Villa Teresa

[Teo9969]

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.

Would love multiple hostels in OKC, but the first one really needs to be in Bricktown, unless it's going to happen 10 years from now. I mean, a hostel down there would have a chance of having full occupancy 365 days a year simply by selling $10-$15 beds to people are absolutely trashed and don't want to drive home, let alone young/single/hostel-type travelers.

[ljbab728]

Be specific. What are you saying?

What I said was very plain. I see no need for further explanation.

[Spartan]

Would love multiple hostels in OKC, but the first one really needs to be in Bricktown, unless it's going to happen 10 years from now. I mean, a hostel down there would have a chance of having full occupancy 365 days a year simply by selling $10-$15 beds to people are absolutely trashed and don't want to drive home, let alone young/single/hostel-type travelers.

Bricktown is not at all the kind of scene for most hostels. Besides I don't think Bricktown would want to endanger the family friendly vibe they have with a bunch of hipster student troubadours. And try $30-35 a night actually.

[Pete]

Film Row would be a great place for a hostel.

[Spartan]

I second that, but they tend to work best when integrated into larger complexes or campuses of "innovation." There needs to be a wraparound component to make it work in a city that isn't already a travel hotspot..

Not saying Villa Teresa is the only place it could work but it is the best opportunity currently available. VT will have the right mixed use surroundings, nearby institutions w hotel needs, other nearby options that serve totally different niches (boutique hotel), excellent bar mix, primo transit access, and walking distance to Plaza (where most hostel-stayers will want to go).

OKC also has a huge need for a coworking incubator. These are huge economic development engines in similar cities. Instead we are paying off oil companies and Boeing - exactly the strategy that we like to think MAPS replaced.

These more social, open uses are perfect for these awkwardly-sized buildings that can't be easily carved into traditional suites.

[Teo9969]

I second that, but they tend to work best when integrated into larger complexes or campuses of "innovation." There needs to be a wraparound component to make it work in a city that isn't already a travel hotspot..

Not saying Villa Teresa is the only place it could work but it is the best opportunity currently available. VT will have the right mixed use surroundings, nearby institutions w hotel needs, other nearby options that serve totally different niches (boutique hotel), excellent bar mix, primo transit access, and walking distance to Plaza (where most hostel-stayers will want to go).

OKC also has a huge need for a coworking incubator. These are huge economic development engines in similar cities. Instead we are paying off oil companies and Boeing - exactly the strategy that we like to think MAPS replaced.

These more social, open uses are perfect for these awkwardly-sized buildings that can't be easily carved into traditional suites.

Any non-downtown district will need a direct transit line for a typical hostel user to go that direction. At least right now…I'd guess we're no less than 5 years away from 13th/Shartel to 16th/Blackwelder being genuinely walkable. And everything else in Midtown is pretty far away as well, especially the entertainment options. The best place to put a Hostel in Midtown would be in whatever future project goes on the block where Bleu Garten is currently located.

I could see Film Row assuming that the Fred Hall stuff goes up without a hitch. It would be cool to be so close to the Art Museum and Civic Center.

[sooner88]

Any non-downtown district will need a direct transit line for a typical hostel user to go that direction. At least right now…I'd guess we're no less than 5 years away from 13th/Shartel to 16th/Blackwelder being genuinely walkable. And everything else in Midtown is pretty far away as well, especially the entertainment options. The best place to put a Hostel in Midtown would be in whatever future project goes on the block where Bleu Garten is currently located.

I could see Film Row assuming that the Fred Hall stuff goes up without a hitch. It would be cool to be so close to the Art Museum and Civic Center.

You're not going to be able to put something like a hostel in a prime location like that, it would be very difficult to cash flow. I also don't think people who are staying in a hostel expect to stay in a prime location and pay hostel prices... but being within a few blocks walking distance is more reasonable.

[Spartan]

I'm confused. St. Anthony will have a substantial streetcar station right by Villa Teresa. The site is nothing short of perfect. Really anything along 10th...

[Teo9969]

You're probably right. I think my mind places Villa Teresa so much further from the action than it really is, but 1. I assume the hostel portion would be closer to 11th anyway (where I was visualizing nearer 13th) and 2. The built environment would feel a lot different than it currently does by the time a hostel was finished.

[ljbab728]

This might be a good location for a hostel but is that a financially viable option for this site for an investor and developer?

