OKC apartment complex on verge of dilapidation to rebuild with solar power

Late last year, things weren't looking good for a north Oklahoma City apartment complex. The OKC city council was ready to put pressure on The Alora , located at 6303 NW 63rd St, but after a delayed vote , owners had a bit more time to catch up on major fixes.

But rather than just restore the damaged apartments to what they were, the complex's owners hoped to improve conditions and lower utilities by shifting to solar power.

Each apartment will have its own solar fuel cell on the roof to power each unit, said Mike Callaghan from Exact Capital, the New York real estate developers who own the complex. Since the complex has a flat roof, it was especially suited and maximizes the efficiency of the solar panels, he said.

"This solar implementation will effectively give each tenant, you know, their own power plant," Callaghan said.

Because The Alora aims to offer affordable housing to people who make below 60% of Oklahoma City's median income, the hope, Callaghan said, is that the shift to solar power would bring down a tenant's utility costs by 70-80% or more.

What happened at Alora Apartments?

After two out-of-state investment companies purchased the Isola Bella apartment complex two years ago, the new ownership renamed it The Alora and promised to invest $30,000 into each of the property's 850 units. But by summer 2023, the complex was in shambles.

Several units were unsecured by broken doors and windows and residents complained that transients would use the empty apartments, leaving behind rotting trash and pests that moved through the buildings' shared ductwork.

After dozens of complaints to the city's hotline for code violations, staff recommended that the Oklahoma City council take legal action to force repairs or tear down two damaged buildings. But because those actions could complicate owners' efforts to secure affordable housing loans, the OKC city council instead voted to grant the owners more time in March.

What renovations have they made so far?

Since March, the real estate developers have been working with the Oklahoma Housing Finance Agency and lenders to agree on construction loans. The company has about 50% of the total renovation funding secured and plans to finalize the other half next month.

The solar panels were also implemented through the Inflation Reduction Act's incentives for solar. The program "provides up to a 10 or 20-percentage point boost to the Investment Tax Credit for qualified solar or wind facilities in low-income communities," according to the U.S. Treasury .

While Oklahoma is the 28th most populous state, it ranks 10th in energy usage per capita, according to an analysis by the U.S. Energy Information Administration , which indicates both a high power usage and a high solar power potential that remains largely untapped.

Callaghan said they would spend about $65,000 putting in the new solar panels and updating the property.

Outside of solar panels, units at The Alora will also receive an interior refresh, including a new kitchen, bathrooms, doors, HVAC system, roofs, and some landscaping.

This article originally appeared on Oklahoman: OKC apartment complex on verge of dilapidation to rebuild with solar power