Milhaus Breaks Ground on Second Multifamily Project in Oklahoma

Milhaus closes on $68 million residential apartment complex to bring quality housing to the City of Edmond’s Railyard District.

INDIANAPOLIS (Mar. 28, 2022) – Today, Milhaus, a national award-winning developer, owner and operator of Class-A multifamily properties, has broken ground on their second Oklahoma multifamily development in Edmond just north of Oklahoma City. The apartment complex will be the first fully-amenitized, truly walkable multifamily development in downtown Edmond and will immediately increase the patronage that is so vital to the adjacent retail tenants. 

The $68 million Edmond development will house 276 units, including studio, one-, two- and three-bedroom apartments. The pet-friendly community will feature top-tier amenities, including a resident lounge with a coffee + tea bar, pool with aqua lounge, bark park, fitness center and yoga studio. Residents will be able to step outside and enjoy courtyards and an entertainment deck with grills, fire pits and a communal kitchen.

“We’re excited to be on the forefront of Edmond’s growing downtown population and advancements with the installment of our next Oklahoma project,” said John McGurk, Vice President of Development at Milhaus. “We’ve been fortunate to partner with the City of Edmond to complete a structured garage and street infrastructure improvements to further advance Edmond’s amenities and livability.”

The development will have 377 garage and surface parking spaces, in addition to public parking spaces and indoor and outdoor bike parking. Located near the Railyard District in downtown, the community will have convenient access to the University of Central Oklahoma and a variety of food, drink and entertainment options including the Edmond Farmers Market, Edmond Railyard Food Hall, Ice House  Project, Frenzy Brewing Company, Ellis Island Coffee and Wine Lounge and more.

The City of Edmond offers residents a vibrant community, rich with culture, and continues to attract progressive companies and an educated workforce with their honored public school system and recent economic development. Among the momentum of greater downtown Edmond, the city maintains a cost of living well below the national average and is widely considered one of the best cities to live in.

Milhaus is partnering with Humphreys Capital, INTRUST Bank, Hufft architects and J&A Engineering to bring this project to life.

“We are very pleased to once again work with Milhaus, a long-time partner with whom we have built a great relationship,” said Todd Glass, Senior Managing Director of Investments at Humphreys Capital. “We care deeply about bringing thoughtful, redeeming development to Oklahoma, and this creative, walkable community fits that description perfectly.”

The project’s construction loan is financed by INTRUST Bank, a 145-year-old regional bank with six OKC metro locations, including one in Edmond. “We are grateful for the trust Milhaus has placed in us and excited to be part of a project that will bring the reality of a work-live-play lifestyle to downtown Edmond,” said Brandon Franklin, INTRUST Commercial Lender. “This project is generating a lively buzz around town.”

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 high-growth cities across the 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 more than $620 million since inception across four funds. Visit www.humphreyscapital.com for more information.