Central Park Residences

About

Central Park Overview

Located inside the IDL, Central Park’s 20-story twin towers offer spectacular views of Tulsa’s growing skyline and the Arkansas River. With a 75 Walk Score, the community’s location is convenient to all downtown area districts including its own, the Arena District.

Lifestyle living is about more than simply having a token exercise facility. It’s about investing in and sharing in the development of a community’s amenities, facilities, spaces and experiences to enrich the lives of residents.

In 2019, Central Park made great progress in returning its brand to a landmark status. A new symbol was adopted that will more closely represent the community in 2020 and beyond. The symbol reflects the celebration of community living in a thriving urban environment, while the green color mirrors its park-like campus and atmosphere.

With new tower-entries, signage, security enhancements, pool furniture, landscaping improvements and the adoption of a reserve accounting system in 2019, Central Park is well positioned to capitalize on downtown’s growth in the coming years. It is all part of a plan to forge a meaningful connection between the community and its residents, neighbors and fans.

Living Downtown - The City Vibe

Cities are hubs of culture and their downtown areas often exhibit a unique impression that appeals to people who value experiences more than personal space or sometimes even more than privacy. The city of Tulsa has made great strides in creating a more walkable urban core. With convenient access to mass transit, smartphone-hailed ride-sharing services, bike and scooter-friendly streets and the ability to walk to coffee shops, concerts, restaurants and shopping, vehicles for Central Park residents can be an option, not a necessity.

Central Park has attracted a community diverse in age, interest, lifestyles and economic status. From millennials who tend to value opportunities for social engagement to retirees who want to be free of exterior maintenance, Central Park appeals to a wide range of residents seeking a live, work and play lifestyle. With programming from dozens of nearby performance venues there is always something to see or do in downtown Tulsa, and much of it is free.

There are parks, museums, libraries, myriad of restaurants, and growing retail opportunities all within a 10 to 20-minute walk from Central Park. It’s an even a shorter distance to the BOK Center for games or concerts, or across the street to the Cellar Dweller, downtown Tulsa’s iconic neighborhood bar. And it is just a few blocks down Denver Avenue to access Tulsa’s River Parks trail system and bike paths or the Gathering Place.

The Early Years of Central Park – An Historical Overview

Central Park Residences were built as the Center Plaza Apartments and completed in 1970. The project was designed by Murray Jones Murray, a Tulsa architectural firm that flourished in the second half of the 20^th Century; creating a lasting legacy and impact on Tulsa’s built environment.

The firm was involved in the creation of many of Tulsa’s most iconic structures including the Civic Center Masterplan, Assembly Center, 21st & Lewis Doctor’s Building, major Tulsa International Airport design projects including the award-winning terminal, the 41-story First Place Tower, old City Hall, OSU College of Osteopathic Medicine, Texaco Headquarters Building and many others.

MJM was known among peers for their high-quality design and restrained, simple approach to architecture. It was developed in part by one of the firm’s partners, Bob Jones. Jones studied under Mies Van der Rohe the godfather of the The Mies “less is more” look, which plays out in numerous MJM buildings.

The beauty was in the details and the integration of building systems. Young professionals have dubbed this look Mid-Century Modern. Some Architects call it the International Style, and others… Brutalist Architecture. Regardless of its title, this approach to architecture makes a strong design statement and has a loyal following among architectural aficionados.

Transition to Condos

The Center Plaza Apartments enjoyed early success but after twenty-five years of neglect and disinvestment, the project lost its luster and no longer enjoyed a favorable reputation. It was ripe for redevelopment and in 1995 and 1996 a Florida real estate development company purchased the property and converted it to condominiums under the name CRESCENT HEIGHTS OF OKLAHOMA, INC, a real estate company with headquarters in Miami.

The company had a national background in condominium conversions and was at the forefront of the conversion boom in Miami Beach in the 1980s. Believing Tulsa was a “micro-version of Miami” on the verge of a great downtown revival, they invested over $8 million on the remodeling of lobbies for a “more cosmopolitan feel” and other public areas, including new lighted tennis and basketball courts, outdoor swimming pool, jogging path, landscaping and parking.

Initial prices were modest, even by 1998 standards: $19,900 to $32,900 for studios with an average of 500 square feet; $35,900 to $46,200 for a one-bedroom, one-bath with 720 square feet; $51,400 to $71,900 for a two-bedroom, two bath with 1,100 square feet and two-story townhouses that ranged upward of there.

The twin 20-story towers comprised 397 units between them and offered a variety of floor plans and views of the Tulsa skyline. An aggressive marketing program began amongst a great deal of media hype and hoopla. Real estate agents attended numerous “brokers open” showcasing professionally decorated and furnished models and hosting lavish buffets and slick high-gloss marketing materials.

