View Full Version : Convention Center




Laramie
10-31-2016, 09:12 AM
IMO They should change their plans and double the size of that Fairfield since it's going to be in that prime area next to CC. It would be nice to tout 1000 rooms next to CC.

Agree that we are ready for 1,000 rooms on the convention center site. It would put OKC in a position to lure some really big conventions.

Our leadership works within the means of their budget; therefore, they aren't likely to gamble with the convention center & hotel because it was the lease popular item on the MAPS III initiative.

We still need to figure out how we are going to acquire $10 million to fund the parking garage for convention center site.

Pete
11-09-2016, 08:19 AM
Only bidder, SMG, gets convention center contract
By: Brian Brus The Journal Record November 8, 2016

OKLAHOMA CITY – The only company to submit a bid to manage the new MAPS 3 convention center downtown was awarded the contract Tuesday.

The Oklahoma City branch of Pennsylvania-based SMG will also continue to manage the Cox Convention Center at the discretion of the Oklahoma City Public Property Authority, as well as operations services for an expansion area that may include surface parking.

Management and operations services will cost the city $200,000 for a base fee in the first year with cost escalation calculated for subsequent years. The company will also receive 10 percent of net income from food and beverages sales and incentive fees and service commissions based on performance.

SMG will be paid as well for pre-opening consultation services with a monthly retainer of $4,000, not to exceed $150,000 plus expenses. Those responsibilities include developing a booking policy for the center in cooperation with the Oklahoma City Convention and Visitors Bureau, marketing, sponsorships and creating catering menus. SMG will also help architects and engineers design the facility’s infrastructure and amenities.

Work on the $252 million project is expected to kick off this year. It is slated to open in 2020 in conjunction with the completion of a 70-acre central park and modern streetcar route, which are also part of a larger package of projects worth $777 million under the MAPS 3 temporary sales tax.

“This has been a hallmark week for us,” City Manager Jim Couch said. “Earlier this day we set the operating agreement for the MAPS 3 park, and then last Friday COTPA (Central Oklahoma Transportation and Parking Authority) entered an agreement to begin negotiations for the operation of the modern streetcar.”

“That’s a lot of progress being made on a lot of different fronts,” he said.

SMG held a similar position almost 20 years ago when it was chosen to manage the Cox, which was called the Myriad Convention Center at the time.

Spartan
11-10-2016, 06:08 PM
Agree that we are ready for 1,000 rooms on the convention center site. It would put OKC in a position to lure some really big conventions.

Our leadership works within the means of their budget; therefore, they aren't likely to gamble with the convention center & hotel because it was the lease popular item on the MAPS III initiative.

We still need to figure out how we are going to acquire $10 million to fund the parking garage for convention center site.

There is no way that OKC can keep 1000 hotel rooms on one site above 60% avg occupancy. St. Louis couldn't do that. Birmingham and Louisville come close bc they don't have nearly the inventory of small downtown hotels that OKC has. And both of those CC hotels suck bigly.

cinnamonjock
11-10-2016, 06:53 PM
Did you mean "bigly" or "big league"? :wink:

pure
11-11-2016, 11:24 AM
There is no way that OKC can keep 1000 hotel rooms on one site above 60% avg occupancy. St. Louis couldn't do that. Birmingham and Louisville come close bc they don't have nearly the inventory of small downtown hotels that OKC has. And both of those CC hotels suck bigly.

Marriott @ NCED in Norman is consistently at 70%-90% occupancy with its 964 guest rooms. Granted, about 10% of that are USPS students in town for Postal training but most of it is transient and non-postal conferences.

Source: I work for Marriott at this location. Over the years, business has had its up and downs but with a good sales team, it has stayed really full and busy the past couple of years.

Spartan
11-11-2016, 08:16 PM
Interesting, and good to know.

Have you seen the books, or is this just what has been said by management or colleagues? I'd also be interested to see if there was any change in occupancy after the subsidized John Q. Hammons hotel was built.

