Plaza District

[progressiveboy]

Real Estate is about location, location, location! This area is really coming into it's own. Since I no longer live in OKC, I do not know the comps for this area. I would bet that if investors continue to pour money into this district you will see even more gentrification!

[Richard at Remax]

Since this is a tear down you are looking at lot only. Would cost about $10,000-15,000 to clear the site if I had to guess.

That being said, according to my math that's about $2.7 million/acre. LOL good luck. That's just greed at this point.

[Dob Hooligan]

I'm guessing this is heirs looking to cash out (nothing wrong with that) and the late price increases might be a change in strategy from new arrivals in the mix.

[GoGators]

Yeah, I don't see any project being feasible at that price and that size. That's like Nichols Hills numbers for the lots. But then you could build a house and sell it for $2-3MM. The only comp that would come close would be the house on 16th and Douglas that sold for $1.1MM in late 2020. But that is on a slightly larger lot and facing east as well as south, so the ingress/egress is easier.

FYI, I remember back in 2009, the house at 1409 NW 16th (just a block east of this) sold for $142,000 at $47/sf. I was looking at that house as it was larger than our house, but my wife didn't love the idea of living on 16th Street. She actually worked in the Plaza District at the time and didn't want to be that close to her work either. The house sold in 2017 for $244,667 and is currently valued at $425,000, which is about $143/sf. I would bet, depending on the condition, it could be sold for $450,000 or higher.

If 1409 NW 16th came on the market tomorrow it would easily list north of 600k. houses along 16th in that area are going for around $240/sf

[Pete]

https://www.zillow.com/homedetails/1...21858315_zpid/
https://www.zillow.com/homedetails/1...21858314_zpid/
https://www.zillow.com/homedetails/1...21858313_zpid/

[Pete]

The small church in the left-center of this photo will be converted into 4 apartment units. The graphic shows only 3 but the developer specifically said four.

He (Sam Gresham) also told city council he hopes to add more units to the north end of the property but was waiting on a survey before determining if there would be enough parking.

[Ross MacLochness]

That's really cool.

[Celebrator]

Adaptive re-use of churches is really taking off, and that's a good thing because many ecclesiastical structures are quite beautiful and make for interesting residential properties.

[Pete]

^

And many are closing due to shifting demographics and the rise of the megachurch.

[Celebrator]

Speaking of that (and it's going to need to be moved to the correct thread) but what is the status of First Church of Christ, Scientist on Robinson since being purchased for conversion into law offices?

[Pete]

Speaking of that (and it's going to need to be moved to the correct thread) but what is the status of First Church of Christ, Scientist on Robinson since being purchased for conversion into law offices?

That was purchased by Travis Watkins, the owner of a tax resolution and accounting firm.

Watkins promised a quick renovation and move-in within a year. That was the summer of 2018 and absolutely nothing has happened there since.

[Celebrator]

That was purchased by Travis Watkins, the owner of a tax resolution and accounting firm.

Watkins promised a quick renovation and move-in within a year. That was the summer of 2018 and absolutely nothing has happened there since.

Really a shame. Such a beautiful building to be sitting there wasting away.

[OkieBerto]

Hank's Salsa Co. coming to the Plaza District in this small space on 16th Street.

[Pete]

Scorecards getting a new sign:

[PaddyShack]

Scorecards getting a new sign:

Good to see this little dive bar sticking it out

[OkieBerto]

Good to see this little dive bar sticking it out

One thing that has happened with Saints closing, is Scorecards has gained a lot of new patrons that use to spend their nights talking and smoking on the patio of Saints. I think this is great for Scorecards, but also really cool of those Patrons to keep their dollars in the district.

[OkieBerto]

Attachment 17156.

The Strubles look to be adding some more live/workspaces. I think these will be in the space in front of the parking that exists behind the garage live/work spaces. Couldn't find it on their website, but this sign is up.

Construction on these units has started.

[Pete]

[Bowser214]

Great Photos Pete!! Lots of Pride activities this weekend in the Plaza District.

[Pete]

Really, the Plaza District started out very much like 39th Street. Had better building stock but tons of similarities including the now wide sidewalks with big setbacks.

It also goes to show how incredibly far the Plaza has come.

[therhett17]

Did the hoarder house at 1617 NW 16th ever sell? I noticed the for sale signs are long gone, but the property is still the same mess it's always been.

[LocoAko]

Did the hoarder house at 1617 NW 16th ever sell? I noticed the for sale signs are long gone, but the property is still the same mess it's always been.

It is not listed as having changed hands on the County Assessor site.

[soonerguru]

Did the hoarder house at 1617 NW 16th ever sell? I noticed the for sale signs are long gone, but the property is still the same mess it's always been.

Are there no city codes to enforce with this house? It is ann abomination.

[OkieBerto]

Are there no city codes to enforce with this house? It is ann abomination.

As much as I would like to see this house sold and made into something better it is not the only problematic property on 16th street. 1500 NW 16th Street has been vacant for at least 5 years and this last week it caught fire. The city has let the owners just board it up. There are other homes that seem to have tenants with no plans of leaving or even fixing the problems to their own properties. Our city lets property owners off easy with small fines and it will likely take years for most of 16th street to be rid of any of these problem properties.

[shartel_ave]

As much as I would like to see this house sold and made into something better it is not the only problematic property on 16th street. 1500 NW 16th Street has been vacant for at least 5 years and this last week it caught fire. The city has let the owners just board it up. There are other homes that seem to have tenants with no plans of leaving or even fixing the problems to their own properties. Our city lets property owners off easy with small fines and it will likely take years for most of 16th street to be rid of any of these problem properties.

There are several properties in the Paseo, Central Park, edgemere, Jefferson park that are in horrible shape

I see them everyday but each month they are being purchased and renovated into nice homes and the trend continues and that trend is going quicker each month.

I think the people that bought the properties in the 90’s are being offered upwards to $200k and they are taking that money and leaving. I’m no fan of gentrification but at the same time I’m no fan of people owning property and letting their yards go and looking like junk yard sites not giving a **** about how their property looks in the neighborhood

Good riddance to them I say