I like it. I see nothing wrong here. Doesn't mean I'm packing my bags for my new future home.

This project will be successful if it can provide economical townhomes (below 200K) and tax abatements. Not sure if the city is going to step up for that, but that is the for-sale niche that this project can successfully target.

Hard to get a decent new townhome for 200K in OKC. You can do this in most Midwestern cities (Chicago, Cincy, Columbus, Cleveland, Buffalo, St. Louis, Louisville, Detroit, and Pittsburgh all provide nearly citywide tax abatement).

I like it. I see nothing wrong here. Doesn't mean I'm packing my bags for my new future home.

This project will be successful if it can provide economical townhomes (below 200K) and tax abatements. Not sure if the city is going to step up for that, but that is the for-sale niche that this project can successfully target.

Hard to get a decent new townhome for 200K in OKC. You can do this in most Midwestern cities (Chicago, Cincy, Columbus, Cleveland, Buffalo, St. Louis, Louisville, Detroit, and Pittsburgh all provide nearly citywide tax abatement).

Since when did you turn into Mr. Positive, or, rather, what's her name? :)

nm

Hard to get a decent new townhome for 200K in OKC. You can do this in most Midwestern cities (Chicago, Cincy, Columbus, Cleveland, Buffalo, St. Louis, Louisville, Detroit, and Pittsburgh all provide nearly citywide tax abatement).

I agree, but to be fair when those cities were built, they were built with street after street of rowhouses. I am not sure OKC ever had them, even prior to urban renewal because that isn't how this city was built. I could be wrong though.

Anyways, I am glad to see more townhomes being built.

The facade was redesigned and the number of units slightly decreased. A SPUD application has been filed and should be going before the planning commission in a few months.


12512

Just noticed on the south side of 10th and about McKinley,it looks to be one of those modern style houses being constructed. apparently they've run out of cheap land in SoSa

Oh! And this one... any updates on this?

Dirt being moved on Douglas and 10th. Any other news on this?

The City has issued an RFP for the 3 acres of vacant land along 10th west of Classen that was left over after they cleared out dozens of houses for a street widening project. This is at the very southern edge of the Classen Ten Penn neighborhood.

The RFP responses are due back June 30th and they will be designating the conditional developer(s) in September.

They hope for housing buy will accept mixed use; they also designate structures should be at least 2 stories


http://www.okctalk.com/attachments/development-buildings/10722d1430666275-10th-street-rfp-10thrfpb.jpg


Greetings,

Drove by this area a few days ago and saw tract 1 through 3 being cleared. Does anyone have an update from the developer?

Thanks!

Kevin

An update here would be nice.

Based on City Council records, Venice Properties (Dodson) purchased the property on July 31st, 2017 for $56,000 or $0.43/sf. The Purchase and Redevelopment Agreement (https://agenda.okc.gov/sirepub/cache/2/u3umbrjs4sk1lr55fwfxep55/371609502032018010712983.PDF) indicated as follows:

Phase 1: Tracts A & B to begin construction 6 months from closing, (7/31/2017) so right about now. Phase 1 is to be completed 18 months from the closing of construction financing, and cannot be extended to longer than 24 months. The County Clerk shows no records of a mortgage on either of those tracts yet.

Phase 2: Tracts C & D to begin 6 months after completion of Phase 1, so before 7/31/2020. Phase 2 is to be completed 18 months from the closing of construction financing, and cannot be extended to longer than 24 months as well. As far as the timeline is concerned, we are looking at a total completion around August of 2022.

A minimum of 10% of the units are required to be "lower income".

No building permit has been filed that I can find; however, a permit was filed for the dirt work on 1/10/2018 (SWL-2018-00026 & 00027).

Work starts on mixed-use project on NW 10th near Western (http://www.okctalk.com/content.php?r=465-Work-starts-on-mixed-use-project-on-NW-10th-near-Western)

When the City of Oklahoma City widened NW 10th between Western and Penn, it bought a wide swath of homes along the north side of the street and then was left with remaining land that was odd and relatively shallow.


http://www.okctalk.com/images/pete/10th021018a.jpg


The city issued an RFP in 2015 with development restrictions and certain design constraints.

One acceptable bid was received from Dodson Custom Homes (doing business as Venice Properties) proposing a mixed-use project consisting of apartments, condominiums and first-level retail space. Dodson builds in new home communities in Edmond, Yukon, Oakdale and far north Oklahoma City. The company has also renovated older homes on the near northwest and northeast areas.


http://www.okctalk.com/images/pete/10th021018z.jpg


In June of 2017 the city sold the 3 acres on four separate parcels to Dodson for $56,000 and the two parties entered into a redevelopment agreement.

The agreement stipulates the property will be developed in two phases. The first, which has just commenced, must be completed by the end of 2018 and involves Tracts A&B, the easternmost parcels of the 4.