Also what is the NCED, is that subsidized? Obviously the Postal Service is a unique arrangement. For other events, is the Marriott able to offer discounts and incentives, and how are those funded? I suspect that is the case since you mentioned the good sales team, which is going to need some resources to work with.

That's the issue with these CC hotels. It's rare for them to actually have consistently bad occupancy bc cities often use the CVB or a public authority (often named "Industrial and Convention Development Authority" or something like that) to actually pay for deep discounts and huge incentives to lure these conferences.

Then out the other side of the mouth they trumpet the economic development spin-off of conventions, ignoring the surprisingly significant grand total for the continuous pay to play. I'm not at all against the CC, CC hotel, and OKC should pay to play, but it is what it is. We should be smart about it, and that's why hotels are often not over 800 rooms max, which is even pushing it.

ljbab728
11-21-2016, 09:26 PM
From Steve's blog.

http://newsok.com/naming-the-oklahoma-city-convention-center/article/5527801

stile99
11-22-2016, 08:39 AM
Mike Carrier sounds like a very smart man. I agree with every word he wrote.

However, there is a problem with the name Oklahoma City Convention Center, and that problem coincides with his point of confusion. While I really doubt anyone would really be dumb enough to show up at OCCC expecting a huge convention, I also wouldn't expect anyone to be dumb enough to show up at the State Fair Park looking for a location in Tulsa, something that apparently does happen.

That said, I still think that's the direction we should go. I know the fad is to take a kickback from some company to slap their name on it, but do we want to advertise the city, or a dying (but not fast enough, dammit) cable company, whose only tie to the city is a call center? And that can backfire and quickly become a joke. Ford Arena, anyone?

jn1780
11-22-2016, 09:13 AM
Depending on how much the convention center ends up costing, I easily seeing city leaders wanting to get the easy money from corporate sponsorship. If that happens maybe we can get a global company like GE to sponsor since they now have a presence in the city.

kevinpate
11-22-2016, 09:17 AM
Not sure I see a reason to not seek naming rights. Didn't seem to confuse folks on the arena downtown under the various brands over time. And the money, it ain't exactly chicken feed.

Zuplar
11-22-2016, 11:21 AM
Not sure I see a reason to not seek naming rights. Didn't seem to confuse folks on the arena downtown under the various brands over time. And the money, it ain't exactly chicken feed.

100% agree. We live in a world where companies are willing to pay millions just so something has their name on the side, why wouldn't we take do this. It's common practice and yes sometimes it takes a year or so to stop calling it the Ford Center, but oh well. My only complaint with it's current name is it's just a little too long. Should have just been Chesapeake Arena.

stile99
11-22-2016, 02:12 PM
Not sure I see a reason to not seek naming rights. Didn't seem to confuse folks on the arena downtown under the various brands over time. And the money, it ain't exactly chicken feed.

Do you disagree with the reason listed in the article? I agree if it is 'free money' then why not, but I thought the article made some really good points. I can tell you without looking it up that the Orlando Convention Center is in Orlando (example only, don't know if there is one in Orlando, don't care) but can you tell me off the top of your head where the Duff Beer/Buzz Cola/Moe's Tavern/Stupid Flanders Arena is (other than Springfield, obviously)?

As for causing confusion, apparently it did according to the article linked.

sooner88
11-22-2016, 02:20 PM
Do you disagree with the reason listed in the article? I agree if it is 'free money' then why not, but I thought the article made some really good points. I can tell you without looking it up that the Orlando Convention Center is in Orlando (example only, don't know if there is one in Orlando, don't care) but can you tell me off the top of your head where the Duff Beer/Buzz Cola/Moe's Tavern/Stupid Flanders Arena is (other than Springfield, obviously)?

As for causing confusion, apparently it did according to the article linked.

People are going to the convention center because of the city, not the name. It's not "free money" either... the sponsoring company is paying good marketing money to have their name associated with the center. I don't think there's any reason the city would not have a corp. sponsorship.

