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  #61  
Old Posted Feb 25, 2006, 9:13 PM
shane453 shane453 is offline
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Bricktown is evolving... when did you see it last? They're now excavating beneath historic buildings to build new canal-level retail spaces.

The CBD is actually progressing too. We have a new Italian restaurant in the Montgomery Ward Apartments where Eva Longoria has eaten while in town with NBA boyfriend, a few restaurants that have been announced, a nightclub in the basement of the Colcord hotel ("XO"), and today a furniture/decor store announced a new location in the CBD.

People are already taking residency in the CBD. There are about 250 units in progress in the CBD alone, and 2,000 announced in the whole of downtown.

Pedestrian level is not being forgotten in OKC. We have the Underground, it's a fine asset, and we're keeping it and improving it.
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  #62  
Old Posted Feb 25, 2006, 9:14 PM
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Quote:
Originally Posted by ptownsnwbrdr
Just to add...

The tunnel may be ok for business people. Just don't flaunt it and make seem like something it's not. .
totally agree, as it definitely takes away pedestrian traffic on the downtown streets! But I think OKC should be proud of the system as not many have such an extensive one!

Quote:
Originally Posted by ptownsnwbrdr
DT OKC, west of the tracks, after five, is the creepiest place I've been in awhile.
Not anymore! DT is coming back, with more and more coming in. They are adding storefronts back, which will definitely add more "life" to the CBD. Bricktown, AAlley, and the Art's District already have very to pretty good life after 5pm and I think this has all been heightened by the success of the NBA's NO/Oklahoma City Hornets.

Hopefully the seeds of development will continue to sprout and Downtown OKC will become more of a destination!
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  #63  
Old Posted Feb 25, 2006, 9:20 PM
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Quote:
Originally Posted by shane453
They're now excavating beneath historic buildings to build new canal-level retail spaces.
Quote:
Originally Posted by shane453
The CBD is actually progressing too. We have a new Italian restaurant in the Montgomery Ward Apartments where Eva Longoria has eaten while in town with NBA boyfriend, a few restaurants that have been announced, a nightclub in the basement of the [Insert: "NEW" ] Colcord hotel ("XO"), and today a furniture/decor store announced a new location in the CBD.
Quote:
Originally Posted by shane453
People are already taking residency in the CBD. There are about 250 units in progress in the CBD alone, and 2,000 announced in the whole of downtown.
Quote:
Originally Posted by shane453
Pedestrian level is not being forgotten in OKC. We have the Underground, it's a fine asset, and we're keeping it and improving it.
Im so proud of the progress going on downtown. Every little bit of retail adds up! I love the weekly (and sometimes daily) announcements!!!

Just think, in 1999 there was Little to NO retail to speak of in downtown besides the stuff in the Underground. In two years, downtown will have a reasonable amount of streetfronts in the CBD!
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  #64  
Old Posted Mar 4, 2006, 3:24 AM
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OKC's Chesapeake Energy was just upgraded to become OKC's third S&P 500 company. There are a total of four in the state of Oklahoma.

-----

Chesapeake joining S&P 500
By Adam Wilmoth
The Oklahoman

Chesapeake Energy Corp. will join an elite club of industry leaders this week, becoming listed among the S&P 500.

Standard & Poor's officially invited the Oklahoma City energy company among its loftiest ranks Tuesday. Chesapeake will replace Ohio-based auto parts manufacturer Dana Corp. on the index Thursday.

"It will be an exciting day," said Tom Price, Chesapeake's senior vice president of corporate development. "It's further indication that the company and its importance to the country is being appreciated by S&P."

Often viewed as a proxy of the publicly traded stock market, the S&P 500 includes many of the country's largest, most actively traded companies.

"They'll be playing to a whole new crowd," said Jake Dollarhide, chief executive officer of Tulsa-based Longbow Asset Management Corp. "Being listed among the S&P 500 index will give Chesapeake exposure to many more investors. I think there will be a lot of people who will be interested in Chesapeake now who maybe haven't checked out the company before. It's like they're in the club now."

Many large investment firms and advisers buy only stocks listed among the S&P index, Dollarhide said.

