Condos and Retail

[Nuclear_2525]

There was a story in the Daily a couple days ago about a new retail center with 230 condos or something like that. Going to be on Coltrane. It said something about being close to UCO or OCU...

I can't find the story cause I am not an archive subscriber.

Does anyone remember this story or have anymore information about it???

[onemoreokie]

I know there is a sign for a large looking condo development on 2nd Street just east of Bryant on the south side of the road. Just what the area needs most, more traffic.

[Nuclear_2525]

Was there a picture of the development on the sign? I'm just wondering what this is going to be like. Some of the Condo developments I have seen with around 200 units have been up to 30 stories; some have just been 3-4 stories...

[onemoreokie]

Yes there is a sign with an artist rendition. It just down and across the street from the new custard stand. Looks like they are moving dirt already.

[TheImmortal]

Construction begins on Edmond project

By Ashley Romano
The Oklahoman

EDMOND - Developers started construction Friday on The Falls, a mixed-use development on Vista Lane at Coltrane Road less than 2 miles west of Interstate 35.
Edmond-based Oxford Development will construct 200 condominiums, a 120,000-square-foot shopping center and office space.

The project will be north of Oxford Oaks Apartments on E Second Street.

Work began with a small ceremony Friday morning.

The condos will be built first, followed by the commercial development, said Toni Weinmeister of the Edmond Economic Development Authority.

Experts said demand for condos seems to be leveling off nationally, but Weinmeister said local property market reports show Edmond with less than a 6 percent vacancy rate.

Demand for retail space also is strong, she said, so the city should have little problem absorbing another large shopping center.

"Our median income shows ... that we can afford to shop at retail establishments," Weinmeister said, referring to Edmond's higher-than average household income.

She said The Falls is in an ideal location because of easy access to establishments like the University of Central Oklahoma, about 1 mile west, and because I-35 is so close.

"They've done their homework," Weinmeister said of the developer.

The project cost was not immediately available.

[TheImmortal]

Construction begins on The Falls

By Tricia Pemberton
The Oklahoman

EDMOND - Class A office space on par with Gaillardia and retail in step with Spring Creek Plaza provided the vision for one of Edmond's newest shopping centers -- The Falls at 2300 E Second St.

Ground was broken earlier this month on the 200-unit The Falls condominiums -- part of the $40 million development -- but construction has yet to start on the 127,000-square-foot office and retail segment.

Office will outweigh retail in the center with 73,000-square-feet and 54,000-square-feet devoted, respectively.

This is a blessing for a city where premium office space is snapped up almost as it's built, said Janet Yowell, Edmond's economic development director.

Developers promise the center will enhance the area between the University of Central Oklahoma and Interstate 35.

"I live near the property. My children go to nearby schools. I just wanted to beautify this area," said developer Bryan Stinson of Oxford Development Corp. Inc.

Stinson is developing the project in partnership with Derek Swann and leasing agent Ed Martin with NAI Sullivan Group.

Martin said the mixed-use development will be upscale, using much more glass than is normally seen in Edmond, including an outdoor glass elevator.

And true to its name, the center will have waterfalls -- three of them -- and a resulting stream that will wind its way beneath the sidewalks and between the buildings.

Martin said the team will be particular about the tenant mix.

"We'll be near the hospital, so we would like to see some medical businesses. We've also gotten some interest from several large-box retail tenants in northwest Oklahoma City and Dallas. And Edmond is getting lots of national attention," Martin said.

Space will lease for between $18 and $21 a square foot, a rate Martin feels he can justify with surrounding retail and area traffic counts.

Martin said national tenants want to see traffic counts of at least 50,000 cars a day, and the intersection of Second and Bryant has a bit more than that with 54,759, according to the city of Edmond.

With Edmond's growth to the east and northeast, he sees the area as an ideal place for more upscale housing, offices and retail.

The condominiums, leased by Cathie VanHoose with Re/Max Preferred Properties, promise to be equally upscale -- going for $157,500.

Each three-story condominium is outfitted with hardwood floors, stainless steel appliances, granite counter tops, fireplaces and private balconies. And each comes with a frontload washer and dryer and a 42-inch plasma screen television.

The property also will have a fitness center, clubhouse, tennis courts, a walking/jogging trail, two ponds, a swimming pool and, of course, a waterfall.

Stinford said it wasn't hard to get support for The Falls.

"I just had a great idea and it wasn't hard to get people together and get things started," he said.

Stinford said he has several developments planned for Edmond as well.

[Nuclear_2525]

So this isn't going to have a condo tower, just a bunch of 3 story buildings...too bad

[jbrown84]

Did you really expect a tower in Edmond when we can't even get one downtown?

I've seen the picture on the sign. They look nice. 3-4 stories and all brick as opposed to these siding apartments that are popping up everywhere.

[Nuclear_2525]

you never know...honestly wouldn't surprise me...