[Spartan]

We don't know what kind of hotel Elliott deemed un feasible, but the point is there are different lodging models that could work. It's also about the overall vision that surrounds it.

[ljbab728]

Steve's latest comments about Villa Teresa.

http://www.oklahoman.com/article/545...0real%20estate

Let the bashing begin from those who are so inclined.

[Teo9969]

I get the sense that some think that hostel cash flow pales in comparison to hotels…I haven't done an investigative thesis by any means, but I'm pretty damn sure that that isn't the case. Indeed, I imagine it would be relatively easy to cash flow, and potentially better than an economy hotel.

Yet another reason it would work better in Bricktown is the close nature of ACM-UCO.

[Canoe]

Hostels=Bed Bugs in my mind.

[Teo9969]

Hostels=Bed Bugs in my mind.

Travel Myth - Hostels Will Have Bed Bugs

I've stayed in at least 20 hostels and only 1 of them had bed bugs (which I left the next day).

[oklip955]

Cannot read the Daily Oklahoman article.

[ljbab728]

Cannot read the Daily Oklahoman article.

Getting a subscription will solve that problem.

[Pete]

This property is now actively being marketed but at an undisclosed price:

[Spartan]

Looks like a decent amount of room for three triangle-shaped bldgs, which could be distinctive there.

[UnFrSaKn]

http://newsok.com/developer-buys-vil...rticle/5562995

[Pete]

^

I'm glad to see this in good hands and with plans to preserve it.

I called them today because I had heard about the sale but they were unwilling to provide any details.

I believe the architect mentioned is ADG.

[DoctorTaco]

http://newsok.com/developer-buys-vil...rticle/5562995

This is good news, in that it puts the property out of harms way. But it is not good news for reactivating the space. You don't have to think very hard to find Marva Ellard projects that appear to be in permanent hiatus :

• Sunbeam Headquarters
• Sunbeam Group Home remodel to single family
• Houses near the Pump on 24th

This sit idle for what reason? I know some are hard (Sunbeam Headquarters) but some others are quick wins that also sit idle. Why?

[citi]

sunbeam group home https://www.zillow.com/homedetails/6...frwgqps9_7lwvs

[Pete]

sunbeam group home https://www.zillow.com/homedetails/6...frwgqps9_7lwvs

That is one of 3 group homes acquired with the Sunbeam properties.

Glad to see it redone. Has there been any movement on the other 2?

[warreng88]

Villa Teresa sold for $5.5 million

By: Molly M. Fleming The Journal Record September 6, 2017

OKLAHOMA CITY – Villa Teresa has a new owner.

The former Catholic school was bought Tuesday by Marva Ellard and development partner Billy Woodring. The six-building property between Classen Boulevard and N. Dewey Avenue was sold for $5.5 million.

In 2015, Ross Group Construction Corp. bought the property for $4.75 million. The company immediately relisted the property. Newmark Grubb Levy Strange Beffort brokers Brad Rice and Andy Burnett handled the transaction. Rice said the property attracted a lot of interested buyers, both in-state and out-of-state.

He said Ellard was the best choice to buy the property because of her plans to redevelop it with existing structures. In addition, she’s familiar with the surrounding area.

“We really tried in our marketing to let (a potential buyer) know that the community around here has a vested interest in someone developing the buildings,” he said.

A couple of potential buyers were turned away because they wanted to tear down the buildings and construct new apartments, Rice said.

Ellard said when the property was sold in 2015, she was concerned about its future. That’s why she was interested in redeveloping it into a boutique hotel and town houses. The site plan is still in the works.

“I really care about that site,” she said. “You can’t do a whole lot better than what’s already there. I think it’s a beautiful campus. I want to enhance it.”

Ellard is best known for redeveloping the Midtown-area Sieber Hotel into apartments. She bought the boarded-up building at auction in 1997. She spent more than $8 million on turning the 80 hotel rooms into 30 apartments and The Grocery Building into eight loft-style units.

The Villa Teresa 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 Therese of the 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.

The campus is not on the National Register of Historic Places. Ellard is working with the State Historic Preservation Office to list the entire site as one listing.

The new construction will be along Dewey Avenue.

“That’s a street that people haven’t been able to see for a long time,” she said. “We think this is a fabulous location with the streetcar coming in.”

With a mix of a boutique hotel, town houses, and condominiums, there could be a planned unit development application sought, or some other type of mixed-unit zoning. Ellard said that application will likely go before the Downtown Design Review Committee by year’s end.