Apts proposed east of I-35

[oklip955]

There is a proposal to build 300+ apartments on 70+ ac of land on the north side of Covell just east of Air Depot. This is the first multifamily project east of I-35 in Edmond. About half the land is in the flood plain so lots of green space or ? It looks like the east side of Edmond (east of I-35) is starting to gear up for development.

[jerrywall]

Mixed feelings. Normally these larger multi unit developments get built, and within a few years are not maintained. They're just not that profitable. On the flip side, I think east of I-35 needs some multi-unit development. I've love to see up-scale or town home work being put in there. Hopefully these are quality apartments and not the normal crap they put up.

I also think this area is ideal for the type of 18 on park type of mini communities.

[okatty]

The new Edmond HS will be at Air Depot and Covell - SE corner. Also an elementary school at Sorghum Mill between Bryant and BLVD. So this would feed into those.

[oklip955]

The new Edmond HS will be at Air Depot and Covell - SE corner. Also an elementary school at Sorghum Mill between Bryant and BLVD. So this would feed into those.

There is also going to be an elementary school at Coffee Creek and Douglas, south east corner. I think that they will feed into this one. One thing for sure is the side east of I-35 is growing.

[oklip955]

Planning commission voted 1-3 to reject the apts. They go before the councel next month.

[jerrywall]

If it's high quality multi unit developments, I hope it gets approved. If it's another crap/junk apartment that will not be maintained, pass.

[oklip955]

No plans just the change in zoning. No telling what they will look like. The problem I see is the master plan is for east of I-35 to remain large lot (2 ac or more), with water and sewer lines east of I-35 we already had additions on 1/4 ac lots and some commercial. The whole east side master plan needs to be rethought. Maybe some high end detatched padio homes with nice maintained green space would be a good fit since the parcel contains a large flood plain.

[zachj7]

Meh, like others, if its quality build it, if it's crap apartments, then don't. For average decent apartments, I feel the Greens on Covell have maintained it's property nicely.

[Rom]

Voted down last night

[jerrywall]

Meh, like others, if its quality build it, if it's crap apartments, then don't. For average decent apartments, I feel the Greens on Covell have maintained it's property nicely.

How old are the Greens though? I've seen story after story that states that medium to low range apartments are almost never profitable in the long run. Higher end developments, especially ones that involve residence ownership can work, but there's a point for normal apartments where it's not worth it for the owner to maintain. It may be 20-30 years in, but the day seems to always come. it's the same reason why high rental rates in neighborhoods drive down property values.