Attendees always seemed impressed at what they saw - the chic urban feel, fantastic views and amenities, but sales were slow, very slow. According to reports, only about 15 percent of the existing rental units converted to condominiums. After about 18 months it became clear that the anticipated demand had been grossly exaggerated and based upon faulty data. There was no real demand for downtown condominiums at that time, as downtown was virtually deserted after dark.

Demand is weak

After several years of tireless efforts, the developers were confronted with market realities that led to an apparent sense of desperation. They began crafting an exit plan that helped minimize their own loss but left the fledgling new homeowners association a problematic governance structure with Articles and Bylaws that made it difficult to effectively manage and care for the property.

The developers tried every trick in the books to attract new owners, from bonus realtor compensation, to price reductions and other incentives. Progress was slow, quite unlike what they had experienced in other cities. Nothing seemed to work, including the signature pink facade that had become a trademark of Crescent Heights developments in other cities, so the towers were re-painted the off-white color you see today.

Downtown Tulsa’s fortunes continued to sag, and the hoped-for demand for high-rise condominiums never materialized. Downtown was literally deserted after hours, and urban minded homebuyers preferred to invest in nearby single-family neighborhoods that were quiet, affordable and proven low-risk investments.

To rev up sales, the developers began discounting prices and packaging units to entice investors to purchase blocks of them, a strategy that undermined the interests of the existing single-unit owner/occupants. It also created the unfavorable ratio between resident and non-resident owners that continues to this day.

Management Missteps

A ½ inch thick Central Park Offering Circular was part of Crescent’s 1996 marketing materials. Near the end of the booklet is found a Residential Property Condition Disclosure Statement Form with three exhibits which includes assessments of the then current condition of the property’s mechanical systems and structural integrity in 1996. It was the proverbial “fine print” many tend to ignore even when making major purchase decisions.

The conclusions of the inspection reports revealed the structures to be sound but found the aging mechanical systems were near the end of life, having experienced few upgrades to the HVAC, elevators, plumbing and electrical systems over the years.

So, while the developers were clearly aware of the impending need for major investments to renovate and rehabilitate those mechanical systems, they elected to “sell the sizzle, not the steak.” In other words, they invested in spit-shinning the common areas, but left the nuts and bolts for the homeowner’s association to deal with after they left town.

In addition, infighting developed between resident owners and absentee multi-unit investors who determined their interests were not aligned, further exacerbating the challenges. And an ill-conceived governance structure that required the election of a new Board every 12 months, impaired the preservation of an institutional memory, threatening plans that couldn’t be implemented during a one-year term.

For the next twenty years, the Central Park Owners Association Board’s struggled but failed to address the massive amount of deferred maintenance, preferring instead to keep monthly dues as low as possible, leaving future boards to deal with the consequences.

Looking back, it was a rather grim prospect facing the naïve group of new condominium owners who appeared unprepared or unwilling to raise the capital needed for renovations. It’s a tale filled with dramatic highs and epic lows that were driven by the lack of a common vision for the future of the community. Thankfully, the story has a happy ending.

Rising in 2020

Central Park’s return to landmark status began in earnest in 2015 as more and more residents became dissatisfied with the decline in the property’s condition and image. More progressively minded board members wrestled control of finances from those less inclined to invest in maintenance and renovations.

Slowly, systems began to be audited and upgraded. Tough issues were resolved and long ignored cosmetic improvements were planned and completed. It all culminated in 2019, a year marked by long-sought changes to Central Park’s governance structure, providing for staggered two-years terms for board members, vastly improving the board’s experience and stability.

Other 2019 accomplishments include a new graphic brand and symbol, new campus entries, new signage and painting, new landscaping and perimeter access control, new pool furniture and funding approval for the addition of Amazon Hub Locker Systems in the basement of each tower. The BAC (branding, activities and communications) Committee also continued establishing community design standards for Central Park’s common elements and areas.

Central Park’s real estate market has been healthy, with nearly 40 MLS arms-length transactions in 2019 alone, the most ever in one year. The increased demand is partly due to investors snatching up distressed and lower price-point properties as soon as they hit the market, and partly due to new buyers seeking an urban lifestyle entering the market for the first time.

With all of that progress, nothing will exceed the long-term positive impact of Central Park’s 2019 adoption of a Reserved Funding Plan that identifies 64 reserve building systems and components, their remaining useful lives, and the future reserve expenditures that will be required for eventual repair and or replacement. It was a milestone moment and perhaps the most important community-wide decision in the history of the Central Park Owners Association.