John
11-22-2016, 02:29 PM
I'm fine with the OKC Convention Center name; and I would expect individual spaces (grand ballroom, atrium, meeting rooms a, b, c, etc) to be where the corporate/philanthropic naming rights come into play.

Spartan
11-23-2016, 03:39 PM
Deleted.

Please find a more respectful way to express your point of view.


~ Pete

ljbab728
11-23-2016, 09:39 PM
We could always go the route of the Rose Bowl and call it the Oklahoma City Convention Center presented by Boeing. :D

stile99
11-24-2016, 08:12 AM
We could always go the route of the Rose Bowl and call it the Oklahoma City Convention Center presented by Boeing. :D

Like, plus one, upvote, heart, whatever. This checks both boxes, brands OKC AND gets the free money from the corporate sucker. I also like the sub-branding idea. Parking is brought to you by X, the Lobby is brought to you by Y, the concessions are brought to you by Z, etc. Make it rain!

Laramie
11-24-2016, 04:44 PM
If the corporate money is a difference maker ($1 - $3 million annual naming rights range) say something like the GE - Hertz -or the ConocoPhillips Oklahoma City Convention Center let's take it and run. Keep the Oklahoma City full brand name attached to the name of the convention center.

The naming rights money could go back into future improvement of the convention center.

stile99
11-24-2016, 06:46 PM
If the corporate money is a difference maker ($1 - $3 million annual naming rights range) say something like the GE - Hertz -or the ConocoPhillips Oklahoma City Convention Center let's take it and run. Keep the Oklahoma City full brand name attached to the name of the convention center.

The naming rights money could go back into future improvement of the convention center.

(Bolding added by me)

Another round of likes/upvotes/etc. Include the city in the name. In a timely coincidence, I was watching the parades this morning, and since I was looking, I noticed the branding, but I wasn't hit over the head with it. The announcers said something like "ConstructCo is proud to present the BFE Marching Band", and/or the banner on screen had, unobtrusively to the left, the ConstructCo logo, keeping the focus on the BFE Marching Band. The announcers then spent the 2-3 minutes talking up the band, not ConstructCo.

It is indeed possible.

baralheia
11-28-2016, 12:39 PM
Personally, I'm strongly opposed to simply naming the convention center after the name of the city and calling it a done deal. It feels like we're quickly becoming oversaturated with projects in that area being generically named "Oklahoma City <whatever>". In my opinion, simply naming it after the city lends no uniqueness or character to the project. I'm more in favor of naming the convention center after some prominent civic leader, in much the same way that the new Maps 3 Expo Center was named the Bennett Event Center.

That said, I wouldn't necessarily have a problem with combining the two ideas - for instance, San Jose's convention center is formally named San Jose McEnery Convention Center, though many locals simply refer to it as the McEnery Convention Center. I would not be opposed to something like that.

traxx
11-28-2016, 01:19 PM
It feels like we're quickly becoming oversaturated with projects in that area being generically named "Oklahoma City <whatever>".

While I agree with this because of renaming the Canadian river as the Oklahoma river and having the Oklahoma Blvd, I think the article made some good points for naming the convention center after the city. What should've happened is to have left the Canadian river the same, name the boulevard something other than Oklahoma and then name the convention center after the city.

HangryHippo
11-28-2016, 01:57 PM
While I agree with this because of renaming the Canadian river as the Oklahoma river and having the Oklahoma Blvd, I think the article made some good points for naming the convention center after the city. What should've happened is to have left the Canadian river the same, name the boulevard something other than Oklahoma and then name the convention center after the city.

This.

Teo9969
11-29-2016, 01:24 PM
Why not call it the MAPS 3 Convention Center?

It would be a good way to get convention-goers to ask "what is MAPS 3?" and then you can tell them all the investment we've done in our city.

HOT ROD
11-30-2016, 11:39 PM
I like 'Oklahoma City Convention Center'.

But another choice would be to follow Seattle's lead and call ours 'Oklahoma Convention Center' (Seattle's is called 'Washington State Convention Center').