The addition of Chesapeake gives Oklahoma four companies on the index. The others are Devon Energy Corp., Kerr-McGee Corp. and Williams Cos. Inc. Besides the benefits for the individual companies, Dollarhide said the inclusion of another Oklahoma company reflects well on the entire state.

"At a minimum, it's certainly a nice recognition for the state," Dollarhide said. "It also shows there are talented individuals running some very important companies."

One irony, however, is that despite efforts to diversify the state's economy, all four of Oklahoma's S&P companies are oil and natural gas producers.

"The state certainly has diversified, but the energy sector is still leading the state," Dollarhide said.

While many civic and economic leaders have promoted the state's diversification, Price said being a leader in the energy industry will benefit Oklahoma for many years to come.

"We believe we are in an industry being seen more and more as critical to the smooth running of the U.S. economy," he said.
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  #65  
Old Posted Mar 8, 2006, 10:46 PM
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- Mayor reelected by a record-setting 87% margin, probably due to the incredible success of his first term.

- Security cameras to be installed all around downtown as part of the city's beefing up on security in the area, especially the courthouse and city buildings.

- Art Deco-era Tower Theater to be revived as a live-music venue, offices, and retail. Its owners hope to anchor the reemergence of Uptown (23rd street area), following in the footsteps of Bricktown, the Arts District, Film Exchange, Midtown, and Automobile Alley.

- The already outstanding OKC zoo has almost finished with its new $9.3 million 7.7 acre exhibit, "Oklahoma Trails," which highlights the 11 "life zones" of the state of Oklahoma.
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  #66  
Old Posted Mar 13, 2006, 7:52 PM
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from http://okctower.com



"The Uptown Development Group's mission is to restore a portion of historic NW 23rd, a blighted urban area with 40 years of decline, in to a thriving entertainment and retail district. Restoring and renting the historic theater, retail spaces and offices will anchor the NW 23rd corridor, providing a catalyst for future growth in the area."

"The Uptown Development Group's Tower Theater complex is more than 24,000 square feet of historical property on NW 23rd Street including the landmark Tower Theater. The property, on the original Route 66, is nestled between the historically preserved neighborhoods of Heritage Hills, Jefferson Park and the Paseo Arts District. The group plans on renovating the property under the guidance of Oklahoma Historical Society and the National Parks Service, into a thriving arts and entertainment destination. The property, built in 1926, includes 8000 square feet of retail space on NW 23rd, 8000 sq. ft. of office space (above retail), 50,000 sq. ft. of parking on NW 23rd and the 8000 square foot theater, which was built in 1937."
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  #67  
Old Posted Mar 16, 2006, 3:11 AM
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Oklahoma's largest publicly traded company, Devon Energy, has leased an additional 100,000 square feet in downtown Oklahoma City, bringing their downtown OKC total to 600,000 square feet. They own a 17 story building and lease in I think three others.

This brings the Class A/B vacancy rate down to 17%.

One is led to wonder when Devon will become tired of having employees in three different buildings and spend the money to build a 60-story tower.
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  #68  
Old Posted Mar 25, 2006, 1:18 AM
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This condo project was announced at the end of last year for Lower Bricktown. The building is in a prime site next to the movie theater and across the canal from the Centennial Fountain. New details have been released about the project.

11 units of the total 30 are already sold, and some of the retail space is leased. A 10-lane bowling alley and lounge and a Starbucks will be the anchor retail tenants. Two levels of retail will be constructed- canal level and second level walkway, similar to upper Bricktown designs. The remaining three levels will be the 30 residential units, and underground parking will be provided for tenants. It's a small but nice project, and the bowling alley is very nice to add another activity to Bricktown's menagerie.

Construction will begin May 1 and the project will be complete by summer 2007.

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  #69  
Old Posted Apr 11, 2006, 1:32 AM
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3 Articles:

1) PHF Reseach Park now has no vacancy as it begins construction of more buildings
2) Oklahoma River might be extended/routed into former airpark property to increase development options and property values
3) 30-acre Memorial Corridor mixed use office development

Research park fills last available space

By Jim Stafford
The Oklahoman

24 tenants added in past 20 months

The "no vacancy" sign has gone up on the Presbyterian Health Foundation Research Park.
The last 1,800 square feet of space in the park -- out of almost 600,000 square feet -- has been committed, Mike Anderson, president of the foundation, said Tuesday.

