# OKCpedia > Summary & Reference Articles >  Downtown Housing Summary

## Pete

*Updated 12/20/18* 

 *Area*
 *Project*
 *Apartments*


 *Condos*





 *Built*
 *UC*
 *Prop.*
 *Built*
 *UC*
 *Prop.*

	BT
 222 E. Main
	4






	DD
	213 N. Central
	6






	MT
	4 at Harvey



	4



	AA
	5th Avenue Lofts
	20






	AA
	6 NE 6th



	1



	ART
	626 W. Main



	1



	ART
 700 West


	138




	MT
 701 N. Hudson



	9



	MT
 711 N. Hudson



	2



	MT
	905 NW 12
	6






	MT
 909 NW 12
	8






	MT
 Aberdeen
	119






	ART
 Avana
	303






	DD
 Block 42



	42



	NE
 Boulevard Place


	241




	MT
 Bower, The




	32


	DD
 Brownstones



	20



	CBD
 Carnegie Centre
	19






	LBT
 Centennial



	30



	DD
 Central Avenue Villas



	30



	MT
 Cirrus
	24




	4

	CBD
 City Place



	6



	MT
	Claremont
	17






	Plaza
 Classen16

	48





	MT
 Classen Commons
	48






	MT
 Classen Glen



	48



	MT
 Cline, The
	12






	ART
 Civic, The



	32



	DD
 Deep Deuce Apartments
	294






	NE
 Dunbar

	52





	MT
 Dwellings at SoSA




	7
	7

	MT
 Edge @ Midtown
	252






	MT
 The Elliott





	42

	CBD
	First National

	200





	UT
 Flamingo
	31






	MT
 Florence
	12






	MT
 Four30 Lofts
	26






	MT
	Francis Residential
	6






	MT
 Frank, The
	45






	MT
 Full Moon


	8




	AA
 Garage Lofts
	24






	MT
 Guardian
	22






	MT
 Hadden Hall
	18






	MT
 Harvey Lofts
	13


	13



	DD
 Hill, The



	69
	14
	71

	FR
 Left Frame Lofts




	  6


	DD
 Level
	222






	MT
 LIFT
	327






	MT
 Lisbon Lofts



	7



	DD
 Lofts at Deep Deuce
	12






	DD
 Lofts at Maywood Park



	56



	AA
 Marion
	10






	AA
 Mayfair
	18






	DD
 Maywood Apartments I
	139






	DD
 Maywood Apartments II
	160






	MT
 Memory Lane


	17




	AA
 Metropolitan
	330






	ART
 Montgomery, The
	70






	DD
 Mosiac
	97






	MT
 New Beasley
	14






	NE
 Page Woodson
	136






	CBD
 Park Harvey
	164






	CBD
 Regency Tower
	274






	MT
 Row on Twelve


	4




	MT
 Seiber
	28






	MT
 SoSa Townhomes





	9

	BT
 Steelyard
	249

	100




	MT
 Studio 910
	12






	UT
 Sunbeam Old Campus

	13





	ART
 Sycamore Square
	70

	66
	59



	CBD
 Times Square


	327




	MT
 Town House 
	17






	MT
 Villa Teresa





	17

	NE
 Twelve Twelve







	MT
 Watercut





	3

	FR
 West Village

	345






	Subtotals:
	3,678
	658
	901
	429
	59
	153




Total Aparts.
	5,237

Total Condos:
	641







	Total Downtown Living Units:
	5,878


AA=Auto. Alley; ART=Arts District / Film Row; BT=Bricktown; CBD=Central Business District; DD=Deep Deuce; LBT=Lower Bricktown; MT=Midtown; UT=Uptown[/center]

----------


## gracefor24

Pretty sure Block 42 has 37 sold.

----------


## BoulderSooner

213 N CENTRAL LLC     which is this building .. is in deep deuce  but not a deep deuce apt is 6 apt units http://www.oklahomacounty.org/assess...TNO=R020024105

and the sage building http://www.deepdeuceokc.com/   has 12 units

----------


## Pete

Thanks guys.

I've updated the numbers in the first post to reflect the changes.

----------


## wschnitt

This article says that 2/6 City Place penthouses were sold.  Did 2 more just sell?

http://www.newson6.com/story/1705172...uxurious-views

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## Pete

> This article says that 2/6 City Place penthouses were sold.  Did 2 more just sell?
> 
> http://www.newson6.com/story/1705172...uxurious-views


Yes.

----------


## wschnitt

Sweet.

----------


## mcca7596

The news story probably played a role in that.

----------


## kjones

Believe the Hill is closer to 20... Have sold 6-7 in last month.

----------


## Pete

The numbers on The Hill (and others) are straight from the County Assessor's site.

There may be units under contract but not yet closed and with a recorded deed.

----------


## Doug Loudenback

Very nicely done, Pete.

----------


## HOT ROD

are there no units in Automobile Alley, Film Row, or the other districts? what about Midtown and SOSA?

----------


## betts

> This article says that 2/6 City Place penthouses were sold.  Did 2 more just sell?
> 
> http://www.newson6.com/story/1705172...uxurious-views


If 4 City Place apartments have indeed sold, and they are primary residences for local people, then a paradigm shift has occurred in Oklahoma City.  That implies that the idea of living downtown is now acceptable to the wealthy in OKC.  That was not the case four to five years ago.  Pretty much, if you had large amounts of money, you lived in Nichols Hills, with only a few outliers, none of whom were downtown.

----------


## Spartan

Well keep in mind, Gailardia was once an outlier for the uber wealthy also.

----------


## Pete

> are there no units in Automobile Alley, Film Row, or the other districts? what about Midtown and SOSA?


I'll do a separate list for Midtown / Auto Alley.

As for SOSA, that's very difficult to determine because it's mainly single family residences.

----------


## betts

> Well keep in mind, Gailardia was once an outlier for the uber wealthy also.


Gailardia is primarily an outpost of the nouveau riche.  Most of the uber wealthy live in Nichols Hills. Except for the penthouse, City Place is probably for the riche, not the ubers.  It will be interesting to see who else is living there.

----------


## HOT ROD

nba player(s) perhaps?  :Smile:

----------


## Spartan

I think that may have been the target buyer for the penthouse, but there are only so many of those now. Of course, ironically, KD (and perhaps some others?) now live in the aforementioned Gailardia.

----------


## Pete

Here is a brand new downtown housing study; or at least the executive summary.

The images shown are the key findings.  Below, click the link for the full PDF file.












http://www.okctalk.com/images/pete/h...study51812.pdf

----------


## Pete

I've added a bunch of information, including an index to all downtown housing projects.

Click on the ARTICLE tab at the top of the page.

