2014 is panning out to be an even better year for OKC! Looking forward to seeing this part of the Midtown/SoSA neighborhood continue to be developed. This project has been long awaited.

Dirt!!!!!!!!!!!!!!!!! Now we're cooking.

A little progress at the site (thanks to Metro):

http://www.okctalk.com/images/pete/lisbon031814.jpg

A little progress at the site (thanks to Metro):

http://www.okctalk.com/images/pete/lisbon031814.jpg

That is one FANCY... what is that? The base of a fence?

In all seriousness, I can't wait to see how these turn out. If I move back to OKC in the next couple of years (strong possibility) I will be looking at something very very similar to this.

They still have a few units left and will be starting another similar project in the near future, same general area.

Just found out a friend of mine has already been approved for financing to buy one of these. They are just waiting for them to be built. Pretty cool.

I got to spend some time with James while I was out in California. He is working on the final touches of this project. The finishes and hardware will be simply superior to any other for sale project near downtown. He has the right project manager as well. Someone who understands how important the details are. This project will simply be superior.

I got to spend some time with James while I was out in California. He is working on the final touches of this project. The finishes and hardware will be simply superior to any other for sale project near downtown. He has the right project manager as well. Someone who understands how important the details are. This project will simply be superior.

Did James happen to say if it will ever actually be constructed?

I kid, I kid!

Just happened to be in the neighborhoodhttp://img.tapatalk.com/d/14/04/25/2ygu5uju.jpghttp://img.tapatalk.com/d/14/04/25/4a8eja5u.jpg


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The site was leveled and cleared months ago. Construction fence went up. And then...nothing. For months.

Until this morning when I saw dozens of workers laying out framing for the foundation!!!

Yeah, there was some construction delay which was finally resolved.

They should start to move pretty quickly now.

As predicted, work has started!
http://img.tapatalk.com/d/14/05/15/7e3e9e4u.jpg


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Getting busy:

https://fbcdn-sphotos-d-a.akamaihd.net/hphotos-ak-frc3/t1.0-9/10298913_701070016622673_8390176205207692330_n.jpg

Drove by last night and it looked like they had all the forms set, just need to clear some space out and wait for things to dry out before pouring the footings.

Cool photo from their Facebook page:

https://fbcdn-sphotos-c-a.akamaihd.net/hphotos-ak-xpa1/v/t1.0-9/10409639_711853995544275_2164371237023718812_n.jpg ?oh=4cbce8ec61ebc041daf8a30be0d40a9c&oe=53F5564E&__gda__=1409283062_4c2ce7b1a604fa7158967b93355c5f4 d

Making progress:

http://www.okctalk.com/images/pete/lisbon062314.jpg

This project is moving really really slow. I go by here regularly and what you are looking at was basically done in about 5 work days spread out over the last 6 weeks. Make that 8 work days spread out over the last 5 months if you include the dirt work.

Almost any particular day you go by and there are no workers present. You will see a crew work one day, make some progress, and then it lies abandoned for another week or so. Stark contrast to the Edge, where there are workers there 6 days a week.

The only thing that has changed between the above two pictures is that the wood was put up on top of the concrete foundations. This was done in a single day. So make that one day of work betwwn 6/4 and 6/23.

Casually browsing their social media feeds, they are pinning the progress on the weather thus far.

Yes, you can see the water standing in that photo.

You really do need the weather to cooperate at the foundation stage.

This project is moving really really slow. I go by here regularly and what you are looking at was basically done in about 5 work days spread out over the last 6 weeks. Make that 8 work days spread out over the last 5 months if you include the dirt work.

Almost any particular day you go by and there are no workers present. You will see a crew work one day, make some progress, and then it lies abandoned for another week or so. Stark contrast to the Edge, where there are workers there 6 days a week.

The only thing that has changed between the above two pictures is that the wood was put up on top of the concrete foundations. This was done in a single day. So make that one day of work betwwn 6/4 and 6/23.

Yes it's quite the contrast.

One is $34,000,000, the other $1,250,000.

One has 252 units, the other has 7 units.

One is for rent, one is for sale.

One had the foundation poured during a drought, the other was just starting to get going when the weather pattern changed.

Your point?

Yes it's quite the contrast.

One is $34,000,000, the other $1,250,000.

One has 252 units, the other has 7 units.

One is for rent, one is for sale.

