(PROJECT) Brady Fairfield Inn by Marriott

[heironymouspasparagus]

As much as I would rather live in a condo or apt, a free house is a free house. 

Not exactly...property taxes and maintenance.

Maintenance can be a huge thing!  Even as we speak, I am planning the next big project - painting the house.  It has been about 16 years and while it still looks good from the curb, it is time.  And it is a bigger project than many people want to mess with.

[SXSW]

The TW article about the Fairfield Inn mentioned it will have an adjacent parking lot.  Will there be a small parking area just east of the hotel building west of Caz's & Hey Mambo?  Or the lot south of Hey Mambo where the Brady Flats is proposed (but not started):

[ZYX]

The hotel won't take up the full half-block. I was under the impression that the hotel would take up about half the property lengthwise and the parking lot would be immediately behind it.

[TheLofts@120]

We had an excellent turn out fo the groundbreaking.  Among some of the presenters were Mayor Bartlett, Brady Owner's Association President Steve Ganzgow, Ray Hoyt with the CVB, Greg Oliphant as principal of the development, Jeff Hartman with SJS Hospitality and Tye Turman with Marriott and about 100 people in attendance.  Virtually all media was represented and there should be some great stories on they way.

Thank you to all that could attend, was great to see the support.

PS - the hotel will have its own parking behind it but still within the half block of development.

Thanks
Will

[SXSW]

The hotel won't take up the full half-block. I was under the impression that the hotel would take up about half the property lengthwise and the parking lot would be immediately behind it.

That makes sense.  The hotel won't be very wide but will front Main from Archer to Brady.  I just hope the Brady Flats project is still a go.  That is the most new infill in one concentrated area Tulsa has seen in a long time.

[TheTed]

Not exactly...property taxes and maintenance.

Maintenance can be a huge thing!  Even as we speak, I am planning the next big project - painting the house.  It has been about 16 years and while it still looks good from the curb, it is time.  And it is a bigger project than many people want to mess with.

When you crunch all the numbers, there's no way home ownership is remotely comparable to an apartment. If you tally all these costs and you manage to sell for way more than you paid, maybe you come out even.

You got:
*Insurance on the structure.

*Property taxes.

*Maintenance (it sure is nice when everybody's worried about ice storm damage or whatever to know you're not gonna be financially screwed by a freak weather event)

*Increased utilities (a small one-bedroom is ridiculously cheap to heat and cool. $100 for a couple of the hottest months. $25 for the cheap months. In an old multi-unit brick building, you barely even need to turn on the heat until it gets really cold)

*Possible addition of a second car to the household and all its assorted expenses. Even the closest Owen Park homes are still two or three times farther from the core of downtown than most downtown apartments.

*Lawn maintenance costs (not huge, but I'm sure they add up).

*Safety/security. In an apartment in a multi-story building, the only real likely point of entry for a criminal is the door. In a house, you have way more points of entry. As someone who very easily broke into my parents house (as a child) multiple times when I forgot the key, that's kind of scary. So I'd probably need an alarm.

*Additional time expenditures. You're always tinkering with something on your house on weekends.

[carltonplace]

When you crunch all the numbers, there's no way home ownership is remotely comparable to an apartment. If you tally all these costs and you manage to sell for way more than you paid, maybe you come out even.

You got:
*Insurance on the structure.

*Property taxes.

*Maintenance (it sure is nice when everybody's worried about ice storm damage or whatever to know you're not gonna be financially screwed by a freak weather event)

*Increased utilities (a small one-bedroom is ridiculously cheap to heat and cool. $100 for a couple of the hottest months. $25 for the cheap months. In an old multi-unit brick building, you barely even need to turn on the heat until it gets really cold)

*Possible addition of a second car to the household and all its assorted expenses. Even the closest Owen Park homes are still two or three times farther from the core of downtown than most downtown apartments.

*Lawn maintenance costs (not huge, but I'm sure they add up).

*Safety/security. In an apartment in a multi-story building, the only real likely point of entry for a criminal is the door. In a house, you have way more points of entry. As someone who very easily broke into my parents house (as a child) multiple times when I forgot the key, that's kind of scary. So I'd probably need an alarm.

*Additional time expenditures. You're always tinkering with something on your house on weekends.

But once its all paid off you no longer pay a mortgage, renters will always pay rent.

[TheTed]

But once its all paid off you no longer pay a mortgage, renters will always pay rent.

But all those costs probably add up to the same as rent on a one-bedroom ($500-$600/month), or at least nearly as much. Some of the big home ownership expenditures equal quite a few months of rent. How much are monthly utilities alone on a house vs. an apartment?