----------


## mcca7596

What about the Garage Lofts, The Sieber Apartments and wasn't Marva Ellard's 6th and Hudson project supposed to have more than 2 units (I didn't know any were completed)?

----------


## Spartan

> What about the Garage Lofts, The Sieber Apartments and wasn't Marva Ellard's 6th and Hudson project supposed to have more than 2 units (I didn't know any were completed)?


The old Allen's Cafe - they're working on the historic bldg now, and they were going to build I think 4 townhomes after that. There's a thread for that project around here somewhere. This is a work in progress as Pete is constantly reminding us, but even if there's something we've left out (even if you think we're already aware), please remind us and let us know!

----------


## wschnitt

Can anyone edit the article?  Cline has 2 units.

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## mcca7596

> The old Allen's Cafe - they're working on the historic bldg now, and they were going to build I think 4 townhomes after that. There's a thread for that project around here somewhere. This is a work in progress as Pete is constantly reminding us, but even if there's something we've left out (even if you think we're already aware), please remind us and let us know!


Thanks, I just didn't see the Garage Lofts or the Sieber.

----------


## Spartan

> Can anyone edit the article?  Cline has 2 units.


Yeah, anyone should be able to, the just better know their stuff. I think The Cline has 6 units? Its article is here: http://www.okctalk.com/showwiki.php?title=Cline+The

----------


## Pete

Thanks for the input.

I've added the Sieber and Garage Lofts.

The Cline has 12 units, and I've made that change as well.


Normally, any subscriber can edit an article (plus others who write me and ask for access) but in this case I actually keep this information on an external spreadsheet, due to the calculations.

So, merely list anything that has been missed and it will be added.

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## mcca7596

905 NW 12th and Francis Residential Building (1217 N. Francis), both Midtown Renaissance projects.

http://midtownr.com/View.aspx?type=res

----------


## wschnitt

Cool.  Good job Pete.  As far as the Hudson&6th Marva project.  Only the Allen's Cafe Building has progress although they have work permits posted for the other new projects.

----------


## Pete

> 905 NW 12th and Francis Residential Building (1217 N. Francis), both Midtown Renaissance projects.
> 
> http://midtownr.com/View.aspx?type=res


Thanks, those have been added as well.


Pretty comprehensive list with links in the ARTICLE tab.

----------


## soonerguru

Pete, if you go to the Facebook page for Studio 910 you'll note that they are actually also renovating Studio 900, across the parking lot. You will probably need to at least double the number of projected units for the property.

----------


## Pete

Here is a great summary document from Downtown OKC Inc., showing properties for rent and sale in the downtown area:

http://www.okctalk.com/images/pete/downtownliving.pdf

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## Pete

Bumping this up...  Go to the ARTICLE tab above for a great summary and index of all downtown housing projects.

----------


## ljbab728

An update by Steve about what is happening here.

Kevin Durant's purchase is just one sign of downtown Oklahoma City's housing boom | News OK

As he indicates, housing construction underway will soon top 1,000 units.

And no, I didn't have lunch with Steve or go out walking around with him to get advance knowledge about this story.  LOL

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## Pete

I've updated the article to reflect the addition of the Metropolitan and Mideke projects.

----------


## Teo9969

Seems the Condo side is fairly out of date. The 18 Hill units under construction are still in the Proposed slot, and I think far more than 8 Brownstones are sold, and I would bet more Lofts at Maywood as well. It also doesn't include Lisbons 7 units, the Clark Building, Firehouse @ Deep Deuce. And I might recommend putting all "Single-family units" under that one heading on the chart...you can footnote the addresses/names so as to keep the chart easier to read.

----------


## Teo9969

In terms of discussion: What would people say an optimal ratio of Rental:Owner units is?

I'm thinking between 6:1 and 7:1?

----------


## khook

You could add the Sorosis Club  Condos - 3 units  all owner occupied at 15th and robinson..... orginally developed by Mark Ruffin   South of the Aberdeen....

----------


## UnFrSaKn

OKC Central: Oklahoma City downtown apartment boom continues | News OK

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## UnFrSaKn

Prediction: Deep Deuce Will Be Fully Developed Within Five Years | News OK

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## Pete

Steve's article from today summarizing some of the larger downtown housing projects.

A new addition is that the Marion will be converted to 10 residential units -- I've updated the article above to reflect this, as well as moving a bunch of the units into the "under construction" category.


OKC Central: Oklahoma City downtown apartment boom continues | News OK

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## soonerguru

Someone needs to step up and build a first-class residential tower -- with for-sale units.

----------


## soonerguru

> Steve's article from today summarizing some of the larger downtown housing projects.
> 
> A new addition is that the Marion will be converted to 10 residential units -- I've updated the article above to reflect this, as well as moving a bunch of the units into the "under construction" category.
> 
> 
> OKC Central: Oklahoma City downtown apartment boom continues | News OK


Pete, I believe the numbers for the Guardian are short. It has 37 units.

Also, does this include the section 8 and other housing downtown? There are several units -- perhaps hundreds, in lower income buildings. These count for downtown residential as well.

If we were to assume the average occupancy is 1.6 residents per unit, that brings the inner downtown population up to more than 5,700 residents, not including the aforementioned lower income and special services properties.

----------


## Pete

Thanks, adjusted the Guardian number to 37.

----------


## Praedura

> A condo tower in the CBD would be perfect timing, IMO.


Here here!  :Smiley199:

----------


## Teo9969

> A condo tower in the CBD would be perfect timing, IMO.


It would have been so perfect on the Stage Center site.

However, the next best place would be 4th & EKG/Broadway, and there's plenty of options right there.

----------


## Teo9969

> There may be a nice infill lot too.  I like tall, thin condo towers.  They don't have large footprint. 
> 
> It's extreme but even a couple infill buildings like this: http://www.nytimes.com/2007/03/18/re...anted=all&_r=0


The Oklahoma wind would snap that in half like a cracker  :Wink:

----------


## Praedura

How about across from the Montgomery?



You'd have the beautiful old Montgomery building on one side, already used as residential, and the Bicentennial Park on the other side.
Lovely location. Unfortunately, you'd have to demo a few buildings to clear the space -- could be a big problem.

Or...

To avoid demolition, grab the parking lot at Hudson and 4th. 



The Regency is just to the north and Legacy Arts just to the west, so residential would not be out of place in that area.
The views of downtown would be unreal awesome.


(Both images taken from aerial photos by Holly Baumann)

----------


## soonerguru

> I like the idea of residential going just to the north of the CBD or just on the north edge of it.  More people in that area makes good sense as MidTown and Automobile Alley and even Deep Deuce start to offer more amenities.


I tend to agree. That infill spot near the Montgomery would look great in the skyline, though. But there aren't a lot of amenities nearby. Oh wait, streetcar. Nevermind.