One had the foundation poured during a drought, the other was just starting to get going when the weather pattern changed.

Your point?

Ziiiiiiing!!

Casually browsing their social media feeds, they are pinning the progress on the weather thus far.


Yes, you can see the water standing in that photo.

You really do need the weather to cooperate at the foundation stage.

True, but this project sat for months with hardly any rain at times, I think there were other delays at play.

True, but this project sat for months with hardly any rain at times, I think there were other delays at play.

They had some building permit issues that have since been resolved.

From personal experience, many appraisers are not up to speed on OKC's downtown market. There is a wide range of pricing and housing formats and some have trouble reconciling the comps. Real estate agents can probably easily justify the listing prices as they understand the market a little better, but at the end of the day, the important number is the one that comes from the financial institution to determine the collateral basis. I'd suggest getting that one right before pulling the trigger.

I would talk to Shelley Pruitt. She does a lot of the downtown financing and she's very creative. We bought in 2009, when there were no comps and lenders wanted a 30% down payment. Our other house hadn't closed, and Shelley worked very hard to come up with financing that worked while we waited to close on our current home.

While we like to watch projects go up, really only the developer and prospective homeowners have any right to complain about pace of a project

I would talk to Shelley Pruitt. She does a lot of the downtown financing and she's very creative. We bought in 2009, when there were no comps and lenders wanted a 30% down payment. Our other house hadn't closed, and Shelley worked very hard to come up with financing that worked while we waited to close on our current home.

Shelley rocks.

Installing plumbing lines today.

are these completely sold out?

There was a tweet yesterday that indicated that there was one for sale. It was 3 stories with a rooftop deck selling for about $450,000, I believe.

so that's the only one left huh?

so that's the only one left huh?

I think there are a few more that are unsold.

There are a total of seven units and three were sold in the pre-sale.

Then, the remainder were taken off the market and are now being released periodically and one at a time.

Not sure if they have sold more than the original three.

https://farm3.staticflickr.com/2929/14551638369_5baa337b36_b.jpg (https://flic.kr/p/oaSX7H)
Lisbon Lofts (https://flic.kr/p/oaSX7H) by lazio85 (https://www.flickr.com/people//), on Flickr

Big fan of this project but WTF with all the secrecy? There are only 7 units. Just put the prices on the units and sell them, then move on to the next project. Why is that such a big deal?

I visited the project website and found it to be an excruciatingly frustrating experience.

Do I need a secret handshake to find out how much the units are selling for?

I find this approach to marketing to be extremely weird and manipulative.

Years ago, long before the Flaming Lips were known outside tiny Indie circles, I had a conversation with Wayne Coyne and he explained to me how to tease an audience. Oddly, this marketing approach reminds me of that conversation.

As someone who genuinely wants to buy something downtown, I find this game tiresome. This is a bit like a used car dealer putting "call for price" on their website instead of pricing their cars.

I wish the developer every success but I have no interest in being manipulated this way.

^^^^^^^^

Did the Lisbon Lofts website involve confetti, balloons, giant hands or depictions of lady parts?

big fan of this project but wtf with all the secrecy? There are only 7 units. Just put the prices on the units and sell them, then move on to the next project. Why is that such a big deal?

I visited the project website and found it to be an excruciatingly frustrating experience.

Do i need a secret handshake to find out how much the units are selling for?

I find this approach to marketing to be extremely weird and manipulative.

Years ago, long before the flaming lips were known outside tiny indie circles, i had a conversation with wayne coyne and he explained to me how to tease an audience. Oddly, this marketing approach reminds me of that conversation.

As someone who genuinely wants to buy something downtown, i find this game tiresome. This is a bit like a used car dealer putting "call for price" on their website instead of pricing their cars.

I wish the developer every success but i have no interest in being manipulated this way.

nm

I agree that is an odd way of trying to market these.

Having countdowns until release of specific unit bidding is very goofy.

I have no idea if any are available still, following their social medias, I feel like I need a decoder ring.

Surprised about the sticks

Funny that I found these posts. Of all the places, I ended up at this forum to find out about downtown condos for sale.

Surprised about the sticks

Same here - very surprised...

^^^^^^^^

did the lisbon lofts website involve confetti, balloons, giant hands or depictions of lady parts?

lol

http://tapatalk.imageshack.com/v2/14/08/18/c4a7544e0c7da0c7c975593504aa52ce.jpg


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I think that quite a bit about the approach has to do with making sure that St. Anthony's is satisfied first and foremost. Their workforce was offered these units first. It is my understanding that they have also been something of a recruitment and retention tool for some of the docs.