"In the last 20 months, 24 new tenants have been added to the Research Park," Anderson told an audience of about 150 people attending a health research conference at the park's Conference Center. "There are now 44 tenants here."

The latest tenant is a company created by University of Oklahoma researcher Dr. Jian-Xing "Jay" Ma, called Charlesson LLC and its subsidiary, Lifetrees LLC.

Both companies were formed in 2005, said Mike Moradi, a partner in the companies through his Venture Development Associates.

Charlesson is an analytical research lab performing research for big pharmaceutical companies on a contract basis, while Lifetrees is working to develop products to battle eye disease, Moradi said.

Two patents have been filed based on Jian-Xing's research, and he has won six National Institutes of Health Phase I Small Business Innovation Research grants to support his work, Moradi said.

Jian-Xing's companies are in the same Research Park building where Oklahoma's biggest biotech success story, Novazyme Pharmaceuticals, began. Its successor, pharmaceutical Genzyme Corp. operates its Oklahoma City laboratories there.

Genzyme bought Novazyme in 2001 for $229.1 million.

"A lot of big success stories and serial entrepreneurs are located there, and we're happy to be part of that," Moradi said.

Anderson said the foundation plans up to 10 buildings on the Research Park campus, with planning already under way for a second parking garage and a seventh building. No definitive dates for construction have been established, Anderson said.

The sixth building, which is the location for the Cytovance Biologics biopharmaceutical plant, is complete and awaiting FDA approval to begin operations.

"The FDA is over there right now," Anderson said. "It has begun validation of the Cytovance bioreactors, which have been installed. We look toward manufacturing protein therapeutic biologics within this year."

A local partnership that includes Chesapeake Energy Corp. founders Aubrey McClendon and Tom Ward took over the completion and operation of the Cytovance plant earlier this year after the original group failed to obtain financing.

Meanwhile, the Research Park won't be finished when the 10th building has been built. The foundation has obtained land across Lincoln Boulevard on the south side of NE 8 Street that will allow more development, he said.

The value of the Research Park's six buildings and parking garage approach $100 million, Anderson said.


--------------------------

Airpark development may include river reroute: Downtown OKC property stands to gain value if plan proceeds

by Brian Brus
The Journal Record
4/6/2006

OKLAHOMA CITY - Developers may seek to divert Oklahoma River water to the former Downtown Airpark to enhance its value, investment group partner and former Mayor Kirk Humphreys said.

"It could involve modifications to the river," Humphreys said. "Basically, you'd try to do whatever you can to get the maximum value and utilization out of it.

"But our plans are not firm," he said. "And the land will not come into play until the highway moves. … And that's when it'll really start to realize its value."

In February, Aduddell-Gibraltar Partners LLC placed the winning bid of $7.2 million for the 81-acre airpark property. Last year the airpark was closed and put into receivership after Downtown Airpark Inc. faced financial challenges, owing more than $7 million to creditors.

The new investment partnership is composed of Aduddell Cos. and Gibraltar Investments, headed by Grant Humphreys. His brother Blair and father, Kirk Humphreys, also are involved in the deal.

Kirk Humphreys said he expects environmental-impact studies on the area to be ready for review within a few weeks, with closing on the deal to follow shortly thereafter. Developers will weigh options for the land then, he said.

"Who knows what direction it could take?" Humphreys said. "We haven't even hired a planning firm yet."

Pat Downes, who had a small interest in the property when it was turned over for sale, said river diversion or the creation of an inlet from the river nearby was explored in the conceptual master plan originally published by the River Development Trust.

"It shows an architect's rendering of what that property might look like with water features brought onto the property itself," said Downes, who is also director of development for the Oklahoma City Riverfront Redevelopment Authority.

"They've acknowledged the existence of the concept," Downes said when asked if developers had approached him about possible river diversion. "But nobody has said, 'We're going to go do X, Y or Z.' I don't think they're there yet."

As an example of one possible outcome, Downes pointed to the inlet created near the Chesapeake Energy-sponsored boathouse near the Bricktown Canal. He said such construction off the river "is a fairly simple process."

