Chris Burdan, Vice President, Commercial Loan Officer (left) and Ted Cundiff, President & CEO (right).
Over the last decade, Downtown Broken Arrow has become a premier destination for arts and entertainment. Now known as The Rose District, this once declining-area of town draws hundreds of thousands to the area for retail, nightlife and community events.
The Rose District underwent a major revitalization in 2012 and has since been named one of 50 Charming Main Streets across the country by USA Today.
With the growth and revitalization of the downtown area, AVB Bank recently established the Rose District Lending Program.
“When the Rose District came to life, we were a big part of that development,” said executive vice president and chief lending officer Topper Causby. “We began to look at the area surrounding the actual Main Street and how we could develop a program to help both the residential and business areas. This lending revitalization program is a way to further assist with the downtown and surrounding revitalization.”
The Rose District Lending program covers residential properties from 71st to 81st Streets and Elm to Lynn Lane, as well as commercial properties from 71st to 91st Streets and Elm to Lynn Lane. AVB Bank offers “very competitive rates” through purchase or refinance loans, home improvement loans and small business development loans.
“A lot of the homes within this square mile are older,” Causby said. “Pride of ownership is a big deal, and with the new structures and the improvements that are happening, homeowners are going to see an increase in the value of their homes. The increased equity value may assist the homeowner with future borrowing or produce increased income when sold. There is now an opportunity for people that already live here to make improvements, further enhancing the entire downtown area.”
Since 1905, AVB Bank has been an integral part of the state’s rich history, and the Broken Arrow location has been a part of the downtown area long before it was The Rose District.
“AVB has been located in the heart of The Rose District, on Main Street, since before statehood,” said president and chief executive officer Ted Cundiff. “We have played an instrumental role in helping with the development of our downtown.
“We have a lot of pride in what is happening down here and are excited to continue to play a role in the revitalization of this area where we live, work and play.”
AVB Bank also offers working capital and business loans through the Rose District Lending Program for business owners.
The lead lender for the program is Chris Burdan at the downtown Broken Arrow location; however, inquiries about the Rose District Lending Program can be made at any AVB Bank location.
“With all that the Rose District has to offer, the AVB Mortgage Center has implemented a new loan program solely focused on the Rose District. AVB is offering competitive and aggressive rates and incentives to encourage people to live, work and play in the Rose District,” said Ted Cundiff, President and Chief Executive Officer.
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