Prosperity Ahead

Timing is everything in real estate and all signs indicate that the decades long pursuit of increased demand for downtown condos has finally found fertile ground. Over a $Billion in public and private investments have resulted in an urban revival on a grand scale, growing richer daily in amenities and quality of life.

Long attractive to young professionals and creative types, downtowns nationwide are now attracting seniors and empty nesters. There are various reasons for it, including job growth and overall affordability, but basically, it’s a lifestyle choice. The lock-and-leave convenience of an attached dwelling combined with urban energy and walkability is an attractive option for anyone, from just-out-of-college Millennials to empty-nester Boomers.

The increased demand for downtown housing is partially attributable to a parallel inflow of high-tech companies and start-ups that are choosing downtowns for the street life, urban amenities and the architectural diversity that supports a sophisticated entrepreneurial environment. It is part of a shifting focus from downtowns being primarily centers of commerce to being multi-dimensional cultural hubs, with things to enjoy, people to watch, and a sense of place that attracts people in numbers.

Further illustrating the basis for this revived demand was the recent announcement of a new $173 million VA Hospital to be built a few blocks west of Central Park’s campus. Officials said they hope moving comprehensive medical care to Tulsa and associating with a medical school will help solve a long-standing problem at the Muskogee VA — an inability to recruit and retain specialty physicians. Some reports speculate that the hospital which will be associated with Oklahoma State University Medical Center, will be staffed by as many as 1,000 new doctors and other skilled health care workers who will be searching for housing.

It is hard to imagine how the momentum of downtown’s growth will not only continue but expand. As new businesses and rooftops are created, once empty or underperforming properties are once again in demand, the proverbial rising tide that lifts all boats. This is the perfect time to own real estate at Central Park.

Branding and Communications

Can a condominium community be branded, you ask? Absolutely. In fact, all condominiums are branded in one way or another. Unfortunately, until recently, Central Park’s branding had been done unconsciously, or controlled by those not residing in or committed to the community.

Things have changed and Central Park now appears to be on a mission to increase its brand awareness in both style and substance. It began with a name change in 2019 from Central Park Condominiums to Central Park Residences, to more closely represent the shared interests of both resident-owners and non-resident investors in the rental business.

It was all part of a lengthy visioning process and deliberations by the Branding, Activities and Communications (BAC) Committee, led by the late Kerry Walsh, a Central Park resident until his untimely death in 2019. Walsh, a legendary graphic designer and branding expert was a leading source for logos and brands for many of Tulsa’s most high-profile businesses and cultural institutions.

Along with the new name, Central Park adapted a new brand symbol to reflect the celebration of life and community living in its park-like setting. The logo reflects the brand’s value of gathering moments and human relationships in the midst of a thriving urban environment. It values quality experiences as much if not more than its location, features, facilities, and services.

The guiding principles of the new vision lay the groundwork for the unified effort of the board of directors, unit owners and residents, to conduct and manage the affairs of the corporation in a manner that is consistent with that vision. That will help ensure that Central Park attracts and retains owners and residents who will contribute positively to its health and enjoyment.

Enhanced day-to-day communications from Central Park Residences BOD and Management to its residents is managed through the Regroup Mass Notification System that helps keep the community safe and informed. The system allows staff to rapidly create and send voice, text and email messages and alerts with a few simple clicks. Push notifications use satellite-based technology to communicate to mobile devices, so alerts are delivered even in severe weather and when ground-based technology fails.

Community & Neighborhood

Central Park is a diverse community of nearly 400 residential units, representing people from a broad range of ethnic and sociological backgrounds living in close proximity to each other. While that diversity sometimes presents challenges, it can also provide an enriching experience and profound rewards for everyone involved.

Diversity at Central Park is not limited to age, race, religion, ethnicity or socioeconomic factors. Any difference, no matter how visible or seemingly inconsequential, contributes to the diversity of Central Park. There can be competing interests between owners and renters, between pet owners and non-pet-owners, between a 23-year old hedge fund manager who wants more amenities and retirees on fixed incomes who favor low dues.

It is those differences that require residents to find common ground in order to keep the peace and deliver a quality experience for every resident. The motive for cooperation is inherent, because everyone living at Central Park has a vested interest in building a fair and equitable community, the root of a successful condominium experience.

In recent years, the Central Park board members and management staff have done an excellent job of listening to the voices of various groups in order to understand their needs and respond to them. That in turn has led to a decline in the small numbers of malcontents who typically complain about everything, and an increase in satisfaction from a majority of owners.

Central Park Residences is a welcoming community, growing quietly in status and stature as downtown Tulsa’s amazing resurgence has opened the way for continued growth and sustainability.