The other element is that there is nothing like them. Little if anything for sale downtown at these price points. The developer is also incintivized to demonstrate this as a financial success so that there is a track record to encourage partnerships with future projects.

This is a boutique project unlike any other downtown. There is no competition with it. The developer is trying to make sure that it is built right with exceptional quality whilst establishing program precedents to continue forward with more endeavors.

I think that quite a bit about the approach has to do with making sure that St. Anthony's is satisfied first and foremost. Their workforce was offered these units first. It is my understanding that they have also been something of a recruitment and retention tool for some of the docs.

The other element is that there is nothing like them. Little if anything for sale downtown at these price points. The developer is also incintivized to demonstrate this as a financial success so that there is a track record to encourage partnerships with future projects.

This is a boutique project unlike any other downtown. There is no competition with it. The developer is trying to make sure that it is built right with exceptional quality whilst establishing program precedents to continue forward with more endeavors.

There are so many lots scattered through midtown that could accommodate developments of this size and type, I really hope they pop up all over.

St. Anthony still owns a ton of property all around their hospital and with their latest expansion, they will be pretty much done with their own construction.

So now, they have to figure out how to develop the remainder and I know they are very interested to see how Mode does with Lisbon Lofts.

I know they want to do much more but are no doubt taking a wait and see attitude; this first project should provide lots of great feedback.

Progress...

Instagram (http://instagram.com/p/tBwUNNM8Tk/)

Just posted this on Facebook; view from one of the rooftop decks:

https://scontent-b-dfw.xx.fbcdn.net/hphotos-xfp1/v/t1.0-9/63986_797504490312558_6038293385072769848_n.jpg?oh =bf22d300c9dbe37307c2e216eed5cd3c&oe=54D2F3CF

Pete, can you load up a rendering from that altitude and angle with the new towers? I don't believe we have seen a rendering from this angle.

I think that is the "prime" unit in the complex, best view and one of the larger ones.

Half a million price tag and about an hour left for offers.

I had posted this one, which is pretty close:

http://www.okctalk.com/images/pete/ogecenter5.jpg

I had posted this one, which is pretty close:

http://www.okctalk.com/images/pete/ogecenter5.jpg

What is the gray building in between the Devon tower and Clayco project? Preftakes tower?

What is the gray building in between the Devon tower and Clayco project? Preftakes tower?

Yes.

I commute by this daily. This is up there with the slowest construction projects in OKC. Right up there with Park Place and the Dowell Center garage addition. There are always one or two dudes working on it (but never more than that), but nothing ever visibly progresses.

I may have missed it/overlooked it... but who was the architect for this project? I really like the design of these!

I commute by this daily. This is up there with the slowest construction projects in OKC. Right up there with Park Place and the Dowell Center garage addition. There are always one or two dudes working on it (but never more than that), but nothing ever visibly progresses.


I may have missed it/overlooked it... but who was the architect for this project? I really like the design of these!

Yes, similar to how it too years of delays just to start the project, originally this was to have been completed years ago, but at least it is within reality now.

Mode Development, James Ellison is developer.

I don't go by often, but they certainly look a lot different now than they did the last time I went by. The only people who should care about how fast or slowly things are progressing are those who have committed to buy, those who are thinking of buying, and neighbors inconvenienced by the construction. The rest of us don't really have a right to complain about construction speed.

I don't go by often, but they certainly look a lot different now than they did the last time I went by. The only people who should care about how fast or slowly things are progressing are those who have committed to buy, those who are thinking of buying, and neighbors inconvenienced by the construction. The rest of us don't really have a right to complain about construction speed.

Who's complaining? I was just observing that this is the 2nd slowest current construction project in the metro (after Parkside). Note the lack of complaining.

I see they have released final 3 untis with bids due March 11. What are the thoughts about this project.

Also one of the houses on 8th went online (MLS) today. $550k for 1950 ft.

Also one of the houses on 8th went online (MLS) today. $550k for 1950 ft.

That's a joke, right? The photos are awful and it shows the interior isn't even finished...

That's a joke, right? The photos are awful and it shows the interior isn't even finished...

I guess you can have your pick of finishes! At about 285 a foot.