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Thread: Villa Teresa

  1. #251

    Default Re: Villa Teresa

    One thing Ellard is going to have to do to make that property attractive is to get the dog owners at The Edge to start cleaning up after their animals. I have to walk that sidewalk pretty regularly and it's disgusting.

  2. #252

    Default Re: Villa Teresa

    Quote Originally Posted by Pete View Post
    My understanding is they are marketing the condos at $405 per square foot.
    Thanks for the informative chart. I think the $405 will be pushing the limits of what the market will support. Home sales in the the $1M+ range have been very sluggish over the past year, and most people who will be interested in these types of projects will have homes to sell! I hope she can get enough firm commitments to move forward, but I haven't seen any activity on that property in months.

    cheers!

  3. #253

    Default Re: Villa Teresa

    ^

    I believe they are busy trying to raise more funds through investors and also trying to get firm commitments from buyers, and can't get construction loans until that happens.

  4. #254

    Default Re: Villa Teresa

    Quote Originally Posted by Pete View Post
    ^

    I believe they are busy trying to raise more funds through investors and also trying to get firm commitments from buyers, and can't get construction loans until that happens.
    They have all their investment needs in place and their financing is in place for both projects (Boutique hotel and For Sale Development). They have all but a couple without deposits. They need their building permits. There is a delay in getting building permits at the City because of so many retirements and new people getting up to speed and working thru backlog.
    They need their building permits so they can finalize prices and close on the individual units. I do believe the prices are =>$405 a sq.ft..

  5. #255
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    Default Re: Villa Teresa

    It's crazy what's going on at the city right now. Our elevator inspection is WAY overdue and I've called multiple times but apparently we are down to one inspector for the entire city (for elevators).

  6. #256

    Default Re: Villa Teresa

    drove by today and dirt is moving!

  7. #257

    Default Re: Villa Teresa








  8. #258

    Default Re: Villa Teresa

    It's so strange how far the BOK building appears to be from Devon in some pictures.

  9. #259

    Default Re: Villa Teresa

    Beautiful shots

  10. #260

    Default Re: Villa Teresa

    Quote Originally Posted by dankrutka View Post
    It's so strange how far the BOK building appears to be from Devon in some pictures.
    it is a full block away

  11. #261

    Default Re: Villa Teresa


  12. #262

    Default Re: Villa Teresa




  13. #263

    Default Re: Villa Teresa





  14. #264
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    Default Re: Villa Teresa

    Click image for larger version. 

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  15. #265

    Default Re: Villa Teresa

    First condo framing starting to go up at the north end of that row:


  16. #266

    Default Re: Villa Teresa

    I noticed the other day they sold a tract with the south two buildings facing Classen Drive to some Opportunity Fund investor.

  17. #267

    Default Re: Villa Teresa

    Quote Originally Posted by T. Jamison View Post
    I noticed the other day they sold a tract with the south two buildings facing Classen Drive to some Opportunity Fund investor.
    I believe that was just creating a new entity to manage the hotel portion when it is developed.

    They have different investors in that project.

  18. #268

    Default Re: Villa Teresa

    Ahhh, that would make sense. Thanks.

  19. #269

    Default Re: Villa Teresa

    I think I've said it another thread recently, but the quality, urban development in this area in the last decade has really been phenomenal. They've done almost everything right. And it's easy to forget what this area looked like 10 years ago (when I lived there). These few blocks should serve as a model for the rest of the city.

  20. #270

    Default Re: Villa Teresa

    Midtown in particular has been fantastic but there are still big holes everywhere.

  21. #271

    Default Re: Villa Teresa

    Quote Originally Posted by Pete View Post
    Midtown in particular has been fantastic but there are still big holes everywhere.
    I think it's amazing to see when you or others have posted arial views. I've been shocked at the amount of vacant land still in the central area.

  22. #272

    Default Re: Villa Teresa

    Quote Originally Posted by Pete View Post
    Midtown in particular has been fantastic but there are still big holes everywhere.
    Good development takes time, particularly when there are enough holes that low density development is still cost-effective.

  23. #273

    Default Re: Villa Teresa

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  24. #274

    Default Re: Villa Teresa





  25. #275

    Default Re: Villa Teresa

    To refresh our memory..
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