Central Park is located on 7^th Street just west of Denver Avenue in the emerging Arena District; anchored by the spectacular BOK Center and the newly renovated Tulsa Convention Center. The award-winning sports and entertainment arena hosts major concerts, family shows and other world-class entertainment, all within a five-minute walk from Central Park, including Tulsa’s Annual Winterfest Celebration, a holiday tradition.

As districts go, the Arena District and the nearby Cathedral Square District lack the kind of village atmosphere that you find in the Blue Dome and Arts Districts. That will change dramatically in the coming years as the area matures. Promising new developments are likely to come along as a result of the 2019 approval of an exciting new Arena District Master Plan. Click here for the Media Library

The vision contained in the Master Plan proposes a series of strategic public investments in downtown streets, transforming existing spaces into a series of signature parks and plazas, and repurposing the outmoded civic center through a series of catalytic public-private development opportunities. It is expected that when funded the plan will create a world-class neighborhood and usher in a new era of downtown investment and growth.

For coffee connoisseurs, a Starbucks is just a short walk over to the Central library. And for adult beverages, simply walk across the street to Tulsa’s iconic Cellar Dweller Bar. Healthy individuals with an appetite for exercise can literally walk to dozens of restaurants and bars from Central Park. For the more adventurous, Lyme and Bird usually have scooters available nearby, and most Uber trips to downtown destinations are only around $5 bucks.

Financial reporting

The Central Park Owners Association Board causes an annual external audited financial statement (including a balance sheet and income and expense statement) to be prepared by an independent, certified public accountant. It reflects the financial condition of the association at the end of the accounting period and summarizes the financial transactions in which the association was involved. When completed, it is made available to owners.

Working in collaboration with the exclusive managing agent of the Central Park Owners Association, the Board also causes the preparation of an annual pro-forma operating statement (budget) for the following fiscal year. A copy is distributed to owners not less than 30 days prior to the beginning of the new fiscal year.

Recent Central Park boards have gone far beyond the financial reporting required by law or the association’s declaration of ownership estates. They have routinely provided financial updates in professionally prepared power-point presentations at open owner’s meetings, typically held every other month. The updates are detailed and reflect how revenue and expenses have varied up or down from the pro forma budget. Many of the owner’s open meetings are available for live streaming to their own personal devices wherever they may be.

Monthly financial summaries are also archived and available on the association’s website and private- members only Facebook Page. Additional financial information is accessible by submitting a Request for Inspection of Corporate Records and Documents. The form is available in the Document Section of the Central Park Portal.

Every prospective new owner in encouraged to do their own due diligence in verifying that Central Park’s financial reporting methods are adequate to meet their personal needs.

Floor Plans & Concepts

The “Typical” Floor Plans offered here are re-draws of plans included in the Central Park Offering Circular, dated July 11, 1996. The marketing piece was provided by Crescent Heights of Oklahoma, the developers who converted the property from apartments to condominiums. The “Conceptual” Floor Plans are just that, conceptional. They provide ideas on how individual and combined units can be configured for furniture, appliances, and non-structural interior walls.

Disclaimer: The measurements and square footages in the images were obtained from reliable 3rd party sources (courthouse records, appraisers, etc) and are deemed to be reasonably correct but are not warranted. The plans, including room sizes, and furniture and fixture measurements and dimensions are approximated for illustrative purposes only and they may not be accurate or to scale. Buyers/Investors are urged to confirm square footages and measurements before entering into purchase agreements or remodeling projects.

Governance

• CPOA – The operation and management of Central Park is administered by the Central Park Owners Association, Inc, an Oklahoma non-profit corporation. All affairs, policies, regulations and property of the Association are controlled and governed by the 7-member Board of Directors of the Association, elected annually to staggered two-year terms. The Board meets twice monthly and approves an annual budget each fiscal year.
• Committee Support – The CPOA Board of Directors is assisted by three standing committees that operate under committee charters which outline their roles and responsibilities. Each committee is chaired by a member of the CPOA Board and comprised of community volunteers.
  • FAM Committee – The Finance and Maintenance Committee aids the board with financial research, analysis and reporting for cost efficiencies, audit, mortgage, reserves calculations and dues increases. They also aid the board with long range maintenance research/planning and organizing projects for specific asset maintenance alternatives. o
  • BRP Committee - The Bylaws/Rules/Procedures Committee - Aids the board and other committees with research, proposals and development of declarations, bylaws and rules updates. o
  • BAC Committee – The Branding, Activities and Communications Committee aids the Board in establishing community standards within the association’s architectural scheme and to preserve the aesthetic and environmental quality of living in the community. The committee also helps with planning community activities on behalf of the association. And, they provide further assistance to the Board in defining the standards and controls for distributing internal information to residents as well as information to the public.
  • Policies and Procedures - In accordance with its Bylaws, the Central Park Owners Association Board enacts rules to enhance property values and promote a high quality of life in the community. They do that through an orderly process of developing, issuing and maintaining all Central Park Owners Association (CPOA) policies and procedures in a standard format to ensure clarity and consistency. The following policies are included:
    • Operational Policies
    • Governance Policies
    • Ethics, Integrity and Legal Compliance Policies
    • Workplace Policies
    • Information Technology Policies
    • Financial Policies
    • Facilities, Equipment and Property Policies
    • Public Safety and Environmental Health and Safety Policies