----------


## Teo9969

Because the SE corner of 4th/EKG is probably not going to happen considering in whose hands the property likely sits, the lot directly across from the Buick building would really be a great spot. Easy walk up Broadway, quick access to Deep Deuce and Midtown, both of which will be substantially further along in amenities by the time any Residential tower is finished.

----------


## Praedura

Anyone care to take a stab at the probability we have a high rise residential project for downtown announced within the next 5 years?

----------


## Praedura

I'm guessing 85% -- because I'm optimistic.  :Smile:

----------


## soonerguru

I'm all in for a residential high rise, preferably featuring for-sale condos. But the Central Business District would be less attractive than the areas just outside the inner core, such as lower Midtown, Arts District, that vacant space in Auto Alley at Sixth and Broadway, etc.

----------


## Praedura

> I'm all in for a residential high rise, preferably featuring for-sale condos. But the Central Business District would be less attractive than the areas just outside the inner core, such as lower Midtown, Arts District, that vacant space in Auto Alley at Sixth and Broadway, etc.


For mid-rise buildings (say 7-8 to about 12-14 floors) all those locations would be great. If we're talking a true high-rise (about 20+ floors) then it would definitely fit better in the skyline if it was in or very near the CBD.

----------


## Pete

While it's not new, we do have the Regency Tower, which is an impressive 24 floors.

We also have The Classen (21) and the Park Harvey (17); City Place has condos on the very top floors (26-33).  It's looking more and more likely that the Dowell Center (20) will be converted to residential.  And further afield there is Founders (20) and Lakeview (15).

People love to forget/overlook these when bemoaning the lack of local high-rise living units.


I'm sure more will follow, especially if all the projects currently underway stay full.

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## OKCisOK4me

> I thought about that, that would be awesome to tear out those buildings and build a 50-70 story tower there.


I read this without seeing who posted it...then I scrolled back up with PluPan in my head ;-)

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## Plutonic Panda

> I read this without seeing who posted it...then I scrolled back up with PluPan in my head ;-)


Ah, come on man, a 70 story high-rise here in OKC isn't too unrealistic, is it? lol

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## bchris02

> Ah, come on man, a 70 story high-rise here in OKC isn't too unrealistic, is it? lol


70 stories? That may be a little ambitious. I have no doubt a residential project that is 40-50 stories would be doable with the right developer.

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## betts

You can add the Maywood Flats to that list.  Work has begun in earnest now.  They will be for sale housing. I don't know how many units - minimum of three, maximum of six in the first building. And we will finally get rid of those awful unfinished walls on the west side of the brownstones.  Two more brownstones are sold as well.

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## Pete

I've updated the article and summary to reflect the Lisbon Lofts and 10th & Shartel Apartments.

We are now close to 4,000 multi-family units.

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## soonerguru

Pete,

It occurs to me that this list does not include some of the lower-income and specialty properties downtown. Should those be included so we can get a more complete number of downtown residents? Or is this more specifically related to new / newer projects?

----------


## Pete

> Pete,
> 
> It occurs to me that this list does not include some of the lower-income and specialty properties downtown. Should those be included so we can get a more complete number of downtown residents? Or is this more specifically related to new / newer projects?


That information is not easily accessible.

If you know where to find it, let me know.

----------


## soonerguru

> That information is not easily accessible.
> 
> If you know where to find it, let me know.


I'll try to do some research on this.

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## Pete

You pretty much would have to take a map, then look up each property on the County Assessor's site, then research the number of units.

Also, we need to define downtown for the purpose of this exercise.

IMO, it should be the River to the south, 13th to the north, I-235 to the east and Classen to the west.

----------


## Praedura

Pete, it would be cool if this thread had an aerial map showing all the residential projects (existing and proposed) -- just like in the 10th & Shartel posting -- but including all of them (Midtown, DD, Bricktown, Auto Alley,...)

It would have to be a pretty big image to show all that, though.

----------


## Pete

> Pete, it would be cool if this thread had an aerial map showing all the residential projects (existing and proposed) -- just like in the 10th & Shartel posting -- but including all of them (Midtown, DD, Bricktown, Auto Alley,...)
> 
> It would have to be a pretty big image to show all that, though.


Project Map

----------


## Teo9969

> You pretty much would have to take a map, then look up each property on the County Assessor's site, then research the number of units.
> 
> Also, we need to define downtown for the purpose of this exercise.
> 
> IMO, it should be the River to the south, *13th to the north,* I-235 to the east and Classen to the west.


Maybe for the purposes of Residential, we should go to 18th on the North border. I know we have the Aberdeen north of 13th and several other buildings that will likely be renovated. Homeland sits on the south-side of 18th.

We could just include all the single-family single-units as one entry on the sheet by neighborhood and specify for HH, MP, SOSA and maybe DD.

----------


## Pete

I like 13th as the northern border because it's a clear delineation between downtown and the residential area of Mesta Park / Heritage Hills.  Almost everything between 13th & 23rd is single-family.

There are some exceptions but then why not take it to 23rd and beyond?  Lots of multi-family in Jefferson Park and the Paseo; tons of 8-plexes and the like.

When I think of downtown, it seems that includes the CBD, Film Row, SoSa, Midtown, Bricktown, Lower Bricktown, Auto Alley, Deep Deuce, Flatiron and Core to Shore.  And Midtown definitely stops at 13th street.

You do have Uptown/23rd, The Plaza, Heritage Hills, Mesta Park, Gatewood, Classen-Ten-Penn and a bunch of other urban districts, but I wouldn't include them in downtown.

----------


## Teo9969

Because I think the people in the lowest portions of HH/MP probably consider themselves downtown residents and frequent DT restaurants and shops as much as the people who live in Midtown...maybe even Deep Deuce.

18th is also the exact middle street between 23rd and 13th, and 23rd is the north border of scaled urban development in OKC. I agree that 13th is the border of "Downtown Proper"...but there's a blend out of downtown, especially between Harvey and Broadway, north of 13th. The only reason it doesn't do that on any of the other 3 borders is that 1 is an interstate, 1 is a river, and the other was an industrial center, and has sat relatively abandoned for decades.

Anyway, the area south of 18th is primarily a downtown supporting neighborhood, whereas a place like Jefferson Park is primarily a 23rd/Paseo supporting neighborhood, Gatewood/CTP for the Plaza, etc. I would bet north of 18th, people patron 23rd as much as they do downtown.

----------


## Pete

I've updated the summary above to add the latest projects and also split out built, under construction and proposed.

Of note:

1,789 current apartment units
565 are under construction
1,109 are definitively proposed

So, our apartment inventory is about to double in just the next couple of years, after pretty much doubling the last two.

