The Canton ( formerly Residences at Classen Curve)

[Pete]

Do people really buy with consideration of being close to retail? 🤣.

Yes.

Just look at the neighborhood directly south of Classen Curve. Tons of new 2-on-a-lot homes that are going for $700K+.

None of that happened before Classen Curve.


It's wonderfully nice to stroll over to the store every time you need a few small items. Or to walk to Republic to meet friends. Or to take spin classes withing walking distance.

I used to live in Manhattan Beach and while my place was only a block from the beach, more importantly, I could walk to the grocery store, tons of restaurants and bars, a great bagel place, the post office, the library, my bank, my haircutter, my dentist.... On and on. Most nights and weekends I never used my car. It was awesome.

[GoGators]

I don’t really know why this location is getting so much scrutiny. A massive complex gets thrown up in the middle of a pasture somewhere out on NW 150th and Rockwell or something and no one bats an eye. But one gets proposed directly in the center of great amenities, Infrastructure, and jobs where density is best utilized and people get concerned. Doesn’t make a whole lot of sense to me.

[shawnw]

This is really cool! Do we have a link to the OKCTalk thread on point? I'd like to look over the plans as I can't recall them right now

Not sure if there's a thread. I got my information by talking to planning and parks reps at the most recent MAPS 4 forums.

This document (https://www.okc.gov/home/showdocument?id=11287), which is like a year old, on page 25, shows it as the squiggly red line under I-44 as a current 2007 GO Bond initiative. However from my discussion at recent forums, because highway easements are involved, the city, state, and county have pieces of this project and ODOT has the lead. I haven't been able to find a specific doc for this project, but I'm sure it's out there somewhere.

[aDark]

I don’t really know why this location is getting so much scrutiny. A massive complex gets thrown up in the middle of a pasture somewhere out on NW 150th and Rockwell or something and no one bats an eye. But one gets proposed directly in the center of great amenities, Infrastructure, and jobs where density is best utilized and people get concerned. Doesn’t make a whole lot of sense to me.

I don't think anyone (other than the lawyer lady who lives nearby) is contesting it being built. I think the conversation has been discussing the likelihood of it being a success. I don't have any qualms with it being built I'm just surprised everyone thinks it'll fill up with ease.

[GoGators]

I don't think anyone (other than the lawyer lady who lives nearby) is contesting it being built. I think the conversation has been discussing the likelihood of it being a success. I don't have any qualms with it being built I'm just surprised everyone thinks it'll fill up with ease.

That’s what I’m referring to as well. If an apartment in the middle of nowhere can fill up without issue, surely an apartment that is in a location that has demand for actual density will be able to crush.

[CloudDeckMedia]

That’s what I’m referring to as well. If an apartment in the middle of nowhere can fill up without issue, surely an apartment that is in a location that has demand for actual density will be able to crush.

There are other variables at play such as price & quality.

[aDark]

That’s what I’m referring to as well. If an apartment in the middle of nowhere can fill up without issue, surely an apartment that is in a location that has demand for actual density will be able to crush.

Gotcha. I am assuming this apartment complex will have rent significantly higher than what we are seeing in the outskirts of OKC. I expect rent prices will compete with downtown apartments.

[Rover]

I get that. I recognize being close to Trader Joe's, Lake Hefner, and being a 20 minute drive to downtown are all positives. Being close to the trails through NH is also a nice plus. However, beyond that, nothing else in proximity is desirable. Half the cool stuff in Curve is really just a showroom for online purchasing (Bonobos, Warby, Tecovas, etc). Do people need to live next door to it?

Maybe I'm misunderstanding the target audience?? If this development is hoping to attract Boomers or Gen Xers who still shop at malls then yeah, maybe it will fill quickly. I'll be very interested to see if it fills up quickly and will humbly eat crow if it does!

Do people really buy with consideration of being close to retail? 🤣

Sounds like I'm way off base so I'll stop pleading my case.

The Curve is just a small part of the commercial area in the vicinity. There are lots of affordable places to eat, drink and shop within a relatively compact area. Lots of things that appeal to younger generations. You might want to get out and drive the area and discover all that is there, and all that is close. And, you might be surprised at how many people frequent Penn Square Mall... of many ages. People tend to stereotype this section of the city, but it is way more diverse than given credit for.

[GoGators]

Gotcha. I am assuming this apartment complex will have rent significantly higher than what we are seeing in the outskirts of OKC. I expect rent prices will compete with downtown apartments.

I see what you are saying. I was thinking more about some of the newer complexes along the turnpike. If Argon can charge downtown rates, this location surely will be able to compete there as well. Its a much more desirable location than anything overlooking the turnpike imo.

