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Thread: Villa Teresa

  1. #226

    Default Re: Villa Teresa

    The Arc was up and running when it was purchased

  2. #227

    Default Re: Villa Teresa

    Is anyone with me that I'd rather see them in a different exterior material? Maybe I'm trying to work them in with the old Villa Teresa design but it seems like red brick or rock would look better than stucco or concrete. Glad to see the investment moving though.

  3. Default Re: Villa Teresa

    Quote Originally Posted by Pete View Post
    The Arc was up and running when it was purchased
    Was it already renovated when they purchased it? It looks like they've put some work into it.

  4. #229

    Default Re: Villa Teresa

    Quote Originally Posted by Pete View Post
    The Arc was up and running when it was purchased
    I am very familiar with these projects, I am not one of the partners but am involved.

    It is evident that comments on this thread are unfamiliar with historic property redevelopments.
    The Arc was a total renovation. It was not usable as were all the buildings. One of of the three houses are occupied, two are sold and the last has inquiries.
    The Sunbeam Manor would be two months into renovations now; if Trump tax plan hadn't attempted to pull the historic tax credits, the demolition has been completed, National Park service paperwork is submitted and accepted.
    Villa will be built with steel structure , slurried brick and many traditional accents will be added that are not visible in a rendering.
    Correct scale, compatible materials,approved compliments to new infill development adjacent to historic properties.
    It is not acceptable to build new fake old buildings on a site with so much historic material.
    The Sieber started redevelopment when Midtown was red lined by all banks in OKC. Marva was the first to use Historic Tax credits, a HUD loan for financing, a Murrah loan, which is being paid off.
    The first paperwork for the Anderson Houses (Hotel project) has been submitted to National Park Service for National Landmark Status now, it will take possibly a year to get thru that process.
    These projects take time and patience.
    Your comments jump to conclusions about the process you know nothing about.

  5. #230

    Default Re: Villa Teresa

    Great insight citi!

  6. #231

    Default Re: Villa Teresa

    ^

    And insulting people is a great way to educate and change perceptions.

  7. #232

    Default Re: Villa Teresa

    Quote Originally Posted by citi View Post
    I am very familiar with these projects, I am not one of the partners but am involved.

    It is evident that comments on this thread are unfamiliar with historic property redevelopments.
    The Arc was a total renovation. It was not usable as were all the buildings. One of of the three houses are occupied, two are sold and the last has inquiries.
    The Sunbeam Manor would be two months into renovations now; if Trump tax plan hadn't attempted to pull the historic tax credits, the demolition has been completed, National Park service paperwork is submitted and accepted.
    Villa will be built with steel structure , slurried brick and many traditional accents will be added that are not visible in a rendering.
    Correct scale, compatible materials,approved compliments to new infill development adjacent to historic properties.
    It is not acceptable to build new fake old buildings on a site with so much historic material.
    The Sieber started redevelopment when Midtown was red lined by all banks in OKC. Marva was the first to use Historic Tax credits, a HUD loan for financing, a Murrah loan, which is being paid off.
    The first paperwork for the Anderson Houses (Hotel project) has been submitted to National Park Service for National Landmark Status now, it will take possibly a year to get thru that process.
    These projects take time and patience.
    Your comments jump to conclusions about the process you know nothing about.
    Ummmm, wasn’t this thing proposed well before Trump became president?

  8. #233

    Default Re: Villa Teresa

    First phase already selling at Villa Teresa

    By: Molly M. Fleming The Journal Record January 25, 2018

    OKLAHOMA CITY – Developer Marva Ellard and her business partner, Billy Woodring, have had a lot of interest in the town homes and condominiums they’re constructing on the former Villa Teresa property. They have down payments on four of the 10 town homes. Next week, Ellard is meeting with three more potential owners.

    The town homes will face Dewey Avenue, running from NW 13th Street nearly to Classen Drive. The homes are turned to downtown, following the same 45-degree angle as the existing buildings.

    Along the same stretch, the existing yellow garage building’s upstairs loft will be renovated and sold as well. The garage was once where Lowery House residents parked. The yellow house’s renovation will be tackled in the second phase.

    At the corner of Classen and Dewey, a three-story, six-unit condominium building is being constructed, which is also part of Phase 1. The total cost is $17 million, including the land.

    That phase is what will be presented to the Downtown Design Review Committee meeting in February. The second and third phases include more historic renovation work, including turning the two brick homes into a 38-room boutique hotel.

    But getting to this point has taken a while. Architect Brian Fitzsimmons started working on a site plan a year before Ellard and Woodring bought the property in September for $5.5 million. The previous owners, Ross Group, asked to see plans from potential buyers.

    Ellard said Fitzsimmons was the right fit for a Midtown project because he lives and works in the area.

    Fitzsimmons said he was pleased to have the opportunity to do the right thing by such an important Midtown property.

    “The Midtown/SOSA area is my backyard,” he said.

    Ellard and Woodring commended Fitzsimmons for his attention to detail, such as what to do with hanging utility lines, or how to relocate buried utilities. Those lines were shown on one of his site plans.

    Missing details in construction plans can mean new costs arise.

    “They are extremely organized and timely,” Ellard said. “They think of all the different aspects of a project.”