----------


## soonerguru

> I've updated the summary above to add the latest projects and also split out built, under construction and proposed.
> 
> Of note:
> 
> 1,789 current apartment units
> 565 are under construction
> 1,109 are definitively proposed
> 
> So, our apartment inventory is about to double in just the next couple of years, after pretty much doubling the last two.


And this doesn't include the rumored development at 10th and Harvey. How many units will that have?

----------


## Pete

Just updated the article above to include the propose 700 West development.

We now have more apartments under construction and proposed than current exist in the central core.

----------


## catch22

> Just updated the article above to include the propose 700 West development.
> 
> We now have more apartments under construction and proposed than current exist in the central core.


So 100% gain in downtown population coming soon.

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## Teo9969

> Just updated the article above to include the propose 700 West development.
> 
> We now have more apartments under construction and proposed than current exist in the central core.


o0onot quiteyou forgot to move Maywood I over to the completed column  :Wink:  . That pushes the totals from 1801 completed vs. 1961 PP/UC to 1940 completed vs. 1822 PP/UC.

QUICK!!! Someone announce a 119 unit complex before The Edge finishes!

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## Pete

Yes, I also forgot to move Maywood II to under construction and to remove the Mideke project altogether, since the housing plans have been scrapped.

The article now reflects these changes.

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## soonerguru

Pete,

Do you have a map that ONLY shows the downtown housing units -- both completed and proposed -- and the number of units? My wife is doing a graduate paper and could use the information.

Thanks!

Brian

----------


## Pete

I've updated the summary in the article (top of the page) to accurately show the number of units under construction and a few new projects.

----------


## warreng88

I thought here would be the best place to put this:

Building the next generation: Downtown OKC needs more variety, families, panel says

By: Molly M. Fleming The Journal Record September 12, 20140 

OKLAHOMA CITY  By 2016, the number of housing units in downtown may increase more than 400 percent since 2009. That growth could be tapered, however, if some concerns are not addressed, said Ian Colgan, assistant planning director with the city of Oklahoma City.

He said existing and planned housing projects help meet a pent-up demand, but there must be more diversity in the product, including housing for families and a wider range of price points.

We are way ahead of the curve with the (John Rex Charter Elementary School), but we are behind the curve on housing for families, he said Friday.

Colgan spoke at the Greater Oklahoma City Chambers Friday Forum at the Sheraton Oklahoma City Downtown Hotel. Also on the panel were Downtown OKC Inc. CEO and President Jane Jenkins, Midtown Renaissance Group President Mickey Clagg and Milhaus Ventures Vice President of Development Terry Hughes.

Equity Realty Realtor Judy Hatfield led the panel discussion.

Colgan said 96 percent of the downtown housing units are leasable, which raised a question later as to why developers are not building for-sale units. He said building in the area can be costly; therefore, getting for-sale products will take work to be profitable.

Clagg said his company hasnt gone into for-sale products because its just not something it is interested in pursuing.

Jenkins said shes seeing more for-sale units developing in the Cottage District near St. Anthony Hospital, but there has been some hesitation with pursuing the market because of previous efforts.

Some initial offerings didnt do so well when they were for sale, she said, giving The Montgomery as an example.

The building at Main Street and Walker Avenue was developed as condominiums. The condos didnt sell well, however, and the units are now leased.

Nevertheless, Jenkins said John Rex Elementary is an innovative amenity. She recently returned from the International Downtown Associations annual conference and trade show and learned what other downtowns worldwide are doing.

Nobody has built an elementary school, she said. We built the elementary with the idea and the vision that it will encourage families to move downtown.

She said that, according to a 2013 survey conducted by Downtown Oklahoma City Inc., 87 percent of the areas residents are childless.

Thats a trend wed like to change, she said.

Getting families downtown will require more than providing homes they can own. Families want amenities such as grocery stores and pharmacies, both of which are in limited supply in the area, Jenkins said. She said many downtown residents want a bookstore. Whatever retail develops, she said, she and her staff want downtown to be a locally owned hub. When she worked in Colorado, she saw national stores come into the area, stay for a year, then leave.

National retailers gave Boulder some credibility, she said. But local retailers will be there to sustain (the area).

Clagg said he thinks more retail will come as housing increases, which is his groups goal.

Were leading with residential, he said. Were going to build density to get retailers. I think the retailers will come and the amenities will come as we increase our population.

When a grocery store or other large development wants to build downtown, Clagg said his company will be ready for the new business. He said he doesnt plan to develop all of its green spaces just yet.

We need to hold back some land for those future uses that we think will come, he said.

Midtown Renaissance isnt the only company adding density. Indianapolis-based Milhaus Ventures is building the 329-unit LIFT apartments at NW 10th Street and N. Shartel Avenue. They are expected to be complete in 2015. Hughes said the company entered the market through a personal connection, but he doesnt expect LIFT to be its only project.

We look to be here for many years to come, he said.

He said the company became interested in Oklahoma City after learning about the growing population and downtowns livability.

People want to live in an area thats walkable, he said.

He said the company also liked the neighborhood distinction. While people choose where they live based on price point, all the neighborhoods have different assets.

To keep this downtown momentum going, he said the city needs to continue supporting downtown employment by making capital investments in city projects.

Jenkins said she expects that to continue and more. Shes worked with downtowns for 28 years and has never seen such a push to develop an area, she said.

Never have I seen converging trends favor downtowns as much as I do today, Jenkins said. For once, Im proud to say that Oklahoma City is not behind the curve. Were ahead of the curve.

----------


## warreng88

From The Journal Record:

Surrounding neighborhoods could alleviate downtown OKC housing shortage

By: Molly M. Fleming September 18, 20140 

OKLAHOMA CITY  People who want to buy a home downtown may have to purchase in a peripheral neighborhood thats adjacent to the corridor rather than in the central core, according to some Oklahoma City Realtors.

The desire (to live downtown) is there, said Sarah Bytyqi, managing broker at Verbode real estate group. People want to move back downtown. They want to move closer. Its not about the demand. We just dont have the product, and we dont have the product in existing urban housing.

According to real estate website Zillow.com, the average sales price for a home in Oklahoma City in July was $159,800. In the central downtown core, one-bedroom condominiums start at $180,000.

A two-bedroom, two-bathroom condo in the Central Avenue Villas at 444 N. Central Ave. is listed for $252,900.

Bytyqi said she sells properties in The Hill at Bricktown, Block 42, and The Brownstones at Maywood Park.

Everything else is rental, she said. Nothing (downtown) really turns over that often. Every developer is developing rentals because thats where the moneys at. But at the same time, its not serving the single-family unit.

