The Triangle

Antony McDermid, the CEO of TAP told me that this project that he's got in the mix right now is specifically modeled after Victory, and I've even seen many stories in the Daily Oklahoman quoting McDermid saying just that. So I guess it's official. This is OKC's project modeled after Victory.

What I know is basically that there will be 700 residential units in this, eventually, plus McDermid wants to throw in street-level retail, plus office space and eventually wants to find a hotel he can develop in here. The district is basically bounded by I 235, the railroad tracks (which there are unofficial talks of converting those tracks to carry light rail trollies and commuter rail trollies) and I guess sort of between Main and Broadway/Gaylord on the northeast side of the innercity.

So far the Brownstones at Maywood Park are the only project going. (The rendering I posted.)

100-ish condos in the $400,000 range.

They've also announced that they'll be renovating an office building in the Triangle (have you seen the one with the wierd awning things on the windows?) to be more habitable and possibly building a low- or mid-rise office building on some vacant property.

Oh yeah the Flat Iron Lofts. That's a Grant Humphreys project there.

All I did here was copy my post in my new Atlanta forum... I luckily saved some renderings of that project but I'll have to upload them to Photobucket because our uploads aren't working over here just yet...

The Central Avenue Villas are another project in the Triangle, at Central and Fourth.

This project will consist of 30 townhomes and condominiums at the corner of Central and 4th in Deep Deuce. Specifications are 1-3 bedrooms, 735-2,800 square feet, and $125,000-$375,000. Developers for this $4.5M development are Downtown Brownstones LLC and Somerset Partners LLC. Pre-sale begins August of 2006. Construction will start in Spring 2006. McDermid was responsible for design.

user posted image

The thing I appreciate most about the Central Avenue Villas is how they connect to Deep Deuce, in one instance, at least, even sharing a wall. And the last rendering, which shows that meeting between the Bricktown-inspired architecture of Deep Deuce and the ultra modern architecture of CAV, but it doesn't look tacky or out of place at all.

In the second to last rendering, notice that there are no windows on that wall, perhaps planning for a future project to fill that space.

Yes I see that, but there really isn't much room back in there. It's very observant of you, but notice in the first pic where the alluded to space is in that little court yard.

Yeah, but if it filled the entire space of that driveway and both sides of it, from the CAV wall to the Deep Deuce wall, it looks like enough room for another segment of building about the size of the corner section of CAV.

The confusing thing about the Triangle is that it's not a single development. It's just like the area south of downtown, in that there are so many differant masterplans, but in reality there's just a bunch of developers off doing their own thing, trying their best to blend and create a neat district.

In the Triangle's case, most of the land is being developed by TAP, but some developers happen to own some land in and near the area and are doing projects which will compliment TAP's work. The main Triangle projects are all TAP though- the Villas, the Brownstones.

Grant Humphreys has two projects of his own in Triangle, a list that's growing...

The Triangle Development Partners Designated as Developer for OCURA Property
OKCBusiness Staff
12/8/2005

Triangle Development Partners LLC has been selected by the Urban Renewal Authority as the developer for three prime property locations in Oklahoma City's urban core. The three properties located on Oklahoma at Second, Third and Fourth Streets are the final pieces needed to complete the partners' vision for the area north of Bricktown known as The Triangle which will include a community green space and an upscale residential addition.
“Our plans for The Triangle are to create a neighborhood within the city where neighborhoods are the focus of thoughtfully planned retail and business spaces that complement the energetic urban style of living we see emerging downtown,” said Anthony McDermid, a partner in The Triangle Development Group and principal at TAParchitecture.

Proposed renderings and material samples for the upscale residential brownstones were presented to OCURA along with a floor plan. The brownstones will be two-and-a-half, three-story and three-and-a-half story privately-owned homes with the “half” story including a rooftop deck with spectacular views to the north and south. The brownstones will range in size from 2,400 to 3,200 square feet.

The Triangle Development Partners LLC are William P. “Pat” Garrett, manager, Garrett and Company; Bert Belanger, president, UrbanWorks LLC; Ronald Bradshaw, partner, Colony Partners, Inc.; Jason Bradshaw, partner, Colony Partners, Inc., and Anthony McDermid, principal, TAParchitecture.

I'm concerned about some of these loft projects, at least in the near term. They are going to be coming on line at what looks could be a bad time for residential real estate, even around these parts - and the prices are STEEP for okc. From what I understand, the plan for Brownstones @ Maywood park is to build the sections in a modular fashion - starting with one section, and leaving others grassed over until interest can be fully gauged. Not sure if this has been the idea all along. Block 42 and Central Avenue Villas are a go, obviously, but I'm starting to wonder about the Hill.

http://www.rgemonitor.com/blog/roubini/142759/ -- this is a very bearish view on our current economic situation, but the overriding point is that the chinks in the housing armor are starting to show.

Well, in Oklahoma City the housing market isn't slowing down quite as fast as the markets that were extremely overpriced, because we never really ballooned as bad as Phoenix, California, Florida...

I think also that in our case even if suburban housing starts to slow down, urban residential real estate is a completely different game. The demand is high and the supply is very very low.

There is still demand for thousands and thousands of residential units in downtown OKC. 2,000 is just the tip of the iceberg of this demand that is there for the next 5 years. The situation will obviously have to be re-evaluated in 2011. But we've obviously defied development trends all throughout our state's history.