View Full Version : Mystery Tower( speculation, news and ideas) post here!




hoya
10-29-2012, 01:39 PM
There are definitely going to be proposals submitted for residential atop the new downtown parking garage. Should be interesting to see what comes of that. I think residential will continue to be the trailing development, i.e. comes after other large development is announced or finished in a particular area.

Have no idea about the particulars with OG&E, just they are seriously looking for a site downtown to build.

If they're looking for a site to build, I'd assume they'll be leaving their old building behind. If they wanted to be separated out into multiple buildings I'm sure they could find space in Oklahoma Tower or somewhere else nearby.

This news is incredibly exciting. I think it's great that it doesn't even take into account MidFirst bank. And while the current rumors are that MidFirst has backed off the idea of moving, if Chesapeake gets sorted out and starts to expand again, MidFirst might start to look again. I don't think it will happen soon, but that's potentially another tower in 10 years or so.

Spartan
10-29-2012, 01:57 PM
Okay, I stated I'd called this out a while back and that it was purely speculation, I actually have a couple of former co-worker business analysts over there that told me a couple of years back that they were busting at the seams.

Like I said earlier, back in the 80's, they had proposed a 28 story tower.

Well I think we've both gone back-and-forth on this in this very thread before. I had a family friend who is fairly high in OG+E idly mention that they want a downtown skyscraper. It also makes a lot of sense, but as previously concluded, they are a very weird company.

Pete
10-29-2012, 02:15 PM
There seems to be a sense of a little urgency with some of these companies, in that they saw that Devon seized a fantastic opportunity and now has not only an amazing complex but was able to place it on what is a primo location.

The unique opportunity represented by the Stage Center site (and I do believe it is very unique and thus quite valuable) has flushed out several players, and maybe provided the motivation to move sooner rather than later.

With the CC seemingly set on the south side of Myriad Gardens, the better spots downtown are starting to get snatched up. This realization may have motivated SandRidge to pull the trigger at 4th & EKG without any specific plans... Just knowing that things are heating up and they didn't want to miss this window of opportunity.

We still have plenty of vacant and under-developed parcels all around but considering the compact nature of our CBD, I don't think anyone wants to be blazing completely new frontiers for a large corporate HQ... At least without being able to link it pretty directly to existing infrastructure.

It seems the CBD is going to continue to grow concentrically, rather than a big new development being separated from the CBD by an "emerging" area. And with that assumption, Continental, OG&E and others might not want to stay on the sidelines watching a few great opportunities taken by others.

G.Walker
10-29-2012, 02:17 PM
A trend that I noticed with companies wanting to build new headquarters downtown bring an influx of employees downtown before they do so. So let's put this in perspective, Devon had employees downtown before they considered building a new tower, and now they have more coming. Continental has brought employees downtown and will now probably build. OG&E brought 400 Enogex workers downtown, and now they are going to build a new tower also. I would suspect OG&E and Enogex to occupy new headquarters. So a good thing would be to follow companies that currently or recently moved to downtown.

Teo9969
10-29-2012, 02:31 PM
If both OGE and Continental build downtown, then that leaves a lot of space open to be grabbed up by other companies. I think there is only so much support for local companies to build towers before it becomes more cost effective to lease/buy existing structures.

G.Walker
10-29-2012, 02:40 PM
Okay more information today and this is a bit more exciting.


OG&E is in the process of looking for a downtown site for a new HQ. Don't know the building size or height but this is an active process where they have retained a national real estate firm to aid them in site selection. It seems that this is almost certainly going to happen, it's just a matter of where, when and how tall.

Something is going to happen on the Stage Center site and it may very well be a new HQ for Continental. I hear they are definitely one of the companies making a bid on the site. They are already out of space at the building they bought from Devon and as well all know, continuing to out-pace their very aggressive growth plans. OG&E may make a bid as well.

The Conoco / Phillips rumors are still out there. They were definitely interested at one time and from what I'm hearing, this may still be a possibility.

