Yeah, but for the price it's going to take to get it, I doubt the Lunch Box guy could afford the rent (see Preftakes, Nick: "not sentimental")

I doubt un-sentimental Nick is going to keep the rent cheap at the current site, either. None of the properties he has been acquiring in that block have been inexpensive. He paid $750,000 for that 3,500 sf Lunch Box building -- it had sold just seven years before for $130,000.

The only way he can justify his invesment is to develop and although there are inherent limiations and areas of history to contend with, something has to give.

why do I get the bad feeling a slice of homemade pie at the Lunch Box is soon going to cost $12?

In all seriousness, The Lunch Box has a powerful customer base - one Nick doesn't want to upset. But the Union station would have additional cost of having to be renovated, and quite frankly, I just don't see it going to the Lunch Box. Not sure what this all means - but I seriously suspect the station would have a bigger or more upscale tenant.

If the Lunch Box doesn't find a new location, it's days are numbered.

Why would he pay $750K for a small single-tenant building if he didn't plan to do something with it?

The fact he wants to demolish the buidling directly to the west underscores his ambitions for that stretch.


To put the LB pricetag into perspective, about the same time he paid just slightly more for the Carpenter Square building, which is about five times the size and on a great corner.

Well GM, thanks, I think. I guess you didn't catch a small scoop I got on Devon tower ...

The truth is I have a very symbiotic relationship with this site. I would suggest to you there are story ideas I get here and elsewhere (most notably Dustbury), but that there are just as many stories I break that are then posted here and followed by healthy discussions.

I realize, of course, that's it's sport to hate on the local paper/news site and that's ok too.

Well actually it was genuine, and I looked for a thread titled about it, not finding it I assume it was found in newsok, be4 okctalks.

I'm just feeling a bit defensive today gmwise. Sorry if that came off as snippy.

OK, youngsters, quit your fussin'.

Back to topic, about the Union Bus Station as I just said in Steve's OKC Central blog (http://blog.newsok.com/okccentral/2009/10/22/cool-stuff/),

. . . and, by the way, when a very small little boy I remember being in the 2nd floor of the Union Bus Station when it still had a 2nd floor, standing with my mother up there as we were about to depart OKC to somewhere, probably California — the 2nd floor area was at the north end and it had a balcony which overlooked the 1st floor . .
Anyone else remember the 2nd floor?

I do not remember the 2nd floor. Of course, I only used the bus station once. I used in back in '01 to go out to DC for my second year of law school. It was... an eye opening experience. Teach me to be too broke to afford a plane ticket.

I hate to be that guy, but I really don't like the food at the Lunch Box. It's like Furr's Cafeteria, only not name brand. I've eaten there a few times, and I am fairly renowned in my office for being a picky eater, but it is not my cup of tea. Let's just say that while I understand it's an OKC tradition, it's not one that I'll particularly miss if it goes away. I mean, it's not Coney Island. :)

So with Devon reaching substantial construction milestones and employees moving early next year, has anyone heard what is up Nick Preftakes sleeve yet with his block on Main St, across from the Devon Energy Center? Surely he has something up his sleeve and the time is nearing prime to start rehabbing/demo/construction so it will be ready not too long after Devon moves in.

I too am dying to know this. The economy is starting to heat up again.

I know he received a demolition permit a few months ago for one of the small buildings near the Lunch Box.

It's hard to imagine what his plans might be, as several of those properties have historical significance (Bus Station, Carpenter Square, Auto Hotel) and even the one that doesn't (Lunch Box) would spark an outcry if he wanted to pull it down.

That block just needs to be renovated. There's already such awesome urban fabric on that one block. I'm not even sure if there is one block just like it that's that dense, almost totally preserved, in vintage. Seeing any of those buildings go would be a SandRidge Redux. And I would book a flight back from Europe instantly if that were to happen. I think that would make a lot of people livid right now.

Future site for Convention Center?

j/k

Future site for Convention Center?

j/k

Thank you for the j/k. That was a horrifying thought. I agree with Spartan. Just renovate that awesome block.

I am sure it will be something to compliment Devon employees, probably hotel or condos, either is win win situation...I say wipe out the whole block, except for Hotel Black...

He bought the lunch box from me a couple years ago. I will never tell.. sorry Spartan I have all the secret info..