It's best financially to live in as small a space as possible. That pretty much means an apartment, as I don't think there are houses that small.

[Townsend]

It's best financially to live in as small a space as possible. That pretty much means an apartment, as I don't think there are houses that small.

Challenge accepted:

[Red Arrow]

When you crunch all the numbers...
*Insurance on the structure, *Property taxes. *Maintenance

Included in your rent.

*Increased utilities (a small one-bedroom is ridiculously cheap to heat and cool. $100 for a couple of the hottest months. $25 for the cheap months. In an old multi-unit brick building, you barely even need to turn on the heat until it gets really cold)

Yep, a lot smaller place will most likely have lower utility bills.  One of the benefits of owning a row home is that except for the end units, 2 sides are not open to the elements.  See Philadelphia, PA where row homes were popular for a long time.

*Possible addition of a second car to the household and all its assorted expenses. Even the closest Owen Park homes are still two or three times farther from the core of downtown than most downtown apartments.

Depends on where the apartment is.

Lawn maintenance costs...

I'll give you that one but it too is included rent.

*Safety/security. In an apartment in a multi-story building, the only real likely point of entry for a criminal is the door. In a house, you have way more points of entry. As someone who very easily broke into my parents house (as a child) multiple times when I forgot the key, that's kind of scary. So I'd probably need an alarm.

There are no 1st floor apartments with windows?

*Additional time expenditures. You're always tinkering with something on your house on weekends.

The money for the time you are not spending is included in the rent.

[TheTed]

Included in your rent.

Yep, a lot smaller place will most likely have lower utility bills.  One of the benefits of owning a row home is that except for the end units, 2 sides are not open to the elements.  See Philadelphia, PA where row homes were popular for a long time.

Depends on where the apartment is.

I'll give you that one but it too is included rent.

There are no 1st floor apartments with windows?

The money for the time you are not spending is included in the rent.

I realize it's included. But it's a choice between paying $500/month for rent and paying $500/month for mortgage PLUS another $500 (very, very rough numbers) a month on the extras I listed. Plus if you have to buy another car, that's at least $200 more a month just for insurance/maintenance/gas on a jalopy.

[Red Arrow]

I realize it's included. But it's a choice between paying $500/month for rent and paying $500/month for mortgage PLUS another $500 (very, very rough numbers) a month on the extras I listed. Plus if you have to buy another car, that's at least $200 more a month just for insurance/maintenance/gas on a jalopy.

Townsend found some pictures of some pretty small houses.  There is a fairly small house on Peoria/Elm in Jenks between Main and 91st that probably doesn't have much more space than a medium apartment.  Generally though, with a house you have more space and that will cost more.  What would be the rent on a 1500 sq-ft apartment downtown?  Then we get into the questions of whether you want a yard or community park, a big kitchen or a seat at the local coffee house etc that Artist delineates so well.

Not all apartments are downtown or next door to shopping.  One person probably only needs one car.  Two persons may or may not.  I'm thinking of the apartments being built in Bixby at about 128th and Memorial.  Definately a two car place in my mind.  No question though, an automobile is not cheap.

[jacobi]

So I saw in the article in the paper that the hotel will have an attached parking lot.  Where is that going to be?  If it's the space that the construction trailer is on right now, that's cool.  But if it's the lot behind, that means no brady flats.  that makes me a sad panda....

[ZYX]

So I saw in the article in the paper that the hotel will have an attached parking lot.  Where is that going to be?  If it's the space that the construction trailer is on right now, that's cool.  But if it's the lot behind, that means no brady flats.  that makes me a sad panda....

See this....

We had an excellent turn out fo the groundbreaking.  Among some of the presenters were Mayor Bartlett, Brady Owner's Association President Steve Ganzgow, Ray Hoyt with the CVB, Greg Oliphant as principal of the development, Jeff Hartman with SJS Hospitality and Tye Turman with Marriott and about 100 people in attendance.  Virtually all media was represented and there should be some great stories on they way.

Thank you to all that could attend, was great to see the support.

PS - the hotel will have its own parking behind it but still within the half block of development.

Thanks
Will

[jacobi]

Yeah, I read it after I posted that.  More researched needed on my part   I wonder if the lot across the street (where the construction trailor for this project is) is up next.  It might be that it's attached to the ward building which is fine becuase if that space is leased for commercial purposes, they may well need parking for a while, while the rest of the neghborhood comes together.  And while I'm dreaming, I may as well wish for the same thing on the NW and NE corners of main and cameron.  Sigh...