Is this moving forward?
Came to ask the same thing. I hope so, but this feels like some of her other projects that haven't advanced.

Is this moving forward?

yes

You guys have got to understand how long it takes Marva Ellard's projects. And I mean that in a good way. It's about historical preservation. It's absolutely not a quick ordeal, but rest assured, when this is done, it will be a gem.

I'm excited for this to happen! Everytime I go to the O Bar, this area is completely dark. The Elliot is gonna help too!

Any updates on the first phase of this project?

Any updates on the first phase of this project?

No, they are still in pre-sale mode.

Apparently pricing and initial drafts of contracts are now available for those who put refundable deposits down. Haven't heard firm pricing yet.

cheers

Apparently pricing and initial drafts of contracts are now available for those who put refundable deposits down. Haven't heard firm pricing yet.

cheers

I'll be interested to see the pricing. When I went to look at the plans, I was told they would be around $750k-$800k and would begin construction in October 2018.

I'll be interested to see the pricing. When I went to look at the plans, I was told they would be around $750k-$800k and would begin construction in October 2018.

When I inquired I was given a vague number of maybe close to 400/sq ft. This is on the high side of what I think is possible in the current market. That would put the larger townhomes in the $1M range, which is a stretch IMHO. In regards to the timing, I was also told they would break ground in mid to late 2018. Apparently the site work for this project has been a bit of challenge. They plan to relocate the power lines down Dewey to be underground and before this can be accomplished the city has to renovate the sewer line. I drove by this AM, and the city has begun that work! Hopefully we will see site work start in the very near future. I hope this project makes it. A lot will depend on the pricing. I know a couple of people with a refundable deposit on a unit, and pricing will be key in whether or not they sign a contract.

Cheers!

My understanding is they are marketing the condos at $405 per square foot.

http://www.okctalk.com/images/pete/dthousing030419.jpg

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.

My understanding is they are marketing the condos at $405 per square foot.
http://www.okctalk.com/images/pete/dthousing030419.jpg


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!

^

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.

^

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..

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).

drove by today and dirt is moving!

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

Beautiful shots

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

it is a full block away

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15793

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

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

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.

Ahhh, that would make sense. Thanks.

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.

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

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.

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.

15863

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To refresh our memory..
15892
15893

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I think midtown is become the most desirable downtown residential area, by far. It’s really filling in nicely. Boulevard is a great addition to help make these residential away more attractive option. Walking the neighborhood just feels good.

I agree...between Villa Teresa (a very exciting project) and the Boulevard construction, this area is looking so good!

It's by far the best situated of the districts, with tons of restaurants, bars and shopping.

You can easily walk (or bike or scooter or streetcar) to the CBD, Auto Alley and Uptown.


Unfortunately, there are still huge holes everywhere and it will take decades for infill to catch up. You really feel it when you live down there and walk a lot.

A flatiron-esque development on the EMSA lot would be incredible, but as Pete said, there are huge gaps that are more pressing.

It'd be really killer if The Elliott ever starts construction.

Unfortunately, there are still huge holes everywhere and it will take decades for infill to catch up. You really feel it when you live down there and walk a lot.

That's true, but simple projects like Boulevard really gobble up that feeling quickly. It isn't a majestic project, but totally changes the area. Strategic filling of some, not even all, lots can change the emptiness quickly. I think the biggest thing we can do is promote the medium size project with great street interaction in strategic areas that visually change the street level views.

Imagine another Boulevard type development on the MidTown property at 10th street across the street from DustBowl.

^

Yet, there are at least a dozen more holes with no current plans.

As I said, I lived down there and walking through every day is a very different experience than just driving. The general impression is that it's still pretty desolate.

^

Yet, there are at least a dozen more holes with no current plans.

As I said, I lived down there and walking through every day is a very different experience than just driving. The general impression is that it's still pretty desolate.

I'm sure. All I am saying is that there can be strategically located infill with good design that can really help. Since you are so familiar with it and walked it often you know where those places are and the types of projects that change perception. They don't all have to be $50 million developments. Again, look at the difference Boulevard makes and it isn't even that big.

It'd be really killer if The Elliott ever starts construction.

I was thinking the same thing.

It'd be really killer if The Elliott ever starts construction.
Also true!

I feel selfish suggesting this...because I have neither the time nor the bandwidth to be the one to create it...

but if someone else had the interest LOL...

What I think would be really interesting to see is a thread with a list of the 20-25 most sizable/visible vacant lots in the core north of the boulevard with a description of who owns each plot, maybe how they are zoned, if they are for sale, and what (if any) plans have ever been proposed for them. Kind of a checklist for future development that we could "tick off" like the playing cards of Sadaam's henchmen in the Iraq War.

By the way, I think the "Ace of Spades" would be the huge lot across 10th from Fassler Hall.

http://www.okctalk.com/images/pete/villateresa042520a.jpg

One of my favorite projects right now!

They are asking for almost $1 million in TIF money.

I know the deal with the Omni prohibited providing assistance to new downtown hotels, but now looking to see if there was a distance limit.

https://oklahoman.com/article/5661814/plans-detailed-for-villa-teresa-hotel

Here's the area where public hotel subsidies are prohibited as per the terms of the Omni deal; so this hotel would fall outside of that:


For 15 years after a certificate of occupancy is issued for the Hotel, public contribution or subsidy will be
prohibited for a hotel within the “no-subsidy zone”, generally bounded by Dean A. McGee to the north, Joe Carter Avenue and Russell M Perry Avenue to the east, I-40 to the south, and Lee Avenue to the west

Also, this is a site plan that was part of an investor package about a year ago.

Based on what is said in the article, the Phase 2 Schoolhouse Flats and Lowery House will now become part of the hotel in order to receive historic tax credits. They had previously been planned as condo conversions.

I was told the pool, restaurant and other amenities will also be available to the home buyers.

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This is in Oklahoma City, one of the most “conservative” cities.
Business blames government for everything and then runs to the public trough of giveaways - at every level of governance! But, it’s not the city’s “job” to do so many things that meet human needs. That’s an Oklahoma “conservative” to a “T.”

This is in Oklahoma City, one of the most “conservative” cities.
Business blames government for everything and then runs to the public trough of giveaways - at every level of governance! But, it’s not the city’s “job” to do so many things that meet human needs. That’s an Oklahoma “conservative” to a “T.”

The term 'conservative' has changed dramatically in its application in the last few decades.

It now usually pertains to social wedge issues, and has little to do with fiscal policy.

The term 'conservative' has changed dramatically in its application in the last few decades.

It now usually pertains to social wedge issues, and has little to do with fiscal policy.

I agree. Liberal and Conservative used to mean clear-cut economic points of view. Today, as you said, the attention (and labels) all go to, as you said, all of these issues that divide Americans socially and culturally. I was actually being more tongue in cheek than anything.

Since this is in a thread about hotels, do you know anything about the NW Holiday Inn Express being painted and reflagged as one of these Oyo hotels from India? Is Thompson still involved at all? Just doesn’t sound like a fit for him.

Since this is in a thread about hotels, do you know anything about the NW Holiday Inn Express being painted and reflagged as one of these Oyo hotels from India? Is Thompson still involved at all? Just doesn’t sound like a fit for him.

I thought I saw a big remodel permit go through a while back but now can't find it.

Let me dig into it.

What percentage of the overall build cost is that TIF amount?

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I really like this unique project!