New Apartments Complex — to Be Built in Oklahoma City

February 16, 2011 / Russell Legato, Residential Property Analyst

The plan for the construction of a new apartments complex with about 139-unit in Deep Deuce, a historic neighbourhood is a district in Downtown Oklahoma City, will be reviewed by Oklahoma City Urban Renewal Authority, which is also asked to amend the original agreement for the project’s site. The construction for the $16 million apartment complex, if the authority grants the “go signal”, will commence summer this year.

New Apartments Complex — to Be Built in Oklahoma City

Unlike Los Angeles, where a 122-year old hotel building will be just converted into an affordable apartment complex with studio type units till summer 2012, completion date of Oklahoma project is not defined yet.

The site for the news apartments complex will be at Oklahoma and NE 4, which is zoned for more terrace houses or brownstone development in the area.

“Very urban” — the design for the apartment complex according to Ron Bradshaw, the developer, and Jason Bradshaw at Colony Development, a partner for the venture.

Future residents in the new apartments complex will enjoy an underground parking area, a swimming pool, patio and a dog-run area.

Other residential development in the area includes a Level Urban Apartment project with about 222-unit by Development for Ideal Homes, and a seven-level Aloft hotel, which is across the property.

According to the president of Development for Ideal Homes, Richard McKown, Bradshaw’s development will add value for their efforts to put additional commercial establishments in the area, like a grocery store and a restaurant for its Urban Apartment.

Bradshaw also believes that the market for “for-sale” real estate market started to recover after the recession, and will be assisted by the constant development in the area, including this new apartments complex development.

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