When Mark Risser graduated from the University of Oklahoma in 1992 and got his first job, he was struck with the narrow categories of residences available in Norman.
He no longer wanted the apartment life, but he wasn't ready for a single-family house either.
"I couldn't find a cool place where I wanted to live," Risser said.
Eventually the Norman native settled on a loft apartment downtown, but he always remembered how few modern housing options were available in Norman.
The thought stayed with the architect, and now he's ready to bring a new kind of residence to Norman.
"I just kept thinking, this is what Norman needs," he said.
Risser will break ground this summer on Loft 401, a boutique condominium development on Boyd Street, east of the railroad tracks and across from The Mont.
The deluxe gated community will feature 35 units on three stories, each with a modern, open floor plan and fine amenities.
It's the type of thing that hasn't really been available in Norman before, Risser said. The trend has been popular in other markets, however, such as the Dallas area, where Risser lives and works as an architect.
Norman has suffered from urban sprawl and some residents are now looking to move back to the center, he said.
"People tend to gravitate and migrate back to the inner parts of the city," he said. "... This type of product has been proved and tested in a lot of other types of markets."
He said he's seen a lot of interest in Loft 401 already, and expects to see more once the building starts to be raised. Risser said he expected young professionals, affluent former Norman residents who are looking for a second home and parents of students to express interest, but he was surprised at the number of empty nesters looking at Loft 401. He said it's a low-maintenance way to feel involved in the heart of the Norman community.
"With this location you feel like you're truly a part of the community," Risser said.
One of the main draws of Risser's project is the location near OU campus and Campus Corner, he said. The self-renovation of Campus Corner was one of the things that indicated to Risser that Norman might be ready for a development like this, he said.
Norman developer Brent Swift said he's seen a lot of interest in residences near campus over the past 15 years. He said he's done 20-30 home remodels in that area.
"It's super strong," he said of that housing market. "We have a generation that's returning back to the campus area." He said many people want to live near OU to take occasional classes or just participate in community events put on at OU.
"People are looking for that proximity," Swift said. "It's not just OU football."
Younger people also are interested in more than just the traditional fare of housing, he said.
So he's stocked the four lofts he leases downtown with high-tech amenities to appeal to these residents, to give the lofts that "modern look and feel."
Loft 401 also is going for a modern look with top-of-the-line amenities. Prices for the one-bedroom loft condos start in the $150,000s.
This won't be the last project for Risser in Norman. Risser said he hopes to diversify the residential offerings in Norman, providing alternatives to traditional apartments or houses.
"I've been waiting for Norman to be ready for this project, and I feel like it's really now ready to accept this type of diversification," Risser said.
Lofts and mixed-use buildings are becoming more popular nationally, and they'll soon come to Norman, too, he said.
"I think you're going to see more of it in Norman, and I think that's a good thing, and I will definitely do my part to make that a good thing in Norman," Risser said.
Local Business
July 3, 2009
Norman's housing revamp
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