Argon (formerly Chisholm Creek Apartments)

[Pete]

Cornerstone Development filed building permit applications last week for a 277-unit, $45 million luxury apartment complex as part of the larger Chisholm Creek project.

Cornerstone recently completed The Edge @ Midtown, another high-end rental project which quickly filled its 252 units shortly after opening. Cornerstone has several other apartment complexes in the Oklahoma City area and is currently under construction on the ambitious 250-unit Steelyard project in Bricktown.

The complex will feature 36 studios, 95 1-bedrooms, 136 2-bedrooms and 10 3-bedrooms as well as a clubhouse, virtual fitness training room, 24-hour fitness center, business center, community lounge with kitchen, granite countertops, full-size washers and dryers, resort style pool and hot tub, outdoor fireplaces, rooftop outdoor kitchen, and a private parking garage.

ADG of Oklahoma City is the architect; NE Construction of Lewisville, Texas the contractor. Work will start after the first of the year.

[bchris02]

What do you think of the architecture style?

[AP]

Reminds me of the Main Street parking garage a little.

[Pete]

It's got the same density and attached parking garage of the large downtown projects.

[bradh]

Possibly similar to these in my hometown outside of Houston. This is part of the larger La Centerra project that is similar to Chisholm Creek

The Grand at LaCenterra

[catch22]

Nice. I think that's very good density and layout considering the location. I wonder what these will price for?

[bchris02]

Out of curiosity, would families living in Chisholm Creek go to OKC schools or Edmond schools?

[SoonerFP]

That's in Edmond public schools. The south boundary line for Edmond's district is halfway between 122nd and Memorial.

[bchris02]

That's in Edmond public schools. The south boundary line for Edmond's district is halfway between 122nd and Memorial.

Cool.

I see this as being a huge hit for young families then who object to living downtown because of the schools yet still want to live in a faux urban environment.

[SoonerFP]

Cool.

I see this as being a huge hit for young families then who object to living downtown because of the schools yet still want to live in a faux urban environment.

I agree. I have lived in various apartments around that area in the past, and I love seeing developments like this that are more "urban" even if it's faux urban like you said. Just being walking distance from that new public market would be awesome if it does turn out like the Reading Terminal Market in Philly. I LOVE that place!

[Rover]

Faux urban? Is that the same as new urban? Or are you saying urban is exclusive to a central downtown location? It seems like we should support urban principals in our development regardless of where it is located. This is an infill area and is creating a much higher density than currently exists there, with great amenities.

[Urban Pioneer]

The perimeter asphalt parking and drive makes me think hotel. I like the architecture though. It will do well up there. There are plenty of young people who work in the area that this will be convenient for. I guess this really is OKC's first true 'Lifestyle Center'.

[Richard at Remax]

Just from looking at ariels it looks like that parking is just for the front office/entrance. the rest of the parking is in the garage in the SE corner. I don't think parking surrounds the whole thing.

[OkiePoke]

You listed 227 apartments, adding them up, looks like there are 277 units.

[OkiePoke]

Because I'm bored at work...

Estimated (basic) economics...

[Teo9969]

Because I'm bored at work...

Estimated (basic) economics...

100% occupancy rate is not a reasonable projection and what about interest on the note and maintenance/complex costs?

[OkiePoke]

Hence the word basic! haha.

Let's see what I can do in the next 30 minutes.

[OkiePoke]

No maintenance/complex cost...

This is as complicated as I'm going to get... Not my field... I'm an engineer by trade!

80% Occupancy
3% Increase in Rent

[adaniel]

I'm going to pull a Spartan here. The more I look at this the more I think this is a missed opportunity. Why not integrate the residential and retail components? If I am looking at this site plan correctly, there appears to be no connection to the actual main core of the center outside of a long hike across large parking lots. Doesn't strike me as very "urban."

Not a huge fan of the Shops At Legacy development in Plano, but I do thing one thing they got right is a pretty seamless blend of residential and retail, while giving the residents just enough space so they are not right on top of everything. As it stands now, this seems surprisingly isolated from everything.

This is probably one of one or two areas outside the core that could pull of having really high-end urban style apartments, but if they want to appeal to that type of renter (and their wallets), they have to do it right.

[Anonymous.]

45 mill huh? Dear developers, please bring more of this to downtown.

[bchris02]

I believe the core of the development is going to be mixed use, with residential above retail at street level.

This development represents a huge step forward for suburban development in OKC. I agree though, this would be better if they didn't have huge lots separating this complex from the core of the development.

I think this will be a huge success with those who don't want to live downtown because of the schools and/or perceived safety issues, and for those who would but would prefer a shorter commute to the office complexes off Memorial.

[Pete]

Building permit applications submitted today.

Should see dirt turning out there soon.

[Plutonic Panda]

Any detailed renderings?

[Pete]

Building permits have been issued and a construction trailer is due on site any time, if not already there.

Ground should start turning very soon.

[coop2773]

To the one that's not a fan of the Shops at Legacy in Plano, do you think there's a reason they have every major shop that will never come to OKC?