The Civic will provide downtown housing to high demand area

As Oklahoma City continues to grow, so does residential demand.

The Civic will serve as a great addition to the expanding housing market. With an already high demand for rental housing, the flats are another step in providing more market options for buyers.

 

The Oklahoma City Urban Renewal Authority recently completed negotiations with developer Ron Bradshaw for the surface parking lot at Couch Drive and Lee Avenue to be the site of the new flats. A groundbreaking was held for the project on July 23. 

 

 
Groundbreaking on Thursday, July 23  

   

The flats will be comprised of 34 condominiums, ranging from 800-square-feet up to 1,400-square-feet. The average sales price starts around $300,000 and the smaller units will sell for around $200,000. A total of 19 of the 34 available units are already under contract. The developer specified that six of the units would be two-story condominiums.

 

This development will serve as a cornerstone for the neighborhood and will improve walkability in the area. As the downtown economy grows, the need and demand for permanent housing will continue to increase. 

 

The development of housing and residential growth around downtown fuels other economies like retail, restaurants, entertainment and other businesses. More housing means a revitalized downtown where residents want to not only work, but live and play as well. The Civic is just a part of the continuing endeavor to provide ample housing for the downtown market. 

 

Butzer Architects and Urbanism
 
Boeing breaks ground on new facility
Boeing has broken ground on their new facility as part of their partnership with Oklahoma City. Boeing signed a deal with OKC for $6 million in incentives to increase and expand their presence in the region. Boeing's response to the incentive is the construction of their new $80 million, 290,000-square-foot facility near its current plant. 

 

The new facility will provide space for 800 employees, some of whom will be part of the 900 new jobs projected to be created by Boeing. The expansion is also projected to have an economic impact of about $640 million.

 

The new structure, the third on Boeing's existing campus, will open in summer 2016 and house employees working in engineering, research, development laboratories and support staff.

 

The high-skilled jobs offered by Boeing's facilities provide highly competitive salaries. Oklahoma City's Strategic Investment Program will not pay out Boeing's $6 million incentive until the company has reached the negotiated job creation benchmarks. Boeing's incentive demonstrates how OKC is growing as an international player and gaining recognition for its business-friendly practices. 

 
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