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DoctorTaco
02-15-2017, 08:37 PM
Dirt is moving (I can see this site out my window). I'll post pics once it's slightly more interesting than dirt moving.

You're not the boss of what I find interesting.

_Kyle
02-15-2017, 10:37 PM
You're not the boss of what I find interesting.

daaaaammmnnnnnnnn

shawnw
02-16-2017, 02:10 PM
Doh! Well, here's a pic of the fence from Saturday... I haven't taken a pic of the moving dirt piles but I'll be sure to do that as immediately as feasible. I hope this meets your interesting criteria. :-P
13567

DoctorTaco
02-16-2017, 03:24 PM
Doh! Well, here's a pic of the fence from Saturday... I haven't taken a pic of the moving dirt piles but I'll be sure to do that as immediately as feasible. I hope this meets your interesting criteria. :-P
13567

I found this post quite interesting. Indeed.

shawnw
02-17-2017, 10:38 AM
And there you have it folks, actual dirt being moved on this very morning (that bulldozer was moving). Are you not entertained?

13569

dankrutka
02-17-2017, 11:15 AM
And there you have it folks, actual dirt being moved on this very morning (that bulldozer was moving). Are you not entertained?

13569

I like that pile of dirt, but why does OKC always settle? Dallas has piles of dirt way taller than this. OKC clearly has a loser mentality.

HangryHippo
02-17-2017, 11:18 AM
Is the space that used to be Allen's still a home?

Pete
02-17-2017, 11:20 AM
There are two condos directly to the north. One upstairs and one down.

_Kyle
02-17-2017, 11:37 AM
And there you have it folks, actual dirt being moved on this very morning (that bulldozer was moving). Are you not entertained?

13569
Can I have your balcony?

shawnw
02-17-2017, 11:51 AM
Yes, I'm moving to a different balcony at the end of the month, and this one will be up for grabs...

_Kyle
02-17-2017, 12:03 PM
yes, i'm moving to a different balcony at the end of the month, and this one will be up for grabs... ok

shawnw
03-29-2017, 05:07 PM
From yesterday's city council minutes:


$1.95 million in economic development funds allocated

The Council voted Tuesday to approve $1.95 million in economic development fund allocations, $1.5 million to the Southern Oaks Learning and Wellness Campus project in south Oklahoma City and $450,000 to a residential project in Midtown. The Midtown project will create 11 for-sale residential units at NW 6th Street and Hudson Avenue. The wellness project will create a campus that combines education and low-cost healthcare services and is part of a partnership between the City of Oklahoma City, Oklahoma City-County Health Department, Oklahoma City Public Schools, University of Central Oklahoma, and Oklahoma City Community College and the Metropolitan Library System.

Read the Midtown project agenda item (http://www.okc.gov/home/showdocument?id=6950).

onthestrip
03-29-2017, 06:23 PM
The city of OKC just buy a condo or something?

Spartan
03-29-2017, 08:18 PM
Amazing, nearly a $40,000 per unit direct subsidy from the city just for condos.

Hard to argue against it though with the historically soft condo market downtown, but hopefully they can get something going and pull back the subsidies once the market is established.

Pete
03-30-2017, 08:04 AM
The entire for sale market downtown right now is red-hot.

This is the problem with TIF... 1) Once you start giving it to developers, it's hard to decline subsequent applicants; and 2) you have this huge pot of money sitting there and everyone knows it.

onthestrip
03-30-2017, 09:07 AM
The entire for sale market downtown right now is red-hot.

This is the problem with TIF... 1) Once you start giving it to developers, it's hard to decline subsequent applicants; and 2) you have this huge pot of money sitting there and everyone knows it.

And you keep land prices artificially inflated.

David
03-30-2017, 09:13 AM
I can't say I was expecting this project to get any subsidy at all, and instead it got half a million? Could someone explain the economics involved, because it sounds like we just subsidized a bunch of rich people to live fancy.

Pete
03-30-2017, 09:19 AM
I can't say I was expecting this project to get any subsidy at all, and instead it got half a million? Could someone explain the economics involved, because it sounds like we just subsidized a bunch of rich people to live fancy.

Basically, developers go to the Alliance for Economic Development (which controls TIF funds) and tells them they have a 'funding gap' that needs to be filled. That they can't get their project financed without assistance.

