Regency Tower

[oakhollow]

333 NW 5th
cost=$17.2 million 6/21/10
finish=1967
height=288 feet / 24 stories
274 apartments


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Tenants

Health Nut Cafe
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County Assessor Record
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[rcjunkie]

I was in the office at Deep Deuce on Saturday checking out apartments for one of my friends and I was told something very interesting. We kind of got to talking about where else she had been looking for apartments and Regency Tower got brought up. The worker said that last Monday it was finalized and that the owners of Deep Deuce had bought Regency Tower and that "tons of renovations" were to come. I wonder what kind of renovations are going to take place and I hope the whole building is getting renovated. I looked at Regency Tower, ultimately choosing Deep Deuce instead, and I thought it had tons of potential just not right now. The rooms were nice enough but the hallways and the outside need a lot of work. Anyone heard of this or what type of renovations they are talking about?

The Regency Towers did indeed just sale/change ownership, I read an article in the Journal Record last week but the name of the new owners slip my mind, I'll try to find the article and reply.

[BBatesokc]

I hope they do make lots of improvements. I lived there for awhile in two different units. I was living there during the bombing too. I really liked it but it had some 'issues.'

First there were lots and lots of fire code violations. They actually had signs on the fire escape telling tenants to put empty boxes and other garbage in the fire escape for removal later by the staff. When I lived there, twice the fire alarms went off and we had to evacuate. I quickly realized that you didn't want to be in the parking garage when this happens (or exit to it). The garage doors were electric powered and when the fire alarms go off then the electricity to the doors is cut off - with no manual override. Also, there were no garage emergency lights and the doors to the stairway locked when the alarms go off - basically meaning you're stuck in a dark garage if there was a fire. Also the elevators stop and open. When I lived there it was mostly older people and many wouldn't even attempt to evacuate when the alarms went off because it meant they had to walk down the stairs (up to 25 stories if I remember correctly). What I really hated was the huge gaps under each apartment door. Someone could lay on the floor and look right into your apartment. Not to mention they had the chiller type air conditioning and my apartment never got cold and they wouldn't even turn on the A/C until summer - so on those rare Indian Summer days you just had to sweat it out. Not to mention they had some really scary tenants living there (along with some really great ones).

But nothing could beat the South facing view. I loved my corner apartment on about the 21st floor.

[DirtLaw]

It has some potential, but it will need a ton of work. That place is a dump. I looked there when I lived downtown but decided to live at the Montgomery instead. When I was there it smelled like a bowling alley and felt like an old hotel. They could do some cool things with it, but they will need to do some major remodel and changing of the layout.

[BBatesokc]

One thing I never got, and feel free to correct me if my thinking is off here, but after the bombing we were told by management the building was condemned as uninhabitable due to structural issues that even effected the elevator shafts. Months later when I got to move back in I noticed the fire suppression had not been brought back up to code as there were only sprinklers going up to the 2nd or 3rd floor. I inquired and was told they got an exemption as it would be too costly to put fire suppression any higher. I have always been under the impression that once a building is condemned or undergoes major renovation is has to be brought to current fire codes. I also was under the impression high rise residential buildings have to have fire suppression on all floors. I really don't know where I got this idea and haven't done any research. Anyone here know the law on this topic?

[Steve]

I'm not sure it was ever "officially" condemned. Management may have overstated the city's actions, though yes, the building was really messed up post bombing.

[BBatesokc]

I'm not sure it was ever "officially" condemned. Management may have overstated the city's actions, though yes, the building was really messed up post bombing.

That may be it. I remember though the management saying they needed the building 'condemned' and deemed uninhabitable for them to qualify for some major dollars from the gov't to rebuild and re-open.

[bombermwc]

It's interesting to me that this place sold for 17 million, and deep deuce is tagged at 26 million.

If they want to make some cash on Regency when they resell it, they're going to have to do some major updates considering the HASH folks didnt do much. And the fact the place is only worth 6 million more than the last time it "changed hands", which i believe was just an LLC change, that's not exactlly in pace with inflation.

[Kerry]

And the fact the place is only worth 6 million more than the last time it "changed hands", which i believe was just an LLC change, that's not exactlly in pace with inflation.

Have you seen what is happening to the price of real-estate around the country? There is deflation in the real-estate market so any price increase would be inconsistent. I think that is a testament to the value and strength of downtown OKC housing and a kick to the privates for those that support the Sandridge plans on the false assumption that developers aren't interested in the buildings they want to demolish.

[DirtLaw]

Have you seen what is happening to the price of real-estate around the country? There is deflation in the real-estate market so any price increase would be inconsistent. I think that is a testament to the value and strength of downtown OKC housing and a kick to the privates for those that support the Sandridge plans on the false assumption that developers aren't interested in the buildings they want to demolish.

Not everything is relative to SandRidge and their plans. I do not mean any disrespect, but not every thread need to be tied back into SandRidge and the people who support their plan.

[Kerry]

Not everything is relative to SandRidge and their plans. I do not mean any disrespect, but not every thread need to be tied back into SandRidge and the people who support their plan.

Your right - everything in downtown OKC operates in their own vacuums where nothing is related to anything else. That way people can ignore empirical evidence when it doesn't suit their opinion elsewhere.

Are you familiar with the term 'urban fabric'?

[earlywinegareth]

I found Regency's brutalist twin in the abandoned city of Pripyat a few miles from the Chernobyl nuclear plant.

http://www.chernobylee.com/articles/...hernobyl-8.php

http://thevelvetrocket.files.wordpre.../pripyat12.jpg

[Kerry]

I found Regency's brutalist twin in the abandoned city of Pripyat a few miles from the Chernobyl nuclear plant.

I'll say this, OKC has more than its share of brutalist buildings. It might be the largest collection outside the old Soviet empire.

[Spartan]

I wonder if the owners of Deep Deuce who have just bought Regency Tower ever plan on ........ finishing Deep Deuce.

[fromdust]

i hear regency sucks nowadays, so i hope the best. following the same vein, i know that tiffany apts are getting a huge makeover real soon as well. the owners have kicked out the riffraff so its about 40% occupied right now. a perfect time to do some big updates.

[oakhollow]

Anyone have any updates or heard any news on this?

[metro]

Don't think we were waiting on updates.

[oakhollow]

Nice response tool. Don't speak for everyone, some people might be interested and want to know whats going on with this.

[metro]

What update are you wanting.

[ljbab728]

That's what I'm wondering. If it's bought, it's bought. Maybe you're wondering if they're going to make any changes?

[BBatesokc]

Anyone have any updates or heard any news on this?

No worries, it was obvious what you were asking. I just haven't heard or seen anything. I really hope though that whomever owns it, they will do some serious upgrades.

[dmoor82]

I recently visited a buddy at The Regency and I noticed that they are rennovating The Entrance and offices as well as The 4th floor Billiards/Lounge and excersize room!Thats all I've seen so far!

[dmoor82]

This as what The Billiards/Lounge will look like!

[soonerguru]

Have you seen what is happening to the price of real-estate around the country? There is deflation in the real-estate market so any price increase would be inconsistent. I think that is a testament to the value and strength of downtown OKC housing and a kick to the privates for those that support the Sandridge plans on the false assumption that developers aren't interested in the buildings they want to demolish.

Great post. Agree completely.

[soonerguru]

I used to live there and loved it. It was a great place to live with a lot of cool and friendly people. I'm hopeful they make meaningful renovations because it is really an amazing place to live, and the view is only going to get better.