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New apartment complex proposed for Oklahoma City's Deep Deuce

The Oklahoma City Urban Renewal Authority will see plans today for a proposed 139-unit apartment complex in Deep Deuce. Ron Bradshaw, a partner in the 2nd Street Lofts and Brownstones at Maywood Park, is building the new $16 million complex with his Colony Development Partner Jason Bradshaw.
by Steve Lackmeyer Published: February 16, 2011

McKown said he's not worried about competition from another apartment complex, adding that downtown has done well with housing added to date.

“I think the residential community downtown needs to continue to grow,” McKown said. “I don't think the physical real estate is there for it to become overbuilt.”

Bradshaw, meanwhile, said he suspects the downtown housing market will continue its switch from the wave of for-sale residences four years ago to rental projects such as the ones he and McKown are pursuing. Bradshaw was one of several developers who had more for-sale housing projects under design when the financial pain of the Great Recession hit in 2008.

“Financing is more difficult to get, it's hard to qualify, you've got to have down payments,” Bradshaw said. “And if all the demographics and studies are correct, we will have more people renting than in the past.”

Bradshaw added he believes the downtown for-sale market is recovering and will be assisted by the continued development of Deep Deuce.

“There are still people buying,” Bradshaw said. “They want to know what's all around them — they would like to see what it will look like when it's done. We might have gotten the cart before the horse, and should have done some rental before doing for-sale.”

by Steve Lackmeyer
Business Reporter
Steve Lackmeyer is a reporter and columnist who started his career at The Oklahoman in 1990. Since then, he has won numerous awards for his coverage, which included the 1995 bombing of the Alfred P. Murrah Federal Building, the city's Metropolitan...
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