I hated to see frank bruno's building demolished. Nick is still trying to buy the union bus station.

Spartan if you were a half way cool guy, I would let you in on a lot more info. Nick and I are good friends.. Frank papahronis sold me the lunch box property back in 2001..

R&W, nice little profit you made on that Lunch Box property!


Given how much Preftakes has paid for these various properties, I'm sure he wants to pull some of them down and build up.

He didn't pay $750K for that little Lunch Box building just to collect rent from the restaurant (or any other tenant) as he has to be losing his shirt. And apart from One North Hudson, all those properties are either completely empty or vastly underutilized.

I am still curious to see if the guys out of Houston will sell the Bus Station to him. I hope so he is a really great guy..

Here are all the properties he owns.

Apart from One North Hudson (15) and the building next to it (14) for which he paid $5,000,000, he has spent over $8,000,000 on the other properties, all of which are small (one or two story) and generate little revenue or are empty.

The only way to make this investment come close to working is to pull down pretty much everything and rebuild. I'm sure that's his plan, although perhaps he will re-purpose the parking garage or just use it as part of the new development.

http://www.tnttri.com/OKCTalk/precor4.jpg

http://www.tnttri.com/OKCTalk/precor3b.jpg

Pete.....Thanks, your color coded Maps are Awesome! Love how you keep track of Okc real estate dealings.

:headscrat

Pete you forgot to include the 50 feet of parking lot west of #12 or Frank bruno's old building. cannot tell if thats in the green or not. have you noticed the nice fence he put up for the Buses to maneuver around.

Isn't the old Bruno building #12? It's shown in the photo but now demolished.

Yes thats frank bruno's building he also owned the small lot to the west of the building. I believe it was about 50 feet wide.

man #9 is a heck of a deal for 90K

He did not approach coney island

BTW, 5 & 6 were purchased together as were 14 & 15.

I gotta say, with the money used to buy the block, he didn't do it just to renovate whats there and leave it alone. Prepare for the eventuality that they're coming down for a new development of some sort.

reno & walker,
could you possibly tell us when we can expect to hear or find out about mr. preftakes' plans for that block? will it be soon?

reno & walker, is there any way you can tell us when we can look forward to hearing or finding out about mr. preftakes' plans for this block? will it be soon?

Still trying to acquire union bus station

Spartan if you were a half way cool guy, I would let you in on a lot more info. Nick and I are good friends.. Frank papahronis sold me the lunch box property back in 2001..

Oh, well now I will definitely have to start sucking up. Just let me know when I've approached half-way cool guy status! haha

By the way, would the bus station HAVE to be moved for this block to be redeveloped? I think the Union bus station there is really cool. Perhaps it could make a nice restaurant if it did have to be moved away from the site for redevelopment. Perhaps an alternative could be connecting the development through the city parking lot in the interior of the block. I am sure the city would sell that to a prospective buyer.

As long he puts up new buildings he could tear the whole block to the ground for all I care.

No, Kerry...there's character there.

Some things you have to save:
http://photos-a.ak.fbcdn.net/hphotos-ak-snc3/hs122.snc3/16938_1332611080220_1379330057_965746_1671767_n.jp g

Spartan - how do you know the new buildings wouldn't have character? Why should something built 90 years ago take precedint over something built today on a planet that is billions of years old? What I don't like is when building are torn down and NOTHING is put back in their place. Of course, there is always the risk that the new strucutre might be uglier than what was taken down (Penn Station for example) but that is a chance I am willing to take.

I'd see that as a pretty short-sighted historic view there Kerry. I thought you were such a preservation proponent. I can't remember then name of the building with the green awning, but I would compare that much the same to the Montgomery. That building is a jewel, and you wouldn't want to see it go would you? That block is filled with mostly boring blah brick-faced buildings that have seen more neglect than care over the last 20 years. I would just say that we can't use a broad tipped brush when we look at it, it's got to be a fine point. Something like the city building is also a jem...id hate to lose it....which happens to be across the street from the Montgomery.

What's so weird here is that normally I would think that if someone was buying up land like that, they would have a plan for something to take up the whole block. BUUUUUT, with all the class A space opening up from Devon moving, there isn't really a need for new office space right now. So unless it's going to be built for a specific company, I don't get it. Otherwise, why would someone buy up land in a block like this.....the properties aren't all good investments....unless he thinks he's buying them for no other reason than to grow the value and sell them off later. In which case....borrrrring.

