According to the county assessor, Roberts purchased the 24 acres on 8/29/16. I saw dirt work going on in front of it recently, but didn't know what for. Stupid me thought it Hoffman building some sort of bike track in front of his house.

White house given new purpose

By: Molly M. Fleming The Journal Record October 19, 2017

EDMOND – A white house on N. Western Avenue is being given a new purpose by home developer Bill Roberts.

Roberts purchased the home just north of NW 150th Street in August 2016. The 5,435-square-foot home was built in 1991 and came with nearly 24 acres of land.

“The location is fantastic, especially with Chisholm Creek down the street,” Roberts said.

The home belonged to the parents of professional BMX racer Mat Hoffman. Roberts said the Hoffmans are going to build a home behind the white house on a small parcel.

Roberts is building the Waterstone residential development on the property. He is constructing 81 courtyard-style homes, each measuring about 3,000 square feet. The homes will have a small yard on one side, measuring about 1,000 to 1,200 square feet. Lawn service and outdoor maintenance are part of the amenities package.

The existing white house will be updated to be the development’s clubhouse, with room for parties and a fitness area.

“This is for people whose kids have left the house and are thinking about retiring or are young professionals,” he said.

Site work has started, and roads are already under construction. Roberts said he hopes to start building homes in December. They will be priced at $550,000.

In the local market, homes at that price point have seen a slowdown in sales and are waiting several months for a new owner. Lower-priced homes at $250,000 or less are sold in a few months.

Re/Max Associates Realtor Brian Preston said he thinks the Waterstone development will be attractive to some buyers, but the competition is tough. There are 364 homes listed at $500,000 or more, according to Preston’s August report. The $500,000-to-$700,000 range is the most active, at 187 listings.

“We have such diverse buyers,” Preston said. “Some people don’t want to take care of a yard. There are a lot of businesspeople that like luxury and nice things, but they don’t want to take care of a yard.”

He said McCaleb Homes built an all-amenities type of development, but those properties sold for about $250,000. He said he has a client who’s looking for a low-maintenance home at a targeted price of $300,000.

Roberts said he thinks the amenities will help the homes sell better than others in a similar price range.

“We think with this location, we can overcome all those obstacles,” he said. “A lot of our clients in Muirfield Village and Edinburgh bought there so they could go to other houses and know everything will be taken care of.”

Roberts plans to have four speculative properties available, but owners can choose from different home styles. There will also be a community pool and 4-acre green space behind the white home.