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Originally Posted by Cashville
Devon is not that big of a company, doesnt really have that many employees, and OKC isnt a place that is in dire need of office space (actually has pretty high vacancy rates). A fluke is a reasonable description for a building that will be less than half filled when opened and will probably take decades of strong growth to fill. Everything I have seen puts Devons OKC work force around 2500 and they currently have 35-40 OKC job openings on their website and of course not all of those are corporate jobs.
A new convention center hotel that my reach 300 feet will be the only building of significance built in the OKC skyline for the next 10 years. The market in the city just doesnt have the need for anything of significance and there arent any other companies in the city that will be building a structure so that they can have every employee housed in the same place until 2050.
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Not so fast my friend, it was recently mentioned that Devon is possibly building a medical clinic, and yes, you guessed it, another skyscraper right next to the new Devon Tower. Not sure of the scale, but I would put it in the 30-40 story range, for future expansion. Devon is growing fast, and will need a new tower in the the next 5-6 years or so. Being how long it took Devon tower to come to fruition, it wouldn't surprise me if planning behind the scenes for this new tower has not already started.
If you remember, Devon Tower was first announced in March of 2008, renderings released August of 2008, construction started October 2009, and they are expected to be fully done with construction by October 2012. So from announcement to completion was about 4.5 years. So if Devon follows this same path, we might get an announcement for this sooner than later. Moreover, is it just coincidence that the city is building a 7 story 700 space parking garage, with possible additional floors for housing, right across the street of the proposed site? I think not...