The Oklahoman reports construction on what used to be the 3.5-acre site of the Villa Teresa campus in Midtown Oklahoma City will soon be underway as a $30 million redevelopment project moves forward. Marva Ellard and partner Billy Woodring bought the historic campus in 2017 for $5.51 million. The product mix will include ten for-sale townhomes and seven flats.
“We’re well along in selling — we call them reservations,” Ellard said. “We have 12 reservations, and we think most of those will convert to contracts. We chose to do only 17 units because we want people to enjoy the space and enjoy living there.”
Conversion of the two large brick homes at the center of the former campus into a 70-room boutique hotel with restaurant, bar and meeting rooms, and renovation of the remaining school buildings into housing and potentially a couple of shops will follow next year with the entire development set for completion in 2021.
Villa Teresa consists of school buildings and former homes that date back to 1917. The school was started in 1933.
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