Bullbear
12-01-2016, 09:20 AM
I like 'Oklahoma City Convention Center'.

But another choice would be to follow Seattle's lead and call ours 'Oklahoma Convention Center' (Seattle's is called 'Washington State Convention Center').

My problem with Oklahoma city Convention Center ( aside from being pretty generic in a sea of Oklahoma City named things ) is the abbreviation comes down to OKCCC which then confuses with Oklahoma City Community College. but at a loss as to a good name that identifies correctly without being corny.

Swake
12-01-2016, 11:15 AM
Red Earth Convention Center

Bullbear
12-01-2016, 11:58 AM
Red Earth Convention Center

I like that!

Geographer
12-02-2016, 10:53 AM
Red Earth Convention Center

....this refers to the number of republicans in the state, right? ;-)

warreng88
12-14-2016, 10:14 AM
MAPS 3 overage could go toward public garage

By: Brian Brus The Journal Record December 13, 2016

OKLAHOMA CITY – Cautious projections and cost savings on MAPS 3 projects are expected to leave nearly $39 million that hasn’t yet been earmarked, City Manager Jim Couch told City Council members Tuesday.

Couch also suggested how the money could be spent and still serve the goal of the $777 million Metropolitan Area Projects temporary penny sales tax program: build a parking garage near the new MAPS 3 convention center.

“Overall, we’re in good shape,” Couch said, adding that the overage also takes into consideration the recent economic downturn. “It’s not just for the convention center. … It’s for the park, it’s for the modern streetcar, it’s for the potential convention center hotel, and it would be for the Chesapeake Arena.”

Couch said the parking garage would fall under the oversight of COTPA, the Central Oklahoma Transportation and Parking Authority, and they would need to commit only $10 million to help the project.

Additionally, the 77-acre central park also in the works under MAPS 3 is running into increased costs for land acquisition and remediation, he said, so $9 million could help there as well.

Other projects include a fifth senior wellness center – the original MAPS 3 project list planned only four – at a cost of $9 million to $12 million, about $3.5 million in sidewalks throughout the city and a like amount for new trails. The Riversport Rapids facility on the shore of the Oklahoma River may need more funds also, Couch said.

Councilman Ed Shadid questioned the good sense of investing in another parking garage when it appears that autonomously driven vehicles will soon fill the streets. When Councilwoman Meg Salyer pointed out that they’ll still need to be kept somewhere, Shadid said the cars will be shared by several people, further reducing the need for more parking spaces.

The issue will likely be submitted at a regular council meeting for discussion and action, a process that takes several weeks and allows for public input.

Pete
12-14-2016, 10:34 AM
So, after cutting back on sidewalks, the whitewater facility and other projects, suddenly we have $39 million extra just as there is a request for a new convention center parking garage that was at first rejected by the committee.

TheTravellers
12-14-2016, 10:51 AM
So, after cutting back on sidewalks, the whitewater facility and other projects, suddenly we have $39 million extra just as there is a request for a new convention center parking garage that was at first rejected by the committee.

Disgusting. What was it about the good ol' boy system not being of much relevance here in OKC any longer? Yeah....

HangryHippo
12-14-2016, 10:53 AM
So, after cutting back on sidewalks, the whitewater facility and other projects, suddenly we have $39 million extra just as there is a request for a new convention center parking garage that was at first rejected by the committee.

Ain't that some sh*t...

Also, who handles projections and budgeting for OKC? It seems there's a glaring lack of competence and accountability by that office.

warreng88
12-14-2016, 11:11 AM
So, after cutting back on sidewalks, the whitewater facility and other projects, suddenly we have $39 million extra just as there is a request for a new convention center parking garage that was at first rejected by the committee.

I am not saying I agree with it, but the article says there could be more left over and used for other things you mentioned:

Additionally, the 77-acre central park also in the works under MAPS 3 is running into increased costs for land acquisition and remediation, he said, so $9 million could help there as well.