Oklahoma Association of Realtors Past President Joe Pryor said its difficult for developers to build single-family homes downtown because of the land cost. A multifamily developer can build and rent the space multiple times, eventually getting back the investment. A single-family home can be sold once or once every few years, so unless its priced like the brownstones, or homes on The Hill, the return isnt as immediate.

There really is no affordable housing down there, he said. I dont particularly see any affordable housing coming. You just cant build them enough to get a groundswell.

Pryor said there could be a surge in adjacent areas, such as Classen Ten Penn. The neighborhood runs from N. Classen Boulevard to N. Pennsylvania Avenue, and from NW 10th Street to NW 16th Street. Creating some type of incentive program for renovating homes in that neighborhood could encourage people to buy, Pryor said.

In those areas, we can create affordable housing, he said.

Families need more than a nice house, however. The schools near downtown have caused some concern in the past. Bytyqi said she would like to see downtown businesses get involved with schools such as Edgemere Elementary School and Gatewood Elementary School. She said improving those schools could be the first step to getting more people to move in and renovate existing homes.

We need to develop in the outlying areas that are already existing, she said. We should focus on bringing those neighborhoods up. In my opinion, thats the only logical solution.

----------


## Canoe

Here is the exception to the above rule.  http://www.okctalk.com/general-real-...elp-build.html 

Theses lots feed the best elementary school downtown and I would like to build for a family.  We will see if there is enough interest from families to own downtown or if I will be forced to build for the rental market.

----------


## okcRE

anyone has downtown housing units count for city like Kansas city, Nashville, Austin, Charlotte?

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## Pete

I updated the article at the top to reflect the addition of the Clayco Towers and the movement of several projects from UC to complete and from proposed to UC.

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## Plutonic Panda

I thought the Francis Apartments were already under construction?

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## Pete

> I thought the Francis Apartments were already under construction?


Not quite yet, but they are getting close.  You may be thinking of LIFT, which is very nearby.

----------


## Pete

Just did a thoroughly update to this summary, adding several projects and updating others.

Probably should take the Clayco stuff out but I'm leaving it in for now.  Everything else is really solid with lots more to come.

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## okatty

Very good summary Pete - i assume "sold" means formally deeded over.  For example, think Lisbon is fully under contract but not yet listed as sold.

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## Pete

One thing that is interesting to note:  the inventory of apartments units will increase by fully 50% with in the next year, as several big complexes (LIFT, Metropolitan, Steelyard, etc.) open for business.

We'll go from just under 2,500 apartments to about 3,700.

If rental and occupancy rates stay strong expect tons more project to queue up, as it will be pretty much certainly proof there is far more demand than inventory.

----------


## Pete

Just did a thorough update of the summary; added the newest projects and deleted a couple of now dead ones (like L2 and Clayco).

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## DenverPoke

> Just did a thorough update of the summary; added the newest projects and deleted a couple of now dead ones (like L2 and Clayco).


Surprisingly low numbers.  With the price/sqft of SFH in some of the more popular 'hoods its pretty stunning nobody has stepped up to build any condo towers, even if only 100-200 units.

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## Pete

I covered the summary article to a table with links to the various projects.

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## soonerfan_in_okc

The high rental rate stated in that 2014 article makes me a little concerned about the long term upkeep of these complexes. I would hate for them, and in turn the neighborhood, to not be in top shape 25-30 years from now. 

The whole inner city gentrification craze is still somewhat new, so I don't know if any other cities have experienced it long enough to act  as a model for what would happen if rental rates don't drop. I know these aren't your run of the mill, low income housing complexes, so hopefully the result will be different.

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## Teo9969

> The high rental rate stated in that 2014 article makes me a little concerned about the long term upkeep of these complexes. I would hate for them, and in turn the neighborhood, to not be in top shape 25-30 years from now. 
> 
> *The whole inner city gentrification craze is still somewhat new*, so I don't know if any other cities have experienced it long enough to act  as a model for what would happen if rental rates don't drop. I know these aren't your run of the mill, low income housing complexes, so hopefully the result will be different.


What's actually new is the 70-years of sprawl that gripped most major US metropolitan areas post-WWII. 

The Center-city is not going to go anywhere and you only have to look to Europe and centuries upon centuries of history to realize what the future holds. That's not to say there will be no decline, but the forces that have worked to, over time, severely depress areas in suburban US communities simply will not apply. Chief among them is that the flight that was enabled by cheap, undeveloped land will simply not be a thing as urbanization spreads its tendrils.

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## Plutonic Panda

Wasn't there just a massive redevelopment of a lot of European urban centers too? I haven't been overseas, but I've heard from people even in a lot of European cities the area can get bad quick with the turn of a corner. 

But why are we even comparing Europe which has an entirely different culture than the US on almost every level. I love European girls and talk to a lot and they tell me they love American cities. So you have people from both sides liking and disliking each other's cities, but suburbs are not going away. Neither are large roads or highways.

The gentrification of these cities is newer than the sprawl and if you live in big cities you'll actually a large amount of people who are opposed to gentrification because of the high rent prices that come with it.

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## Teo9969

I'm not making value judgements, simply stating that the mechanisms which have historically led to the quick digression of certain areas in US cities are absent in downtown OKC.

If you want to live in an urban environment in OKC, you have insanely limited options, and that's not going to change for many many decades to come. The reason an area can turn south quickly in Europe is because there are still viable options to live a similar lifestyle in other parts of any given city. The same is true of suburban living for most US suburbs. There are abundant options of that flavor.

Also, don't mistake the term urban-center for city center. All of Vienna is an urban center, but the city center is enclosed in Ringstrae...short of being decimated through an act of war, it's hard to see any way that everything in that city center ever falls below world-class. It's been world class for almost a millennium now. The city centers of Europe continue and will always be areas with the some of the highest concentrations of wealth and quality development in the world.

Everything going into downtown OKC is going into the heart of the city, and, short of being decimated through an act of war, it's hard to see us committing anew the mistakes we made by neglecting the area post WWII. That's not to say that Deep Deuce/Bricktown will always be the epicenter of urban living in OKC...but it's simply never going to turn into the Lantana Apartments or really anything close. In fact, I think it's more likely that if one of these developments starts to take a turn for the worse sometime during the next 20-40 years, that it could be razed for an even higher quality development.

Now something like the new Page Woodson Apartments...that's an area that could be developed, be great for a decade or two and then see a noticeable drop off afterward.

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## Laramie

Teo9960:

Hope what you're saying holds up--it will be great for OKC's future.  Seeing the downtown/bricktown area core continue to expand in all directions adds credence to your post.  Plus the hotel & residential developments once they demolish the Producers COOP Mill eyesore.

Plausible?  We see what the distaff of the core holds for OKC's growth & expansion.

