Originally Posted by
MikeOKC
I know there are other downtown living threads. However, a vibrant city forum should show multiple threads on the topic, as all questions aren't general.
My scenario is this: I live part time in Plano and part time in Oklahoma City. We decided to look at downtown OKC after a trip to Kansas City to look at their downtown/midtown offerings. We are prepared to buy a small, emphasis again, small downtown condo. I have $110,000.00 cash ready to drop. There is Nothing. Zip. Nada in downtown OKC. In downtown Kansas City, near numerous amenities, it's a matter of which do we pick? But we have family and strong ties to OKC and we wanted the urban lifestyle here, even if it's not as developed and vibrant. After two days of looking around and talking, the only thing that comes close is something for $65,000 way over on Classen. It's that Condo that looks completely out of place for the area and looks like a ski lodge in New Mexico, I can't remember the name.
What is going on when you can't find a studio condo or a very small one bedroom for a hundred grand in downtown Oklahoma City? It's not that they're not there, or close to being there, they're available at absurd prices in a downtown area with almost ZERO amenities (beyond the arts, theater, culture, etc.).
Where is a developer who could buy one of the smaller highrise buildings, make them studio - one bedroom sized (like what we saw tons of in KC) sell them for One Hundred Grand and make out like a bandit?
Instead, the real estate agent basically said as much, they are stupidly looking past young people and marketing at people who are 50+ and in his words, "It's hard to build an urban core neighborhood with those demographics." He was fully aware of what's available in other cities with the small "starter condos" that get people moving and living downtown and said "Oklahoma City is missing out by looking past the future and focusing on what's in it as "get rich quick" and that's marketing to people who buy even as "second homes!" Second homes? He said that there were/are a few in one particular place, but they are so small as to be laughable and as a matter of principle he didn't dare show them for other reasons as well. ???
I'm really just kind of blown away at what's in our pockets, ready to buy, and Oklahoma City, which must think it's Madison Avenue West, when in reality, there's less to bring a person downtown than other similar cities, has so little to offer except at very high prices. How can other cities manage these "starter condos" to bring a critical mass downtown manage to do it, and this city cannot? I'm just speechless after a full-day of looking at real estate.
So my question, does anyone know of a developer who is planning anything like I described above? Because, right now, downtown Oklahoma City is locking its future out; and I'm sure there's others, like us, who will move right along. I-35 holds many an attractive city and OKC prices downtown are just absurd.
By the way, when I called a friend in Denver in real estate to bitch and moan, I said, "And you see OKC on all these affordable lists!" He laughed and reminded me we've always been on those lists, even pre-maps, pre-Renaissance, whatever, because well, draw your own conclusion.
Sorry for the negative vibes, I'm just sad and disgruntled.
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