[Rover]

One tiny piece you left out that is forthcoming... trail connectivity. The Deep Fork trail will start construction in June and will take a year to complete. It'll connect into the grand loop. You'll be able to get all over the city by dedicated trail by the time these apartments are done.

It's actually pretty easy and quick to ride bike from that spot to Lake Hefner trails... done it a lot. Great ride out to and around the lake. Lot's of people ride bikes in and around NH. I actually see more bikers and runners in NH along the park than I do downtown, midtown, the plaza area, or anywhere else in town. They seem to actually use the infrastructure they have. (That said, I wish they'd put sidewalks in from Penn to Western on 63rd.)

[Pete]

Press release:

****************

OKLAHOMA CITY (Dec. 19, 2019) – Hines, the international real estate firm, announced it will partner with Humphreys Capital to develop The Residences at Classen Curve in the Nichols Hills submarket of Oklahoma City.

The Residences at Classen Curve will be a five-story multifamily project with 325 for-rent units and will be Hines’ first multifamily project in Oklahoma. The project will be situated immediately adjacent to Whole Foods and Trader Joe’s within a vibrant high-end lifestyle retail center. The Residences at Classen Curve will be the only Class A community in Oklahoma City with walkability to a grocery store, and it will also be walkable to over 15 restaurants and multiple fitness concepts.

“We are privileged to be partnering with Humphreys Capital and are excited to continue the successful relationship in our second joint venture together,” said Hines Managing Director David Bach. “Hines is also proud to continue expanding our footprint in Oklahoma City, after the successful developments of Devon Energy Center and Bank of Oklahoma Park Plaza.”

“We are excited to add a residential component to the highly successful Classen Curve retail center,” added Hines Director Gregory McHenry.

“We are very pleased to once again work with Hines, a world-class developer with whom we have built a great relationship,” said Todd Glass, Senior Managing Director of Investments at Humphreys Capital. “It is particularly gratifying to collaborate on an exciting project in our own backyard, on a unique infill site that will help meet Oklahoma City’s growing housing needs.”

Hines has engaged Dwell Design Studio (Dwell) as the Architect of Record for the development project. Dwell offers expertise in stick-wrap residential design, with deep experience throughout the Southeast and Southwest United States.

Units will average roughly 900 square feet and the project will feature resort-style amenities including: a private fitness center, private amenity courtyards, pool, club room, coworking lounge, dog run, package facilities and significant bicycle storage to take advantage of adjacency to the Lake Hefner bike trail.

Construction on The Residences at Classen Curve is slated to begin in 2020 with occupancy in late 2021.


About Humphreys Capital

Humphreys Capital is a real estate investment company that acquires, develops and operates income-producing, multi-sector properties including industrial, multifamily, office and retail. The firm’s investment and development focus is on dynamic cities exhibiting diverse growth across the Southeastern and Southwestern United States, where it specializes in privately negotiated off-market, mid-size deals of institutional quality. The multigenerational team provides seasoned expertise and exposure to diversified commercial real estate for accredited and institutional investors. The firm has raised approximately $250 million over five years across three funds. Visit www.humphreyscapital.com for more information.

[CloudDeckMedia]

Units will average 900 square feet. AVERAGE!?

[Thomas Vu]

Not too surprising I don't think? Where I live the units can go as big as 1288, and as low as 649

[dwellsokc]

Is a Site Plan available?

[Pete]

Is a Site Plan available?

See the first post in this thread.

[Pete]

[Pete]

Some more renderings:

[Pete]

Submitted their building permits today.

Work should start in the next couple of months.

[BoulderSooner]

Submitted their building permits today.

Work should start in the next couple of months.

do you know what is going in the too proposed buildings directly north of this project??

[Pete]

do you know what is going in the too proposed buildings directly north of this project??

They are planning a couple of more restaurants but I don't think they have any deals signed as of yet.

[Pete]

Utility work has started for the apartments (along 63rd) and the hotel continues; bank on the corner is almost complete:

[PaddyShack]

Are there photos of what used to be here bounded by Classen, 63rd, and Western, before Classen Curve was planned?

[Pete]

Here is the area in 1990 vs. 2019:

[mattbrafford]

I have always wondered, what was the large building that was where this apartment complex is going?

[Rover]

I have always wondered, what was the large building that was where this apartment complex is going?

It was offices and a little retail. There was a prime lobby spot with a restaurant... originally a barbecue restaurant out of Beverly Hills, then a Disco (Michaels Plum), then another sports restaurant. I think that's the right order.