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## Spartan

> I'm not making value judgements, simply stating that the mechanisms which have historically led to the quick digression of certain areas in US cities are absent in downtown OKC.
> 
> If you want to live in an urban environment in OKC, you have insanely limited options, and that's not going to change for many many decades to come. The reason an area can turn south quickly in Europe is because there are still viable options to live a similar lifestyle in other parts of any given city. The same is true of suburban living for most US suburbs. There are abundant options of that flavor.
> 
> Also, don't mistake the term urban-center for city center. All of Vienna is an urban center, but the city center is enclosed in Ringstrae...short of being decimated through an act of war, it's hard to see any way that everything in that city center ever falls below world-class. It's been world class for almost a millennium now. The city centers of Europe continue and will always be areas with the some of the highest concentrations of wealth and quality development in the world.
> 
> Everything going into downtown OKC is going into the heart of the city, and, short of being decimated through an act of war, it's hard to see us committing anew the mistakes we made by neglecting the area post WWII. That's not to say that Deep Deuce/Bricktown will always be the epicenter of urban living in OKC...but it's simply never going to turn into the Lantana Apartments or really anything close. In fact, I think it's more likely that if one of these developments starts to take a turn for the worse sometime during the next 20-40 years, that it could be razed for an even higher quality development.
> 
> Now something like the new Page Woodson Apartments...that's an area that could be developed, be great for a decade or two and then see a noticeable drop off afterward.


I think this is all pretty accurate. Regarding Page Woodson, that's the reason for the mixed-income emphasis. Ultimately the NE Renaissance will be tied to the rise and/or fall of black lives in this country, and if they can do better as we all hope, that geographic community will consequently improve along w its demographic. It could potentially be what OCURA has been working toward all along with the JFK neighborhood, Page Woodson, and other NE projects - the full restoration of a thriving black neighborhood.

That said, there are some threats still out there. I'm surprised ODOT is more interested in three new peripheral highways than they are in widening 235 downtown, which will probably happen someday. The boulevard is an ongoing threat. 

Arkansas literally just pulled up streetcar tracks in Little Rock to widen their downtown freeway and add an exit by the Clinton Library. Cincinnati is trying to sabotage its streetcar with traffic signalization that keeps it stranded for several minutes at every single block. There are always unfathomable, unforeseeable threats, because I am convinced that there are powers that be that genuinely do not want a successful urban core.

I think a lot of these anti-gentrification liberals, anti-urban conservatives, and anti-infrastructure / pro-highway Republicans are all on the same team, benefiting the same special interests, just going at it from different directions. In bigger, older cities I have been amazed at the ability of the anti-gentrification crowd's ability to keep cities retrograde by fighting transit and anything that would cement change. I think there's a poverty industrial complex that is just as powerful toward this end as the highway lobby at the end of the day.

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## Plutonic Panda

> I think this is all pretty accurate. Regarding Page Woodson, that's the reason for the mixed-income emphasis. Ultimately the NE Renaissance will be tied to the rise and/or fall of black lives in this country, and if they can do better as we all hope, that geographic community will consequently improve along w its demographic. It could potentially be what OCURA has been working toward all along with the JFK neighborhood, Page Woodson, and other NE projects - the full restoration of a thriving black neighborhood.
> 
> That said, there are some threats still out there. I'm surprised ODOT is more interested in three new peripheral highways than they are in widening 235 downtown, which will probably happen someday. The boulevard is an ongoing threat. 
> 
> Arkansas literally just pulled up streetcar tracks in Little Rock to widen their downtown freeway and add an exit by the Clinton Library. Cincinnati is trying to sabotage its streetcar with traffic signalization that keeps it stranded for several minutes at every single block. There are always unfathomable, unforeseeable threats, because I am convinced that there are powers that be that genuinely do not want a successful urban core.
> 
> I think a lot of these anti-gentrification liberals, anti-urban conservatives, and anti-infrastructure / pro-highway Republicans are all on the same team, benefiting the same special interests, just going at it from different directions. In bigger, older cities I have been amazed at the ability of the anti-gentrification crowd's ability to keep cities retrograde by fighting transit and anything that would cement change. I think there's a poverty industrial complex that is just as powerful toward this end as the highway lobby at the end of the day.


Anti-highway/infrastructure!? Are highways and freeways not infrastructure?

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## Teo9969

> Anti-highway/infrastructure!? Are highways and freeways not infrastructure?


I feel he was going for the "Anti-public-transit-infrastructure".

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## Spartan

Yeah it will be interesting to see Trump DOT attempt infrastructure tax credits with infrastructure that people aren't used to paying for (roadways), as opposed that which we are (transit). This whole public-private partnership model depends on capturing some kind of revenue to pay back bonds and whatever other layers of financing.

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## soonerguru

When is the last time the numbers on this survey were updated?

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## Pete

> When is the last time the numbers on this survey were updated?


I update it all the time.

Need to add a couple of small projects and FNC"s 200 apartments.

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## Bits_Of_Real_Panther

Whats a good location for a downtown/bricktown/midtown CVS or Walgreen's? its a surprise to me there isn't one yet.

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## Pete

> Whats a good location for a downtown/bricktown/midtown CVS or Walgreen's? its a surprise to me there isn't one yet.


CVS had a tentative deal to go into the Century Center a couple of years ago then backed out at the last minute.

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## Plutonic Panda

They are going into that Times Square development(has another placer name been chosen yet?) along with a grocery store, right?

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## Pete

> They are going into that Times Square development(has another placer name been chosen yet?) along with a grocery store, right?


I'm sure they've talked to CVS and/or Walgreens but no deal has been struck for that site and they are probably a few years out before building it.

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## Pete

I just did a full update on this summary.

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## Pete

I updated the article in the 1st post of this thread to reflect a bunch of new projects.

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## AshleyInOKC

> I updated the article in the 1st post of this thread to reflect a bunch of new projects.


Are you including projects that are in-the-works, or only completed projects?

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## Pete

> Are you including projects that are in-the-works, or only completed projects?


In the works (as in formally announced) but I'm behind in updating the list.

Actually, keeping all this stuff updated is a crazy amount of work and very few people seem to care, so I've slacked off.  I'll keep doing it, just not as frequently.

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## Plutonic Panda

Pete you should keep it up! I know you’re busy though! Myself—I’m sure others—really appreciates this list and the urban project summary and I often find I’m going through it at least once a month; I still get excited every time.

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## Pete

> Pete you should keep it up! I know you’re busy though! Myself—I’m sure others—really appreciates this list and the urban project summary and I often find I’m going through it at least once a month; I still get excited every time.


That's good to know.

I'll update both soon.

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## Plutonic Panda

> That's good to know.
> 
> I'll update both soon.


