Davenport Urban Lofts

[Conan71]

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

To this point, nothing but rumors.  But with the partners opening Whittier Lounge, you could suppose there may be a "Plan B" if the 'Pony ever got forced out.  I honestly don't see the Soundpony being any more of a noise issue than I-244 or another night of Bob Wills tributes at the Cain's.

[ARGUS]

1:30 am last night Pony: "gathering bike frames for a large arbor on back patio"  seems like it would be prudent that existing biz's in that area should make a "Sound Statement" such as : these are our decibels "sign here" new tenants adjacent property owners.

[shavethewhales]

Hope that means they see themselves staying longer term. The old Yeti location next door is getting farther along into its transformation. They are working on the outside now.

Davenport has jumped another couple levels since my last photo on this thread. Really starting to look like something now. At the very least, it is certainly a transformation of the streetscape in this area. Still interesting to drive by during the day and see the warehouse next door open and active, right next to this high-class development. 

[shavethewhales]

Latest from last Friday.

I went into Soundpony for the first time in awhile and their entire ceiling has tarps hanging from it. A city permit posted on the next door up from them identifies an apartment build-out project going in directly above the bar. That's obviously going to cause a lot more issues than the people in Davenport. I have to assume/hope it will be occupied by someone associated with the bar? Going to be a noisy place to live, but you'd definitely be in the heart of all the music scene.

[shavethewhales]

Jumped another level. Starting on the actual residence levels now. Another six levels to go and it already dominates the street.

[hello]

It sucks not being able to see the Cain's sign anymore.

"Progress."

[DowntownDan]

The Sound Pony's music is indoors, and the first few floors of Davenport are parking, so I really don't see it being a problem. But the fact that there is even a risk of noise complaints from rich empty nesters is why I was against this development at all. I'm still hopeful that people who buy there will want to be there specifically because of the local nightlife (including OKPOP) and will embrace it all. I can't imagine that an older wealthy couple looking for solitude would choose that building. But again, the risk is always there, and people never cease to amaze me with stupidity.

[Conan71]

The Sound Pony's music is indoors, and the first few floors of Davenport are parking, so I really don't see it being a problem. But the fact that there is even a risk of noise complaints from rich empty nesters is why I was against this development at all. I'm still hopeful that people who buy there will want to be there specifically because of the local nightlife (including OKPOP) and will embrace it all. I can't imagine that an older wealthy couple looking for solitude would choose that building. But again, the risk is always there, and people never cease to amaze me with stupidity.

It's not like there aren't other options like this for empty nesters who want some peace.  2300 Riverside, Yorktown Condos, and Liberty Tower are just a few that stand out in my mind.  I will be curious to see what the demographic in the building ends up looking like.  When I lived at Center Plaza (now Central Park Condos) when it was still apartments, there was everything from young professionals to middle-aged divorcees, to elderly people.  It was an interesting mix pretty much from all walks of life, other than families as the largest thing they had were two bed apartments and I don't think the rent was very cheap on those. 

[shavethewhales]

I don't think the noise will be quite as much an issue as originally thought. I think the main issue will be the general nightlife/loitering/food trucks that come with the late night activities in the area. Probably wont see as much of the riff raff hanging around outside as you once saw at 12AM on a Friday. They will be pushed away by the bright lights and building security. The back patio of Soundpony might be a bit of a sore spot with all the vandalism that goes on back there, but presumably that will be contained to their property with all their tall fences.

The culture of the street has already changed a lot with the removal of Yeti and the beginning of construction for both this and the KFF project. This used to be the grungier side of the arts district, but with the new OKCPOP and this huge thing, it's now becoming the most gentrified area. Don't forget the new pizza restaurant in the yeti space...

When this building was announced, it was thoroughly pooh-poohed as being out of touch with the area, but in the end the developers understood what this area would inevitably become.

[hello]

It was "pooh-poohed" because it wasn't what a lot of us wanted the area to become.

Everyone knew once these loft really happened it was just a matter of time.

[TulsaGoldenHurriCAN]

The Sound Pony's music is indoors, and the first few floors of Davenport are parking, so I really don't see it being a problem. But the fact that there is even a risk of noise complaints from rich empty nesters is why I was against this development at all. I'm still hopeful that people who buy there will want to be there specifically because of the local nightlife (including OKPOP) and will embrace it all. I can't imagine that an older wealthy couple looking for solitude would choose that building. But again, the risk is always there, and people never cease to amaze me with stupidity.

Don't fret too much, with the rate these were (read: weren't) selling, they'll probably be purchased by regular rich working people eventually like DINKS who want to live in this sort of area rather than retirees. Why wait til you're old and boring to enjoy an area like this? Enjoy it while you're young with both spouses making 6 figures.

With steep prices like these, I doubt they'll sell very quickly and that eventually they'll be in a similar predicament as the Urban 8. Call these the Davenport 32. Looks like they've already fired their previous MLS agent.

[TulsaGoldenHurriCAN]

It's not like there aren't other options like this for empty nesters who want some peace.  2300 Riverside, Yorktown Condos, and Liberty Tower are just a few that stand out in my mind.  I will be curious to see what the demographic in the building ends up looking like.  When I lived at Center Plaza (now Central Park Condos) when it was still apartments, there was everything from young professionals to middle-aged divorcees, to elderly people.  It was an interesting mix pretty much from all walks of life, other than families as the largest thing they had were two bed apartments and I don't think the rent was very cheap on those. 

The range of prices there are crazy: from the $30k's all the way up to $200k for some (where they've merged units). Although the vast majority are under $80k. The biggest ones are around $160k ($150k for a 1,500 sq ft recently). That puts some perspective when you consider this place is asking $650k for 1700 sq ft. I get that they're worlds apart in location and how nice they are, but still it's an aggressively high price.

Imagine being a retiree and having $650k cash, and you can either buy one really nice condo or you can buy 13 condos on other side of downtown and use that rental income to live a pretty lavish lifestyle ($70-$100k/year rental income). You could then take that money and afford the mortgage on one of these! ($4400/mo. payment) Buying one of these up front is such a bad deal, it makes buying Central Park Condos seem like a great investment! (kidding)

But really, that's what you'd need to do to make this worth it: replicate the income equivalent in investments, then use that income to pay the mortgage so that you don't bankrupt yourself because bills, condo fees and all the entertainment and dining is going to add up. I'm sure there's some wealthy/wise enough to do that. The question is whether living in this area will be worth it and whether that many will pony up for a hopefully sound investment (play on words intended). I think it ultimately should, but not yet.

[shavethewhales]

Another blurry update for those not in the area. It looks huge in person now, and it's not even half way there.

[patric]

This is a slap in the face to any respectable lighting designer.
Ugly Ugly uplights shining right into the apartments.

[shavethewhales]

Speaking of, here's the latest from the weekend. Brick work has started.