Tract A will include 12 apartments above 6 retail spaces. Tract B will be 9 for-sale townhomes.


http://www.okctalk.com/images/pete/10th021018b.jpg


The second phase will included another 9 townhouses on Tract C and while plans for Tract D – the largest – are still preliminary, the current plan calls for 24 apartments over 21 retail spaces.


http://www.okctalk.com/images/pete/10th021018c.jpg


The entire development will be two levels. Originally Dodson had proposed 3 stories with elevators but later scaled back.

As part of the redevelopment agreement, Dodson has agreed to reserve at least 10% of the total residential units – rented or sold – for the income eligible. The threshold being households that earn no more than 80% of the Area Median Income based on household size.

Dirt work has commenced on Tracts A and B. Pricing will be set at a later date.

This development is at the southern edge of the Classen 10 Penn neighborhood which is seeing a resurgence with many renovated homes due it's excellent location and popularity of the adjacent Plaza District on NW 16th.


http://www.okctalk.com/images/pete/10th021018d.jpg

Do you know if closing Brauer and creating the pocket park is part of Phase 1 or Phase 2? I'm glad to hear that they're keeping the small retail spaces. They had proposed leasing the entire ground floor to one tenant which would have completely changed the uses and impact of the development.

Do you know if closing Brauer and creating the pocket park is part of Phase 1 or Phase 2? I'm glad to hear that they're keeping the small retail spaces. They had proposed leasing the entire ground floor to one tenant which would have completely changed the uses and impact of the development.

I believe the Bauer project would be part of Phase II.

Talked with them today. They are still adjusting the plans, but are aiming for low $200's per foot for the townhomes.

Talked with them today. They are still adjusting the plans, but are aiming for low $200's per foot for the townhomes.

Wow! Maybe there’s a market for that price point on this stretch of 10th but I’m not seeing it. Seeing how they were practically given the land by OCURA I would have guessed prices being mid 100s per foot. Unless they are having to set aside a certain amount of units for low income buyers, which might force them to get more out of the “free market” units.

Wow! Maybe there’s a market for that price point on this stretch of 10th but I’m not seeing it. Seeing how they were practically given the land by OCURA I would have guessed prices being mid 100s per foot. Unless they are having to set aside a certain amount of units for low income buyers, which might force them to get more out of the “free market” units.

Pete's article says 10% of the units are reserved for "income eligible."

This project has completely halted.

https://tenpenn.weebly.com/

http://www.okctalk.com/images/pete/tenpenn061018.jpg


http://www.okctalk.com/images/pete/tenpenn061018b.jpg

This project has completely halted.

https://tenpenn.weebly.com/

http://www.okctalk.com/images/pete/tenpenn061018.jpg


http://www.okctalk.com/images/pete/tenpenn061018b.jpg

I followed the link but didn't see any additional information. Any idea why this has been put on hold?

Probably trying to get financing.

Yeah, I talked to Aaron Dodson about this years ago and it was speculative then. I would assume most banks would require a certain percentage sold or leased before following through with financing.

Also, Aaron has a lot of irons in the fire with two residential developments in Covell Valley and Thunder Canyon as well as homes for sale in seven or more communities at prices ranging from the low $200's to close to $1 million. That's a pretty big price range for a homebuilder. Maybe once he sells more of the lots out of CV and TC, he can afford more equity for development on 10th street. To be honest, I was surprised it started as early as it did. I thought it would take years more for him to restructure to make him more lendable or raise equity for the project.

What kind of contract did he sign with the city in return for the free land? Is there a required completion date?

Nevermind, I see the answer here. What will happen if Dodson doesn't meet the terms of the agreement?



In June of 2017 the city sold the 3 acres on four separate parcels to Dodson for $56,000 and the two parties entered into a redevelopment agreement.

The agreement stipulates the property will be developed in two phases. The first, which has just commenced, must be completed by the end of 2018 and involves Tracts A&B, the easternmost parcels of the 4.

Tract A will include 12 apartments above 6 retail spaces. Tract B will be 9 for-sale townhomes.

Nevermind, I see the answer here. What will happen if Dodson doesn't meet the terms of the agreement?

They will give him an extension -- they always do, and sometimes more than one.

If they run out of patience with him, he would likely have to return the property to the City.

Any update on this land?

This whole project is dead as a doornail.

Not sure what the next steps may be.

Doesn't OCURA have the right in the redevelopment agreement to take the property back and reissue the RFP?

Doesn't OCURA have the right in the redevelopment agreement to take the property back and reissue the RFP?

I believe so but I have no idea where this currently stands.

I'm sure they are giving the developer a ton of rope since they were the only ones to respond to the RFP.

I believe so but I have no idea where this currently stands.

I'm sure they are giving the developer a ton of rope since they were the only ones to respond to the RFP.

if i remember correctly for some reason the city staff did this rfp outside of ocura (which i think was there first try at this type of thing)