It's the Hightower and it's not on the same block we are talking about.

I'd see that as a pretty short-sighted historic view there Kerry. I thought you were such a preservation proponent. I can't remember then name of the building with the green awning, but I would compare that much the same to the Montgomery. That building is a jewel, and you wouldn't want to see it go would you? That block is filled with mostly boring blah brick-faced buildings that have seen more neglect than care over the last 20 years. I would just say that we can't use a broad tipped brush when we look at it, it's got to be a fine point. Something like the city building is also a jem...id hate to lose it....which happens to be across the street from the Montgomery.

What's so weird here is that normally I would think that if someone was buying up land like that, they would have a plan for something to take up the whole block. BUUUUUT, with all the class A space opening up from Devon moving, there isn't really a need for new office space right now. So unless it's going to be built for a specific company, I don't get it. Otherwise, why would someone buy up land in a block like this.....the properties aren't all good investments....unless he thinks he's buying them for no other reason than to grow the value and sell them off later. In which case....borrrrring.

Bomber - as Metro pointed out, the building with the green awning is not on the same block. Also, I am not a preservationist, I am a new urbanist (I think). If tearing down old buildings and replacing them with new buildings increases urban density then I am all for it. If density can be increased while re-using exisiting buildings I am all for that as well. My goal is increasing urban density.

The City office building is really cool but Preftakes doesn't own it and I don't see the city giving up ownership. The bus station would make a cool Johnny Rockets.

One idea is to move the Lunch Box to a renovated bus station. It's a perfect spot for a diner and the Lunch Box building is right in the middle of all his properties.

Then, he could develop condos/offices between the bus station and One North Hudson along Sheridan. He could also do the same along Main Street (I'm afraid all those small buildings are going to come down) and use the big parking garage to service both new developments.

... and use the big parking garage to service both new developments.

What is the current condition of the auto-hotel. Is it currently being used a parking garage? If not, how bad a shape is it in?

The American Motor Hotel is currently used as a parking garage but could be easily adapted for other uses:

http://www.oklahomacounty.org/assessor/Searches/sketches/picfile/2730/R010018392001yA.jpg

Here are the properties along Main, moving east to west:

#8 Carpenter Square
http://www.oklahomacounty.org/assessor/Searches/sketches/picfile/2730/R010018385001tA.jpg


#7 408 W. Main
http://www.oklahomacounty.org/assessor/Searches/sketches/picfile/2730/R010018380001uA.jpg

#6 412 W. Main
http://www.oklahomacounty.org/assessor/Searches/sketches/picfile/2730/R010018368001sA.jpg

#5 416 W. Main (I believe this is currently used as apartment(s)
http://www.oklahomacounty.org/assessor/Searches/sketches/picfile/2730/R010018356001uA.jpg

#1 434 W. Main
http://www.oklahomacounty.org/assessor/Searches/sketches/picfile/2730/R010018284001xA.jpg

And for good measure, here are the properties along Sheridan, again moving east to west:

#15 One North Hudson
http://www.oklahomacounty.org/assessor/Searches/sketches/picfile/2730/R010018176001uA.jpg

#14 407 W. Sheridan
http://www.oklahomacounty.org/assessor/Searches/sketches/picfile/2730/R010018188001sA.jpg

#13 Lunch Box
http://www.oklahomacounty.org/assessor/Searches/sketches/picfile/2730/R010018200001yA.jpg

#12 Demolished
http://www.oklahomacounty.org/assessor/Searches/sketches/picfile/2730/R010018236001vA.jpg

#11 Bus Station
http://www.oklahomacounty.org/assessor/Searches/sketches/picfile/2730/R010018260001uA.jpg

Great pics Pete. To clarify, #13 barely shows the lunch box and #15 is he old Hotel Black in case anyone is wondering.

I would really, really hate to see 1 N Hudson, Auto Hotel, or the City Office building come down. As far as I am concerned there is no development that could EVER warrant the demolition of either building. Along with Hightower, these buildings are the most beautiful concentrated set of large historic buildings we have left.

Plus, all three buildings are in good shape and currently being used. The Auto Hotel is the only one that should even be debatable.

