711 N. Hudson

[G.Walker]

[template=]
development
|category1=Housing
|category2=Midtown
|category3=Current
|category4=
|
|project=
|address=711 N. Hudson
|status=existing building under renovation
|owner=Robert Lewis, Marva Ellard
|cost=
|architect=Walter Anton (for the current renovations)
|start=3Q 2011
|finish=
|contractor=
|height=2 stories
|sq. feet=3,000
|acerage=.2410
|other=Historic Allen's Cafe building is being renovated into high-end apartments, 3 additional townhomes will be constructed between this building and NW 6th Street.
|
|image=
|
[/template]
Information & Latest News

http://www.newsok.com/housing-is-com...rticle/3568842
Links

County Assessor Record
Gallery

[metro]

Great news, and it will help my property value go up.

[Kerry]

http://www.newsok.com/housing-is-com...rticle/3568842

This is just crazy:

"Each home is intended to span 1,700 to 2,200 square feet, each with its own two-car garage. Ellard estimates the homes will sell between $400,000 and $450,000".

Anyone who pays almost half a million dollars for a 1,700 sqft house in downtown OKC is stupid, when you can drive 20 mins south, and get a house 3x that size for the same price.

... and drive 20 miles each way to work and cringe everytime you have to put gas in the car. Not to mention drive everytime you want to go the movies or out to dinner. I think the price is about $50,000 to high but the concept is sound. I think this concept moved out a few more blocks will do great.

[G.Walker]

... and drive 20 miles each way to work and cringe everytime you have to put gas in the car. Not to mention drive everytime you want to go the movies or out to dinner. I think the price is about $50,000 to high but the concept is sound. I think this concept move out a few more blocks will do great.

I think the price is too high, and concept is shot for that area. Low-rise lofts or condos ranging from $250 - $300k sounds more feasible...

something like this:

[kevinpate]

I do chuckle somewhat at the notion of buying a very walkable location for a premium price when a not insignificant portion of the home is devoted to a two car garage. Nothing wrong with that, it simply amuses me

[city]

G.Walker;430735]I think the price is too high, and concept is shot for that area. Low-rise lofts or condos ranging from $250 - $300k sounds more feasible...

It is too small a lot for that

[Kerry]

I do chuckle somewhat at the notion of buying a very walkable location for a premium price when a not insignificant portion of the home is devoted to a two car garage. Nothing wrong with that, it simply amuses me

I see it as a transitional step. You still cannot live downtown without a car. Maybe some day a one car garage will suffice.

[city]

I think a development at 11th & Shartel is planned like that at that price point. This property has a very pretty view down into the memorial and tall buildings beyond.

[okcRE]

believe it or not, i have seen modern houses (2000 SF) near the classen curve sold for around $400k.

[Pete]

That's a great location and I hope they can pull it off.

[Urban Pioneer]

Great news, and it will help my property value go up.

Mine too. lol

[Rover]

http://www.newsok.com/housing-is-com...rticle/3568842

This is just crazy:

"Each home is intended to span 1,700 to 2,200 square feet, each with its own two-car garage. Ellard estimates the homes will sell between $400,000 and $450,000".

Anyone who pays almost half a million dollars for a 1,700 sqft house in downtown OKC is stupid, when you can drive 20 mins south, and get a house 3x that size for the same price.

And this is exactly the kind of thinking and attitudes that keeps us from supporting a truly urban downtown. Everyone wants the lifestyle and quality but only on the cheap. And everyone can't understand why developers aren't falling over themselves to do quality development in downtown. Or why the idea of a quality lifestyle center at the old Ford site is probably less feasable than the CC center there.

I hope they are able to find a few buyers. This would be good infill.

[betts]

http://www.newsok.com/housing-is-com...rticle/3568842

This is just crazy:

"Each home is intended to span 1,700 to 2,200 square feet, each with its own two-car garage. Ellard estimates the homes will sell between $400,000 and $450,000".

Anyone who pays almost half a million dollars for a 1,700 sqft house in downtown OKC is stupid, when you can drive 20 mins south, and get a house 3x that size for the same price.

Yeah, I've looked at those houses 20 minutes south. They're built with 2x4s, have crappy insulation, cheap roofs, builders grade everything and in 20 years they'll look like it. I would assume that if you're paying $400,000 for 1700 square feet you're getting top of the line everything. Again, it's all relative. In Nichols Hills, you can't even get a new or updated house for $200 a square foot and people pay more because they want to live there. In other cities you might pay $500 to $1,000 a square foot minimum to live downtown. Eventually, and I hope it's soon, we'll have enough downtown that people will be willing to pay a premium to live there. The reason I hope that's the case is because that means our downtown is exciting and vibrant enough to attract people who want quality housing. That's the way it is in most cities.