    A policy is a statement of operational direction, established to provide guidance and assistance to the Central Park board of directors, management staff and community in the conduct of association affairs. A procedure is a guideline or series of interrelated steps taken to help implement those policies.

    Central Park’s Owners Portal constitutes the official electronic repository for all of it policies and procedures. Management staff ensures ready access and updates the portal with the most current approved version of all policies/procedures.

    Central Park Residences’ Board of Directors are assisted in the creation, monitoring, and enforcement of policies and procedures by the Bylaws, Rules and Procedures (BRP) Committee, who review proposals and make recommendations to the board to ensure they remain consistent with the community’s long-term goals and vision. Any member of the Central Park community (board, committees, staff, security and individual owners may create and submit a policy or procedure to the BRP Committee for consideration.

    When you purchase a condominium at Central Park Residences you acknowledge and agree to be bound by its governing policies, procedures and rules. It is therefore important that you become familiar those policies, procedures and rules beforehand. Carefully read everything and don’t make assumptions’ otherwise you might be disappointed to learn that open flames are prohibited on balconies. So, electric grills only, no charcoal, gas grills or chimineas.

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Insurance

The Central Park Owners Association carries a master insurance policy that includes liability insurance to cover injuries or property damage in the common areas only. The CPOA requires all owners to carry liability insurance to cover injury or property damage within their own unit, and damages to other owner units and common areas resulting from incidents (i.e. water leaks, fire, etc) occurring within their own unit.

To be clear, the CPOA insures the structures external to each unit but does not cover anything inside the walls of the individual units. Unit owners are responsible for insuring the part of the structural interior not covered by the master policy, as spelled out in the CPOA governing documents. Unit owners are responsible for everything inside the bare walls and floors, including carpet, wood, and tile, wall coverings, lighting fixtures, plumbing fixtures, appliances, cabinets and all other improvements including furniture and personal items.

Each unit owner is required to provide proof of liability insurance, naming the Central Park Owners Association as an additionally insured, in an amount no less than $300,000 upon purchase and annually upon renewal due date thereafter or to provide evidence of such owners’ free and clear title to assets in an amount no less than $300,000 for self-insurance purposes.

Owners may also want to consider adding Loss Assessment Coverage. It provides coverage for certain kinds of losses, like from a catastrophic event, where the condo or homeowners association (HOA) would ask an owner to pay for their share of damages that are either not covered under the building master policy or exceeds the existing coverage on the building or HOA insurance policy. The rates are very reasonable.

Mail & Packages

Residents of Central Park’s Towers retrieve and send their mail from a bank of secure ground-level mailboxes conveniently located near the building’s side entries, typically used when going to and from the parking lots and garages. The boxes are small, and mail from them should be retrieved daily.

For packages and other items too large for the mailboxes, there are Amazon Hub Lockers located in the basement of both towers. The lockers are located in a secure, self-service kiosk that allow you to pick up your package at a place and time that’s convenient for you — even evenings and weekends. No more worrying about packages left at your door while you’re out, the Hub is accessible 24/7.

The lockers accommodate not only your Amazon packages, but others shipped through most well-known carriers like UPS, FedEx and others. Once your package is delivered to the locker location, you’ll receive an e-mail notification with a unique 6-digit pickup code that includes the address and opening times for your selected locker location.

When you arrive to collect your package, enter your pickup code or scan the barcode using the barcode scanner and follow the instructions on the screen. The locker door containing your package will open automatically so that you can retrieve your package.

Packages that are too large for the Amazon Hub Lockers are stored in the 1st Floor package room located in the 410 Building. You will still receive a notification announcing the arrival of your package, but you will need to contact security to arrange for pick-up, as the room is not staffed 24/7.

Special arrangements must be made to receive mattresses, furniture, appliances and other large items, which must be delivered via the loading docks. When you receive notice that your delivery has been scheduled, you will make arrangement with Security to reserve the loading dock and service elevator. Residents are required to be present for those deliveries, and to meet delivery personnel in the basement staging area and accompany them as the items are delivered to their units.