Amazingly, that amount always is between 4 and 7% and almost always gets granted.

You can't blame the developers, as it's completely free money to them and almost every other housing project downtown has received similar grants.


Many would question why on earth we are still subsidizing downtown development after billions in public investment and obvious forward momentum. But there are still hundreds of millions of tax dollars being redirected to TIF and that will continue happening for at least another 25 years.

Spartan
03-30-2017, 07:17 PM
The frustrating thing is that it's not as if we're short on potential uses for a unique funding source like downtown ad valorem revenue. That's exactly how Seattle just financed a streetcar, and how Columbus is financing public parking garages all across the city.


The entire for sale market downtown right now is red-hot.

This is the problem with TIF... 1) Once you start giving it to developers, it's hard to decline subsequent applicants; and 2) you have this huge pot of money sitting there and everyone knows it.

The problem is that they're not getting projects that represent the next step up, which they should keep subsidizing, bc they won't raise the bar on what they will subsidize.

You're right that the for-sale market seems to be turning a corner, but man was it rough for the last two decades that I can recall. So many stalled projects, including The Factory, The Flatiron, and the Cotton Exchange, which would have really been great projects. Blair hit trouble with Block 42, the Maywood sales weren't too strong, a super cool concept, and then The Hill fiasco happened. Obviously the fact that the awful Hill townhouses became a hot commodity is saying a lot.

Pete
03-30-2017, 07:23 PM
^

A lot of the projects you mentioned were never feasible.

It's one thing to put a rendering out, it's another to actually have a workable business model and it's hard to believe 4-7% is the difference in something not being done at all, ever.

Spartan
03-30-2017, 08:05 PM
Well keep in mind also that cap rates in OKC have dropped from around 9 to 6-5 depending on a deal's NOI. That has to be the main reason that condos are feasible now.

The Factory was certainly never feasible. I think the other two should have worked, and would now. I think both the Flatiron and Cotton Exchange would still come in at the top of the market today.

OkieDave
03-30-2017, 09:39 PM
Basically, developers go to the Alliance for Economic Development (which controls TIF funds) and tells them they have a 'funding gap' that needs to be filled. That they can't get their project financed without assistance.

Amazingly, that amount always is between 4 and 7% and almost always gets granted.

You can't blame the developers, as it's completely free money to them and almost every other housing project downtown has received similar grants.


Many would question why on earth we are still subsidizing downtown development after billions in public investment and obvious forward momentum. But there are still hundreds of millions of tax dollars being redirected to TIF and that will continue happening for at least another 25 years.

Discussion is 3 minutes long and starts at 1:16:30. Councilman Shadid pulled the item to vote against. Pointed out that the Project Plan of TIF #2 has city priorities as a driving factor and that this project for 11 condos with price/sq ft approaching $400 (4th floor 2 bedroom at just over 1500 sq ft selling for $585,000) is really for the 0.1% and impacts very few Oklahoma Citians. "If there are 600,000 people in OKC are there more than 600 looking to spend almost $400/sq ft" for a downtown condo? He then expresses hope that the Alliance can focus their considerable talents on more "meaningful" projects.

https://www.youtube.com/watch?v=SySBPfMV-lI

Spartan
04-01-2017, 11:52 AM
I hope there are certainly more than just 600 people looking to spend $400/sf for a downtown condo, or else we can just quit now lol.

shawnw
05-30-2017, 11:08 AM
Going vertical

13871

Pete
05-30-2017, 11:10 AM
Yeah, was just going to post this:

http://www.okctalk.com/images/pete/711hudson052817.jpg

Pete
05-30-2017, 11:13 AM
Editing my previous post...

Of the 9 total units, their website shows 3 are reserved which leaves 6 available.

Pete
06-29-2017, 02:20 PM
http://www.okctalk.com/images/pete/hudson062917.jpg

Pete
07-23-2017, 12:19 PM
http://www.okctalk.com/images/pete/701072317.jpg

5alive
07-23-2017, 01:47 PM
Looking at the rendering on page one...is this building going to be some kind of stone...if so, a very exciting addition to the area.

