Classen 16

[Pete]

What is the building facade material?

Not sure. Something we have yet to see in OKC, that's for sure.

[Spartan]

In the rendering it looks really good, so I'll be curious if real life turns out that way. We know what happened with LEVEL...

[soonerguru]

Love the rendering of this.

[sroberts24]

Any update on this project? Really looking forward to this one. Great gateway to the Plaza.

[Pete]

They are trying to get financing nailed down.

[Plutonic Panda]

Update on this?

[Plutonic Panda]

Is this still happening??

[Pete]

They are still trying to get financing.

[Plutonic Panda]

Thank you for the update. Are you confident this will happen?

[onthestrip]

Probably not the easiest to get financing for multifamily housing right now with the softening of the market. Several of the new smaller housing projects that have recently been finished look empty.

[Pete]

Probably not the easiest to get financing for multifamily housing right now with the softening of the market. Several of the new smaller housing projects that have recently been finished look empty.

Which?

[onthestrip]

Which?

The Old Town House Motel, the one east of the Plaza, and the Flamingo all appear to be empty. This is just based on driving by, so I could be wrong.

I would like to know the occupancy of the lift too. I do see many more of the balconies with stuff but it does seem pretty quiet for over 300 units. Then again, in the article about the lift sale, it said it was 95% full. So I may not know what I'm talking about.

[Pete]

^

The 3 you mentioned will fill up; give them time.

Overall the occupancy rate of newish downtown / urban housing is still very high.

[soonerguru]

The Old Town House Motel, the one east of the Plaza, and the Flamingo all appear to be empty. This is just based on driving by, so I could be wrong.

I would like to know the occupancy of the lift too. I do see many more of the balconies with stuff but it does seem pretty quiet for over 300 units. Then again, in the article about the lift sale, it said it was 95% full. So I may not know what I'm talking about.

The one east of the Plaza is absurdly expensive and weirdly sterile.

[Cam]

Any news on this?

[Pete]

They are close to finalizing financing and should be starting soon.

[Cam]

They are close to finalizing financing and should be starting soon.

Cool cool. Thanks!

[GoGators]

IMO this is one the most important developments in the entire core. Can’t wait to see this one get started.

[shawnw]

From Steve's chat this week...

Q: Pivot Project: What is the latest on your 16th and Classen proposal?

Ben Sellers, Pivot Project: I am happy to announce that equity and debt have been secured and we will be breaking ground within 75 days — as designed. It will be 48 units, 3,800-square-foot restaurant. We have an LOI (letter of intent) with an undisclosed operator.

[cinnamonjock]

Does anyone know what is going on with the gas station across the street from here? It's been closed for several months (at least) and has broken windows, but the sign out front says opening soon. They were also messing around with a billboard yesterday. It is right behind homeland.

[Pete]

Does anyone know what is going on with the gas station across the street from here? It's been closed for several months (at least) and has broken windows, but the sign out front says opening soon. They were also messing around with a billboard yesterday. It is right behind homeland.

Rick Dowell (yes, that Rick Dowell) bought it a few months ago.

No permits of any sort have been issued.

[5alive]

Just my opinion but there are a couple of other projects he needs to start and finish before tackling ANYTHING ELSE.

[Ross MacLochness]

Rick Dowell (yes, that Rick Dowell) bought it a few months ago.

No permits of any sort have been issued.

nooooooooooooooooooooooo

[Rover]

One would assume that everything he buys takes capital away from renovation projects. It seems obvious he is trying to create value by waiting for others to make his property more valuable and not by actually creating value himself. These are poor corporate citizens that do that. They just try to surf in the wake of others.

[Pete]

The city just gave Dowell an incredible gift in totally reworking Western Ave. between his parking lots and the office buildings at 2000 Classen.

Now, it's only 2 lanes instead of 4, has landscaped medians, dedicated and well-marked ped crossings and even flashing lights so office workers can easily move between the buildings and all that surface parking.

I wish they would have withheld it until he reopened the Dowell Center downtown.