Urban 8

[TulsaGoldenHurriCAN]

Has anyone heard anything else about these?

[erfalf]

How do these prices compare to those around Cherry Street. These appear huge, so I am guessing much more expensive. If similar, that would be a bad indicator of the perception of downtown Tulsa. Because these are in as good of an area of downtown as they could get. Just several blocks from Blue Dome. It's on 3rd which is transforming in front of our eyes.

Are they quit simply just too big?

[SXSW]

I think they are too big, and thus too expensive, for those considering living downtown in this redeveloping area without any amenities (pool, etc).  Smart developers would be aiming for the 2/3 bed town homes but fit them in under 2000 SF by making them skinny (<12 ft wide).  I wish basements were more common in Tulsa because that's a perfect spot for a 3rd bedroom or storage. 

The market is there for young professionals or couples starting out but you risk pricing them out if you go above $200/SF.  You can get older houses that have been redone in midtown (which is more desirable at this point) around $150/SF.  IMO the empty lots in Riverview have better townhouse potential (at least right now) than anywhere inside the IDL.

[TulsaGoldenHurriCAN]

How do these prices compare to those around Cherry Street. These appear huge, so I am guessing much more expensive. If similar, that would be a bad indicator of the perception of downtown Tulsa. Because these are in as good of an area of downtown as they could get. Just several blocks from Blue Dome. It's on 3rd which is transforming in front of our eyes.

Are they quit simply just too big?

They are about the same size and far more expensive than condos on Cherry St (which mostly range from ~$200-$450k).

Check out this 2154 sqare foot place which sold for $300k recently right off of Cherry St which has much higher walkability ratings than downtown:
http://www.zillow.com/homedetails/1405-S-Quincy-Ave-Tulsa-OK-74120/22102120_zpid/

Another one by there that is much nicer with 2000 sq feet and garage apartment just for $400k after being up for a couple days:
http://www.zillow.com/homedetails/1411-S-Rockford-Ave-Tulsa-OK-74120/89358526_zpid/

Either of these is better urban living now and at a price point the downtown condos can't compete with and these are both better at just about every disadvantage I listed above (private parking garage with 3+ spaces, quiet, private, more established resale market, great yards). If I was looking to buy something like that, I would look at walk ability scores and overall amenities nearby along with what you get for the price. Cherry St is rated much better right now and more consistently lively overall. Downtown to cherry st is the minimum cab fare (~$3.5-$5), will be connected via rapid transit and only a few minute drive or 10-minute bike ride.

If I were buying urban now, I would be happier living in Cherry St a couple years and moving to downtown after a lot of the big items are completed and the urban 8s are being foreclosed on. Seriously though, downtown has a major shortage of affordable condos in the $100-$350k range (there are zero in the IDL besides Central Park condos which are bad). Why can't any developer build a condo building with housing people working normal great jobs can afford to buy? There would certainly be a market for that.

[TulsaGoldenHurriCAN]

How do these prices compare to those around Cherry Street. These appear huge, so I am guessing much more expensive. If similar, that would be a bad indicator of the perception of downtown Tulsa. Because these are in as good of an area of downtown as they could get. Just several blocks from Blue Dome. It's on 3rd which is transforming in front of our eyes.

Are they quit simply just too big?

Most Cherry St Condos are $120-$150/ft2. The one I linked above for $400k was exceptionally nice and was closer to $200/ft2 (GreenArch designed efficient duplex-condo with a grass roof and high end design).

[Bamboo World]

Seriously though, downtown has a major shortage of affordable condos in the $100-$350k range (there are zero in the IDL besides Central Park condos which are bad).

According to 100 Boulder's website, there are nine units for sale in the $209,000 to $226,000 range.

[hello]

According to 100 Boulder's website, there are nine units for sale in the $209,000 to $226,000 range.

Who wants to pay that much for a studio apartment? 

[swake]

Who wants to pay that much for a studio apartment? 

The Soviets would be challenged to build something as bad as that crapfest.

[TulsaGoldenHurriCAN]

According to 100 Boulder's website, there are nine units for sale in the $209,000 to $226,000 range.

I had assumed those had all sold because they are no longer listed in the MLS. Maybe they had extended the allowable sale time?

Those don't look like 1000ft2. A typical ~1000 ft2 cottage in midtown is 2 bed/1 bath. That place doesn't even look very spacious, especially for a 1000 ft2 studio. Maybe because the stairs take up a lot of that and the bath/laundry area is pretty large, but still compared to other small 2 bed/1 bath houses I've been in recently, it looks much smaller. I agree, who would pay that much for a studio. Seems like a 1 or 2 bedroom would've been better.

I know a lot of people gave this place flack for being only 2 story and the fact they've only sold 9 of 18 after this many years shows they should've built up a bit to get more of a bulk savings discount for the land and obviously (based on 8 of those sold are on 2nd floor), higher up is strongly preferred so floors 3-4 would've been even more highly sought after and with that many, maybe the price can be reduced to $160-$180k which vastly opens up the market. Maybe parking was the limiting factor.

[Cats Cats Cats]

The phone number is disconnected I heard from somebody. Also heard rumors they are pretty close to going under. That was a month ago I heard the going under part and a week for the number being disconnected.

[TulsaGoldenHurriCAN]

The phone number is disconnected I heard from somebody. Also heard rumors they are pretty close to going under. That was a month ago I heard the going under part and a week for the number being disconnected.

Urban8 or 100 Boulder?

[Cats Cats Cats]

Urban 8

[Bamboo World]

I had assumed those [100 Boulder condos] had all sold because they are no longer listed in the MLS. Maybe they had extended the allowable sale time?

The last time I checked, a few weeks ago, only four had sold.  100 Boulder LLC owned fourteen of the eighteen.

Those don't look like 1000ft2. A typical ~1000 ft2 cottage in midtown is 2 bed/1 bath. That place doesn't even look very spacious, especially for a 1000 ft2 studio. Maybe because the stairs take up a lot of that and the bath/laundry area is pretty large, but still compared to other small 2 bed/1 bath houses I've been in recently, it looks much smaller. I agree, who would pay that much for a studio.

I don't know how large the 100 Boulder condo units are.  They seem small to me, and I wouldn't pay that much for a studio.  In my opinion, 100 Boulder is an awful development.  My reply was to this:

Seriously though, downtown has a major shortage of affordable condos in the $100-$350k range (there are zero in the IDL besides Central Park condos which are bad).

There aren't many condos within the $100,000 to $350,000 price range inside the IDL other than Central Park, but nine is more than zero.

[DowntownDan]

I don't understand why a grocer or pharmacy hasn't opened downtown, but condos like this keep going up.  A grocer or pharmacy would seem to have some risks but could probably succeed with the current level of apartment dwellers and possibly some business from workers.  But Urban 8 and the tiny Boulder 100 or whatever its called seemed certain to fail.  Who would finance such obvious risks?

[erfalf]

I don't understand why a grocer or pharmacy hasn't opened downtown, but condos like this keep going up.  A grocer or pharmacy would seem to have some risks but could probably succeed with the current level of apartment dwellers and possibly some business from workers.  But Urban 8 and the tiny Boulder 100 or whatever its called seemed certain to fail.  Who would finance such obvious risks?

THIS

Do these developers own banks or something. I understand the draw to high value condos (ie highest profit potential). But don't they know they won't sell there?

On the flip side, do you think if they plunked Utica Place down at this very same spot (as Urban , do they sell the penthouses for the same (or anywhere near as close) price as they do where they are currently located?