Maywood Apartments

[Chadanth]

Sadly, it's an ugly building with no street interaction and an off-putting color scheme reminiscent of the Sheraton. The exterior has the look and feel of on-campus student housing.

It really is pretty bland. Sad, it's a high-traffic corner.

[Anonymous.]

Looks like competition is finally having influence on the DD properties. Maywood is offering free rent for first month and $100 off every month of the lease for new renters. No doubt this is in response to the Metropolitan. Great for the entire district.

[Pete]

^

At the same time, they are charging higher rents than anticipated. The original plan was to come in lower than the current market but once built, they found they could get more than they thought.

The free rent thing is a way of giving renters a break up front but keeping their overall rents on the higher end. It's smart because once people move in, they are likely to stay beyond the original lease term.

[Spartan]

^

At the same time, they are charging higher rents than anticipated. The original plan was to come in lower than the current market but once built, they found they could get more than they thought.

The free rent thing is a way of giving renters a break up front but keeping their overall rents on the higher end. It's smart because once people move in, they are likely to stay beyond the original lease term.

It's actually even smarter bc as a promotion, developers can write off the value. It also helps a lot of investment goals to be able to show the highest rents possible, even if that isn't materially forthcoming.

This bldg is extremely bland and ugly. Design review really failed here...as elsewhere.

[Anonymous.]

Crazy competition going on in Deep Deuce with rents. Metropolitan and Mosaic have basically changed the game.

Maywood I has specials running @ 780 sqft for $885 per month. That is by far the best deal in all of DD.

To compare:
Deep Deuce Apartments has their 550 sqft for just over $1000 per month.
Metropolitan has their 600 sqft for $824 per month.


When Maywood II comes online, it is only going to get crazier. This competition is going to make the area much more affordable to many more people in the next couple years. Exciting to finally see this happening.

[shawnw]

Maywood I has specials running @ 780 sqft for $885 per month. That is by far the best deal in all of DD.

Um, that might be the best deal in all of downtown at the moment. That's $1.13/sqft. I'm paying $1.22-1.26/sqft (depending on whether you include flat utilities) at Regency which used to be where folks went for bargains...

[Chadanth]

Um, that might be the best deal in all of downtown at the moment. That's $1.13/sqft. I'm paying $1.22-1.26/sqft (depending on whether you include flat utilities) at Regency which used to be where folks went for bargains...

I'm at about $1.30/sqft at Level. Maywood is a great deal.

[AP]

Maywood is pretty nice, too. That is where my fiance used to live. Enjoyed it very much.

[DenverPoke]

Crazy competition going on in Deep Deuce with rents. Metropolitan and Mosaic have basically changed the game.

Maywood I has specials running @ 780 sqft for $885 per month. That is by far the best deal in all of DD.

To compare:
Deep Deuce Apartments has their 550 sqft for just over $1000 per month.
Metropolitan has their 600 sqft for $824 per month.


When Maywood II comes online, it is only going to get crazier. This competition is going to make the area much more affordable to many more people in the next couple years. Exciting to finally see this happening.

OKC is still so inexpensive! Metropolitan's new units at that price seem like a great deal.

[Pete]

Yes, still relatively cheap here.

And last I heard (just a couple of weeks ago) there is still a waiting list for Level.


Remember, it's not just Mosaic and the Metropolitan coming on-line, it's also LIFT. All are leasing or pre-leasing now and this is also a slow time of year for new move-ins.

I bet by the summer almost all units will be absorbed and rents will start to climb once again.


In fact, I just read that there are now more renters as a percentage of the population than any time since WWII. And rents everywhere continue healthy climbs.

[DenverPoke]

In fact, I just read that there are now more renters as a percentage of the population than any time since WWII. And rents everywhere continue healthy climbs.

I'm not sure a lot of that is by choice, except for possibly the millennials. I don't see rental prices coming down in the foreseeable future.

Rent prices are soaring - May. 21, 2015

[Pete]

^

Right, lots of studies showing how rental increases are far outpacing income growth, thus rents are become less and less affordable.


Having just moved from Southern California, the problem there is especially acute because it's so difficult to buy a home there. So many are forced into renting (I have hundreds of professional friends out there over 30 and almost zero of them own anything at all) and thus rents go up, up, up.

In OKC, it's far more affordable to buy vs. rent, yet it's harder to qualify due to the recent mortgage scandals and many either want brand new, no hassle homes or would rather just pay rent somewhere.

[DenverPoke]

Having just moved from Southern California, the problem there is especially acute because it's so difficult to buy a home there. So many are forced into renting (I have hundreds of professional friends out there over 30 and almost zero of them own anything at all) and thus rents go up, up, up.

Sadly the same thing is happening here in Denver (though on a more reasonable scale).

If I had the money I would be scooping up homes in central OKC.

[Anonymous.]

Um, that might be the best deal in all of downtown at the moment. That's $1.13/sqft. I'm paying $1.22-1.26/sqft (depending on whether you include flat utilities) at Regency which used to be where folks went for bargains...

Agreed, for deep deuce district, anything lower than $1.50 is a great deal. These new Maywood prices are unheard of.

[Pete]

Sadly the same thing is happening here in Denver (though on a more reasonable scale).

If I had the money I would be scooping up homes in central OKC.

Purchase prices have gone through the roof in the core.

New construction is now going for $275 / SF and up... And everything is still selling quickly.

And the older homes in surrounding neighborhoods are seeing similar big increases and quick sales for anything decent.