Other projects include a fifth senior wellness center – the original MAPS 3 project list planned only four – at a cost of $9 million to $12 million, about $3.5 million in sidewalks throughout the city and a like amount for new trails. The Riversport Rapids facility on the shore of the Oklahoma River may need more funds also, Couch said.

Now, I am not holding my breath on those, but it looks like it may be spread around.

kevinpate
12-14-2016, 12:30 PM
If they have nor or are not building what they originally pitched, i.e. the pitched mileage on trails for example, then let's be real, that ain't so much a surplus but money that didn't get used where it was supposed to and is now claimed as extra.

Some of that they have done is real nice, but some of what they have done, and are doing, does highlight the problems with hey, trust us with 3/4 billion, and we'll use it the way we say we will.

Pete
12-14-2016, 12:37 PM
It's very dangerous to project and spend a big expected overage when they still have not started on the streetcar and the convention center and most the park -- the biggest MAPS 3 projects -- have not even been put out to bid.

As a reminder, we've already cleared out a lot of the contingency fund to spend more on the convention center.

Rover
12-14-2016, 01:14 PM
If you all think that estimates and budgets done nearly 10 years early are ever going to be accurate, then this crowd is more naive than I thought. So, when things cost more and scopes are reduced, there is criticism. Now, income projections were also low and more money has been collected, so some scopes may be increased and THAT brings criticism.

As plans become more definite, as a higher % of the projects are actually bid and/or done, as we see more contemporary cost levels on items left to do, risk of the total budget overrun is reduced. That is what is happening. I am sure everyone feels more and more confident of costs as we continue. We may even get more cost breaks if interest rates now starts to rise and slowdowns occur on speculative construction, freeing up more competitive bidding among contractors and lower prices of building materials. Now if our Prez to be starts imposing 35% tarriffs on material from China et al, all bets are off.

ljbab728
12-14-2016, 10:40 PM
I agree, Rover. No excess funds are promised yet for additional projects. It is just common sense that you would have proposals ready if additional funds become available at a later date instead of just waiting until everything is done and say "hey, what do we do with the money now?". It certainly is possible that other projects that aren't really started may need additional funding and I see nothing saying that any additional funds might not be used for that. Too much hand ringing for something just being talked about.

Pete
12-15-2016, 09:39 AM
The issue is that they are seeking to spend $10MM on a parking garage that was never part of MAPS 3 and will likely look to do that before allocating anything back to the other projects.

Seems like that is completely backwards and once again shows how the convention center continues to get preferential treatment, primarily due to the people pushing for it. Many other examples of this as has been noted for years.

ljbab728
12-15-2016, 09:55 PM
The issue is that they are seeking to spend $10MM on a parking garage that was never part of MAPS 3 and will likely look to do that before allocating anything back to the other projects.

Why is that likely to happen? The article clearly says it's a suggestion and gives reasons why it would be a good suggestion. I still see nothing wrong with that at this point. Obviously we would want to follow this closely but it's too early to be sure that something like that will happen.

A suggestion does not mean a "fait accompli".

Pete
12-16-2016, 08:30 AM
Because they have already asked for the $10MM for the garage and no formal request has been made on behalf of the other projects.

And, the other projects weren't even mentioned until they first met opposition for the $10MM ask.

ljbab728
12-16-2016, 11:34 PM
Because they have already asked for the $10MM for the garage and no formal request has been made on behalf of the other projects.

And, the other projects weren't even mentioned until they first met opposition for the $10MM ask.

The article says it is a suggestion, not a request. Has there been a formal request?

Urban Pioneer
12-17-2016, 10:17 AM
There was a formal request. It was shot down at the MAPS 3 Oversight Board a few months ago. I was there and spoke against allocating the $10 million prematurely as well. At that time, we did not have our streetcar construction bids in. It was a really brash move by Cathy O'Connor and Jim Couch quite frankly. A shockingly brash move at that.

Now that the streetcar construction bid has come in under budget, short of us running into haunted indian burial grounds or dinosaur bones, I am more comfortable with it in the context of our project specifically.