Loading & Delivery

Both towers offer delivery driveways leading to loading docks that are accessed from the basements of the high-rises. The 450 Building delivery drive is accessed from 7th St on the west edge of CP’s property. The 410 Building delivery drive is accessed from 11th St on the east edge of the property. The Townhomes are accessed either from the delivery drives or from the parking lots serving them.

All move-ins and move-outs, as well as the delivery of furniture, appliances, and bulky personal belongings are loaded and unloaded via the loading docks and delivery drives. Reservations for use of the loading docks and service elevators are made in advance through the security office, preferably at least 24-hours in advance. More advance notice is recommended, especially for busy weekends. Reservations are first come, first served. Furniture and large items are to be loaded in the service elevators, not the passenger-cabs.

The association also provides residents with access to grocery-style shopping carts for use in unloading groceries and other small items. Items that fit within the shopping carts are eligible to use any of the elevators and may enter or exit through the lobby by way of the handicap ramps (no stairs). Parking spaces in 30-minute loading zones are conveniently located for each tower.

All construction and remodel contractors are required to use the delivery drives and loading docks for the loading and unloading of tools, equipment and construction materials, using only the service elevators. They are also required to clean the service elevator cabs after use.

Residents are no allowed to leave any items in the hallways, staging areas or basement move-in / move-out areas.

Management

Since 2012, Collins and Associates, Inc., an Oklahoma Corporation, with its principal office at 5630 S Memorial Drive, Tulsa, OK 74145, has been the exclusive Managing Agent of the Central Park Owners Association. For well-considered reasons, the Central Park Owners Association has no employees. The managing agent provides fiscal and accounting services plus full-time management staff for Central Park, a Property Manager and Assistant Property Manager who are typically on-site during normal business hours and available after hours when a response is needed.

The staff handles all on-site administrative duties of the Association including contract administration, maintenance of records, supervision of security and maintenance staff personnel, complaint resolution, enforcement of rules and regulations, vehicle and pet registration, as well as correspondence and communications with residents.

The Administrative Office is located on the 1st floor of the 410 Building (410 W. 7th St). Staff is available by phone and email, and personal visits by appointment only between 9am and 4pm

Maintenance

Collins and Associates also staffs Central Park’s on-site maintenance crew. Two full-time maintenance workers provide routine preventative maintenance for the community’s common areas seven days a week. They also respond to maintenance requests issued by residents on Central Park’s Portal, a web-based platform that provides accounting and maintenance management as well as a document bank of the organization’s most often used forms.

To ensure professional results, most major repairs are contracted out to a “preferred list” of specialty vendors familiar with the property. Larger projects are typically overseen by the on-site management staff with guidance from the FAM Committee on behalf of the CPOA Board.

Mechanical Systems – eyes-wide-open

It’s 50 years and counting since Central Park Residences were completed. As noted, previous CPOA boards failed to adequately set aside reserves for the replacement of those aging systems, some of which are now inefficient and worn out. The good news is that in 2019 Central Park adopted a Reserved Funding Plan that identifies 64 reserve building systems and components, their remaining useful lives, and the future reserve expenditures that will be required for eventual repair and or replacement.

The even better news is that Central Park’s Bylaws were amended in 2019 to require the association (CPOA) to fund and maintain a separate reserves account that can only be used to replace or renovate large capital assets at end-of-life. The account is required to be reviewed and updated by a certified reserves specialist every 5 years to confirm that the reserves account is being funded adequately.

The change ensures that the property will be properly maintained on a published schedule and that the funds will be available when needed without the need for special assessments. Simply said, it protects the investments of owners for the future. In the meantime, there is catching up to do.

In 2013/14 the CPOA board retained MPW Mechanical Systems to conduct an audit of Central Park’s mechanical systems. It included HVAC, central plant, basement mechanical rooms, entry lobbies and common areas, individual fan coil units, central building exhaust system, outside air-handling units and associated controls. The domestic water systems, sewer systems, condensate collection system and the domestic water heating systems were also included.

The report identified a full list of mechanical, electrical and plumbing deficiencies resulting from the age of the equipment. It included equipment evaluation tables and a Master Plan Priority List of Potential Improvements Over Time, including the eventual replacement of the HVAC System. Since no cost estimates for the HVAC System replacement were available at the time, it was not included in the reserves program. Research and investigations continue in determining the path forward on the HVAC System, what equipment will be the best fit, and how it will be funded.

Central Park Residences’ HVAC system is original, with some minor improvements. It is a four-pipe distribution system that relies upon chilled water for cooling and steam for heating, both provided by the city’s Veolia Energy System. Units in the towers are heated and cooled by vertical mounted, in-the-wall fan/coil units separated by a control damper. Be advised that a number of south-facing units have had difficulties cooling their space during the peak of the season.

The costs to replace the HVAC System will be substantial; but it’s expected that home value increases will more than offset the costs over the long term.