[Spartan]

http://www.newsok.com/housing-is-com...rticle/3568842

This is just crazy:

"Each home is intended to span 1,700 to 2,200 square feet, each with its own two-car garage. Ellard estimates the homes will sell between $400,000 and $450,000".

Anyone who pays almost half a million dollars for a 1,700 sqft house in downtown OKC is stupid, when you can drive 20 mins south, and get a house 3x that size for the same price.

What makes you think that downtown development and southside development should be priced equally? That is kind of an ignorant viewpoint.

I like the project. With Marva Ellard you know that no corners will be cut and that the product will be the absolute highest-quality. I am skeptical of for-sale as a unitary market strategy but increasing the real estate options downtown at any rate is always a good thing. This will also add some geographic diversity there as well, and inject some new life in a kind of dead part of downtown. But while dead, it has huge potential, with the new coffee shop and restaurant on Hudson, yoga studio, and so on... the border of Mid-town and downtown is underrated.

By the way, this project is just 6 units. It states that the 3 new construction units will be over $400,000. However, I'm not sure that that is the case with the two loft units above the private residence in the historic building. I imagine that the top floor units will be a lot smaller than 1,700 sf.

[Rover]

I think this is a perfect kind of "for sale" infill project. It is targeted to a very narrow market, but is small and the risk is measured. I think Ellard will do well with this...at least I hope so.

[Spartan]

Oh and I checked, and "if you drive 20 minutes south from downtown" $400,000-$450,000 will get you around 3,500 square feet. So hardly three times the size. Of course, this is relying on REALLY good traffic, because if it's normal traffic then 20 minutes drive will get you about down to 59th Street. As my own parents live around SW 134th and May, I can tell you that it's even less square footage if you have a completely custom-built house with all top-of-the-line features. Look in the Chatenay development at 104th and Penn--those are $400,000 townhomes, with around 2,000 sf or so.

http://www.realtor.com/realestateand...-400000-450000

[metro]

I think a development at 11th & Shartel is planned like that at that price point. This property has a very pretty view down into the memorial and tall buildings beyond.

9th and Shartel.

[Uncle Slayton]

Damn...I thought Allen's might be coming back. I loved that place...within walking distance of work and great food.

[Larry OKC]

I think the question is, are there enough people that can afford that price point (not talking about this specific project but DT pricing in general)? There seems to be a disconnect somewhere and I don't know where it is. On one hand we are considered a poor state, 90% of children in the OKC public schools qualify for the reduced or free lunch program, reportedly, payscales across the board, for the state are near the bottom ranking. Yet on the other hand, we have relatively low unemployment, low cost of living, average income exceeds the national average (or was it disposable income?)

[Spartan]

By the way, can we get the name of this thread changed?

[Kerry]

nm

[Rover]

I think the question is, are there enough people that can afford that price point (not talking about this specific project but DT pricing in general)? There seems to be a disconnect somewhere and I don't know where it is. On one hand we are considered a poor state, 90% of children in the OKC public schools qualify for the reduced or free lunch program, reportedly, payscales across the board, for the state are near the bottom ranking. Yet on the other hand, we have relatively low unemployment, low cost of living, average income exceeds the national average (or was it disposable income?)

Surely you jest. This project is a few residences. If appealing and of values, this development will sell quickly. There are way plenty who can afford this. There are huge neighborhoods all over the city with properties selling at this level and higher. The question is, will they want to live THERE or in THAT.

[BBatesokc]

I say build what they want. But, I certainly would never consider it and we are looking downtown. We've looked at 4 homes in the $300K - $600K in the Heritage Hills area and all offered us far more for the money.

We have friends over in Deep Deuce in a condo and only just recently did they actually get a neighbor. They've been the only resident on the 3rd floor of their building for quite awhile and the units are already becoming rentals. I'm sure there are plenty of people who are willing to pay these prices, but I just don't see the value for the money. But I guess that's just us.

[city]

I say build what they want. But, I certainly would never consider it and we are looking downtown. We've looked at 4 homes in the $300K - $600K in the Heritage Hills area and all offered us far more for the money.

We have friends over in Deep Deuce in a condo and only just recently did they actually get a neighbor. They've been the only resident on the 3rd floor of their building for quite awhile and the units are already becoming rentals. I'm sure there are plenty of people who are willing to pay these prices, but I just don't see the value for the money. But I guess that's just us.

I live in Heritage Hills have...for decades. Great Place to live .. extemely high maintenance costs.
If this project is quality construction, has a lock and leave aspect and a HOA and pool as I have been told; I would trade because I would still be in the area I love and less time taking care of property.

[Pete]

Yes, lots of people have that view, city. I think only after you've owned a historic home for a decade or so can you fully appreciate the time and money required.

Also, there is usually a huge difference in utility costs in old vs. new.