There are potential "Park N' Ride" opportunities for the streetcar system should space allocations be made in the garage for such an endeavor and marketed by COTPA that way.The garage location is actually in a perfect strategic place for "Park N' Ride" applications. I would like to see the revenue from the garage go towards streetcar O&M, but the reality is that they are only asking for the bare minimum to make up for the financing gap. Revenues will go towards COTPA's bonding and the other half of the financing.

Urban Pioneer
12-17-2016, 10:20 AM
It would be politically wise to complete all of the sidewalks originally promised, build all of the river amenities, and cover any other shortfalls. That would enable future MAPS campaigners to be able to state that we built everything promised to the voters in MAPS 3. And the sidewalks are definitely needed.

Laramie
12-17-2016, 11:09 AM
It would be politically wise to complete all of the sidewalks originally promised, build all of the river amenities, and cover any other shortfalls. That would enable future MAPS campaigners to be able to state that we built everything promised to the voters in MAPS 3. And the sidewalks are definitely needed.

Agree,

We should definitely keep promises made to maintain the integrity of the MAPS brand.

A two-to-three year (shorter collection time span) MAPS for Neighborhoods could include additional funding for side walks and amenities within the neighborhoods themselves. Some of the newer neighborhoods have been neglected; we need more sidewalks along with sidewalks replaced or repaired in many of the older and more established districts like Heritage Hills, Gatewood, Kennedy & Capitol Hill.

Any updates on the convention center & conference hotel?

ljbab728
12-18-2016, 02:34 AM
There was a formal request. It was shot down at the MAPS 3 Oversight Board a few months ago. I was there and spoke against allocating the $10 million prematurely as well.
I'm glad to here that. In that case, Pete's assumption that it will likely happen before allocating excess money to other project is not necessarily true.

stile99
12-18-2016, 07:43 AM
I'm glad to here that. In that case, Pete's assumption that it will likely happen before allocating excess money to other project is not necessarily true.

Maybe I'm not following the train correctly, but Pete said they would 'likely look to do that' first, not definitely. You disputed that and said it was only a suggestion, and asked if there had been a formal request. Then Urban Pioneer said there was in fact a formal request.

Looks to me like Pete is right, the only 'untrue' part was he assumed it was to take place in the future, not something that had in fact already taken place.

Pete
12-18-2016, 08:52 AM
The article says it is a suggestion, not a request. Has there been a formal request?

What it says is that Jim Couch suggested ways the $39MM could be spent, as he is not a voting member of any of the MAPS committees.

And yes, there was a formal request made for the $10MM for the parking garage which that committee voted to table, mainly because it came completely out of left field without any prior discussion.

Now that the committee has balked, suddenly it's revealed we have this surplus and there is vague talk about some of it being spread to the other projects although there is no current plans or pending budget increases before any of those committees.

Spartan
12-18-2016, 01:54 PM
The issue is that because this is all decided behind closed doors so as to avoid public disputes - there is no public process besides these early rumors.

Laramie
12-20-2016, 06:20 PM
.

https://image.issuu.com/160302145539-d31e77f26bc34f4180be40c026bb67d5/jpg/page_1.jpg

Oklahoma City's bond rating by Moody's = Aaa


Aaa: This is pronounced “triple-A”. This is the highest rating Moody’s assigns issuers and individual bond issues. This is the strongest category of creditworthiness.

Aa: Pronounced “double-A”. This the next highest tier of Moody’s. It implies very strong creditworthiness.

A: Pronounced “single-A”. This is the third highest tier. It implies above average creditworthiness.

Baa: Pronounced “B double-A”. This is the fourth highest tier and the lowest tier of what is generally considered ‘investment grade’. This implies average creditworthiness.

Understanding bond ratings: http://www.municipalbonds.com/education/read/67/understanding-bond-ratings/

Our city has the highest bond rating assessed by Moody's.



https://s3-media2.fl.yelpcdn.com/bphoto/duW7M_2ueg7uH1UMV-RYlw/ls.jpg
We didn't plan for a $10 million parking garage for the convention center & hotel site. We have budgeted and planned for everything except the parking garage. Are there other means to finance the parking garage if we don't have enough money to do it with 'surplus MAPS money.'


