Downtown Housing , Update

[okclee]

Where are They ??

The Hill
Legacy Summit
The Factory
Lower Bricktown condos
The Triangle
Block 42
Midtown
The Central Ave Villas
etc.
etc.

What is the latest on all of the future planned housing developments for downtown ? Why does it take so long for anything to happen ? We all want downtown to have retail, dining, entertainment , etc. Yet the housing isn't there. My wife and I talk frequently about moving downtown into one of these "future developments" , where are they ? I drive downtown and look around hoping to see something, but I don't see them. I wonder how many other people are like my wife and I, wanting and waiting for development.

[Midtowner]

No worries. Rome wasn't built in a day.

[okclee]

That doesn't answer my question, and I am not worried.

Does anyone have any new info on these "future developments" for downtown housing ?

[Patrick]

Where are They ??

The Hill
Legacy Summit
The Factory
Lower Bricktown condos
The Triangle
Block 42
Midtown
The Central Ave Villas
etc.
etc.

What is the latest on all of the future planned housing developments for downtown ? Why does it take so long for anything to happen ? We all want downtown to have retail, dining, entertainment , etc. Yet the housing isn't there. My wife and I talk frequently about moving downtown into one of these "future developments" , where are they ? I drive downtown and look around hoping to see something, but I don't see them. I wonder how many other people are like my wife and I, wanting and waiting for development.

Many of these were just approved recently.

Ground work just started on the Legacy Summit. There were many delays due to a variety of factors, everything from needing to move utilities to financing.

The Hill has just completed the planning stage, and ground will move soon.
Same with Block 42.

The Factory is not happening. That was already announced.

The Triangle is in progress. This covers a large area and will probably occur a little at a time, as space is leased. Once space is leased in one building, they'll move to the next. This covers much of the Flat Iron district.

Lower Bricktown condos are still in the wrap up stages of planning, and should turn ground later this year, if not sooner. With Randy Hogan, you never know. So far, he's given pretty much what he promised though. Boy, did I just say that? lol!

It was just recently announced that the Sieber Hotel will be turned into residential. I'd say wait a year or two for this to start.


Paperwork, Urban Renewal, Financing...there's a lot of snags that have to be dealt with before these projects can begin. Unfortunately, it just takes time.

Oh yeah, I haven't heard anything about the Steel Yard recently.

[Patrick]

These things do take time. 10 years from now, I'd bet things will look very different downtown.

[Patrick]

Concerning retail, well, retail follows rooftops. I'd say retail will follow residential. Since we have little residential downtown right now, that explains the reason it's been so hard to get retail downtown.

[okclee]

Great info Patrick, I appreciate it.

Sometimes I wonder if these projects are losing steam, because I don't see any info or any progress report. Your information sounds like everything is moving along nicely.

My wife and I plan to move downtown within the next year or two. We want options on where to move, and we hope that the Triangle is all what it is planned to be.

[Patrick]

In my opinion, the success of the Triangle will depend on how early stages do. If early stages aren't very successful, you might se it come to a screaming hault. If they're very successful, it might spread like wildfire. Like I said, I'd say the Triangle will take at least 10 years to complete. AT LEAST!

Always remember, just because someone says they're boing to build something, doesn't mean they will. I can't beginto tell you how many different things Jim Brewer was gonig to build in Bricktown. And The Factory was all a big joke as well.

It all has to start somewhere though. With the success Deep Deuce has had, I'd imagine, success will follow at the Legacy Summit. Momentum will build, and hopefully more and more housing will follow. But momentum takes time.

I'd say the next completed developments you'll see will be over the next 3 or 4 years and will be Legacy Summit, Lower Bricktown Condos, The Hill, and Block 42. I don't see any reason why they won't be completed. The latter 3 will be the first For Sale residences in the downtown area. Legacy Summit will be apartments.

Hey, have you checked into The Classen? It's near downtown, and its coming along nicely. I only wish I had the money to buy there.

[Patrick]

Great info Patrick, I appreciate it.

Sometimes I wonder if these projects are losing steam, because I don't see any info or any progress report. Your information sounds like everything is moving along nicely.

My wife and I plan to move downtown within the next year or two. We want options on where to move, and we hope that the Triangle is all what it is planned to be.

If I were you, I'd contat Randy Hogan (Lower Bricktown), Anthony McDermid (The Triangle), Grant Humphreys (Block 42), and the developers of The Hill now. I've heard many people are already inquiring about these properties. You better hurry.

[BDP]

I've heard many people are already inquiring about these properties.

That's true. They have lists, and if some projections are right and you want to live downtown, you want to be on their list.

