^

There is tons of renovation and new housing development in the Classen-10-Penn area and most of it is pretty reasonable. Same with Jefferson Park and north Mesta Park. Tons of neighborhoods on either side of Classen, too.

Here is a nicely restored house in C10P for $230K: https://www.zillow.com/homedetails/1129-N-Mckinley-Ave-Oklahoma-City-OK-73106/21858149_zpid/



You are never going to get really nice, new construction downtown for a reasonable price, either for purchase or rent. That ship has long since sailed.

If you are willing to be a mile or 2 or 3 away and/or not have everything already done, then there are loads of decent options.

^

There is tons of renovation and new housing development in the Classen-10-Penn area and most of it is pretty reasonable. Same with Jefferson Park and north Mesta Park. Tons of neighborhoods on either side of Classen, too.

Here is a nicely restored house in C10P for $230K: https://www.zillow.com/homedetails/1129-N-Mckinley-Ave-Oklahoma-City-OK-73106/21858149_zpid/



You are never going to get really nice, new construction downtown for a reasonable price, either for purchase or rent. That ship has long since sailed.

If you are willing to be a mile or 2 or 3 away and/or not have everything already done, then there are loads of decent options.

I'm not really talking about new construction downtown. What I'm saying is, you are probably going to get a lot more buyers for properties like the ones you mentioned than you are something like Left Frame Lofts. There's no reason you couldn't construct a row of townhomes on a vacant lot a mile or so from downtown, and keep the prices competitive with other areas of OKC.

^

And that is absolutely happening.


I lived in SoSA when I first moved back and liked it, but no way were the prices downtown worth the cost to me when I could buy a great, completely remodeled home just a few minutes away for less than $250K. And my house sits on 1/3rd an acre overlooking a city park, 2-car garage, etc.. Can be anywhere in the core in under 10 minutes.

There are a limited number of people that are going to pay 2 and 3X the cost of comparable housing just 1-3 miles away; or live farther out and just make the easy drive into the core.

Personally, I didn't find that many benefits to living right downtown because you still had to drive to work, the grocery store, to meetings, to meet friends, etc. It was nice to be able to walk places but I still walk all over downtown, I just start those trips with a short and easy car ride.

^

And that is absolutely happening.


I lived in SoSA when I first moved back and liked it, but no way were the prices downtown worth the cost to me when I could buy a great, completely remodeled home just a few minutes away for less than $250K. And my house sits on 1/3rd an acre overlooking a city park, 2-car garage, etc.. Can be anywhere in the core in under 10 minutes.

There are a limited number of people that are going to pay 2 and 3X the cost of comparable housing just 1-3 miles away; or live farther out and just make the easy drive into the core.

Personally, I didn't find that many benefits to living right downtown because you still had to drive to work, the grocery store, to meetings, to meet friends, etc. It was nice to be able to walk places but I still walk all over downtown, I just start those trips with a short and easy car ride.


^

And that is absolutely happening.


I lived in SoSA when I first moved back and liked it, but no way were the prices downtown worth the cost to me when I could buy a great, completely remodeled home just a few minutes away for less than $250K. And my house sits on 1/3rd an acre overlooking a city park, 2-car garage, etc.. Can be anywhere in the core in under 10 minutes.

There are a limited number of people that are going to pay 2 and 3X the cost of comparable housing just 1-3 miles away; or live farther out and just make the easy drive into the core.

Personally, I didn't find that many benefits to living right downtown because you still had to drive to work, the grocery store, to meetings, to meet friends, etc. It was nice to be able to walk places but I still walk all over downtown, I just start those trips with a short and easy car ride.

To elaborate on this: More people would be willing to spend $600k on a house if they could remove the $3k - $5k annual cost of owning a (second) car. That cost is the difference between a $400k mortgage and a $460k mortgage.

Pete, do you know anything else about this? I drive by this every couple of days and haven't seen any movement on it at all.

Pete, do you know anything else about this? I drive by this every couple of days and haven't seen any movement on it at all.

Yes the 'left alone lot' is getting long in the tooth. It can't be easy to make those interest payments.

Yes the 'left alone lot' is getting long in the tooth. It can't be easy to make those interest payments.

"Left Frame" has taken on a whole new meaning.

I'm sure this will be taken back by the lender then hopefully sold to a new developer who can complete the project.

This property is now for sale; $3.5 million for 6 unfinished units.

HTTP://www.okctalk.com/images/pete/leftframe0818121a.jpg

What a disaster

Oof. Well at least the materials aren't the type to decay quickly. Someone could scoop this up and make a killing on it for the right price.

The renderings made the brick facade look ugly, but I'll bet it would look better in reality. The overall design is very cool. Bringing the price down a little is probably warranted, but I think these will sell. Kind of reminds me of Urban 8 in downtown Tulsa.

At this price, each unit is almost $600,000 with LOTS of money to be spent just to basically finish it out. Good luck with those prices, with no other real amenities, and at this location.

It won't sell for half that amount.

Walking by the other day, I could have sworn there was progress on these lofts. Any update on what's going on here?

