(OKLAHOMA CITY, OK) – Hines, the international real estate firm, along with partner Humphreys Capital, announced that it has broken ground on the construction of a luxury multifamily project at Classen Curve in the Nichols Hills submarket of Oklahoma City.
The development will be a five-story mid-rise building with 326 rental homes, situated immediately adjacent to Whole Foods at the epicenter of the Classen Curve outdoor retail center. The community will offer unparalleled walkability to surrounding amenities such as Trader Joe’s, over 15 restaurants including newly opened Torchy’s Tacos and Flower Child, and multiple fitness concepts.
The community will offer studios, one, two, and three-bedroom units and will offer upscale finishes and fixtures that will set a new standard for quality in the marketplace. The project will feature resort-style amenities including multiple private outdoor courtyards, heated pool, a private fitness center, club room, library, outdoor dog run, modern package facilities, and significant bicycle storage to take advantage of adjacency to the Lake Hefner bike trail.
The development will be the first residential project for Hines in Oklahoma City after having developed office towers Devon Energy Center and BOK Park Plaza. Hines Senior Managing Director Tom D’Arcy stated, “Hines is privileged to break ground on another development in Oklahoma City. This project will sit on strategic real estate anchored by two upscale grocers, and we are committed to delivering a market-leading community befitting of the site. It is an honor to be partnering with Humphreys Capital and we are excited to add one of the final pieces to the Classen Curve center.”
“We are very pleased to break ground on our second project with Hines,” said Todd Glass, Senior Managing Director of Investments at Humphreys Capital. “We’ve enjoyed collaborating on a project in our own backyard that will bring a true live-work-play lifestyle to Oklahoma City.”
Dwell Design Studio (Dwell) is the Architect of Record for the development project. Dwell offers expertise in residential design, with deep experience throughout the Southeast and Southwest United States.
Construction began in August 2020 with initial sitework activity, and occupancy is expected to begin in early 2022.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 225 cities in 25 countries. Hines has approximately $144.1 billion of assets under management, including $75.5 billion for which Hines serves as investment manager, including non-real estate assets, and $68.6 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,426 properties, totaling over 472 million square feet. The firm’s current property and asset management portfolio includes 576 properties, representing over 246 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
About Humphreys Capital
Humphreys Capital is a real estate investment company that acquires, develops and operates income-producing, multi-sector properties including industrial, multifamily, office and retail. The firm’s investment and development focus is on dynamic cities exhibiting diverse growth across the Southeastern and Southwestern United States, where it specializes in privately negotiated off-market, mid-size deals of institutional quality. The multigenerational team provides seasoned expertise and exposure to diversified commercial real estate for accredited and institutional investors. The firm has raised approximately over $400 million since inception across three funds. Visit www.humphreyscapital.com for more information.