Tear it down and build an awesome high-end retail shopping place a la City Creek in Salt Lake. That my $.02. http://www.downtownrising.com/index.php/retail

I would really, really hate to see 1 N Hudson, Auto Hotel, or the City Office building come down. As far as I am concerned there is no development that could EVER warrant the demolition of either building. Along with Hightower, these buildings are the most beautiful concentrated set of large historic buildings we have left.

Plus, all three buildings are in good shape and currently being used. The Auto Hotel is the only one that should even be debatable.

I can think of thousands of developments from around the world that would warrant the destruction of every brick on that block.

Tear it down and build an awesome high-end retail shopping place a la City Creek in Salt Lake. That my $.02. http://www.downtownrising.com/index.php/retail
Wow I hope not, we tried that along time ago

Wow I hope not, we tried that along time ago

No. What OKC tried before was 'tear it down and they will come". That is how we ended up with more acres of grass than any downtown in America.

He's got to at least preserve the bus station's sign. The station itself is not all that great (at least in the picture above).

I love the bus station, and the Carpenter Square building. The bus station would make a great restaurant, with outdoor dining under the awnings. The other buildings, rehabbed, would be great for retail and/or restaurants. We've got all the Core to Shore land to build developments. Let's keep a small piece of our past, and create a great little destination area.

No. What OKC tried before was 'tear it down and they will come". That is how we ended up with more acres of grass than any downtown in America.

Which is really why we shouldn't tear anything else down until the market at least dictates it. We have SOOOOO much room with real estate committed to nothing or to surface parking. We are in a great position going forward to preserve what's left of our urban heritage AND create a totally new one. We don't have to give up anything for new development and it's totally foolish to do so. What we probably really need is a complete moratorium on demolition for at least a decade. We should at least try and build on what was torn down first.

Now if we were a city with limited space, then I would agree, but we're the complete opposite. The worst thing we could do is tear down buildings in order to leave other lots sitting empty. Doing so does nothing to help the current lack of density problem and really slows down the property appreciation of all of downtown. It won't really start improving until its built out and denser to achieve the synergies that are the whole point of city centers to begin with.

I have a horrible feeling about this. The thought of this whole block coming down is extremely depressing, especially when some of the buildings are currently being used, with others that could most likely be rehabbed. Unless he simply plans to resell for profit, I can't imagine any other reason to buy these buildings than to tear them down. That block has the best urban character in the city in my opinion. With all of the development nearby, these buildings would fill with tenants in no time, even if they had to be rehabbed. This block has amazing mixed use potential. In ten years I could picture this block filled with pedestrians. Let's preserve what character we have left, and build on one of the MANY empty lots in the downtown area, because tearing down these great buildings makes little sense. Oh wait I forgot, Preftakes could care less what some random urban enthusiast desires, as a business man he is probably just trying to make a profit.

If I am going to accept that these buildings are going to be demolished, not only does the new development have to have equal or more density in terms of building height and width, it would have to create a mixed use environment that is built for pedestrian use. For example, using this site for the convention center would be an absolute failure and disaster.

What is 15 One North Hudson being used for? That building is prime for condos or apartments. This block reminds me of Seinfeld's neighborhood in Manhattan.

lep - I don't think he will be tearing down the significant structures on that block. I agree with Pete - all the one and two story buildings are not long for this world.

Kerry, I will have to disagree with you. An enjoyable urban city has more than just population density. You have to have some character and history mixed in with all of that. Also, your statement about why we can't build something with just as much character is completely wrong in my opinion. No matter how much I like the design of any new building, it does not match the character of most historic buildings. I think buildings, if well kept, can only increase in character. They will have more character because 50 years from now we will have a completely different architectural style. A new modern. And since today's new "modern" building would no longer be modern 50 years from now, it would have more character because that style of building would no longer be constructed. I hope that makes sense.

But, this is only my opinion on the matter, and it may be completely different from yours.

No, no, no. Mr. Preftakes: Please don't demolish those buildings! Look at that street-level retail space, reiminiscent of Automobile Alley and not much else in OKC. Look at the character of several small buildings of varying heights and styles, most of which looks to be in good shape. There is precious little of this kind of thing anywhere in town. Even if we could be assured of a 40-story skyscraper on that entire block, it still would be a poor substitute. Don't get rid of this history! There are so many vacant lots where another brand-new structure could be built.