"I know they're discussing some possibilities," Downes said. "I suspect they're thinking about those opportunities."

Oklahoma County assessor's office records show much of the airpark lies in Federal Emergency Management Agency's 100-year floodplain zone. Such FEMA-defined boundaries describe zones of the probability of water covering an area within a particular period - a 100-year floodplain means that historical records show a 1-percent probability of flooding each year.

Downes and Kirk Humphreys both said the park was not in the 100-year floodplain. Assessor's records, which are based on FEMA data, show otherwise. Humphreys said the construction of river dams in recent years would likely change those zones.

The Oklahoma City Zoological Park was founded at the site and was moved to NE 50th Street because of flooding problems in the early 1920s before the Army Corps of Engineers straightened the river. The airpark was built later.

City Manager Jim Couch said city officials would be open to a proposal to somehow divert river water to development.

"We'd work with them on that. We think that could be an amenity to the river, if they'd like to do that," Couch said. "I have talked with Kirk (Humphreys) about it, his development, but that particular option was not discussed."

Downes said, "Typically by adding shoreline, you add value. But you have to be careful how much money you spend creating that shoreline. … In general, waterfront property has a higher value than not waterfront."

Downes said residential or commercial development, "along the waterfront with views of the Oklahoma City skyline across the water, would be a very attractive development model."

Grant Humphreys said earlier that the property would likely be held without development for three to five years while Interstate 40 is realigned.


-------------
Mixed-Use Office Development for Memorial Corridor

BY KEVAN GOFF-PARKER
THE JOURNAL RECORD

From The Journal Record
Site for sore eyes

OKLAHOMA CITY – The 31.13-acre Memorial Business Park planned for northwest Oklahoma City may just be in the platting stage at the Oklahoma City Planning Commission, but for brothers Matt and Eric Roberts, managing members of Colonial Development, the vision is clear.

“This is a continuation of the Memorial corridor,” said Eric Roberts on Thursday. “This has finally come our way, and the time is right.”

As developers, the brothers said they envision a business park with a mix of upscale restaurants, retail shops, businesses, garden offices and possibly several hotels. If approved, new streets will be developed with names like “Memorial Park Drive,” and “NW 135th Street.”

A family-owned business, Colonial Development was started by the brothers’ grandfather, Temple Thompson, in 1961. Thompson had a knack for putting together business deals and land development. His daughter, Phyllis Brawley, and grandsons followed suit. Brawley is the mother of the Roberts brothers.

Once approved, the development should be built on the southeast corner of Lake Hefner Parkway and Memorial Road. The development is adjacent to the Kilpatrick Turnpike.

“We’re working all aspects of Memorial Business Park’s development,” Eric Roberts said. “We’re the third owner of the property. Our grandfather purchased 80 acres in 1958. Part of it was sold off for the Quail Creek Golf Course and houses in Quail Creek.”

Colonial Development has been busy in recent years developing the 40 acres that were left. About 10 acres of the land was used to create Stone Brook, a gated community with homes that average $300,000 to $350,000 at Clear Brook Road and Memorial Road. What remains of the original 80 acres will be used to develop Memorial Business Park.

The development company also sold different parcels of land that were later used to develop northwest Oklahoma City’s Nantucket Condos. The company also owns Colonial Plaza at May Avenue and Britton Road.

“It feels great,” Matt Roberts said. “We’re excited, and we’re ready to put this deal together and get busy. We’re ready to start once the City of Oklahoma City approves our plans.”
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  #70  
Old Posted Apr 11, 2006, 2:20 AM
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1 Devon will not build a 60 story tower. be happy with the pretty upgraded sign.

2 THey need to fix the ped tunnel in OKC as the whole east side is rancid and parts are still unuseable

3 While bricktown is doing great things (hell my friends 4 plex condo is coming along nicely) but the turnover is still too great. The city is going to willy -nilly with the tax abatements and does not have a cohesive system with the County on-board to even out the taxation issues. That must be fixed first

4 As I have said for years, a grocery store must come sooner rather than later, and the Gazette actually said Homeland might make it happen. Time will tell. I hope it happens, so my property values will go up.

