Apartment demand is up!

[Patrick]

I have been looking at apartment complexes lately. I attend school at OUHSC, near downtown. Because my future wife and I are on a tight budget we're looking for a large 1 bed or 2 bed apartment for no more than $600 a month.

Obviously, we've been looking for something close to downtown, a quality apartment, but for a decent price. Unfortunately we haven't found a lot of quality apartments for an affordable price. Deep Deuce, although nice, is quite pricey. Same can be said about other downtown complexes.

We've also looked in other inner city areas. The only really nice complex in the area is Copperfield at NW 30th and Villa, and possibly Coventry Cove, off NW 50th and Hudson.

We've looked further out around the Quail Springs area. All of the newer complexes are way over our price range, and most of the older complexes are not well maintained.

Another problem we've found is lack of availability.

Seems like with the huge void of decent middle income apartment complexes in our city, and the long waiting lists at many complexes, areas like the Oklahoma River, and Memorial Road would be ripe for apartment development.
I hope some apartment developers give the Oklahoma River strong consideration. If they don't, when I become a doctor, I'm going to build my own apartment complex on the river and make a bundle of money!

If I lived in Tulsa now, I'd strongly consider living on Riverside Drive. The apartments on the river are in a pretty decent area, and many of them aren't that expensive. In fact, many complexes on the river are cheaper than those around the 71st and Memorial area.

OKC needs a bigger selection of apartments to choose from. Developing our river with apartments would be a start.

[Jay]

Try here this is where I live. The property is well maintained, the staff is very friendly, maintence responds quickly and the people are very friendly as well as courteous. It salmost always quiet around here. The price is great and there are many things that are all with in 5-10 minutes of here. Such as shopping, entertainment and places to eat. You have about a 8 minute drive to NW Expressway (all kinds of places to go between Rockwell and County line.) and about 5 minutes from the Quail Springs area. You also have easy access to the Kilpatrick and Hefner parkway.

http://www.apartmentguide.com/Proper...lse&wsv_qsSFlg=


Or try any of these properties

A friend of mine lives at Legacy Crossing she loves it.

http://www.apartmentguide.com/Proper...lse&wsv_qsSFlg=

http://www.apartmentguide.com/Proper...lse&wsv_qsSFlg=


http://www.apartmentguide.com/Proper...lse&wsv_qsSFlg=

[Midtowner]

Patrick, there are various flats/old apartment houses around the area. You might want to try those.

[metro]

Also try the Regency tower downtown, I know a one bed is $500 a month with all bills paid. Plus you have an awesome view of downtown and the OKC Memorial.

[Midtowner]

If you have anything larger than a compact car, I've heard their parking garage is horrible.

[Jay]

I would definitely stay away from anything that is all bills paid.( or as they say "all bill paid")
Those places are dirtbag magnets, Vintage Lakes in the village is a prime example.

[Sooner&RiceGrad]

I tihnk there are some new apartments plannedfor SE 4th Street, in Moore, sorta out by Sunnylane. Westmoore has a handful of nice ones, most everything that is nice, and suburban will be on Memorial, or NW 122nd.

[floater]

Anybody know what the price range will be for Legacy Summit at Arts Central? I think it would be a great community to consider when they start pre-leasing.

[Jay]

Now that you mention Moore I forgot about the one on 19th and Santa Fe. That complex is nice it has a golf course and country club. I think the rates start at $475.

[mranderson]

Now that you mention Moore I forgot about the one on 19th and Santa Fe. That complex is nice it has a golf course and country club. I think the rates start at $475.

Yes. They are pretty much low end for a newly built complex and they do not take pets. I looked when I thought I was going to need to move for six months. The pet policy is one of the reasons I would have said no.

Plus. I really do not understand why more people do not realize they can buy a house for the same amount they pay in rent... Plus it is theirs. Not some property owner who will only put grabage product in them.

[Midtowner]

You're right Anderson... I could afford a pretty nice house for what I pay in rent..

I ran the numbers once, I could go 150K or so on a house on a 30-year note. I just couldn't have the same location/lifestyle.

I've heard that they're rennovating the tower at 23rd and Classen to build condos. If that's true, I'd absolutely love a condo there.

[Sooner&RiceGrad]

Crime...

[mranderson]

Crime...

Could you elaborate, please.

[Midtowner]

Crime...

Actually, that area is improving a lot.

[Sooner&RiceGrad]

It's still not like Bricktown or Moore, or Memorial, or Norman.

[windowphobe]

It's true; Richard Tanenbaum, he who engineered the return of The Montgomery downtown, is also behind the condo conversion of what, as of last summer anyway, was scheduled to be called "The Classen."

And "behind" is the operative word, since he was hoping to have renovations started by now.

