Prado Verde Condos for Classen Curve

[G.Walker]

http://journalrecord.com/2011/09/20/...e-real-estate/

[Pete]

This is just two houses east of the other 4-unit development planned for this street.

I also noticed at least one more speculator has bought property in that neighborhood (Meadowbrook Acres).

[BBatesokc]

Friends of ours bought one of the four units you mentioned Pete (SE unit). They are excited to move in by the end of the year. They tried to get us to buy the one north of theirs, but we want to be downtown. That would be a fun little area to live in though.

[metro]

HOME > ALL-MOBILE-NEWS > DEVELOPER PLANS CONDOS NEAR OKC’S CLASSEN CURVE
Developer plans condos near OKC’s Classen Curve
By Brianna Bailey
Oklahoma City reporter - Contact 405-278-2847
Posted: 05:59 PM Tuesday, September 20, 2011
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OKLAHOMA CITY – A developer has plans to build six high-end condominium units on NW 56th Street near the Classen Curve shopping center.
While small, the development could be a sign of what’s to come for the area.
Plans for the Prado Verde development at 1123 and 1125 NW 56th St. include six Mediterranean-style condominiums featuring design elements that include red Spanish-style tiled roofs and wrought-iron balconies. The condos would range in size from about 1,800 square feet to 2,200 square feet.
Imran Rad, a representative for the Prado Verde development, said there was an issue with a city-owned drainage culvert near the site that had to be worked out before the plans could proceed.
Plans for Prado Verde were slated to come before the Oklahoma City Planning Commission earlier this year
Prado Verde would be near the northwest corner of N. Western Avenue and NW 56th Street in the Meadowbrook Acres neighborhood near Chesapeake Energy’s headquarters and within walking distance of the trendy Classen Curve shopping center.
Designer and developer David Wanzer is also building four three-bedroom, single-family homes just to the west of the proposed Prado Verde site on NW 56th in a development he calls “Four, a Modern Micro Community.”
The four-unit development would feature modern, geometrically inspired architecture with energy-saving features in all of the 2,000 homes.
Wanzer acquired the land for the Four development just before plans for the nearby Classen Curve shopping center were announced.
“It’s a great central location and kind of heart of the city, but tucked away in this quiet neighborhood,” he said.
All four homes in the Wanzer development have pre-sold, and construction on the project is under way.
Wanzer anticipates construction to wrap up by the end of the year.

[betts]

I'm not so sure about "Mediterranean style", but I suppose it beats the French chateau look that seems to have taken over Nichols Hills. It will be interesting to see how that neighborhood changes.

[Rover]

I'm not so sure about "Mediterranean style", but I suppose it beats the French chateau look that seems to have taken over Nichols Hills. It will be interesting to see how that neighborhood changes.

Agreed. Wish someone would do more mild contemporary condos/zero lot homes here.

[Pete]

All four homes in the Wanzer development have pre-sold, and construction on the project is under way.
Wanzer anticipates construction to wrap up by the end of the year.

Wow, that's great news. Looking at the assessor's site, looks like all four units sold for right around $400,000.

Looks like there is strong demand in that area.

[okcRE]

I had a chance to buy .2 acres in Meadow Brooks but didn't have the cash to outbid an out of state investor. He's looking good to triple his money in the next couple of years.

[okcRE]

Wow, that's great news. Looking at the assessor's site, looks like all four units sold for right around $400,000.

Looks like there is strong demand in that area.

Those 4 units were sold before they were built last year.

[betts]

So some of those sold for > $200 per foot. Perhaps what people are willing to pay per square foot for new construction is different in the city than in the suburbs.

[Spartan]

Imran Rad is set to appear before Planning this week to get the land rezoned, meaning that a building permit is not far off for this really cool infill project that he's developing on NW 56th with 6 units.

http://www.okc.gov/AgendaPub/cache/2...2040653126.PDF

[mcca7596]

Nevermind. Found my answer.

[BoulderSooner]

Imran Rad is set to appear before Planning this week to get the land rezoned, meaning that a building permit is not far off for this really cool infill project that he's developing on NW 56th with 6 units.

http://www.okc.gov/AgendaPub/cache/2...2040653126.PDF

now continued until march 26th

[Pete]

Here are the renderings for this development at 1125 NW 56th Street. Six garden/townhomes/condos on the site of two former houses.

Very similar to the four-plex just built to the west of this property. Three of those units have been sold, each around $400K.

[ljbab728]

Very nice. It's reminiscent of many properties I see in SoCal and also reminds of the Paseo area.

[jbrown84]

Very nice. It's reminiscent of many properties I see in SoCal and also reminds of the Paseo area.

Yes! Don't see a lot of construction like this in OKC these days. I like.

[Garin]

Who is the builders?

[Pete]

Here are some photos from 56th Street.

The first is a newer single family home.


These are the four units just west of the Prado Verde development; 3 have been sold, all around $400K




To show you the general state of the neighborhood, this house is sandwiched between the two projects above.



This is the lot for Prado Verde, just east of the three previous properties.

[Bailey80]

Yes! Don't see a lot of construction like this in OKC these days. I like.

I have heard that this project probably isn't going to happen because of some very serious storm water drainage problems on the site. The owner bought two houses on NW 56th at pretty high price, because she thought Chesapeake was going to buy all of the lots in the neighborhood for 10X their market value. That didn't happen, because Chesapeake signed a 15-year agreement with Meadowbrook Acres last year, saying they wouldn't develop any more commercial space past the south side of NW 58th Street. The Prado Verde site is also lower than the neighboring lots and all of the storm water from the neighborhood drains off into there. It would take more than $250,000 to fix the problem, I am told.

[Larry OKC]

That is a shame...that development is the style I like...don't really care for the brick one, but the modern one Pete posted is attractive, but just isn't my style

[BBatesokc]

Some friends of ours live in the modern looking ones Pete posted (front row, right side). VERY cool units with lots of room and techie/green touches.

I'm okay with the outside, but love the inside. However, for us, we need our own yard and definitely a non-shared driveway for that price range.

[windowphobe]

Said modern ones remind me of that house (now The Spy FM HQ) at NE 7th and Oklahoma. On the outside, anyway.

[Spartan]

I have heard that this project probably isn't going to happen because of some very serious storm water drainage problems on the site. The owner bought two houses on NW 56th at pretty high price, because she thought Chesapeake was going to buy all of the lots in the neighborhood for 10X their market value. That didn't happen, because Chesapeake signed a 15-year agreement with Meadowbrook Acres last year, saying they wouldn't develop any more commercial space past the south side of NW 58th Street. The Prado Verde site is also lower than the neighboring lots and all of the storm water from the neighborhood drains off into there. It would take more than $250,000 to fix the problem, I am told.

Wow, well it's an even bigger loss for the developer if she doesn't do anything. She should still be able to downsize and get maybe one unit with the rest of the site being reserved for a bioswale to handle the storm water which could be made scenic, especially if you retain the existing canopy.

Why would CHK enter into an agreement like that with Meadowbrook Acres? They've demolished much nicer structures.