Parking

Parking is limited and tightly controlled at Central Park. Every unit is required to own at least one deeded parking space, but they are free to trade or rent them. Renters should confirm parking arrangements with their landlord before making commitments.

Covered parking is available to some owners, by deed, in one of two parking garages. The north garage contains 94 spaces on two levels and is covered by regulation sized tennis and basketball courts. The south parking garage contains 196 spaces on two levels and is covered by a walking track. Each townhome has its own attached two-car garage or carport.

In addition, there are approximately 168 surface parking spaces scattered around the campus. Owners account for 98 of those and the balance are unassigned, and controlled by the association for use by visitors, vendors and those with handicap permits.

Visitors are required to enter through the main gate on 7^th Street and check-in with security. Special access can be arranged for family members and frequent guests. Convenient 4-hour guest parking is available to serve both towers. Owners can arrange with security in advance for 48-hour guest parking for over-night stays.

For the benefit of all residents, Central Park’s Parking Policies are strictly enforced. All interested parties are advised to request the most recent parking policies in writing before making purchase or rental decisions.

Pets

Central Park Residences is a pet friendly condominium community and pet ownership is encouraged subject to registration requirements, restrictions, and pet owner rules and regulations. Living at Central Park requires a peaceful coexistence between pet owners and non-pet owners’ neighbors. The pet policy has been developed to inform and delineate the rights and responsibilities of pet owners in keeping the CPOA Articles of Incorporation and Bylaws. Whether or not they currently own pets, prospective condominium purchasers are encouraged request and review the pet policy before making final investment decisions at Central Park.

Pest Control and Exterminating Services

Central Park provides residents with quarterly pest control services under contract with a pest control company. Residents receive notifications of such services in advance. Owners should be aware that there are limits to the coverage and that not all pest infestations are included under the agreement.

Further, if the owner is determined to be the cause of the infestation that arose in his or her unit, the unit owner bears responsibility for the cost of the extermination service in his or her own unit and any neighboring units adversely affected by such infestation. Fines may also be assessed for failure to control such infestations.

Sales Statistics – Historical Sales Data

The sales statistics cited below are based upon an analysis of 411 closed MLS transactions at Central Park between March 27, 1998 and December 23, 2019. Closed transactions involving REALTORS are typically considered “arms-length transactions.” As such they arguably reflect true market values more so than deed transfers between a husband and wife and their family trust or from one family member to another. If all Central Park transactions were figured in, the numbers would likely look a bit different.

Visitors can view the individual transactions by toggling between the Dashboard and Central Park Tabs at the bottom of the graphs, on the left side.

Security

Central Park is a controlled access community. All vehicular and pedestrian accesses and egresses are electronically controlled and logged by key fobs, cards or remotes. It’s a late-model system installed in 2018/19. The campus is also well covered with surveillance cameras, monitored regularly by security personnel who also have access to prerecorded video footage that is archived for each camera. There are two fully gated and well-lit parking structures that are regularly patrolled and equipped with video surveillance as well.

On-site Security at Central Park is provided by Infinity Investigations & Protective Services. They are supervised by Collins and Associates on-site management team. There are always at least two security officers on-duty at Central Park, 24 hours a day, seven days a week, 365 days a year. A roaming officer is typically patrolling the property, enforcing the parking rules and answering routine calls from residents.

Most newcomers and visitors enter Central Park through the main vehicular gate on 7^th Street. They are greeted by a gatehouse security guard who screens visitors and admits access for those approved after verifying their identity and tag numbers. They also provide parking instructions and assist in answering any questions.

Storage

Storage units located in the basement of both towers are available to owners on a first come first serve basis. The units are chain-link construction within secure rooms under lock and key. Each unit has its own gate. Owners supply their own locks. Storage units are available 24/7, seven days a week. The rental cost of the units $.05 per cubic foot per month and for accounting purposes is collected annually in advance. They vary in height from about 7’ to 8’. And they vary in size from 3X3 for under $50 annually to about 5X10 for about $240 annually. New units have been recently added but demand is high, so potential storage space renters may experience some time on a waiting list.

Trash & Recycling

Trash Chutes are located on each floor of the towers, with access doors adjacent to the elevators. Everything must be bagged. Some sound is noticeable as trash moves through the chutes, and residents are advised to only use the chutes from 8am to 10pm.

Dumpsters for both trash and recycling are conveniently located, and easily accessible from the basements of the towers, for disposal of items that cannot be placed in bags. Furniture, building materials and other large items are not to be placed in the dumpsters without permission from management, which must be arranged beforehand, and may require a fee.