I know I’ll be looking forward to it! Much thanks

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## Pete

I just updated this.

Please provide any additions/corrections.

I left Times Square and the Sycamore Square addition, but they are almost certainly dead at this point.

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## Pete

Added Boulevard Place and 700 West.

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## Plutonic Panda

What about the proposed small condo development in Sosa?

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## Pete

> What about the proposed small condo development in Sosa?


Do you mean SoSA Townhomes or Cirrus?

Both or on the list.

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## Plutonic Panda

^^ it’s the one straight across from Cirrus.

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## Pete

> ^^ it’s the one straight across from Cirrus.


if you mean the 3 units to the east, that project is dead.

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## sroberts24

Any idea of what our number of downtown residents is now?  

Just got back from Nashville and couldn't believe all the development, more than anything I had ever seen in Austin, Dallas or Charlotte.  Read an article that DT Nashville currently has 12,000 residents living downtown and projected 20,000 by 2022.  I would kill to have 1/100 of the development going on that they have. (which is hard to imaging with everything we have going on, but what we have doesn't even touch the surface to them) Would love to see a lot of their midrise dense development around the Gulch or Vandy take place around Scissortail Park.

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## shawnw

If you ask DOKC they will tell you between 9-11K, depending on which figures you use.

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## sroberts24

Either the number I saw on Nashville were way off or DOKC is way off with their numbers. If DT OKC has 9-11k people living in it then there is no reason we shouldnt have and sustain much more retail, a full service grocery and more.

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## LordGerald

[QUOTE=sroberts24;1097271]Either the number I saw on Nashville were way off or DOKC is way off with their numbers. If DT OKC has 9-11k people living in it then there is no reason we shouldnt have and sustain much more retail, a full service grocery and more.[/QUOTE

I agree. DOKC counts total units within the BID area, which is large. One of the major developers of living units DT told me that occupancy rates were embarrassing low. I've always questioned DOKC's stats.

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## soonerguru

> *One of the major developers of living units DT told me that occupancy rates were embarrassing low.* I've always questioned DOKC's stats.


I'm not hearing this elsewhere, but I find it intriguing. Maybe we have run out of people willing to shell out $1,400-1,800 for a one bedroom unit (parking extra?).

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## Laramie

We've way overbuilt downtown housing; now can we fill those units with some quality jobs professionals who will bring more people into the DT scene vs. trading suburban housing trading places for downtown units. 

We have the capacity to attract more jobs like Heartland Payments but we can't in turn lose Sonic Drive In & 7 Eleven corporate jobs.

Does anyone know how Oklahoma's Quality Jobs program is doing in Oklahoma City with adding jobs or expansion of existing corporations/companies in our metro.  Tulsa looms big with American Airlines maintenance center expansion if those jobs come to fruition.

American Fidelity Assurance of OKC has been list as 55 of 100 Best Fortune 100 best companies to work for in 2019:  https://www.greatplacetowork.com/bes.../100-best/2019

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## BoulderSooner

> We've way overbuilt downtown housing; now can we fill those units with some quality jobs professionals who will bring more people into the DT scene vs. trading suburban housing trading places for downtown units. 
> 
> We have the capacity to attract more jobs like Heartland Payments but we can't in turn lose Sonic Drive In & 7 Eleven corporate jobs.
> 
> Does anyone know how Oklahoma's Quality Jobs program is doing in Oklahoma City with adding jobs or expansion of existing corporations/companies in our metro.  Tulsa looms big with American Airlines maintenance center expansion if those jobs come to fruition.
> 
> American Fidelity Assurance of OKC has been list as 55 of 100 Best Fortune 100 best companies to work for in 2019:  https://www.greatplacetowork.com/bes.../100-best/2019


this is simply not true at all ......  downtown housing is still underbuilt

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## PaddyShack

> American Fidelity Assurance of OKC has been list as 55 of 100 Best Fortune 100 best companies to work for in 2019:  https://www.greatplacetowork.com/bes.../100-best/2019


I really wish we would have stayed at our Classen complex or moved into the Core instead of wide open pastures...

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## GoGators

> We've way overbuilt downtown housing; now can we fill those units with some quality jobs professionals who will bring more people into the DT scene vs. trading suburban housing trading places for downtown units. 
> 
> We have the capacity to attract more jobs like Heartland Payments but we can't in turn lose Sonic Drive In & 7 Eleven corporate jobs.
> 
> Does anyone know how Oklahoma's Quality Jobs program is doing in Oklahoma City with adding jobs or expansion of existing corporations/companies in our metro.  Tulsa looms big with American Airlines maintenance center expansion if those jobs come to fruition.
> 
> American Fidelity Assurance of OKC has been list as 55 of 100 Best Fortune 100 best companies to work for in 2019:  https://www.greatplacetowork.com/bes.../100-best/2019




Downtown housing is not even close to being overbuilt. 
Trading suburban housing units for urban housing units Is a good thing. 
A thriving Tulsa metro is a benefit for OKC and not a threat.

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## SoonerDave

> this is simply not true at all ......  downtown housing is still underbuilt


Underbuilt by what standard? When I drive through downtown, all I see is swaths of unoccupied properties with "For Rent" signs up, and the people I've talked to with a LOT more knowledge/insight than I could remotely have into the downtown housing market right now said there's a lot more supply than demand - and that supply is *really* expensive, which is part of the problem.

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## BoulderSooner

> Underbuilt by what standard? When I drive through downtown, all I see is swaths of unoccupied properties with "For Rent" signs up, and the people I've talked to with a LOT more knowledge/insight than I could remotely have into the downtown housing market right now said there's a lot more supply than demand - and that supply is *really* expensive, which is part of the problem.


% of okc population

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## Pete

Occupancy rates in downtown are very high, which is why you continue to see more housing proposals.

A couple of years ago, we added a couple of thousand units in a short period of time and they have all been absorbed.

Here are some projects in the queue:

First National
Steelyard Phase II
Level East
700 West
Boulevard Place
4th & EK Gaylord
Row on Twelve
Classen 16
The Bower
Villa Teresa
The Sentinel
Farmer's Market
Strawberry Fields

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## Plutonic Panda

Pete, is 700 west still moving forward?

----------


## Pete

> Pete, is 700 west still moving forward?


Yes, I just spoke to Ron Bradshaw a couple of weeks ago.

They should start later this year.

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## shawnw

I thought Steelyard II wasn't looking good? Or is it just delayed?

----------


## Pete

> I thought Steelyard II wasn't looking good? Or is it just delayed?


Delayed a bit but still planned.

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## Plutonic Panda

> Yes, I just spoke to Ron Bradshaw a couple of weeks ago.
> 
> They should start later this year.


thank you for the information. I’m glad it is still a go.