In the run-up to the December 2009 MAPS 3 election, voters were promised "four to five state-of-the-art health and wellness aquatic centers ... to encourage healthy lifestyles and serve as a gathering place for active seniors."

Advisory group favors fifth MAPS 3 senior health and wellness center: http://newsok.com/advisory-group-favors-fifth-maps-3-senior-health-and-wellness-center/article/5530910

My first thought is to build the things we can build that may have been downsized or cut from MAPS 3's original plan which includes adding a fifth Senior Wellness Center.

Urban Pioneer
12-22-2016, 06:41 PM
From what I remember of this meeting, Chairman McDaniel said something like "We have a proposal brought before us today..." and then Cathy O'Connor gave a big pitch. Jim Couch walked in when people started balking but it still failed.

It was a really brash move and I am proud that the MAPS Oversight Board resisted their big push. I personally would have felt more respected if we had a subcommittee meeting in which we were asked what our additional priorities are in respect to our prospective projects with the potential for a surplus to fund them. At least before we start having large allocations taken out of the surplus.

warreng88
01-17-2017, 12:58 PM
OKC Council expected to approve land purchase for convention center

By: Brian Brus The Journal Record January 16, 2017

OKLAHOMA CITY – City Council members are expected Tuesday to approve the purchase of real estate along SW Fifth Street for the construction of the MAPS 3 convention center.

The $362,000 deal includes several lots between S. Shields Boulevard and Broadway Avenue now held by American Motel Investors Inc. of Tulsa. The purchase price was negotiated under the city’s Core to Shore urban renewal plan with oversight by the Urban Renewal Authority.

Two years ago, those parcels and several others adjacent to them were purchased by Anish Hotels Group LLC for $975,000 and immediately transferred to American Motel Investors. The two groups are largely made up of the same principals.

Anish Chief Executive Andy Patel said the city needed only some of the property. American Motel will continue to hold the rest.

Two days after the City Council considers the sale, American Motel is scheduled at the Downtown Design Review Committee with an application via Paul Shell and SQD Architects to construct a five-story hotel and parking lot about a block away on Fourth Street. The relocated S. Broadway Avenue will be the project’s western boundary.

Patel said he would not be building a hotel on the west side of downtown Oklahoma City if not for MAPS 3, a temporary sales tax projected to generate $777 million for several projects such as Oklahoma River renovations, 77-acre central park, senior wellness centers and the convention center.

In December, City Manager Jim Couch suggested to council members that some of the $39 million in MAPS 3 revenue that hasn’t been earmarked yet could go toward the construction of a parking garage near the new convention center. He said the garage would benefit the visitors of the park, an adjacent hotel and Chesapeake Arena as well.

Anish’s hotel plan already has parking included, according to Downtown Design Review Committee documents. He said that if city officials approve the plan, construction will begin this summer.

Anish’s latest developments include the Residence Inn by Marriott in downtown Tulsa, Home2 Suites by Hinton in the Tulsa Hills area and Hampton Inn & Suites in Stillwater. In late 2014, Patel purchased land in the Bricktown district in Oklahoma City to build a nine-story Canopy-branded boutique hotel. That project is now underway.

Spartan
01-17-2017, 06:52 PM
.

https://image.issuu.com/160302145539-d31e77f26bc34f4180be4b67d5/jpg/page_1.jpg

Oklahoma City's bond rating by Moody's = Aaa


Aaa: This is pronounced “triple-A”. This is the highest rating Moody’s assigns issuers and individual bond issues. This is the strongest category of creditworthiness.

Aa: Pronounced “double-A”. This the next highest tier of Moody’s. It implies very strong creditworthiness.

A: Pronounced “single-A”. This is the third highest tier. It implies above average creditworthiness.

Baa: Pronounced “B double-A”. This is the fourth highest tier and the lowest tier of what is generally considered ‘investment grade’. This implies average creditworthiness.

