 70's
Real estate developers can still see the light from the building nearly a century later.
Looking intently at the building, Dakota Jackson of Tulsa didn't know it's history but is on board with West Development announcing they recently purchased the building. They plan to renovate it into roughly 85 multi-family apartments, with some commercial or retail space on the first floor and storage units in the basement.
"For people that's downtown all the time, they can stay and live and eat down here," Jackson said. "I think it would be a good idea."
West Development intends to pursue historic tax credits on the project to offset renovation costs and decrease equity requirements.
Longtime Tulsans will also remember the Beacon Building was also home to Fourth National Bank.
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