At a time downtown for-sale housing is assumed to be a dead market, the developer of The Hill is seeking to proceed with more construction after selling every available residence built to date.
The Oklahoma City Urban Renewal Authority on Wednesday will consider a request by Bill Canfield to move forward with construction of a previously suspended building and development of more housing along Russell Perry Avenue just south of Central Avenue.
If the Urban Renewal board gives its approval, construction will begin soon on top of a foundation poured three years ago for a building just east of a sold-out row of homes facing Russell Perry Avenue.
That foundation is the last hint of trouble the Deep Deuce development endured when the first homes were completed in 2008. Construction halted for more than a year.
Michael Biddinger with First Source Real Estate said Tuesday that while sales started slow the first year as the nation was hit with a deep economic recession, activity has picked up.
“We have really sped up the sales quite a bit,” Biddinger said. “We sold seven our first year, seven our second year, and we've sold 14 so far this year. In our Building 8, which is three- to four-story homes, we've finished four of those. Two are sold, and two are under contract.”
Altogether, 32 homes have sold at The Hill — representing every available finished residence.
The request to continue development includes two styles of housing — homes like the ones facing Perry Avenue that are two stories high and between 1,650 and 1,900 square feet, and a set of homes that are three-stories high, with 2,200 to 2,600 square feet.