There has been info. flying around about Bank of Oklahoma for a while and they may be the "non-local" company looking to set up shop downtown. More than likely, if they do something it may be for one of their affiliates / subsidiaries / business partners.




So, let's recap and do some educated speculation:

1. SandRidge is going to build a new tower just east of their existing 29-story HQ. From all indications, it will be 15-20 floors. I'm quite certain they don't want it to overwhelm their existing tower, as they have a large conference center on the 28th floor and the execs are on the 29th. They have this setup to be the centerpiece of their holdings and I don't think they will do anything to change that. The property they just acquired at 4th & EK Gaylord may not be for SandRidge's use but will be developed by SD or it's principals.

2. OG&E is almost certainly going to build downtown. They are probably one of the companies counted among those interested in Stage Center but that may go to Continental and they have certainly scouted other sites. No idea of the size/height but they are serious and I would expect it would be at least 20 floors.

3. Continental is actively looking to build a new tower and will make a strong run at Stage Center. If they get that property, they may develop that whole block as their HQ and we know they will need more than the 19 floors they presently own. If they don't get Stage Center, I have every reason to believe they will select another downtown site and go from there.

4. I'm completely convinced that Devon is behind Nick Preftakes and all the properties he controls directly west of their HQ. They are holding onto several floors in Corporate Tower, which shows that even in the short term they believe they will need it in addition to the massive complex they just built. Hard to tell how far along they are in their planning but I do know this project is being talked about pretty openly within the organization. I would expect a new tower around Main & Hudson tied into their existing complex, and possibly a medical clinic as a part of that or as a separate structure. When the new tower is announced, I would also expect to see at least preliminary plans for the rest of that block (working in concert with the City who owns a large building there).

5. We know there will be a large convention hotel built adjacent to the new CC. Still very early in terms of the City attracting and negotiating with a hotel operator, but this is another project that is almost certain to happen and be at least 20 floors.

6. A company somehow related to Bank of Oklahoma has been showing interest in a downtown HQ. Conoco / Philips as well. Hard to tell which if either of these are real and/or still on-going but the City and people that know downtown real estate seem pretty certain a non-local company is going to build downtown and that an announcement could be coming in the next six months or so.

7. Residential is going to come, but it will probably be as a second wave in relation to projects 1-6. Not hearing anything about active development of mid- or high-rise residential, other than Rick Dowell's long-term plans.

8. Almost certainly more hotels are coming but again, there does not seem to be any active projects other than the CC hotel and the ones already announced.

Wow Pete, you and OKCTALK have provided us with more information in the last two days, than others have provided in the last year. OKCTALK is better than The Journal Record, Newsok.com, and OKC.biz combined! Keep it up!

hoya
10-29-2012, 02:52 PM
If both OGE and Continental build downtown, then that leaves a lot of space open to be grabbed up by other companies. I think there is only so much support for local companies to build towers before it becomes more cost effective to lease/buy existing structures.

That's true, but I think we're still talking about 5 or more years even if they announced today. That's a lot of time for smaller companies to grow, and Devon by all accounts has really been pushing for more companies to move here. I have a feeling that office space will be filled.

Pete
10-29-2012, 02:56 PM
AND as more and more large companies come downtown and expand, they tend to attract affiliates and related businesses who want to be in close proximity.

As long as the existing buildings are willing to up their game and renovate, they should have plenty of interest from tenants.

Just the facts
10-29-2012, 03:01 PM
We still have plenty of vacant and under-developed parcels all around but considering the compact nature of our CBD, I don't think anyone wants to be blazing completely new frontiers for a large corporate HQ... At least without being able to link it pretty directly to existing infrastructure.

