The question keeps popping up — how many apartments are being added downtown, and is the supply about to outpace demand?
The answer to this question may change rapidly, but as of now, demand is still ahead of supply. Waiting lists exist for every apartment complex between Midtown and Deep Deuce.
About 1,000 rental and for-sale residences were added between 2000, when the downtown housing boom started, and 2009 when the Great Recession halted all but a couple of projects, most notably the Level Urban Apartments in Deep Deuce.
That housing boom is back on with an even greater frenzy. The recent openings of the 37-unit Guardian Garage at 1117 N Robinson, the 26-unit complex at 430 NW 12, and 24 apartments at the 1212 Building at 1212 N Walker, all in Midtown, did little to meet the demand for housing.
And as I've reported, for-sale housing is moving faster than it can be built at The Hill at NE 2 and Russell Perry Avenue in Deep Deuce.
Even greater numbers of apartments are set to be built this next year. Construction is already under on the 97-unit Mosaic Apartments at NE 3 and Oklahoma Avenue in Deep Deuce, the 250-unit Edge Apartments at NW 13 and Walker in Midtown, the 139-unit first phase of the Maywood Apartments at NW 4 and Oklahoma Avenue in Deep Deuce, and the 250-unit Steel Yard apartments in east Bricktown.
That adds up to 736 apartments where construction is already underway.
Planning, meanwhile, is underway for the 330-unit Metropolitan Apartments at NE 6 and Oklahoma Avenue, the 169-unit second phase of the Maywood Apartments at NE 4 and Walnut Avenue, the renovation of the Mayfair building at NW 13 and Broadway into 18 apartments, and the renovation of the Hotel Marion at NW 10 and Broadway into 10 apartments.
That adds up to 527 apartments that are in advanced stages of design, are financed, and construction is set to begin within the next year.
With everything underway, downtown's population is set to double.
Or will it?