Villa Teresa

[AP]

Considering it would save them the step of demolishing.

[Uptowner]

I toured these buildings a couple years ago. Some are so-so. There's only 1 or two that I would consider valuable. Of course we all like to get wiggy over anything that was build before the 70's on this forum. But not every abandoned old brick building with a back story is a diamond in the rough.

[BoulderSooner]

There is no way the school had the money to do this project.

[Pete]

This is from a friend who is close to the school who seriously doubts the school has the money or support to pull off the purchase and move to VT:

The Academy is the result of a recent merger of two very small suburban schools, Providence Hall and Veritas. Unlike Catholic schools, the Academy lacks the backing of a church. Some original founding families have left after battles over curriculum and direction. A move to Villa Teresa would require the sale of all three suburban campuses, and retaining all of their suburban students.

[Plutonic Panda]

?Zero plans?: Villa Teresa buyer says it will immediately relist property | The Journal Record

[Spartan]

I think bad PR worked.

[Paseofreak]

I think a newly minted, self appointed, narcissistic bully worked. The outcome will be the same. The dollars say so. That is very sad. Journalism has gone terribly awry. Lackluster is off the reading list.

[Spartan]

I think it's a positive to head off an idea to demo Villa Teresa.

[soonerguru]

I think it's a positive to head off an idea to demo Villa Teresa.

No. This will probably be sold to someone who has absolutely no intentions of adaptive reuse as a result of this episode. I actually believe Nelson in this matter. I suspect some of the buildings would have been reused and some demo'd. He has a very solid record of reusing and rehabbing historic buildings.

Nothing has been "saved" here. Just a lot of saber rattling.

[Paseofreak]

I disagree entirely. The ends don't justify the means. Lackluster has been unfairly throwing his weight around for some time. Absolutely no one seems to have violated a law and the property has no new owner. Making an offer to purchase is no crime. The owner set the price, and therefore dictates the financials. To castigate an offerer before the deal is done and then pillory them for not talking to him at any point they decided it was imprudent is outragous. How many times has he trotted out the line "These deals take time. I can't talk about it yet."? He endangered many innocent people's jobs as a result. Someone asked "When do we start boycotting McNellies, Fasslers, Dust Bowl, etc". He denied asking for that, but it didn't keep him from making derogatory statements anyway. I'm done.

[Spartan]

No. This will probably be sold to someone who has absolutely no intentions of adaptive reuse as a result of this episode. I actually believe Nelson in this matter. I suspect some of the buildings would have been reused and some demo'd. He has a very solid record of reusing and rehabbing historic buildings.

Nothing has been "saved" here. Just a lot of saber rattling.

Elliott wanted to do hotel. He ended up not liking how a hotel would have to look on that site. I'm not privy to those details nor can I see anything glaringly wrong with Villa Teresa, but I too respect Elliott.

It seemed Elliott just backed out of a deal that went forward anyway.

[ljbab728]

LOL, it just amazes me how some here would rather this end up wrong than support anything Steve says.

[Pete]

‘Zero plans’: Villa Teresa buyer says it will immediately relist property
By: Molly M. Fleming The Journal Record October 30, 2015

OKLAHOMA CITY – A local developer has purchased a former Catholic school in Midtown.

The Ross Group Construction Corp., which has had an Oklahoma City office since 1998, purchased Villa Teresa for $4.75 million, said Steve Reeser, the Keller Williams Edmond broker who handled the transaction.

The Ross Group President Warren Ross said the company will immediately relist the property, since it has no immediate plans for it.

“We’re going to take the time and do (with it) what we think is right, but if someone wants to move faster, they are more than welcome to buy the property and do that,” Ross said.

The multi-building facility sits on 3.5 acres. The oldest building dates back to 1917, when it was originally built as a house. The Carmelite Sisters of Saint Theresa of Infant Jesus purchased it in 1933 and then began to buy other nearby homes to create what would eventually become the campus. A school building was erected in 1955. There is also a pool on the land. The school closed in 2012.

Reeser said none of the buildings are on the National Register of Historic Places.

“It wasn’t that much of a benefit for (the sisters) to put it on the National Register,” he said. “But if someone wanted to, they could.”

Ross said low oil prices are keeping the group from acting on the property.

“We think there is some value in the market with oil prices being down,” he said. “But as far as developing it, it would be premature based on the current price of oil.”

He said other media reports of the buyer demolishing the structures and building an apartment complex were about discussions held before The Ross Group was involved, and even before Elliot Nelson and Casey Stowe were involved. Nelson and Stowe ended their involvement with the project Tuesday.

“We have zero plans for the property right now,” he said. “We have a long history of redeveloping property in Oklahoma City. We have a long history of redeveloping property in Tulsa. It’s always a reuse of the property in some capacity. We want to take our time. Let everything calm down. There are some good buildings there.”

[Pete]

Now, we'll see if this school steps and buys it, since the property is re-listed.

[Canoe]

What is the price increase from the relistin?

[Pete]

What is the price increase from the relistin?

It was originally listed at $5.4 million and was just sold for $4.75 million.

Not sure what Ross is asking for it now.

[bchris02]

Do you think the price of oil really killed the deal or was it the bad publicity?

[Eddie1]

I think an urban bed and breakfast would be cool for the main house on this property. Do we even have an urban B & B in OKC?

[kevinpate]

I think an urban bed and breakfast would be cool for the main house on this property. Do we even have an urban B & B in OKC?

The Grandison Inn appears to still exist off 12th and Shartel
The Grandison Inn, a romantic Victorian Bed and Breakfast in Oklahoma City

[Eddie1]

Hey, thats very nice...thx Kevin!

[no1cub17]

I think an urban bed and breakfast would be cool for the main house on this property. Do we even have an urban B & B in OKC?

What a great idea! Someone do this, please! I have $100 I can invest!

[chuck5815]

Do you think the price of oil really killed the deal or was it the bad publicity?

low oil prices sure don't seem to be stopping other developers. it seems like a rather convenient excuse, though.

[zookeeper]

This property is priceless and must be preserved. Remember, there are men in this town who could pay cash for this and it be a rounding error come tax time.
The long discussed museum of Oklahoma City history?

[Spartan]

I think they should do an OKC hostel in one bldg, a coeorking business incubator in another bldg, and a bed and breakfast in a third. Etc. Find small but active uses for each. This could be a very vibrant campus. A historic quad right on the streetcar, surrounded by mixed-use. Use TIF and historic and new markets tax credits and maybe work with an economic development agency to connect coworking tenants to micro loans and VC.

There are some great resources that this project could uniquely leverage to create furthermore long term real estate value. Villa Teresa could be a really special asset that makes Midtown unique. You throw money down the drain by tearing down something like this.

[soonerguru]

LOL, it just amazes me how some here would rather this end up wrong than support anything Steve says.

Be specific. What are you saying?