I wish this would translate into the absence of radiant towers (office tower in a park); more City Place/FNC and less Sandridge Forest/Devon Green.

huskysooner
10-29-2012, 09:35 PM
This is a strange coincidence, but my brother in law, who does not live in OKC nor follow real estate happenings here outside of what is in the Oklahoman, mentioned the OG&E downtown tower plans this weekend. He has two relatives that work for Enogex in Eastern OK and they told him that everyone at their company is "excited about the new downtown HQ." This totally caught me by surprise as I know he doesn't keep up with this stuff. He said they talked about it as if was openly discussed at Enogex. Take it for what it's worth.

Bellaboo
10-29-2012, 09:45 PM
This is a strange coincidence, but my brother in law, who does not live in OKC nor follow real estate happenings here outside of what is in the Oklahoman, mentioned the OG&E downtown tower plans this weekend. He has two relatives that work for Enogex in Eastern OK and they told him that everyone at their company is "excited about the new downtown HQ." This totally caught me by surprise as I know he doesn't keep up with this stuff. He said they talked about it as if was openly discussed at Enogex. Take it for what it's worth.

Enogex moved their HQ to Leadership Square in downtown this past year. Are you sure they are not talking about the new LS headquarters ?

Steve
10-29-2012, 09:49 PM
Wow Pete, you and OKCTALK have provided us with more information in the last two days, than others have provided in the last year. OKCTALK is better than The Journal Record, Newsok.com, and OKC.biz combined! Keep it up!

I think Pete will make it clear that he isn't bound by the same rules I am ... I'll just leave it at that.

gsan
10-29-2012, 09:53 PM
I love this thread and love to hear all the new speculation. I did want to add a little. I have a friend that works at OG and E and has mentioned them possibly building a new head quarters downtown. I also have a friend that works at Devon and she had mentioned that they will be building an additional building and she believes it will be 30 stories. They have already bought the land under another name.
Take this all as a grain of salt, but the more I here the more I believe that there is truth in what my friends have told me.
This is all very exciting!

hoya
10-29-2012, 10:06 PM
Well I feel left out. But... I have a friend who works at 7/11 and apparently they're building a new one in Del City. So there.

dankrutka
10-29-2012, 10:08 PM
I think Pete will make it clear that he isn't bound by the same rules I am ... I'll just leave it at that.

I don't think anyone could discount your contributions, Steve. And we understand the difference between this board and your job. We can post information based on speculation, but you have to maintain credibility with final, reliable information. We appreciate it.

Thundercitizen
10-29-2012, 10:15 PM
I don't think anyone could discount your contributions, Steve. And we understand the difference between this board and your job. We can post information based on speculation, but you have to maintain credibility with final, reliable information. We appreciate it.What he said.

Actually better if I'd just "Liked" KT's post, I suppose.

ljbab728
10-29-2012, 11:16 PM
About the OG&E expansion, do we know whether this is an addition, i.e. reside in both buildings, or is this intended to be a complete move with all workers/facilities in the new building and the old one abandoned? The latter possibility makes one wonder what would become of that old building.

I think the current OG&E building would be an excellent candidate for conversion to residential at some point.

Teo9969
10-29-2012, 11:20 PM
I think Pete will make it clear that he isn't bound by the same rules I am ... I'll just leave it at that.

To be sure, I don't think he was implying that Pete is somehow more informed than you, Steve. More the medium in which you operate is lesser than OKC Talk, which I would have to agree with him.

Considering that you throw your hat into many of the discussions that don't come up in the D.O. I think it's fair to say you're part of what makes OKC Talk the best source for news regarding major OKC development ;).

soonerguru
10-29-2012, 11:35 PM
I'm trying to imagine downtown after the new hotel and apartment projects in Bricktown are done; after the new apartment project in Deep Deuce is done with the Aloft Hotel done; with two or three more significant highrise corporate towers; with The Edge project being finalized and Midtown exploding; with a functioning streetcar system; with a world-class Central Park. This is a stunning vision of the near future of our city. We are building a world-class downtown and it's very exciting.

dankrutka
10-30-2012, 03:59 AM
To be sure, I don't think he was implying that Pete is somehow more informed than you, Steve. More the medium in which you operate is lesser than OKC Talk, which I would have to agree with him.

