Cirrus

[Pete]

http://newsok.com/couple-remain-root...rticle/5569193

4-unit condo project near Red Andrews Park. Developers told me units will be 'market rate'.

[Plutonic Panda]

These will be right next to these?

http://www.okctalk.com/content.php?r...ed-for-Midtown

[Pete]

These will be right next to these?

http://www.okctalk.com/content.php?r...ed-for-Midtown

Yes, directly to the west.

[onthestrip]

Looks cool but if it is a $2 million project, they are going to have to fetch high prices to make it worth their while. At 2,000sf for each unit, $250 per square foot is just the break even price.

[Pete]

All the new downtown for-sale projects have been around $300 / SF.

[OKC_on_mines]

Is it feasible to presume that there isnt any chance we see for-sale housing downtown between $250-$300k? If OKC isn't on the level of Denver or Dallas then why is the for-sale housing so expensive? I honestly don't mean to criticize its just I don't get how these prices keep coming up.....maybe I'm missing something. Like how is the price relevant to the market?

[Timshel]

Is it feasible to presume that there isnt any chance we see for-sale housing downtown between $250-$300k? If OKC isn't on the level of Denver or Dallas then why is the for-sale housing so expensive? I honestly don't mean to criticize its just I don't get how these prices keep coming up.....maybe I'm missing something. Like how is the price relevant to the market?

The Civic had multiple condos in the $170k-$190 range. I think there are others. However, they are small and per square foot I imagine are on par with the more expensive properties. We just need more and more to be built to help level off prices. If the demand is there at $300/ft then I can't fault the developers for selling them at that price.

EDIT: I think I remember seeing some Block 42 condos for sale for $200k - $300k recently. I'd be curious to see what prices these existing/not new build properties are fetching.

I really like the look of this Cirrus development. They look like they're pretty decently sized condos. Hoping for more of these small developments as infill throughout midtown.

[PhiAlpha]

Is it feasible to presume that there isnt any chance we see for-sale housing downtown between $250-$300k? If OKC isn't on the level of Denver or Dallas then why is the for-sale housing so expensive? I honestly don't mean to criticize its just I don't get how these prices keep coming up.....maybe I'm missing something. Like how is the price relevant to the market?

I would say that lack of supply has something to do with it.

[DenverPoke]

Is it feasible to presume that there isnt any chance we see for-sale housing downtown between $250-$300k? If OKC isn't on the level of Denver or Dallas then why is the for-sale housing so expensive? I honestly don't mean to criticize its just I don't get how these prices keep coming up.....maybe I'm missing something. Like how is the price relevant to the market?

Sadly these would sell for $1M or more in Denver.

Good looking infill project!

[sooner88]

There were condos for sale for less than $250K at Block 42, the complex just south of Block 42, complex west of the Level and at the Harvey Apartments north of Bleu Garten in the last year or two, I'm not sure what the current prices are. The increase in higher end for sale houses will be a plus for the market. I know when I was looking, several of the buildings were having problems with the house appraising due to the lack of comps and were asking for cash offers. I'm sure this changed since I've looked, but there was some level of difficulty getting a traditional mortgage for any condo in that area.

[Anonymous.]

I would say Deep Deuce's current average is probably around $260 per sq ft. But it seems demand is very high as units are turning over in just weeks of being listed. Also it seems many of the recently sold condos in DD have been renovated (most built around 8-10 years ago) - which yields higher pp sqft.

[Pete]

BTW, I lived in the building directly south of this (SoSA Heights) and the views are arguably the best in all of OKC.

It sits on top of a pretty steep hill and overlooks Red Andrews Park then the skyline. An eastern facing view is always better because the sun is setting in the west instead of in your face.

This was my view and it's even more stunning in person; Cirrus will be similar:

[OKC_on_mines]

Thanks for the insight guys. It sounds like the more of these units that go for-sale the better chance the prices might come down. But it looks like I missed out on some offers too. Ill keep looking. I really want to move in to the urban core and be able to use the streetcar too. I'm looking at making my chess move in 6 months. By the way the civic center lofts look really nice to me and the ones in Deep Deuce (The Hill) are nice as well. Just got off the phone with a loan officer with USAA and she said the research shows OKC is leaning towards a sellers market right now. Since im an Air Force Vet im hoping I can get a good deal with a VA loan. All in all i'll keep my eyes open.

Ok back on topic....

[dankrutka]

That would be cool if you'd drop back in and update us, OKC_on_mines. Good luck!

[OKC_on_mines]

Absolutely Dankrukta. I certainly will!

[Plutonic Panda]

damn so the St. Anthony's Neuro building will be directly north of this across the alley? This area be pretty chill with Shartel having some good developments happening on it.

[coatesindc]

Hello all. The project received UDC approval last Wednesday. We have set up a placeholder website to capture contact information for those who are interested in staying abreast of progress and pre-sales announcements. The website is light on content currently, but we will be adding more details and information in the month of December.

www.thisiscirrus.com

[coatesindc]

The project website, www.thisiscirrus.com, has been updated with new renderings, floor plans and townhome feature details. Pre-sale pricing for 1-2 of the units will be announced soon.

[coatesindc]

Can't figure out how to embed the renderings effectively.

[Pete]

Here you go... Super sharp!

[Johnb911]

i am amazed at how life-like artistic renderings have become. side note, these look great.

[AP]

^Same. At first, I thought these were real pictures and thought I missed the entire construction phase.

[sooner88]

These might be my favorite small in-fill so far.

[Ross MacLochness]

i am amazed at how life-like artistic renderings have become. side note, these look great.

You guys might find this video interesting:

https://www.youtube.com/watch?v=E3LtFrMAvQ4

It's a tour of virtual apartments rendered in Unreal Engine 4 which can look very realistic. This demo is stunning!

[Pete]

^

That's amazing! Thanks for sharing.