    Ellard, who is no stranger to historic renovation projects, compared the work to looking at an iceberg. The top, or outside, is pretty; but no one knows what’s underneath. She said Fitzsimmons and his team really thought through all of those issues.

    “The buildings are in great shape for their age,” he said.

    Woodring brought construction manager Monty Jacobs to the project. He’s as detail-oriented as Fitzsimmons, if not more. He has about 30 spreadsheets where he’s laid out costs.

    “We’re doing our best to identify every piece before we get started,” he said.

    Woodring said he’s watched other historic renovation projects not get finished because the developer ran out of money. But Jacobs isn’t hiding anything, so he said this will help them know all their costs initially so they have enough money during the entire project.

    “If you don’t plan for it, you have problems later on,” Woodring said. “I’ve never seen the amount of details that Monty’s put into this.”

    Another detail that was on Fitzsimmons’ radar was the proximity of the homes to one another. While the homes are close, they’re also a higher-end product. Associated architect Spencer Wilson said buyers don’t want to feel like they had to give up a quiet neighborhood if they’re moving here.

    “We want them to feel like they’re getting more,” Ellard said.

    Wilson said the Fitzsimmons team made sure the homes were built with measures to control the sound leakage, such as dense floors. There are also privacy walls along Dewey, not so tall that they make the homes feel like a fortress, but they do help with the sound.

    Homeowners will have access to a pool that’s being built where a former tricycle track is still standing. The area is in the center of the property, so there’s privacy for the pool.

    Parking is in the inside of the property as well, so the homes can be closer to the street, Wilson said.

    The property’s middle has a garden-like feel, which was important to Ellard. She wanted to have density on the land, but she wanted to make sure the campus and garden-like atmosphere remained.

    Nor is she tearing down any buildings except a couple of sheds that will be removed – but the preservationist joked she’s not even upset about losing them.

  9. #234

    Default Re: Villa Teresa

    Took this recently and added the pop-out effect:


  10. Default Re: Villa Teresa

    That's cool!

  11. #236

    Default Re: Villa Teresa

    Quote Originally Posted by Urbanized View Post
    That's cool!
    Thanks.

    Working on my mad Photoshop skills.

  12. #237

    Default Re: Villa Teresa

    Love this feature, Pete. Really helps you see a particular area. Much like!!!

  13. #238

    Default Re: Villa Teresa

    where's the pool?

  14. #239
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    Default Re: Villa Teresa

    Quote Originally Posted by OKCretro View Post
    where's the pool?
    Just about the middle - between condos and hotel.

  15. #240

    Default Re: Villa Teresa

    Is this moving forward?

  16. #241

    Default Re: Villa Teresa

    Quote Originally Posted by Plutonic Panda View Post
    Is this moving forward?
    Came to ask the same thing. I hope so, but this feels like some of her other projects that haven't advanced.

  17. #242

    Default Re: Villa Teresa

    Quote Originally Posted by Plutonic Panda View Post
    Is this moving forward?
    yes

  18. #243

    Default Re: Villa Teresa

    You guys have got to understand how long it takes Marva Ellard's projects. And I mean that in a good way. It's about historical preservation. It's absolutely not a quick ordeal, but rest assured, when this is done, it will be a gem.

  19. #244

    Default Re: Villa Teresa

    I'm excited for this to happen! Everytime I go to the O Bar, this area is completely dark. The Elliot is gonna help too!

  20. #245

    Default Re: Villa Teresa

    Any updates on the first phase of this project?

  21. #246

    Default Re: Villa Teresa

    Quote Originally Posted by Jheat View Post
    Any updates on the first phase of this project?
    No, they are still in pre-sale mode.

  22. #247

    Default Re: Villa Teresa

    Apparently pricing and initial drafts of contracts are now available for those who put refundable deposits down. Haven't heard firm pricing yet.

    cheers

  23. #248

    Default Re: Villa Teresa

    Quote Originally Posted by whoeveriam View Post
    Apparently pricing and initial drafts of contracts are now available for those who put refundable deposits down. Haven't heard firm pricing yet.

    cheers
    I'll be interested to see the pricing. When I went to look at the plans, I was told they would be around $750k-$800k and would begin construction in October 2018.

  24. #249

    Default Re: Villa Teresa

    Quote Originally Posted by king183 View Post
    I'll be interested to see the pricing. When I went to look at the plans, I was told they would be around $750k-$800k and would begin construction in October 2018.
    When I inquired I was given a vague number of maybe close to 400/sq ft. This is on the high side of what I think is possible in the current market. That would put the larger townhomes in the $1M range, which is a stretch IMHO. In regards to the timing, I was also told they would break ground in mid to late 2018. Apparently the site work for this project has been a bit of challenge. They plan to relocate the power lines down Dewey to be underground and before this can be accomplished the city has to renovate the sewer line. I drove by this AM, and the city has begun that work! Hopefully we will see site work start in the very near future. I hope this project makes it. A lot will depend on the pricing. I know a couple of people with a refundable deposit on a unit, and pricing will be key in whether or not they sign a contract.

    Cheers!

  25. #250

    Default Re: Villa Teresa

    My understanding is they are marketing the condos at $405 per square foot.


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