Considering that you throw your hat into many of the discussions that don't come up in the D.O. I think it's fair to say you're part of what makes OKC Talk the best source for news regarding major OKC development ;).

I'm not sure this is fair (maybe you were kidding?). Both OKCTalk and the Oklahoman have their roles. I'm not sure one is better than the other. They serve different functions. A lot of this new info was still gleaned from Steve's recent article...

huskysooner
10-30-2012, 08:24 AM
Enogex moved their HQ to Leadership Square in downtown this past year. Are you sure they are not talking about the new LS headquarters ?

I'm sure. I asked him about this specifically after letting him know that Enogex moved several hundred employees downtown last year. He specifically mentioned a NEW headquarters building.

Bellaboo
10-30-2012, 09:26 AM
I'm sure. I asked him about this specifically after letting him know that Enogex moved several hundred employees downtown last year. He specifically mentioned a NEW headquarters building.

Thanks, I'm surprised a rendering or more specifics aren't out there yet.

hoya
10-30-2012, 09:37 AM
I'm trying to imagine downtown after the new hotel and apartment projects in Bricktown are done; after the new apartment project in Deep Deuce is done with the Aloft Hotel done; with two or three more significant highrise corporate towers; with The Edge project being finalized and Midtown exploding; with a functioning streetcar system; with a world-class Central Park. This is a stunning vision of the near future of our city. We are building a world-class downtown and it's very exciting.

The most exciting thing is that our downtown was so stagnant for so long. Seeing this kind of growth is amazing.

Deep Deuce is really our first urban neighborhood. As these apartments start filling up, we'll basically be going from a downtown population of zero to one of several thousand. All the things we have wanted downtown, like grocery stores, retail, etc, will follow because we'll have a local population that can support them. The increased density will lead to higher quality projects. We won't have any more Legacy Apartments. My kids (which I don't have yet) will grow up in a much different Oklahoma City than I grew up in.

Pete
10-30-2012, 09:38 AM
I'm trying to imagine downtown after the new hotel and apartment projects in Bricktown are done; after the new apartment project in Deep Deuce is done with the Aloft Hotel done; with two or three more significant highrise corporate towers; with The Edge project being finalized and Midtown exploding; with a functioning streetcar system; with a world-class Central Park. This is a stunning vision of the near future of our city. We are building a world-class downtown and it's very exciting.

The cool thing all this is very real, not just some pie-in-the-sky hope.

As the gaps are filled in and inbetween our various central city districts, we will see the urban fabric starting to be knit together and that's when the city will be truly transformed and be a continual catalyst for even bigger and better things.

Very, very exciting to think about and the toughest part is just being patient because we all want everything NOW. :)

catch22
10-30-2012, 09:47 AM
The cool thing all this is very real, not just some pie-in-the-sky hope.

As the gaps are filled in and inbetween our various central city districts, we will see the urban fabric starting to be knit together and that's when the city will be truly transformed and be a continual catalyst for even bigger and better things.

Very, very exciting to think about and the toughest part is just being patient because we all want everything NOW. :)

Very exciting times indeed. In my opinion, the ball is just now starting to roll.

Just the facts
10-30-2012, 09:47 AM
I'm trying to remember, what is the problem with Legacy Apartments? I know they weren't built as proposed and some people don't like the building material, but other than that what is wrong with them?

Pete
10-30-2012, 09:50 AM
I'm trying to remember, what is problem with Legacy Apartments? I know they weren't built as proposed and some people don't like the building material, but other than that what is wrong with them?

Huge gap between what was promised and what was actually built. Also, the developer (Mike Henderson) missed many deadlines and was still allowed to control and develop the property, then promptly sold it for a big profit.

The final product is about 90% EIFS and the retail on the ground floor has the ugliest green awnings with HUGE lettering. The net impression is not good at all, which is scary considering this is a new development.