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## Pete

I believe 700 West will actually be more ambitious than the plans we last saw, including structured parking.

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## Laramie

Thanks for the correction, Pete.   Every time I'm in the core it seems that every codo, apartment or dwelling has a vacancy sign.  

So, do you think we'll see some mid rise or high rises in the core or on the riverfront.

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## Pete

I've heard there will be mid-rise residential on the old Goodwill site, at Reno and OKC Blvd.

But I don't know what that means in terms of levels.

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## GoGators

> Underbuilt by what standard? When I drive through downtown, all I see is swaths of unoccupied properties with "For Rent" signs up, and the people I've talked to with a LOT more knowledge/insight than I could remotely have into the downtown housing market right now said *there's a lot more supply than demand - and that supply is *really* expensive, which is part of the problem.*


This doesn't make sense. If there was a supply glut, the supply price would reflect that.

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## Pete

Of course there are 'for rent' signs up downtown.  We now have tons more properties and no matter how high the occupancy rate, there are always people moving out.


Where on earth do you find a huge concentration of apartments and not see 'for rent' signs?  I would see them everywhere in Santa Monica which is one of the most notoriously tight housing markets anywhere.


And BTW, NEW construction and remodels are expensive.  There are still tons of older properties that are reasonable.

At some point people here are going to finally come to grips with the fact that new construction downtown is always going to be pricey no matter how you do it.   But there are also older units all around The Paseo and elsewhere which are plenty reasonable.  Why is it such a hard concept to fathom that new, nice things cost more money??


I've made this point several times:  When I first moved back I lived in a beautifully renovated apartment in SoSA.  I then bought a completely renovated 3 bed, 2 bath house with an attached garage, on 1/3rd an acre backing to park near 50 Penn -- and my payment is well less than my previous rent.  I can't walk out my front door to hundreds of places like before, but I am literally a 7-minute drive from anywhere I want to go.  And I'll be able to walk to The Oak, hopefully soon.

There are a ridiculous amount of good housing options for almost silly prices very close to the core.  If you want to live within walking distance of the billions in investment, then you are going to have to pay.  And plenty of people seem to be willing to do that.

At the same time, there are almost unlimited affordable options very close in.  I simply can't believe people gripe about housing costs, as if they are somehow owed a cheap, new place with fantastic finishes and amenities within easy walking distance of everything downtown.  That is never, ever, ever going to happen.  You could have done that 10 years ago but that ship has sailed and if you feel you missed out, that's your own fault.

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## dcsooner

> Of course there are 'for rent' signs up downtown.  We now have tons more properties and no matter how high the occupancy rate, there are always people moving out.
> 
> 
> Where on earth do you find a huge concentration of apartments and not see 'for rent' signs?  I would see them everywhere in Santa Monica which is one of the most notoriously tight housing markets anywhere.
> 
> 
> And BTW, NEW construction and remodels are expensive.  There are still tons of older properties that are reasonable.
> 
> At some point people here are going to finally come to grips with the fact that new construction downtown is always going to be pricey no matter how you do it.   But there are also older units all around The Paseo and elsewhere which are plenty reasonable.  Why is it such a hard concept to fathom that new, nice things cost more money??
> ...


+2000

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## Plutonic Panda

Almost every building in Hollywood has a for rent sign in front.

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## Teo9969

> Of course there are 'for rent' signs up downtown.  We now have tons more properties and no matter how high the occupancy rate, there are always people moving out.
> 
> 
> Where on earth do you find a huge concentration of apartments and not see 'for rent' signs?  I would see them everywhere in Santa Monica which is one of the most notoriously tight housing markets anywhere.
> 
> 
> And BTW, NEW construction and remodels are expensive.  There are still tons of older properties that are reasonable.
> 
> At some point people here are going to finally come to grips with the fact that new construction downtown is always going to be pricey no matter how you do it.   But there are also older units all around The Paseo and elsewhere which are plenty reasonable.  Why is it such a hard concept to fathom that new, nice things cost more money??
> ...


Yeah...having bought 10 years ago, it is insane to see myself get "priced out" of my neighborhood. I mean, sure, I could still afford to buy a home in the area, but it would certainly come at a premium and have plenty of work needed to be done to it.

Difference is, I'm just shocked it all happened so quickly. I was thinking, especially after the 2014 oil crash, that we were looking for the prices we see today to be occurring 2025+. Hindsight has me kicking myself for not finding a way to buy ever freaking lot that I could in my neighborhood.

----------


## Pete

^

I mentioned this elsewhere, but I just had my house appraised and the value went up about 30% in just 2 years.

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## Pete

Tsoodle: Report on downtown housing shows positive trends
By: Kenton Tsoodle Guest Column June 7, 2022 

The Alliance for Economic Development of Oklahoma City commissioned a downtown housing study by Economic & Planning Systems Inc. to identify trends and conditions in downtown housing and how Oklahoma City can continue to develop the types of downtown housing that will best support our residents’ needs and encourage further economic development.

Housing demand in Oklahoma City has been driven by a resilient economy, anchored by strong population, employment, and income growth. Between 2010 and 2020, Oklahoma City added 100,000 residents and 92,000 jobs, while median household income increased. These factors contributed to a strong housing market across all areas of the city.

The study shows that downtown Oklahoma City has experienced a significant amount of housing development activity over the past decade, most of which have been apartments. There is a total of approximately 5,020 housing units downtown, with 2,820 new housing units added between 2010 and 2021. Midtown leads with 28% of the total, followed by Deep Deuce, the Arts District, Automobile Alley, the Innovation District and Bricktown.

Many of these housing projects have needed public support to be feasible, and tax increment financing has shown to be the most effective tool for incentivizing multifamily housing at desired density levels. West Village, The Steel Yard and Metropolitan Apartments have built four- and five-story apartments with structured parking that have achieved urban level densities of 60 to 80 units per acre. However, with rents still averaging below $2 per square foot, these projects were feasible only with the use of incentives to address a financing gap. This is also true of the peer cities that were reviewed in the study. Nashville, Kansas City, Fort Worth and Omaha, all with growing downtown housing fueled by younger knowledge-based workers and a strong economy, also have used TIF to incentivize urban density housing projects.

The tipping point is coming for Oklahoma City. While incentives are still necessary to facilitate the development of high-quality housing, demand will continue to grow over the next decade, our economy will continue to thrive and the market will adjust where these subsidies are not required. Our investment in MAPS has transformed downtown’s vitality: downtown streetscape and arts, Core to Shore, Oklahoma City Boulevard, Scissortail Park and the Oklahoma City Streetcar all have made downtown living a viable and highly desired lifestyle.

Kenton Tsoodle is the president of The Alliance for Economic Development of Oklahoma City.

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