Urban 8

[Bamboo World]

Minor update from TDA Executive Report for February, posted today:

A. Tulsa Urban Development Group, LLC, d/b/a Urban8
North side of East 3rd Street South, between South Greenwood Avenue and South
Kenosha Street
8 Single Family Dwellings
TDA Land Disposition
• The Redeveloper continues to work on task to complete the project
• Unit No. 2 is currently undergoing an interior buildout
• The walls are ready to be painted
• Cabinets are being delivered
• All doors and trim are being installed
• Wood floors have also been installed throughout
• The geo-thermo heat exchange equipment has been delivered, installed and
currently operational in units No. 2 and No. 7

http://www.tulsadevelopmentauthority.org/wp-content/uploads/2015/10/Executive-Director-Report-10.pdf

Thanks for the "minor" update, cannon_fodder.

The update from TDA confirms what I've been posting for months:  The project is not complete.  The project is not done.  The project is not finished yet.

[Conan71]

Thanks for the "minor" update, cannon_fodder.

The update from TDA confirms what I've been posting for months:  The project is not complete.  The project is not done.  The project is not finished yet.

You are being a bit vague, Boo.  Do you mean the project has not reached its climax?

[Bamboo World]

You are being a bit vague, Boo.  Do you mean the project has not reached its climax?

What I mean is that (to me) the project does not seem to be complete, although TulsaNow posted a completion date of March 2016:  http://tulsanow.org/index.php/urban-8/

I don't understand the purpose of prematurely throwing out and posting an early completion date for a project which hasn't been completed yet.  Six of the eight units seem to be on the market for purchase, but have never sold.  Seven of the eight units seem to be unoccupied.

Also, (to me) the Urban 8 buildings do not appear to be an austere Empire-Strikes-Back black.  The Urban 8 buildings do not appear (to me) to be any austere color at all, and definitely not black.

In my opinion, the Urban 8 units are overpriced for what they are now (or what they might be when they're finished), at that particular location.  For the asking price, there apparently isn't demand for that type of housing in downtown Tulsa.  That's why Urban 8 has sat idle and vacant for so long, while the nearby Boxyard project has been completed and has been filling up with tenants.  
 

[AdamsHall]

It appears 3 units have sold now, not including the model unit on the East end.

[swake]

It appears 3 units have sold now, not including the model unit on the East end.

Wow, that's great news.

Any idea how much they sold for?

[AdamsHall]

Any idea how much they sold for?

No clue.

[dbacksfan 2.0]

According to the Assessors site, the one on the east end sold in April of 2016 for $900,000.00.

http://www.assessor.tulsacounty.org/assessor-property.php?account=R42310920145070&return=close

Also, according to Trulia, two other units have sold for ~$600k.

https://www.trulia.com/for_sale/36.155187658607,36.156772916349,-95.984823976765,-95.982678209553_xy/19_zm/

[TulsaGoldenHurriCAN]

According to the Assessors site, the one on the east end sold in April of 2016 for $900,000.00.

http://www.assessor.tulsacounty.org/assessor-property.php?account=R42310920145070&return=close

Also, according to Trulia, two other units have sold for ~$600k.

https://www.trulia.com/for_sale/36.155187658607,36.156772916349,-95.984823976765,-95.982678209553_xy/19_zm/

$600k sounds like an amazing deal, but from walking by them, looking inside, and hearing from someone with knowledge of these, the interiors were not completed so after everything is done, it should cost the new owners closer to $650-700k or so, depending on how nice they want them. Still a great deal when you consider everything planned for the area, but hard to imagine they made much money on this development.

The east unit that sold for $900k was sold to the original developer,  Yvonne Hovell.

[dbacksfan 2.0]

$600k sounds like an amazing deal, but from walking by them, looking inside, and hearing from someone with knowledge of these, the interiors were not completed so after everything is done, it should cost the new owners closer to $650-700k or so, depending on how nice they want them. Still a great deal when you consider everything planned for the area, but hard to imagine they made much money on this development.

The east unit that sold for $900k was sold to the original developer,  Yvonne Hovell.

Didn't know that about the east unit. Admittedly I did not reread the thread, I might have found that. Time will tell, but you could be very right on the price for the other two. It seems like that area is doing well, and paying slightly above market may payoff in the long run. If it was me, I would treaty it as a buy and hold, and see what the market is like at least five years down the road.

[heironymouspasparagus]

Didn't know that about the east unit. Admittedly I did not reread the thread, I might have found that. Time will tell, but you could be very right on the price for the other two. It seems like that area is doing well, and paying slightly above market may payoff in the long run. If it was me, I would treaty it as a buy and hold, and see what the market is like at least five years down the road.

I see by your avatar picture that you have been "Photobucketed"....   Happening a lot the last couple of weeks.

Anyone know of a GOOD photo sharing site - either free or reasonable cost?

[Ibanez]

I see by your avatar picture that you have been "Photobucketed"....   Happening a lot the last couple of weeks.

Anyone know of a GOOD photo sharing site - either free or reasonable cost?

If you just want to share the occasional pic http://imgur.com/

[dbacksfan 2.0]

I see by your avatar picture that you have been "Photobucketed"....   Happening a lot the last couple of weeks.

Anyone know of a GOOD photo sharing site - either free or reasonable cost?

Yeah, it really sucks on an automotive forum I'm a member of. So many lost the links to photos showing issues to take care of things and we all refuse to pay the $400.00/yr ransom.

I went with smugmug. Very reasonable several tiers and easy to use. I can post pictures in different sizes to fit the particular forum without having to alter the original, it has different levels of right click security for sharing albums, from no security to all you can do is view the photos.

https://www.smugmug.com/

[heironymouspasparagus]

Yeah, it really sucks on an automotive forum I'm a member of. So many lost the links to photos showing issues to take care of things and we all refuse to pay the $400.00/yr ransom.

I went with smugmug. Very reasonable several tiers and easy to use. I can post pictures in different sizes to fit the particular forum without having to alter the original, it has different levels of right click security for sharing albums, from no security to all you can do is view the photos.

https://www.smugmug.com/

Smugmug is the one I keep drifting back to every time I search.  Guess I will just go ahead and join.

Forum I go to has the same problem - most of the pics are just gone.  For some reason, mine are still there, but I am expecting them to disappear any day!

[Townsend]

Smugmug is the one I keep drifting back to every time I search. 

Speaking of drift...

[heironymouspasparagus]

Speaking of drift...

Yeah!   Good catch!