Still, they seem to stay leased.

Just the facts
10-30-2012, 09:58 AM
If any downtown complex is an urban disaster it is Sycamore Square. But they stay full as well.

HangryHippo
10-30-2012, 09:59 AM
Huge gap between what was promised and what was actually built. Also, the developer (Mike Henderson) missed many deadlines and was still allowed to control and develop the property, then promptly sold it for a big profit.

The final product is about 90% EIFS and the retail on the ground floor has the ugliest green awnings with HUGE lettering. The net impression is not good at all, which is scary considering this is a new development.

Still, they seem to stay leased.

Is there any way for the exterior to be redone? The awnings could easily be replaced, but what can be done about that hideous exterior?

catch22
10-30-2012, 10:04 AM
From a pure urban formstandpoint, Legacy is OK.

Sustainability and aesthetics.......

soonerguru
10-30-2012, 10:07 AM
I'm trying to remember, what is the problem with Legacy Apartments? I know they weren't built as proposed and some people don't like the building material, but other than that what is wrong with them?

They look like they belong at 122nd and Penn. FUGLY.

Pete
10-30-2012, 10:11 AM
Doing something with the awnings would be a good start.

The EIFS could be painted to breakup the monolithic mass of beige cheapness. And of course, another exterior finish could be applied, but that's certainly not going to happen any time soon.

They also used high-pitched gables for the roof all the way around and that always conveys a distinctly suburban feel, and I'm afraid we're stuck with that forever.

http://www.downtownokc.com/LocationImage.aspx?LocationID=660

okcpulse
10-30-2012, 10:18 AM
Doing something with the awnings would be a good start.

The EIFS could be painted to breakup the monolithic mass of beige cheapness. And of course, another exterior finish could be applied, but that's certainly not going to happen any time soon.

They also used high-pitched gables for the roof all the way around and that always conveys a distinctly suburban feel, and I'm afraid we're stuck with that forever.

http://www.downtownokc.com/LocationImage.aspx?LocationID=660

If I wasn't well-versed in Oklahoma City I would confuse that street for May Avenue in the Quail Springs area. :)

Just the facts
10-30-2012, 10:54 AM
I was wondering if someone was going to mention the roof line. At first I thought urban roof needed to be flat but after reading The Geography of Nowhere and thinking about it more, I realized that pitched roofs on residential is more common and historically significant than I thought.

I think the problem isn't the roof line, it is the monolithic exterior (as was also pointed out). We need more variation in the building material and more finishing detail.

Amsterdam
http://www.incontrole.com/IncImagesDMCAmsterdam/Amsterdam4.jpg

Brussels
http://www.world-nomad.com/wn-uploads/beautiful_houses_brussels1-420x338.jpg

London
http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2009/10/16/1255708685141/Empty-property-in-Mayfair-001.jpg

Paris
http://image.shutterstock.com/display_pic_with_logo/64883/64883,1291110245,1/stock-photo-roofs-in-residential-quarter-of-montmartre-in-paris-66228394.jpg

Given the blank slate Legacy is now it could easily become one the most decorative buildings in OKC. Maybe when they have to compete for tenants they will step it up.

Just the facts
10-30-2012, 12:04 PM
One of the big problems is size. Legacy was all built by one entity, but that same street frontage 100 years of ago would have had 10 different structures built by 10 different people. Look at the Preftakes block and the Devon block. Devon takes up the entire super block and is all exactly the same and how many different buildings are on the Preftakes block – 15? Is building on a smaller scale just not economically feasible now? If not, why not?

Teo9969
10-30-2012, 12:29 PM
If I wasn't well-versed in Oklahoma City I would confuse that street for May Avenue in the Quail Springs area. :)

I'd agree with you, except ever since really following this site, I've realized how suburban those areas are.

It's going to take 50 years or more, but it would be incredible if some day everything on May Avenue were pushed reasonably close to the street. It's possibly the most business dense street in all of OKC (particularly the 5 miles between 23rd and Wilshire).

