Davenport Urban Lofts

[swake]

Don't attribute words to me which I didn't say. I did not say those parts were awful, just that they were worse than the spot where the 4,200 square foot stand-alone house is by the BOK Center. I'd rather live in that spot than those others I mentioned. None are that bad, but that location is ideal for getting to much more key parts of downtown.

Davenport is also the same distance to John 3:16 mission or 1 block from the empty post-apocalyptic-looking wasteland north of I244. So not exactly a great spot either. The stand-alone house is a far better product that was for sale for several years, but they think they'll get quadruple the price based on a bit better location alone?


Once again, you're falsely attributing words to people. They did not say the condos would be $450k. They said "starting at" $450k and listed the range from around 1,600 to 2,600 square feet. The price was never announced to be anywhere close to $200k.

The most expensive units are $985,000 for 2,480 square feet which is right at $400/square foot.

Reading is fundamental.

Conan posted about $450 a square foot. Not $450k. And four years ago they were talking about 2,000 square foot units, not 1,600. So when I told Conan the price was more like half of the $450 s/f he posted, I was correct based on the info at the time.

Since then the prices have gone up and the size of the units have gone down increasing the s/f price

[DTowner]

Sheesh.  In the end the value of this house in a neighborhood of one next to the Veolia steam plant (which is very loud at times) was determined by the market, just like the Davenport condos will be.  It seems obvious the house on Guthrie was not widely viewed as desirable.  Given the sluggish sales at Davenport, the market is not giving those a ringing endorsement either.  To me the question is why, in spite of a maturing downtown housing market, there seems to be a general reluctance of folks to buy.  You can nick pick the cost, location or style of every one of the downtown projects, but they all seem to suffer the same underlying problem.  I would like to know the cause, but so far have not found the answer.

[D-TownTulsan]

This is actually a great little project. To me it seems very similar to The Case Building in Deep Ellum here. A nice mid-rise building in a more grungy part of town. A little more mild that Deep Ellum but still cool, and will add a little bit to the skyline.

[TulsaGoldenHurriCAN]

I said "virtually no demand" and was referring to buying. As evidenced by Urban 8 being on the market for over 5 years and Davenport being on the market 4 years. I don't see any demand or offering of high priced housing downtown even close to what the monthly payment on these will be (~$4,500-$6,000/month excluding HOA). There's only 2 units above $3k downtown and they have 2,800 ft2, far more than the 1,700 ft2 you'd get with Davenport units, and aren't even finished yet. There are a few ~$2500 which could be considered high end, but those are about half of what the Davenport monthly payments would be so not even a good comparison.

Considering the current options, the smart choice for those who want to live in luxury places downtown is to rent. $2,000/month for a high end place is far better than a $4,500 mortgage payment for almost the same thing in terms of space and location. Plus you can move in now. Philtower has some amazing well-priced options when available.

This article is about the most expensive apartments in downtown I was referring to (which are still far cheaper than the mortgage on any of the Davenport lofts will be, $4k vs $6k):

Luxury lofts will gauge demand for family housing in downtown Tulsa


Taking the first public tours of the new 111 Lofts this weekend, Tulsans oohed and aahed over some of the plush amenities. Oversized bathtubs. High ceilings, reaching 14 feet in some units. And walk-in closets big enough to host cocktail parties in them.

"You can use it as a study," the property manager suggested. And still have room for all your clothes.

But the most remarkable part of this apartment comes at the end of the hallway, past the pantry and the half bathroom. There's a third bedroom.



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Downtown housing has been growing for nearly two decades now, since the Tribune Lofts helped pioneer revitalization in 2001. But it has always catered mostly to childless young professionals and empty-nesters.

Families with young children haven't been entirely left out, but their options have been limited inside the IDL.

The 111 Lofts, converting a historic 10-story office building at Fifth Street and Boulder Avenue, will offer the usual one- and two-bedroom units, along with tiny efficiencies, all with sweeping views of the skyline. But the 111 will also include several three-bedroom apartments with more than 2,600 square feet. And the developer, Price Family Properties, has already leased nearly half of them, even though move-ins won't start until this summer.

Stuart Price himself admits the three-bedroom units, renting for $4,000 a month, aren't exactly priced for middle-class families.

"I can't afford one," he says, only half jokingly.

But innovation tends to start at the high end of a market. Early VCRs cost more than $1,000 in the 1980s. And the first Motorola cellphone retailed for $3,995.

If the 111 Lofts can prove there's demand for family housing downtown, other developments will follow, and increasing supply will drive down the costs.

You can find several three-bedroom units for rent in Oklahoma City for less than $2,500 and some for less than $1,600. At prices like that, downtown Tulsa could truly become a place for all ages.

https://www.tulsaworld.com/news/local/michael-overall-luxury-lofts-will-gauge-demand-for-family-housing/article_95b53b08-1112-57c8-bebe-b687cba30a1e.html

[Jacobei]

I volunteered for the Dwell in the IDL thing and went on the tour.  In the 111 only one of them was actually 3 bed.  The other was more like 2.5 bed

But my god, would I love to live there if I could.

[Jacobei]

As an update, All of the concrete that was there before is gone and a construction fence is up.

[shavethewhales]

Progress photo from yesterday. Still not sure how I feel about this, but will be interesting to watch it dominate the streetscape and really tie the Cane's end of the arts district in with everything else.
https://imgur.com/45DCI7d

[dsjeffries]

They just finished assembling the crane for the project.

[SXSW]

Beautiful photo, so much redevelopment has occurred in that area yet there are still a lot of gaps in the urban fabric.  I love those forested hills in the background.  Now we just need to see UCAT sell off their land west of MLK and homes (re)built on all of those empty lots in Brady Heights..

[shavethewhales]

8/23/19:

Starting to take off.

[shavethewhales]

Getting started on second level. Parking levels are pretty short. I think there are three levels of this before they start on the actual loft floors.

[D-TownTulsan]

Thanks for the construction updates! It's always refreshing to see movement on projects, not just a rendering and having to wait a year or so for completion. Keep it up!

[shavethewhales]

Plowing through the second level now.

[ComeOnBenjals]

That last picture really shows how this building is going to dominate this street, it's going to be a lot bigger than I originally imagined!

[918superboy]

Not sure if its been mentioned here yet or on another thread, but is it true Soundpony is being forced out?