Hill, The

[betts]

There's a pool and clubhouse planned and supposedly construction will start fairly soon, but to me, that just makes it more suburban. But you know what: we've got the Hill and so personally, I hope it's a success ultimately, just like I hope all downtown housing is ultimately a success. It's not my favorite, but they've landscaped it nicely. People living there is now good for our neighborhood. I would object vociferously if Canfield were trying to start something new, but I hope this one gets finished. I don't think it's a spectacular location, so I'm pleased sales have picked up.

[G.Walker]

There's a pool and clubhouse planned and supposedly construction will start fairly soon, but to me, that just makes it more suburban. But you know what: we've got the Hill and so personally, I hope it's a success ultimately, just like I hope all downtown housing is ultimately a success. It's not my favorite, but they've landscaped it nicely. People living there is now good for our neighborhood. I would object vociferously if Canfield were trying to start something new, but I hope this one gets finished. I don't think it's a spectacular location, so I'm pleased sales have picked up.

The aesthetics of the development are great, its just that the price points are too high, which are driving away potential buyers.

[city]

You know it takes all kinds... I prefer it to Maywood Park and I thinks the location is spectacular.

[BDP]

who really wants to pay half a million dollars for a 3 bedroom townhouse with no backyard, that's crazy

I would gladly pay that if it was finished out nice. I actually prefer no backyard (you save soooo much time and money), but in exchange I would like some amenities as part of the complex and for there to be easy access to neighborhood services. This thing has managed to feel isolated, while being in the heart of the city. Is there a market for that? For what it is, you could get the same type of living elsewhere in the city for half the price. It's like a gated community with no gates. The market for that kind of living would want a backyard and no shared walls. Honestly, this is the worst kind of development there is, imo. It's "upscale" with absolutely no "upside". It's in an urban setting with no urban benefits. It's suburban minded with no suburban benefits. It just makes no sense.

[Pete]

Yet, they would probably be close to sold out if they had been put on the market for what was promised. I'm sure many would pay $250K for those units, but not $400K+.

They should be filling the ample need for something larger than a small flat (like Maywood Lofts and Central Avenue Villas) but more affordable than the up-scale Brownstones.

[BDP]

I agree, Pete. They have not built what those seeking urban living are willing to pay a premium for. So, really they built a product for a suburban minded customer wanting a downtown location (does that exist?), but took away all of the suburban amenities and tacked on a premium. I guess the whole question is what is justifying the premium? I can actually begin to justify the Brownstones' premium now that that neighborhood might actually be gaining the urban amenities that is the whole basis of the urban market and the reason they can get premiums. The interesting thing is that it is not far from the Hill location, but the way they built it, it feels separated.

Personally, I still haven't seen anything to make the jump downtown. Now, if anyone ever builds something like The Classen downtown, it would be hard for me to stay away from that.

[Spartan]

You know it takes all kinds... I prefer it to Maywood Park and I thinks the location is spectacular.

No offense, but you must really love the Hobbit by J.R. Tolkien if you like The Hill more than Maywood Park.

[RadioOKC]

I think this is a good idea but like everyone else said that price is insane. One thing I was wondering. Has anyone heard of a development using ICF construction in a development. I am just thinking one might pay $400,000 for something with that quality of construction and a few solar panels. The combination of the two would be a heck of a sales feature IMO.


Chris
www.radiookc.com

[Urbanized]

The Brownstones at Maywood were/are ICF.

[betts]

Utility costs at the Brownstones are so low it would be hard to justify the cost of solar panels. I saw some great looking ones that were awnings in a photo, however.

[Spartan]

Betts, that's generally the point though. It only takes a few panels, which can be arranged in innovative alternatives as you mention, to make a home energy neutral. Some people are interested in the idea of living off the grid, but still living well. Granted, it will be difficult to tackle things like water usage or even just drainage issues in the middle of downtown, but electric conservation is usually the biggest concern people have.

[betts]

It would have to be the concept of living off the grid that would be the watchword for me, because it would probably take so many years to pay back the cost of installation that it would hardly be cost effective. My electricity costs in the winter are generally below $20 a month. Even this summer they've been about a tenth of what they were in my old house.

[Spartan]

No doubt, any excellent idea can be too much of a good thing if taken so far, to a degree that it defeats the purpose of practicality and usefulness.

[Just the facts]

With the solar talk and living off the grid you have peaked my interest so let me add this. Placing solar panel on your roof doesn't take you off the grid. Unless you live in a remote area, the solar panels on the roof are tied back into the grid using a grid-phase inverter. You essentially become your own utility company generating electricity and selling it to the electric company. The solar panels cause your meter to run backwards (or at least slow down) so every month (depending on usage) you either have a credit with the electric company or a small bill. To go off-grid you would have to have a large battery system to store the electricity. As for water, rain gutters feeding a cistern could provide all the water you would ever need (especially if you have no lawn to water) but it would have to be built before the house is built unless you have a yard to put in. Some yard based systems can store 30,000 gallons.

Urban off-grid systems is a recent interest of mine.

[OKC@heart]

This is correct that in an urban setting it is far less than practical to have a facility "off the Grid". Energy is meant to be consumed, to store require very cost prohibitive battery systems that have all sorts of other nasty potential issues, such as storage of caustic and toxic materials within that can leak out, limited life cycle requiring replacement often prior to ROI, among others such as how and where the old one is disposed of etc... just to name a few.