5-the west "of the tracks" part of DT is growing slowly, which is good. The hotel bars and cafes are actually drawing more and people shuttling between the Art Museum (for example) and Bricktown at a more regular pace.
(Automobile alley is DEAD) but at least Cafe do Brasil reopened and has a great Bar upstairs (sans their liquor license issues) I hope more, similar places come along for OKCs sake.

Ciao, and Hook 'em Horns,
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  #71  
Old Posted Apr 11, 2006, 3:53 AM
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There was a grocery and a drug store in one proposal for the Deep Deuce area, but the out-of-town developer was chosen over the in-town developer. They did not have any of that type of retail in their proposal. That type of retail is still a problem in the downtown redevelopment plans of most cities.

As far as the creation of more canal level retail by digging out under the existing buildings, I hope they have fewer issues than we did with the JDM Place building. Ours was pretty challenging in a structural sense, but in some aspects it was easier since it occurred during the construction of the canal as it gave us more room to operate.
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  #72  
Old Posted Apr 13, 2006, 12:22 AM
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There's still a grocery and some other specific retailers cited on the wesbite for the Triangle. I think an area with 800 units (about the number we currently have downtown) can support a smallish grocery store, or even a large with help from other developments outside the Triangle.
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  #73  
Old Posted Apr 14, 2006, 1:15 PM
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Cool stuff. Thanks for taking the time to share this.

I'd like to see OKC get a new signature 40-story tower. That would look great right in the middle of that downtown cluster.

--don
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  #74  
Old Posted Apr 15, 2006, 5:08 AM
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Quote:
Originally Posted by Capt AWACS
1 Devon will not build a 60 story tower. be happy with the pretty upgraded sign.

2 THey need to fix the ped tunnel in OKC as the whole east side is rancid and parts are still unuseable

3 While bricktown is doing great things (hell my friends 4 plex condo is coming along nicely) but the turnover is still too great. The city is going to willy -nilly with the tax abatements and does not have a cohesive system with the County on-board to even out the taxation issues. That must be fixed first

4 As I have said for years, a grocery store must come sooner rather than later, and the Gazette actually said Homeland might make it happen. Time will tell. I hope it happens, so my property values will go up.

5-the west "of the tracks" part of DT is growing slowly, which is good. The hotel bars and cafes are actually drawing more and people shuttling between the Art Museum (for example) and Bricktown at a more regular pace.
(Automobile alley is DEAD) but at least Cafe do Brasil reopened and has a great Bar upstairs (sans their liquor license issues) I hope more, similar places come along for OKCs sake.

Ciao, and Hook 'em Horns,
Capt-AWACS, Forum Alpha Breeder Male
West of the tracks resembles downtown Houston. Hobos big time. Jesus House, County Jail, Rescue Jail, etc, etc. You can call me the anti-Film District.

The city did a survey and I think they may try to lure one of Whole Food's smaller urban markets... or maybe one of HEB's urban brand. Though there aren't any suburban HEBs in OKC right now.
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  #75  
Old Posted Apr 15, 2006, 6:17 AM
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Kid, I don't think you have ever been to DT Houston, but the theatre district, light rail, Bayou Place, and over 100 bars and restaurants plus a REAL ballpark and Arena are nothing like OKC west of the tracks. The hobos DT stay near the South Texas College of Law, the Hobos in OKC area moving onto to Edmond while keeping a good base DT.

HEB will never come to Oklahoma because of the stupid liquor laws. HEB makes the most money (and margins) off of beer and wine sales. West of the tracks looks more like DT Amarillo than Houston. Homeland will come before Whole Foods, but even a Homeland like the mones on north May would be better than the nothing there now.

Ciao, and Hook 'em Horns,
Capt-AWACS, Oklahoma, A Native American word for "Trailer Park"
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  #76  
Old Posted Apr 17, 2006, 5:24 PM
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Oklahoma City Forumer's List

Hey guys, sorry for getting off topic here but I was wondering if anybody would be interested in helping out with putting together a list of all the Oklahoma City forumers so I can post it on the How many forumers do we have per city? thread I created on Skybar. I also need it so I know exactly how many of you forumers we have.

You can either post it yourself or you can send me a private message with the names and I'll post it.