[Karried]

You can access some DT Housing web sites directly from here.

http://www.downtownokc.com/Default.aspx?tabid=109

I know it is frustrating. I'm trying to find townhomes for clients downtown and it is a slow process.

[ksearls]

Patience Grasshopper.

Take a look at the Skyline Snapshot, it is updated quarterly and will fill you in on all the news. The next one is due out in April.

http://www.downtownokc.com/Portals/1...2006%20new.pdf

Kim

[Pete]

I don't know why more people don't consider Mesta Park and surrounding areas.

Last fall when I was in town, I went to look at a beautifully restored home on a very nice street in north Heritage Hills (19th Street, I believe) and it was better than new -- gorgeous landscaping, nice yard, quiet street -- and was listed for $270K.

You can certainly pay less if you don't mind some renovatation.


I'd much rather buy in those neighborhoods than in many of the locations soon to be under constuction.

That is, unless the new construction could offer a great view or be on the river or offer something truly unique.

[ptwobjb]

The Hill has been sending out some mailings, I recently got one in the mail detailing floor plans and some other info. No solid numbers on pricing or construction dates. They seem to be putting off the pricing...probably testing the waters to be honest. I know they are aiming high on prices and want to see who bites.

Check out their website at:
http://www.thehillokc.com/

Block42 also has a website but you can see that link in the downtownokc website mentioned above.

Another option for renting is the Montgomery, a real nice property right in the middle of downtown. I live there right now and really enjoy it.

[HOT ROD]

Concerning retail, well, retail follows rooftops. I'd say retail will follow residential. Since we have little residential downtown right now, that explains the reason it's been so hard to get retail downtown.

I disagree with this. the ZIP code 73102 has a density of 4500 residents (NOW) and is less than 1 sq mile. the other ZIPs around 73102 are also the most dense in OKC.

I think they need to rethink that argument! OKC's centre is not New York or Chicago, but it does deserve retail! And it HAS the population to support it, ESPECIALLY local and urban oriented retail! The pop is there, in the centre and it will continue to grow.

I expect 73102 to be 10,000 in density by 2010, why would retail have to wait until that milestone! when as it stands, downtowners hop in their cars and shop in the suburbs (because they are forced to).

[John]

Once the 6th St/Downtown/Bricktown exit ramp is completed, the progress will pick up considerably, due to the numbers passing through.

[shane453]

I think Park Harvey is already in progress, is it not?

And I think the Sieber hotel article said that they were trying to get started by February (last month). The Midtown people are really trying to get off the ground fast, so that wouldn't surprise me at all if it were true.

[Patrick]

That is, unless the new construction could offer a great view or be on the river or offer something truly unique.

Ditto on Heritage Hills and Mesta Park. Paseo is also coming back slowly. Edgemere and Crown Heights are also nice.

For the reason stated above, I'd really consider the Classen. Awesome views of OKC.

[Patrick]

I think Park Harvey is already in progress, is it not?

Doug may have more information on that, since his office was located there.

[Patrick]

Another option for renting is the Montgomery, a real nice property right in the middle of downtown. I live there right now and really enjoy it.

I envy you.

[Patrick]

I disagree with this. the ZIP code 73102 has a density of 4500 residents (NOW) and is less than 1 sq mile. the other ZIPs around 73102 are also the most dense in OKC.

I think they need to rethink that argument! OKC's centre is not New York or Chicago, but it does deserve retail! And it HAS the population to support it, ESPECIALLY local and urban oriented retail! The pop is there, in the centre and it will continue to grow.

I expect 73102 to be 10,000 in density by 2010, why would retail have to wait until that milestone! when as it stands, downtowners hop in their cars and shop in the suburbs (because they are forced to).

I think the issue there, is that many of the residential areas right in the general vicinity of downtown aren't very upscale. Heritage Hills is an exception. Mesta Park really is too far away to be figured into that equation. Unfortunately, areas south of I-40 are included in the figures, as are some of the slums to the west.

[ptwobjb]

These things take time. Not too many people think of downtown when they think shopping. But as the residential projects build up downtown, this will start to change. But it won't happen over night.

[ptwobjb]

I envy you.

I really like living downtown. The only problem is security -- we've had several cases of cars being broken into and I had a motorcycle stolen a few months ago. But the Montgomery and city have been very responsive and are working on significantly increasing security in the parking areas.

These type of things are to be expected when new developments are starting in traditionally run down areas.

[Midtowner]

ptw, we have basically the same troubles down in Sycamore Square. Mostly petty stuff like car stereos getting stolen -- no cars yet.

That's life in the big city though

[John]

I think Park Harvey is already in progress, is it not?

There is quite a bit of work going on at the Park Harvey. I'm not sure of their timetable, but there is always construction activity going on whenever I'm passing by.