[betts]

While walking my dog today I noticed that two of the newest buildings being completed at The Hill now have "sold" signs on them. That should be at least six they've sold this year. I realize that's not the same as filling up an entire development, but it at least shows there is continued interest in for sale dwellings downtown. On of the townhouses at Maywood Park just sold as well. I had friends visiting here who may be moving back and downtown was the only place they wanted to look at housing. They were very impressed with the amount of activity in the Triangle/Deep Deuce.

[mcca7596]

Good to know, thanks for the info Betts.

They've also redone their website to where now it is easy to see what is under construction, has been sold, or is under contract:
http://www.thehillokc.com/index.php

[Pete]

County Assessor site shows a total of 11 units sold.

[MDot]

Thanks betts for the update. I hope they continue to sell well.

[Okie Yorker]

I purchased one of the units at The Hill recently and I ABSOLUTELY love it! I did a lot of research downtown and picked The Hill because it's finishes are great and the quality of construction is fantastic. You literally hear like Zero street noise in the units and with GeoThermal Heating & Cooling and the super efficient insulation, my utility bills went from $500 per month in my previous house to $50 per month which I LOVE!

Even though it is selling for more per square foot than Block 42, in my opinion, the finishes/construction quality at The Hill are FAR SUPERIOR to Block 42. 2 car garages, built in tornado shelters, SUPER TALL ceilings, etc. Plus, The Hill has plenty of room to expand and they should be putting in the Pool / Clubhouse very soon with all of the recent sales (they've sold 5 units in the past 3 months and a few other large ones are under contract).

If you look at the comps, the price point of the Hill is similar per square foot to anything else downtown. I also found their monthly maintenance/association fees to be lower (as much as 50% less) than the other competing complexes such as Maywood, Harvey Lofts, Centennial, Block 42, etc.), which is one of the things that helped me decide on this complex. The floor plans are also laid out really well and the space is very functional....big living areas downstairs and a nice flow for the upstairs bedrooms/bathrooms. I wasn't a big fan of the Maywood Brownstones because the floorplans were somewhat strange and with the elevator in the middle of the units, it doesn't allow for large spaces (and things are boxed off).

I read the earlier posts about people complaining that the units at The Hill are priced too high....The bottom line is a home is going to cost more when you are in a desirable location. OKC has a lot of great things going on and downtown is becoming more and more attractive all the time. I love being able to walk to Bricktown or Red Prime / Iguana / etc. and yes, I'm more than willing to pay a higher price for that convenience over a home in Edmond or Moore.

For example, my neighborhood in the NYC area (Jersey City) is located along the Hudson River waterfront and is about a 5 minute subway ride to the World Trade Center / Financial District in Lower Manhattan. Because of its close proximity to a highly desirable area, the condos/townhouses in my area sell for approx $600 to $1,000+ per square foot, depending on the age of the building and amenities. You can go literally 3 miles west of me, IN THE SAME CITY, and the price drops all the way down to $200 to $300 a foot....It's all about Location, Location, Location and while its not as extreme as that example in OKC, you still are going to pay more (on average) to live downtown than anywhere else in the metro.

I've been a longtime resident of metro OKC (14 years) and have had a home in the NYC area for quite a while (11 years) and I can say that I really feel energized about my move from a large home in suburban OKC to downtown. I honestly don't even feel like I live in the same city anymore. I think more and more people like myself are starting to realize that downtown is great place to live and I really believe it will flourish over the coming years and that is VERY exciting to me as I think it's the next chapter OKC needs in its continued success (attracting people to the urban core)

With the opening of the Level Apartments / aLoft Hotel in Deep Deuce, I think all of the Eastern Downtown / Northern Bricktown area will benefit....More population density equates to more and more restaurants, shops, etc. I wouldn't be surprised if we see a small Market open up in the area in the next 12 to 24 months.

I encourage you to come visit The Hill, do a tour and put the pencil to the paper to crunch some numbers. I think you might be pleasantly surprised by how affordable it is to live downtown compared to other housing options. Although I have a little less space than my previous home, I am saving about $1,000 a month when all is said and done with and the previous home in the OKC suburbs was at the same price point of the unit I purchased downtown (thru no pool costs, no yard care costs, 80% lower utility costs (and I'm not exaggerating on that at all) no high insurance costs--that is covered by the HOA dues, no fixing stuff all of the time, etc.).

That's my .02

[mcca7596]

Wow, thanks for that thorough summary! Great to hear!

[MDot]

Me like. Very good summary.

[Just the facts]

Ram 1500 Pickup: $525 per month
Ram 1500 Insurance: $62 per month
Ram 1500 Gasoline: $150 per month
Armada SUV: $825 per month
Armada Insurance: $52 per month
Armada Gasoline: $200 per month

Total just to own 2 cars: $1,814 per month.

Let's talk about that location, location, location theory again. What I really want is a SmartCar, a Segway, and a bicycle. I could live downtown just on the money I save by living downtown. Think about that for a minute. Anyone want to buy a 4 bedroom 2.5 bath house in a gated community 10 minutes from the Atlantic Ocean and 2 minutes from world class shopping?

[dankrutka]

Wow. Someone should put this recommendation on their website... Then maybe they'd sell the rest of them and finish the development.

[betts]

You can add in another $300+ a month for lawn maintenance savings, and if the Hill is anywhere near as energy efficient as the brownstones, I can add in another $300+ a month in ultility savings. The savings add up rather quickly. My insurance costs dropped too.