^

They have indeed re-started work:

http://www.okctalk.com/images/pete/leftframe012122a.jpg

HTTP://www.okctalk.com/images/pete/leftframe033122a.jpg

It’s like watching paint dry

sorry, man, paint dries faster

http://www.okctalk.com/images/pete/leftframe052922a.jpg

Was this the original design choice for the siding?

http://www.okctalk.com/images/pete/leftframe052922a.jpg

Post #18 has (I believe) the original renderings. Looks mostly the same as Pete's photo.

Seems odd the lack of windows on the west side to allow the late afternoon/evening light in

Seems odd the lack of windows on the west side to allow the late afternoon/evening light in

I feel ya, but man that western light can be brutal in a small dwelling.

I feel ya, but man that western light can be brutal in a small dwelling.
I agree but would think high end units like these would have the correct glass to reduce heat transfer. We have very large panels of glass that face east and they have many products (eight 4x8 windows stacked) out now to reduce heat transfer while still letting light in. I am guessing Devon and BancFirst are using something similar to reduce heat transfer.

However, if they aren't spending the money...it would be brutal.

I agree but would think high end units like these would have the correct glass to reduce heat transfer. We have very large panels of glass that face east and they have many products (eight 4x8 windows stacked) out now to reduce heat transfer while still letting light in. I am guessing Devon and BancFirst are using something similar to reduce heat transfer.

However, if they aren't spending the money...it would be brutal.

Agree totally in principle. However, it's not clear if these are high end or middle brow or what given the protracted construction time line. The price per square food would seemingly indicate high end.

HTTP://www.okctalk.com/images/pete/leftfram070422a.jpg

Is it just me or does there need to be more glass and a more open appearance?

^^ Not just you.

However, I've learned to wait until a project is complete before I start ringing alarm bells. Some projects seem like they are going to be great, and are somewhat disappointing once complete. Also, the opposite occurs.

I will take some photos of the east-facing side, which is really the front of this building.

LOL! What the heck happened between now and the original renders shown on page 1 of this thread? I mean obviously it changed hands, but the new owners took out all the windows? Looks like the main living rooms on the DT facing side have some nice windows, but man that street facing side looks ugly now. I guess they wanted to put in more soundproofing on that side?

LOL! What the heck happened between now and the original renders shown on page 1 of this thread? I mean obviously it changed hands, but the new owners took out all the windows? Looks like the main living rooms on the DT facing side have some nice windows, but man that street facing side looks ugly now. I guess they wanted to put in more soundproofing on that side?

It hasn't changed hands. They just stopped for a while.

OT, missed/cannot find the post RE: se corner o Memorial and n May?

OT, missed/cannot find the post RE: se corner o Memorial and n May?

Living Spaces (https://www.okctalk.com/showthread.php?t=46188)

Living Spaces (https://www.okctalk.com/showthread.php?t=46188)

Thanks!

HTTP://www.okctalk.com/images/pete/leftframe110622a.jpg

Pete, are they still planning commercial at the lower level?

They are planning to convert all the units to Air BnB's.

That's probably the best outcome for this project.

Like Sonder,m? That’d be a great group to manage these

They are planning to convert all the units to Air BnB's.

That's probably the best outcome for this project.

A great idea especially for Corporate Housing. I know we still lack a good amount for those who are working here for a short term.

Looks like on AirBNB the earliest check-in dates are February 2024. So about a year out from these finally being used.

EDIT: On second look, some of the units are available in May of 2023. So perhaps some of the units are close to done.

They have deferred their AirBnB zoning request and it looks like work has stopped once again:

http://www.okctalk.com/images/pete/leftframe041623a.jpg


http://www.okctalk.com/images/pete/leftframe041623b.jpg

These are now listed for sale on MLS. $775k to 790 in price ($530 a foot). No inside pics on what I saw. Listing description:

Step into the lap of luxury with this remarkable top-floor downtown condo that perfectly combines modern elegance with historic charm. Nestled in the vibrant Film Row District of Oklahoma City, this penthouse residence offers an unparalleled living experience. As you enter, you'll be greeted by the authentic character of this building, with original exposed brick walls that harken back to its storied past. These timeless features seamlessly blend with contemporary design elements to create a unique living space. One of the standout features is the series of balconies that beckon you to step outside and take in the breathtaking vistas of downtown OKC. Floor-to-ceiling windows frame the bustling cityscape and offer enchanting views of the OKC skyline. Notably, residents will relish some of the most spectacular views of the iconic Devon Tower and the stunning BOK Tower to the northeast. But that's not all! This exclusive condo building boasts a luxurious rooftop oasis exclusively for residents. Take the elevator to the top floor, where you'll find a sprawling rooftop deck reserved for the fortunate few who call this penthouse home. Here, you can relax, unwind, and soak in the stunning views of the city while enjoying the company of neighbors and friends. It's the perfect spot for evening cocktails, starlit gatherings, or the city's vibrant energy. Inside, the penthouse continues to impress with high-end interior finishes and top-of-the-line appliances. The open living floor plan, adorned with ten-foot ceilings, creates an inviting and spacious ambiance. The expansive use of glass enhances the natural light and connects the indoor and outdoor spaces seamlessly. This top-floor downtown condo represents the epitome of modern urban living, where sophistication meets convenience. Don't miss your chance to call this exquisite penthouse your home. Contact us today to schedule a private viewing and make this exceptional residence, complete with its rooftop oasis, yours!