Here is a link to the thread: http://forum.skyscraperpage.com/showthread.php?t=103189

Thanks!
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  #77  
Old Posted Apr 29, 2006, 2:50 PM
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Norman: ~9-10 story Embassy Suites Hotel & Conf. Ctr. - University North Park

I don't know if this has been mentioned anywhere, but, here it is anyway. . .
A little bit of something for Norman:


Hotel and CC Slated for Norman, Okla. (4/27/2006)
http://www.meetingsfocus.com/news.asp

SPRINGFIELD, MO. —John Q. Hammons Hotels & Resorts (JQH), based here, plans to develop a hotel and a conference center as part of the University North Park mixed-use development in Norman, Okla.

The nine-story hotel, expected to carry the Embassy Suites name, will house 240 guest rooms and JQH will develop and manage the property.

The stand-alone 65,000-square-foot conference center will be owned by the city of Norman and managed by JQH.

Construction on both projects is scheduled to begin next March. An opening date has not been set.





Published: April 27, 2006 12:00 am
$50 million hotel project announced
The Norman Transcript
By Carol Cole
Transcript Staff Writer
http://www.normantranscript.com/site...tory_117002948

Plans for a 65,000-square-foot conference center and a 10-story, 240-room Embassy Suites hotel in the University North Park development in west Norman were announced Wednesday at City Hall.

The estimated $50 million project would be developed and managed by John Q. Hammons Hotels and Resorts LLC, based in Springfield, Mo. Groundbreaking is planned for spring 2007, with the company already initiating the design phase in the development east of Interstate 35 between Robinson Street and Tecumseh Road and west of Max Westheimer airport.

“I am just ecstatic,” said Mayor Harold Haralson. “It’s taken a lot of hard work.”

Hammons, who was present at the announcement, said his company had been studying the area for some time and is impressed with what is planned for the University North Park development.

“We are honored to be a part of such a visionary development and know that as it comes to fruition, it will be a source of pride for not only Norman, but for all of Oklahoma,” Hammons said.

University of Oklahoma President David Boren said Hammons hotels are “top quality” and the new hotel and conference center would help the city and university attract more national and international conferences.

“I know from friends … that these properties are well-developed and well-maintained,” Boren said.

“We are unable to find space for these conferences. So this is a great asset, not only for Norman but for the university.”

There is a contingency on whether the project will happen, that of approval of the University of North Park Tax Increment Financing or TIF District.

“We need the TIF. … We absolutely have to have that,” Hammons said. “You need this and your city will thrive better when that happens.”

He said he hoped the TIF would be approved or he wouldn’t be here.

“I like this area. I like the strength of the market. I like the freeway system,” Hammons said.

The City of Norman would own the conference center, with a contribution of $15 million planned from the TIF District. Hammons said he would supply whatever the difference might be.

“This is an example of the opportunities that we could miss if we don’t approve the TIF,” Boren said.

“It is my profound wish that it should be (approved,)” Haralson said. “But as you know, council sometimes has its own mind. They have to make it up. My sincere hope is that we will pass the TIF.”

Hammons operates more than 60 hotel and resort properties, including two in downtown Oklahoma City and one in Tulsa. Since 1958, he said he has developed more than 173 hotels in 40 states.

“I build for tomorrow, not yesterday,” Hammons said. “Quality always sells and quality is always in demand.”

He said being in a university city was one of the keys to his development philosophy. A prepared release from the company indicates they prefer to locate near state capitals, airports, corporate headquarters or office parks in secondary and tertiary markets.

“We like university and capital cities because in recessionary periods, kids still go to school and politicians never get dismissed,” Hammons said. “I-35 is profound. The University of Oklahoma is profound. And the market is still capable of doing a lot more business.”

Boren said they worked with the airport committee on the project.

“In regard to the height, we are located in areas where we are protected,” Hammons said. “Our 10-story hotel that we planned is within the guidelines of protection on that so we’re all right.”

Boren said pilots will choose to land in Norman because of the mall and hotel.

“And all of these plans have protected the glide path into Norman. … Only very low buildings will be allowed (in the glide path) and there is an additional buffer space for the glide path itself. So it is very well protected,” Boren said.