Central Park is committed to making a difference in the environment and encourages all residents to recycle and take advantage of the Mr. Murph Containers provided by American Waste Control. Each tower has a drop off container located in the tower’s loading dock area, accessed from the basement.

A key part of what makes Mr. Murph so special is his automation. The recovery process starts when mixed recyclables are dumped onto his conveyor belts and then taken through a series of manual and mechanical stages that separate valuable recyclables from residual material.

Products, such as metal, plastic, paper and cardboard, are then bailed and transferred to be recycled and reused to make products and energy. The rest is taken to the landfill for disposal. But the story doesn’t end there… Once the residual waste is placed into the landfill it begins decomposing which creates methane gas. The gas is collected and used to create electricity.

Items accepted include paper, cardboard, kitchen, bath and laundry bottles and caps, aluminum and steel cans and food and beverage cartons. For a complete list of recyclable items, please visit Mr. Murph here.

Transportation

Central Park is located just inside Tulsa’s Inner Dispersal Loop (IDL) around downtown, so when leaving Central Park by auto you are never more than a couple minutes away from limited access Interstate Highways leading to the burbs or beyond, in all directions. So, if you own a car, you’ve got that going for you.

If, however, you are urban-minded and clever, you have a number of other options when traveling around downtown Tulsa. Walking is always good and the city’s investments in improving downtown walkability are beginning to pay off. New and improved pedestrian striping at all intersections and converting one-way streets back to two-lane traffic have helped. Dedicated bike lanes, some of them protected, are being added throughout downtown.

Both Lime and Bird have placed scooters conveniently throughout downtown, including just outside the Central Park campus. With get on – get off capabilities they can be a great option when there is no time to walk, or the trip is a little too far.

Uber and Lyft are well represented downtown. Calling for a ride at Central Park rarely takes more than 3 to 5 minutes for service. Standard fare rides downtown are seldom more than $6 bucks, even to the Arts District. Airport runs are typically under $15 dollars.

The Denver Avenue Station, about four blocks from Central Park, is a hub of Tulsa Transit and connects to all routes throughout the city, including the new Bus Rapid Transit corridor. The BRT is a high performance and rapid transit mode for buses combining physical and operating improvements into a permanently integrated transit system. BRT is cost-effective, efficient and has improved service frequencies, travel time and reliability. For regional travel, there is also a Greyhound Bus Station at 317 S. Detroit, about 10 blocks from Central Park.

Volunteer Opportunities

Large condominium communities thrive when their residents work together in a spirit of cooperation and volunteerism. In recent years, Central Park volunteers have helped cultivate unity within the association, making life easier for the board and management staff. They play an active role in preserving property values and in helping make the community a better place to live.

Thanks to recent board support, there are a number of opportunities to become involved in maintaining and improving the quality of life at Central Park. Volunteerism is not only personally rewarding; it can also help the association run more smoothly and keep the dues and assessments down.

Because each hour of work done by a Central Park volunteer is an hour of work that the association doesn’t have to pay for a service provider. Committee members often meet with vendors, collect data and make valuable recommendations to the board for action. When consensus is achieved, it creates a stronger, happier community at Central Park—something that benefits every resident.

Volunteers are needed to staff three standing committees, described under the Governance section of this page, to assist the association’s board with research and development of the association’s assets. They are the Branding, Activities and Communications (BAC) Committee, the Facilities and Maintenance (FAM) Committee, and Bylaws, Rules and Procedures (BRP) Committee. There are also occasional ad hoc committees formed to deal with specific issues or problems.

Committees can serve as great farm systems for grooming future Central Park board members. They are a place where newcomers can listen and respect each other’s views while learning the nuances of running and participating in official meetings. That helps inspire a healthy sense of pride in ownership that reverberates throughout the community. If you invest at Central Park, consider volunteering.

Disclaimer

Hi there. I’m Bill Leighty, Broker Associate with McGraw Realtors and I’m the author of this page and the creator and webmaster of this real estate and community centered website. I’m also an owner, volunteer and 8+ year resident of Central Park Residences. As such, I have a vested financial interest in the future of Central Park.

The statements and views expressed here are not official or being represented as such. They do not necessarily reflect the statements or views of the Central Park Owners Association, its board, management staff or residents. They are based upon my own personal observations and experiences and my love for Central Park.

I’ve done my best to answer the most frequent questions I hear from both residents and prospective buyers. The material published on this site, both original content and imported via internet links has undergone a review to ensure that it is accurate, relevant, fair, balanced, and objective.

In view of the possibility of human error, however, I’m unable to warrant that the information contained herein is in every respect accurate or complete, and therefore I accept no responsibility for any errors or omissions or for the results obtained from the use of such. Readers and prospective purchasers are strongly encouraged to confirm the information offered here, with other sources.