^

They are also in the process of trying to obtain AirBnB status.

Is the primary reason, this project has been so hard because of the cost of building in this style or is it poor execution. Basically, was it primarily a bad concept for OKC at this point in history or was it poor execution?

Due to construction and land costs and the small amount of units, my opinion is that they price they have to charge is just too high for the market.

They will probably do well as AirBnB's.

Due to construction and land costs and the small amount of units, my opinion is that they price they have to charge is just too high for the market.

They will probably do well as AirBnB's.

Not to mention the lack of parking. There is one single car garage per unit that opens to the street

Interestingly enough they are now all temp off market. Hopefully to add interior pics

They are now back on the market (and having open house Sunday).

Are these completed externally? I keep thinking they are going to do something with all the raw concrete as paint or something to make it look less like 90% completed construction project

Not a realtor but I would think that you would have more than 7 pictures on a $780k listing. No pictures inside or even floorplan. Just outside generic photos. https://www.realtor.com/realestateandhomes-detail/631-W-California-Ave-300_Oklahoma-City_OK_73102_M91604-05092?from=srp-map

Thanks OKAtty for heads up. I am going to try and hit the open house tomorrow,

^They have some interior pics online now. Which can be accessed thru Jeepnokc’s link above.

That price makes no sense. You can buy at the Civic Condos for $260/sf as opposed to over $500/sf. Or 701 Hudson for $350/sf. Or the brownstones for $325/sf

That price makes no sense. You can buy at the Civic Condos for $260/sf as opposed to over $500/sf. Or 701 Hudson for $350/sf. Or the brownstones for $325/sf

And they are finished out. I know some people like the minimalist industrial look but these just look like unfinished apartments with the raw concrete and electrical in exposed conduit.

I like minimal design but this has me living in my garage if it had windows.

It is so weird if you look at the county assessor, it was deeded from Left Frame LLC to Left Frame Lofts in 2017 and then a Declaration of Unit Ownership Estate (I assume that is making it condos to sell) deeding to Left Frame Lofts in 2018 and then from Left Frame Lofts LLC to 631 Lofts LLC on 6/14/2023. BancCentral of Alva did the loan originally back in 2018 for $2.26MM with a modification in 2019 up to $3MM and release of mortgage in June of 2023, when it switched over to 631 Lofts LLC. That mortgage was from First Security Bank in the amount of $3.15MM. If they sold all of the condos for the prices they are asking, they would make $4.7MM. After paying off the $3.15MM mortgage, it would be closer to $1.5 and I would only assume about $500,000 in carrying costs. That would net them a million dollars.

I like minimal design but this has me living in my garage if it had windows.

Agree, a little TOO exposed for me, and looks like a garage with a sofa.

Wow, that price would be an insult. That isn’t minimalist, just minimal… and not done right.

Each unit says it has a 1 car garage. But the building has 5 garage doors [there may be one accessible from the alley?]. With one of them basically not having a curb-cut driveway. I like the units themselves, I would definitely finish it out with drywall as I think the urban warehouse style of exposed ducting and conduit is dated in 2023.

Each unit says it has a 1 car garage. But the building has 5 garage doors [there may be on accessible from the alley?]. With one of them basically not having a curb-cut driveway. I like the units themselves, I would definitely finish it out with drywall as I think the urban warehouse style of exposed ducting and conduit is dated in 2023.
Though I like the modern styles, I see a lot of it in OKC that is a cop out, just allowing developers to do less and charge more. When you see it done right, with style and quality, you know the difference. It’s like owning a fake Rolex when just done on the cheap.

Though I like the modern styles, I see a lot of it in OKC that is a cop out, just allowing developers to do less and charge more. When you see it done right, with style and quality, you know the difference. It’s like owning a fake Rolex when just done on the cheap.

My real estate partner and I were talking about this didn't seem well thought out. Little things like the picture with the tv mounted on the wall. Would not have taken much to tap into the conduit and put a box and plug behind the tv where you don't have the tv cord hanging down.

Surely this is a misprint? Are they really asking $450,000 for the whole thing now. Someone is taking a bath. I suspect it is only the bottom unit and they screwed up the listing.

https://www.loopnet.com/Listing/631-W-California-Ave-Oklahoma-City-OK/30041986/

My real estate partner and I were talking about this didn't seem well thought out. Little things like the picture with the tv mounted on the wall. Would not have taken much to tap into the conduit and put a box and plug behind the tv where you don't have the tv cord hanging down.

It would have served them well to have hired a top-notch staging crew for a space there. For some, it's difficult to see potential when all you see is concrete everywhere.