CaptDave
10-30-2012, 01:10 PM
Is building on a smaller scale just not economically feasible now? If not, why not?

This is what I want to explore. Even for someone simply wanting to build a small bungalow/cottage downtown, is the ground prohibitively expensive? When compared to greenfield developments, the city basically giving away infrastructure has made it significantly more cost effective for developers and individuals alike to build outside the city core. Since the sewer, water, etc is already in place downtown, why does it seem lots cost so much more? Simple demand?

Is this why suburban office parks will continue to be built? Is this the main impediment to affordable downtown residential? Where does one "break even" on the land cost when building vertical? I really need to spend some time working with an experienced developer to learn some of this stuff.

tucy
10-30-2012, 01:11 PM
Can you put any more meat on the bones of the ConocoPhillips rumors? With respect, we all know the rumors are still out there (and being spread here), but there are rumors worth paying attention to and there are rumors that are pretty easily dismissed upon examination.

I noted that you did not specify headquarters. Are the rumors specifically with reference to a headquarters relocation (which is NOT happening), or are they possibly with reference to an expansion and relocation of the existing OKC regional office (which seems well within the realm of possibility)?

(As an aside, if a headquarters relocation were ever going to have happened it probably needed to have happened at the time of or before the split, while James Mulva (former Phillips chairman) was still chairman. Now ConocoPhillips has nobody on their board or senior executive ranks with any Oklahoma connections.)

Jesseda
10-30-2012, 01:14 PM
Okay I was at my churchs harvest festival this past weekend and I asked one of the church member who worked on the devon tower. I asked him if there was anymore talk about some new tall buildings in downtown and he responded " funny you should ask because my boss told me just last week to get ready to be busy for the next few years downtown he said that they will be working on the new Continental HQ downtown and possibly another large project after that". Now I trust this man, and there would be no reason to lie to me about something like this.

G.Walker
10-30-2012, 01:31 PM
A couple years ago I mentioned on here Continental would probably be next to build new tower downtown, and most people thought I was crazy...

hoya
10-30-2012, 01:34 PM
If Continental is growing as quickly as people say, and they've already filled 19 floors and need more room, then if they're going to build they probably build for the future and go bigger than they currently need. I don't think it's unreasonable to think we might get a 30-40 story building out of this. Perhaps I'm letting my excitement get the better of me, but if they're going to spend the money to build, why not?

G.Walker
10-30-2012, 01:37 PM
I can see Continental Resources building new tower on Stage Center site. They have a very good relationship with Devon, and it makes sense for them to be right next to them. I wonder if they would use the same architect as Devon to design new tower? I would suspect they would announce something in early 2013, and start construction in early 2014. Then we are looking at 3 years for construction and move in, so that puts them to 2017, 5 years from now, which would be on target with their expected growth.

Just the facts
10-30-2012, 01:42 PM
This is what I want to explore. Even for someone simply wanting to build a small bungalow/cottage downtown, is the ground prohibitively expensive? When compared to greenfield developments, the city basically giving away infrastructure has made it significantly more cost effective for developers and individuals alike to build outside the city core. Since the sewer, water, etc is already in place downtown, why does it seem lots cost so much more? Simple demand?

Is this why suburban office parks will continue to be built? Is this the main impediment to affordable downtown residential? Where does one "break even" on the land cost when building vertical? I really need to spend some time working with an experienced developer to learn some of this stuff.

Let me know what you come up with. If I had 100K to start with could I not build a 5 to 8 story small footprint building with ground floor retail, second floor office, and 3 to 6 levels of residential (12 to 24 units)? I wouldn't have any interest in providing parking.

Bellaboo
10-30-2012, 01:48 PM
If Continental is growing as quickly as people say, and they've already filled 19 floors and need more room, then if they're going to build they probably build for the future and go bigger than they currently need. I don't think it's unreasonable to think we might get a 30-40 story building out of this. Perhaps I'm letting my excitement get the better of me, but if they're going to spend the money to build, why not?

