OAK (formerly Penn Central)

[Ross MacLochness]

Happy this will connect pretty well to the surrounding neighborhood.

[Lazio85]

I think the initial conceptual plans are promising, but find it a little unplanned due to the brand new road that was laid down as part of the recent BOND and Penny TAX initiatives. They would need to spend their own money rebuilding the civil part of this project.

[David W]

I live in the area that they want our approval, I use 50th street all the time, I like that I can tow my toyhauler on 50th from Penn, if this goes thru I will have to look at another route, I'm voting NO

[David W]

I hope they know the $500 is income and will be taxed at the end of the year

[Lazio85]

I live in the area that they want our approval, I use 50th street all the time, I like that I can tow my toyhauler on 50th from Penn, if this goes thru I will have to look at another route, I'm voting NO

Why can't you continue to do so with the shifting of 50th street?

[David W]

Why can't you continue to do so with the shifting of 50th street?

can't there is a median at the entry off of Penn

[Rover]

I live in the area that they want our approval, I use 50th street all the time, I like that I can tow my toyhauler on 50th from Penn, if this goes thru I will have to look at another route, I'm voting NO

Given that this likely increases your property value substantially, I am surprised that an occassional re-routing would make anyone say no. Oh well, everyone has their own priorities and this is why this thing isn't a slam dunk. Investing millions and bettering the neighborhood vs. letting it continue to run down. Seems like it would be an easy choice.

[David W]

Pete in your drawing like I said to you, they want to buy those 5 houses on 52nd odd numbers, this will lower our real estate values of our houses too, to have a business come into a residential area

[David W]

Given that this likely increases your property value substantially, I am surprised that an occassional re-routing would make anyone say no. Oh well, everyone has their own priorities and this is why this thing isn't a slam dunk. Investing millions and bettering the neighborhood vs. letting it continue to run down. Seems like it would be an easy choice.

anytime a business comes in, your property value decreases

[PaddyShack]

anytime a business comes in, your property value decreases

I definitely don't understand this, the places I have looked at in the city all have had steady rises in property value despite having a multitude of businesses in the backyard...

[jedicurt]

anytime a business comes in, your property value decreases

there are literally 1000's of examples in the OKC area which prove this wrong

[Rover]

anytime a business comes in, your property value decreases

You seriously believe that or just trolling? Maybe if they are building shacks and holding cock-fights and strip shows.

I suppose the property around the Plaza is decreasing in value now due to those darn businesses.

[Pete]

Pete in your drawing like I said to you, they want to buy those 5 houses on 52nd odd numbers, this will lower our real estate values of our houses too, to have a business come into a residential area

The developer told me those would not be developed as commercial but be a buffer between the project and neighborhood.

[Colbafone]

anytime a business comes in, your property value decreases

If by decrease, you mean increase, you nailed it.

[Colbafone]

Plus, 3 parking garages! Should be right up your alley

Truly, this is the best part.

[David W]

Pete forgot to add this, they want to buy 5 houses on 52nd

[Pete]

Investing millions and bettering the neighborhood vs. letting it continue to run down. Seems like it would be an easy choice.

The neighborhood is not 'run down'. It's quite nice and property values have been steadily increasing.

The Penn Park and Registry buildings are quite full.


I'm generally for this development but I completely understand why those very close aren't crazy about the idea.

[David W]

If by decrease, you mean increase, you nailed it.

so why would I want to pay more taxes then GEEZ

[Rover]

There are pockets increasing, but relative to values in many other areas it has not been keeping pace. And, I looked at deals on the Registry as well as the apartment complex to the south over the past 2-3 years. Neither was full, though they both had pretty steady occupancy at reasonable rates.

This is a potentially great deal to raise the visibility of the neighborhood. It is a great location with some pretty good bones, but can use a new face and new destinations. It will be nice to have a high density commercial area. Penn Square isn't the "neighborhood" village. This could be.

I guess I am selfish... this is an easy bike ride or walk for me and would be a good destination area. Now if they do this and then finish the Triangle at the Curve with it's mixed use development, I would be a happy man.

[Lazio85]

can't there is a median at the entry off of Penn

That entire intersection will be redone, and if given proper input before final plans go before the review board this can be altered.

[KayneMo]

can't there is a median at the entry off of Penn

50th would be shifted south to align with the stoplight into 50 Penn Place, there's no median there.

[David W]

the house next to me has been empty for maybe 5 years, she finally sold it for $120K then they sold it to a rental management company for $144K, my house is still worth $120K and it's bigger

[David W]

50th would be shifted south to align with the stoplight into 50 Penn Place, there's no median in Penn there.

look at Penn into the business area

[David W]

there is a median from the expressway to the light then stops then it starts again to the second opening into the business

[Pete]

There are pockets increasing, but relative to values in many other areas it has not been keeping pace.

I own a home in that neighborhood and recently had it appraised and I can assure values are rising at a healthy rate.