Historic Building Honored
The historic Mayo Hotel in downtown Tulsa.
The historic Mayo 420 Building in downtown Tulsa, redeveloped with rental apartments on the third through tenth floors, has received a 2012 J. Timothy Anderson Award for Excellence in Historic Rehabilitation from the National Housing & Rehabilitation Association. The Mayo 420 Building won in the category of Best Historic Rehab Utilizing New Markets Tax Credits.
In addition to new markets tax credits and historic tax credits, developer Wiggin Properties, received a $3 million loan from the Vision 2025 sales tax for financing the downtown housing project. Also involved in the award-winning Mayo 420 Building project were architect Kinslow Keith & Todd Inc. and historic consultant Sikes Abernathie Architects PC.
“Preserving the historical integrity of the Mayo 420 building was extremely important to us,” says Chuck Wiggin, president of Wiggin Properties. “The result is a building with special character and apartments which are both modern and unique. New construction could not duplicate what the Mayo Building has to offer its tenants.”
The Mayo 420 Building was constructed in 1909-10 by Cass and John Mayo to house their growing furniture business, with office space available for Tulsa’s booming oil industry. The Mayo Furniture company moved out of the building in 1921, but other retailers soon took its place, and upstairs the Mayo Building remained an office building for many companies in the oil business until it was closed in the early 1990s.
The oldest of Tulsa’s existing oil business buildings, the Mayo 420 Building was added to the National Register of Historic Places in 2008. Construction on the redevelopment project began that same year and was completed in 2010 with apartments ready for lease. Billy’s On the Square restaurant on the ground floor has remained open, and the downtown moved into the lower floors of the building in 2010.
The J. Timothy Anderson Awards for Excellence in Historic Rehabilitation, also known as the “Timmy Awards,” honor outstanding real estate projects that involve rehabilitation of older, historic buildings, primarily using state or federal historic rehabilitation tax credits. Scoring is based on overall design and quality, interpretation and respect of historic elements, impact on the community, and financial and market success.
Updated 12-08-2012
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