Level Apartments

[metro]

address=123 NE 2nd
Block bounded by NE 2nd/3rd/Walnut/Oklahoma
owner=Richard McKown
cost=$24 million
architect=AHMM (UK)
height=4-story
acerage=2.62
222 units, Native Roots grocery store, parking garage


Information & Latest News

4/4/12 $71,000 building permit for Native Roots
1/7/11: Apartment complex planned for Deep Deuce
Tenants

Native Roots Market
Urban Johnnie
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[wsucougz]

There was an article awhile back about another developer taking over the building of the Brownstones. Details were few.

[mheaton76]

City Center Properties LLC purchased multiple lots at Maywood Park section one addition for $2.6 million from Flatiron Land Investors LP.

I wonder if this is just for the remaining empty lots, or if it includes the unsold Brownstones? It seems pretty clear that the project was ill-timed, and misjudged the market. Last time I drove by, I saw a large sign that read, "reinventing trips to grandma's", with a rendering of a very elegant, older lady, below. That suggests they may be making a very overt pitch for the Brownstones as a de facto retirement village. Not sure it will work, but if it were me, I would do whatever I could to get them sold and try not to take too much of a bath on it.

[Steve]

Story is coming... delayed by mother nature.

[PLANSIT]

The real estate people at Maywood Lofts told me that the property where "The Leslie" was supposed to go had been sold and the new developer was changing up the site plan with a completely new project. I'd assume they may have sold more than just that lot.

[okclee]

This sounds Big.

Can't wait for the story Steve.

[metro]

It has to be if they paid $2.6 million for land.

[LakeEffect]

Story is coming... delayed by mother nature.

Mother nature? The threat of severe weather keeps a story out?

[jbrown84]

I hope it's going to be for RENT.

[Steve]

Mother nature? The threat of severe weather keeps a story out?

Yep.

[Spartan]

I took that to mean that mother nature also guides how soon journalistic pieces can be finished.

[Steve]

Access issue...

[okclee]

Any more info on this project changing hands??

[betts]

I wonder if this is just for the remaining empty lots, or if it includes the unsold Brownstones? It seems pretty clear that the project was ill-timed, and misjudged the market. Last time I drove by, I saw a large sign that read, "reinventing trips to grandma's", with a rendering of a very elegant, older lady, below. That suggests they may be making a very overt pitch for the Brownstones as a de facto retirement village. Not sure it will work, but if it were me, I would do whatever I could to get them sold and try not to take too much of a bath on it.

It does not include the unsold Brownstones. And, the sign you saw with an elegant older lady is just one of several showing people of varying ages. I don't believe anyone is trying to make it into a de facto retirement village. It's just that townhouses definitely appeal to people who are empty nesters, as well as others.

Although the project was ill-timed, there were many things built in the last few years that one could say were ill-timed. And, although the developers may not have had their crystal ball out, I think we can be thankful they built the quality of buildings they did. We talk about sustainability and improving our downtown area. Had the developers thrown up a cheap rental, we might already see signs of decay. These buildings will be here in 100 years and still be worth renovating at that time. They may go through cycles of appeal to different age and income groups, but, like in some of our older cities, when the cycle turns, these will still be attractive to people interested in urban renewal. Anybody think we'll be renovating the Legacy apartments in 100 years? I'm appreciative that someone tried to put a quality product in place. Sadly, the economic downtown is going to make that less appealing and we'll probably get more Legacys and fewer brownstones.

[Spartan]

I thought Legacy was a good project. I'm not aware of any areas they skimped on the design, they just didn't do the kickass urban design they originally proposed and ended up eventually building a very plain urban design that otherwise had a kickass site plan. Businesses that line the sidewalk. Imagine that, and yes in my opinion that is worth saving in 100 years. Believe it or not buildings today are built to be sturdier and more utilitarian than buildings 100 years ago, even if they haven't yet passed the test of still standing 100 years later. In my opinion we should be fighting to save every 100 year old building.

[king183]

Is there any news on this? Did I miss the story? Or is the weather still keeping the printing press from operating?

[betts]

I was told that the empty lot between 2nd and 3rd, Walnut and Oklahoma was being sold, as well as the land between the Maywood Lofts and the Maywood Brownstones, as well as possibly the Finley Building. I don't know what that price tag would purchase in that location.

[Soonerus]

All of that land is being purchased by the Scaramucci's...

[betts]

True. I didn't want to say that but since I didn't, I'll agree.

[metro]

All of that land is being purchased by the Scaramucci's...

I've heard that from fairly accurate sources, I guess we'll see.

[king183]

Any idea what they plan on doing with it?

[onthestrip]

Hopefully not strictly upscale housing, as we've seen how quickly those have flown off the shelves...

[Spartan]

I really didn't realize they had that kind of money. The Scaramucci's used to live on the southside near my parents, who definitely aren't in financial position to buy Maywood Park..

[betts]

They're not buying the whole area, just open land and perhaps the Finley Building. But, the Scaramucci's have enough money to be one of the Thunder owners. They've got one of the $10 million Thunder partnerships, I believe.

[Spartan]

Southsyyyde. Represent.