[Midtowner]

Any info on pricing per unit yet?

[Midtowner]

Found it:

22 July 2004
Going up

Richard Tanenbaum wants you to live downtown.

Seriously. A year ago, he bought the mostly-vacant Montgomery Ward building at Main and Walker, a classic Art Deco structure on the National Register of Historic Places, and started the process of turning it into "The Montgomery," featuring about five dozen upscale apartments with a restaurant and a gallery downstairs.

This spring, Tanenbaum bought the former Citizens Tower at 21st and Classen; this week, the Oklahoma City Council approved rezoning the Tower, which will be renamed "The Classen" and divided into about 100 condos in the $130k range. It's not actually downtown, but it's very close — two miles to the business district, two and a half to Bricktown — and the view, says Tanenbaum, should be spectacular.

The plan for The Classen varies somewhat from initial speculation, which called for fewer but larger residences. Tanenbaum expects to have units for sale by next spring.

****

Nice blog site:

http://www.dustbury.com/archives/002900.html

[windowphobe]

I knew I'd seen that somewhere.

[Midtowner]

Again, I really enjoyed your blog. Found it when randomly googling terms like "The Classen", "Oklahoma City", etc.

Was definitely the most informative on the subject. I enjoyed the other content as well.

[Patrick]

Try here this is where I live. The property is well maintained, the staff is very friendly, maintence responds quickly and the people are very friendly as well as courteous. It salmost always quiet around here. The price is great and there are many things that are all with in 5-10 minutes of here. Such as shopping, entertainment and places to eat. You have about a 8 minute drive to NW Expressway (all kinds of places to go between Rockwell and County line.) and about 5 minutes from the Quail Springs area. You also have easy access to the Kilpatrick and Hefner parkway.

Thanks for the suggestion oklacity75. It's funny that you mention this, because we've actually visited your complex about 4 times now. We actually visited there yesterday. We were looking at the 2 bed 1 bath, and 2 bed 2 bath units. Not too bad. Case has really kept that property up, considering how old it is.

It's towards the top of our list, although right now we're considering renting a condo at the Summit, just north of Hefner off May Ave. The Summit is more expensive than The Warrington, but they're pretty nice, and well worth the cost.

Warrington or Deer Creek Condos are my next choice though if Summit doesn't work out. I wish I could afford Crowne Pointe next door to you or The Gables across the street from you. Oh well....maybe someday!

Thanks again for the input.

I actually have another question about the Warrington, but I think I'll just send you a PM.

[Patrick]

By the way, I would consider the downtown area, i.e., Regency Tower, but my fiancee is a north side girl. It isn't that she doesn't like downtown, she just has security concerns about living down there. Of course, if it were jsut me, I wouldn't mind...I think the views of downtown would be great! But, whatever works for her.

We're looking more the way of oklacity75 right now.

[Patrick]

Plus. I really do not understand why more people do not realize they can buy a house for the same amount they pay in rent... Plus it is theirs. Not some property owner who will only put grabage product in them.

Owning a home comes with a lot of responsiblities and headaches. Properly maintaining a house can cost a bundle. Unfortunately, many young people don't consider maintenance when buying. That's why often they get in way over their heads. Also, having to deal with repairs can be a headache. It's nice being able to call apartment maintenance to come and fix things, especially when the maintenance staff is good.

Also, I personally don't have the time to take care of a yard. Sure, I could hire someone, but that's just something else to worry about.

I agree that owning a home is a good investment, and I will buy a home in the future, but I want to build up some wealth first so I can afford to move into a nicer home, that I can properly maintain.

One must also have a good credit history to qualify for a loan. Most couples starting out haven't had a chance to build a strong credit history. Thus, an apartment is probably a better option to start.

[Midtowner]

By the way, I would consider the downtown area, i.e., Regency Tower, but my fiancee is a north side girl. It isn't that she doesn't like downtown, she just has security concerns about living down there. Of course, if it were jsut me, I wouldn't mind...I think the views of downtown would be great! But, whatever works for her.

We're looking more the way of oklacity75 right now.

Have her do a crimetracker search of an area downtown vs. where she wants to live on the Northside. Those super apartment complexes down there are surprisingly high in crime. My girlfriend used to live in some apartments at 15th & Kelly in Edmond. The crime rate there was MUCH higher than it is here in the Arts District.

[Patrick]

I actually agree with you on this Midtowner. I don't think it's the crime rate she's necessarily looking at though. I think it's more the presence of homeless people walking the streets that bothers her. You don't find that in far NW areas of the city and Edmond.

Like I said though, I'd enjoy living downtown. The only drawback I guess is that there isn't a grocery store downtown. This still needs to be remedied.