Pete
08-14-2017, 08:02 AM
http://www.okctalk.com/images/pete/701081317.jpg

shawnw
08-14-2017, 09:38 AM
Meant to post this, disappointed the top floors are stick, thought the whole thing was going to be concrete for some reason.

shadfar
08-15-2017, 03:10 PM
thought the whole thing was going to be concrete for some reason.

I thought the same. if i'm paying these prices, i better not be able to hear the person above me ;-)

OKCisOK4me
08-15-2017, 07:56 PM
I thought the same. if i'm paying these prices, i better not be able to hear the person above me ;-)

Yep...for the sf prices...this is just another 'blah' project...

shawnw
09-07-2017, 10:54 AM
Didn't get a pic but they've started the 3rd floor

shawnw
09-07-2017, 10:55 AM
Oh, and they've finally put up barriers for pedestrians to get around the fence without being in a traffic lane.

riflesforwatie
09-07-2017, 11:01 AM
Oh, and they've finally put up barriers for pedestrians to get around the fence without being in a traffic lane.

Awesome

Pete
09-10-2017, 12:12 PM
http://www.okctalk.com/images/pete/701091017.jpg

shawnw
10-02-2017, 10:19 AM
Fourth story up, one more to go I think.

14150

shawnw
11-02-2017, 06:41 PM
14241

Topped out

HangryHippo
11-02-2017, 07:23 PM
14241

Topped out

I LOVE this project! I can't wait to see what else Brent Swift does.

Anonymous.
11-03-2017, 10:11 AM
I can hear the upstairs neighbors by just looking at that photo!

Pete
11-13-2017, 08:43 AM
http://www.okctalk.com/images/pete/701hudson111217.jpg

Pete
11-27-2017, 07:55 AM
http://www.okctalk.com/images/pete/701112617.jpg

Pete
12-17-2017, 12:56 PM
Bricks going up:

http://www.okctalk.com/images/pete/701121717.jpg

Pete
01-30-2018, 07:58 AM
http://www.okctalk.com/images/pete/701hudson012818.jpg

wsucougz
01-30-2018, 11:17 AM
I wouldn't mind living in that penthouse. Hope to see a lot more from Brent Swift & Co.

Pete
01-30-2018, 11:25 AM
Brent Swift does absolutely fantastic work.

I hope the new owners of the Walcourt are half a thorough and detail and quality oriented.

HangryHippo
01-30-2018, 11:54 AM
I was very disappointed that he sold the Walcourt.

But I hope Brent Swift does a lot more work downtown! His work is outstanding!

Ross MacLochness
01-30-2018, 11:57 AM
He sold the Walcourt?? :( Is the project still happening?

Hondo1
01-30-2018, 12:04 PM
Drove by the Walcourt yesterday. Nobody in sight. No activity at all.

Pete
01-30-2018, 12:07 PM
He sold the Walcourt?? :( Is the project still happening?

Yes, supposedly:

http://www.okctalk.com/showthread.php?t=25952&page=3&p=1017221#post1017221

Pete
02-12-2018, 09:08 AM
http://www.okctalk.com/images/pete/701021118.jpg

Pete
04-09-2018, 07:57 AM
http://www.okctalk.com/images/pete/701hudson040818.jpg

HangryHippo
04-09-2018, 08:03 AM
I love this project so much. I hope Brent does more projects downtown.

Pete
05-30-2018, 04:50 PM
They will be having an open house on Friday to coincide with H & 8th.

Sooner.Arch
06-21-2018, 10:25 AM
14701
Brent Swift just posted this on his Instagram.

Urbanized
06-21-2018, 10:31 AM
Nice!

Pete
06-21-2018, 11:05 AM
I LOVE his work.

Can't wait to see what he plans next and still bummed he sold the Walcourt.

BG918
06-21-2018, 02:47 PM
Brent Swift has been active in Norman for many years, good to see him taking on larger projects with the same attention to detail in OKC.

Anonymous.
06-28-2018, 10:38 AM
I was checking these units out online and never noticed that the purchase of the first floor unit includes the small commercial/retail spot, which is attached to the residential unit. That is pretty cool for someone doing a small business work/live situation.

BTW, there are still 6 units for sale:
The 1st floor unit
All three units on 2nd floor
1 unit on 3rd
1 unit on 4th

Which means the penthouse is sold.