Understanding bond ratings: http://www.municipalbonds.com/education/read/67/understanding-bond-ratings/

Our city has the highest bond rating assessed by Moody's.



https://s3-media2.fl.yelpcdn.com/bphoto/duW7M_2ueg7uH1UMV-RYlw/ls.jpg
We didn't plan for a $10 million parking garage for the convention center & hotel site. We have budgeted and planned for everything except the parking garage. Are there other means to finance the parking garage if we don't have enough money to do it with 'surplus MAPS money.'



Advisory group favors fifth MAPS 3 senior health and wellness center: http://newsok.com/advisory-group-favors-fifth-maps-3-senior-health-and-wellness-center/article/5530910

My first thought is to build the things we can build that may have been downsized or cut from MAPS 3's original plan which includes adding a fifth Senior Wellness Center.

Yes we did, when we gave the CC a budget that is more than double that of any other project that the voters actually wanted. That's the equivalent of saying that a different project budget doesn't "expressly" include a line item for bathrooms, so it must not be included therefor give me more money thank you come again.

Laramie
01-17-2017, 08:59 PM
3 IF's...

IF OKC (41st largest MSA) builds a convention center lets not half step while many cities of our comparable size (Jacksonville, Louisville & Memphis) are doing the Texas two step .

http://journalrecord.com/files/2016/10/mf-convention-center-2-300x160.jpg http://mediad.publicbroadcasting.net/p/kgou/files/styles/medium/public/201609/Omni-Hotel.jpg
Oklahoma City Convention Center, 200,000 sq. ft., 19-floor 600 room Omni Hotel.

http://www.jacksonville.com/images/020705/59991_400.jpg
40th - Jacksonville Prime F. Osborn III Convention Center, 265,000 sq.,ft

http://www.downtownmemphiscommission.com/sites/526/uploaded/images/CookConvention-thumb600x600.JPG
42nd - Memphis Cook Convention Center upgrades, 125,000 square feet, 31 meeting rooms and a connected 600 room Sheraton Memphis Downtown Hotel.

http://farm7.static.flickr.com/6189/6138962867_2c6bdc085d.jpg
43rd - Louisville Kentucky International Convention Center, Renovated 2016–18, 300,000 sq., ft.

IF you've been to the Cox Convention Center of late; there's is no way our current venue will complete for reputable conventions, large gatherings & trade shows.

IF there's money left over from the MAPS III collections. Build any popular project(s) left off the MAPS III original proposals.

Spartan
01-22-2017, 03:53 AM
Wait what? Those aren't exactly sequential or even tangential "ifs."

Those also aren't even nice facilities. If that's what you think we need, build it at the fairgrounds. In fact I thought we already done just that. Also IF #2 nobody is saying to keep the Cox Center. Regarding IF #3, that's so fantastic and generous that we should get back to any other priorities once we build the convention center "IF" there is any money left over from MAPS III collections. That's exactly what we promised voters: "7 great projects, but only 1 that we really want, and we'll see about the rest of all of this once Larry Nichols gets what he wants."

_Kyle
02-07-2017, 04:59 PM
If they are building this one what are they gonna do with the cox convention center?Will we have two or will they tear it down?

shawnw
02-07-2017, 05:04 PM
tear down, build something new, it's prime real estate

_Kyle
02-07-2017, 05:12 PM
tear down, build something new, it's prime real estate

Hopefully a company comes in and builds something really nice.Maybe a high rise tower.

shawnw
02-07-2017, 05:18 PM
that would be great, but there are a limited number of existing entities that have the means and need to build a high rise tower, so I would manage your expectations.

_Kyle
02-07-2017, 07:10 PM
I just hope some company doesn't tear it down and say they are gonna build something then don't. (cough cough OG&E)

cinnamonjock
02-08-2017, 02:52 AM
When it does eventually get removed, will the city divide it into the four original blocks it used to be or will it continue to remain the obtrusive "superblock?"