Villa Teresa

[Midtowner]

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.

[whoeveriam]

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!

[Pete]

^

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.

[citi]

^

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..

[shawnw]

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).

[OKCretro]

drove by today and dirt is moving!

[Pete]

[dankrutka]

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

[SagerMichael]

Beautiful shots

[BoulderSooner]

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

it is a full block away

[Pete]

[Pete]

[Pete]

[shawnw]

[Pete]

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

[T. Jamison]

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

[Pete]

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.

[T. Jamison]

Ahhh, that would make sense. Thanks.

[dankrutka]

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.

[Pete]

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

[mugofbeer]

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.

[hoya]

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.

[OkieBerto]

[Pete]

[5alive]

To refresh our memory..