“All in all, it’s been a great day,” said Sherri Rogers, executive director of the Norman Convention and Visitors Bureau. “And we need meeting space desperately in this town.”

Haralson said the project cements the vision the city has worked on.




Also:
Published: April 28, 2006 12:15 am
TIF project plan recommended
The Norman Transcript
Statutory committee sends plan forward by unanimous vote
By Carol Cole
Transcript Staff Writer
http://www.normantranscript.com/site...tory_118011133
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  #78  
Old Posted May 8, 2006, 12:05 AM
shane453 shane453 is offline
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Location: Oklahoma City
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Purchased 7 years ago for $5.5 million, sold now for $21 million! Can you believe that price increase?!?! Crazy! DT OKC real estate values have truly skyrocketed. Not only did the mysterious California investors buy the tower but also the 14 story buildings attached. It sounds like they're going to refurbish all of the offices but also we can't rule out some residential uses. Either way it will take a lot more vacant space away- either by signing new tenants or converting away to residential. Great news!

The beautiful 32 story tower with its grand banking hall and two 14 story buildings are included in the sale.

It's almost a million square feet of office space! (999,651 sf)



First National Center bought for $21m


By Richard Mize
The Oklahoman

California investors bought First National Center Friday in a $21 million deal that could change the tenor of an already dynamic downtown Oklahoma City.
The buyers, who were not revealed, have no connection to Oklahoma, said Tim Strange of Sperry Van Ness, which handled the sale of the city’s largest downtown office property.

"Plans are to bring it back to its former glory as the crown jewel of downtown Oklahoma City. To fill it up — and dress her up and take her to the ball. Have a centennial ball in the Grand Banking Hall," Strange said. "This deal really came together, from inception to closing, in 48 hours," he said.

Sperry Van Ness’s Jason Little, who represented the buyers, said he could not provide specifics on the new owners’ plans for the office buildings.

"They’re pretty creative and they’re not ruling anything out," Little said.

First National Center comprises the original 32-story tower of 451,086 square feet built in 1931 at 120 N Robinson, a 14-story building of 201,915 square feet built in 1956 at 120 Park Ave. and a 14-story building of 346,650 square feet built in 1974, also at 120 Park Ave.

The purchase puts the distinctive yet largely empty property in new hands for the first time since 1999, when developers Joel S. Hoffman and Mitchell Wolff of Parsippany, N.J., formed First National LLC and bought it from the nonprofit Feed the Children for $5.5 million.
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  #79  
Old Posted May 22, 2006, 5:37 AM
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Hot Rod Hot Rod is offline
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It is amazing and very exciting to see the real estate and construction boom in downtown Oklahoma City. Hopefully this will lead to more exciting announcements - we've all been waiting to hear!!!
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  #80  
Old Posted Jan 2, 2007, 10:18 PM
shane453 shane453 is offline
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Wow, haven't posted here in a long time. For a quick update summary of the several months I haven't posted, a lot of the projects detailed in this thread are complete, nearing completion, and beginning construction. The area surrounding downtown is like a ring of churned up dirt and the sounds of construction. Most projects have done very, very well with pre-leasing and more announcements continue to come up.

The biggest deal, in my opinion, is developer Greg Banta's acquisition of 30 historic properties along 10th street in Midtown. He has begun renovating almost all of them- placing banners dubbing the development the "Midtown Renaissance" throughout the district- I think we'll see well over 1 million sf of office, retail, and residential space along NW 10th leased by the end of this year as a result of his efforts. Midtown is starting to look beautiful and all kinds of local retail tenants are announcing moves and new locations in Banta's retail properties.

As the downtown market continues to heat up, rumors are starting to fly in real estate circles. The biggest rumor is the 40-story office tower rumor that originated when local FSB architecture showed renderings of the building at presentations. A few more curious ears have been grabbed by the following pictures:

Light rail?


A glassy highrise in the Triangle?


This model is in the gallery of TAParchitecture, developers in charge of several major downtown projects including the Triangle.


-------------------------------

68,000 people turned up downtown for the Opening Night 2007 celebration:



More photos of the event are here: http://forum.skyscraperpage.com/showthread.php?t=122834

Last edited by shane453; Jan 2, 2007 at 11:07 PM.
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