I'd go out on a limb with a 40 - 48 story prediction, knowing that their growth has accelerated, and here we go again, there could be some political clout going on with Harold Hamm.

Harold Hamm was at Devon's grand opening with the rest of the big oilies.......His ego is probably up there with the rest of them and might just be a Jones factor getting ready to happen.

hoya
10-30-2012, 02:09 PM
Let me know what you come up with. If I had 100K to start with could I not build a 5 to 8 story small footprint building with ground floor retail, second floor office, and 3 to 6 levels of residential (12 to 24 units)? I wouldn't have any interest in providing parking.

I'd love it if we could get a cost estimate on how much it would cost to build something just like that. How much to build a new brick building, 5-8 stories tall, with a footprint of maybe Carpenter Square? That might even be a bit bigger than you're talking about, but I think it would be quite feasible for most developers.

CaptDave
10-30-2012, 02:19 PM
I am going to try to learn more about this stuff in the coming months. I will share whatever I can learn. If I had unlimited funds, I would spend a lot of time refurbishing small to medium sized buildings downtown and developing new construction sites. I can learn anything a developer is willing to teach/share, but alas, I still lack the unlimited funds.

Teo9969
10-30-2012, 02:20 PM
The only thing that makes me wary of an announcement coming soon is that by many accounts, we're looking at another recession in 2013. It would be nice to have an idea of the magnitude of that recession before plans are announced. I would hate to see Continental announce a 45 story tower, get our hopes and, and end up with a 30 story tower.

Bellaboo
10-30-2012, 02:32 PM
The only thing that makes me wary of an announcement coming soon is that by many accounts, we're looking at another recession in 2013. It would be nice to have an idea of the magnitude of that recession before plans are announced. I would hate to see Continental announce a 45 story tower, get our hopes and, and end up with a 30 story tower.

I have close immediate family who own 2 small oil companies. They told me the other day that oil would never go below $70 in their opinion and that NG is only going to go up from this point on. Let's hope for our local economy's sake that this holds true.

BDP
10-30-2012, 02:44 PM
The only thing that makes me wary of an announcement coming soon is that by many accounts, we're looking at another recession in 2013. It would be nice to have an idea of the magnitude of that recession before plans are announced. I would hate to see Continental announce a 45 story tower, get our hopes and, and end up with a 30 story tower.

Well, even at 30 stories, that's around the height of the Chase building by today's standards. Still a decent sized project that would add to the skyline.

OKCisOK4me
10-30-2012, 04:02 PM
The only thing that makes me wary of an announcement coming soon is that by many accounts, we're looking at another recession in 2013. It would be nice to have an idea of the magnitude of that recession before plans are announced. I would hate to see Continental announce a 45 story tower, get our hopes and, and end up with a 30 story tower.

If said companies have plenty of extra cash to build and still grow, even during a recession, like Devon, then they're going to weather the storm and Oklahoma City will continue to do so as well.

Thundercitizen
10-30-2012, 05:34 PM
Construction labor is cheap during a recession, or before, if corporations really see one coming. All in the timing.

Rover
10-30-2012, 07:42 PM
Let me know what you come up with. If I had 100K to start with could I not build a 5 to 8 story small footprint building with ground floor retail, second floor office, and 3 to 6 levels of residential (12 to 24 units)? I wouldn't have any interest in providing parking.

$100 k total? At 8 floors your footprint would be about 12 x 12. Then take out floors space for elevators, fire escape stairs, hvac ducting, mechanical rooms, etc and you might have room to turn around on each floor.

Just the facts
10-30-2012, 09:00 PM
Well, I assume 100K in cash would translate into a $500,000 construction loan at 80/20.

I am thinking of something 1606 Walnut St in Philadelphia. 24 feet wide and 6 stories tall.

tucy
10-30-2012, 09:14 PM
If Continental is growing as quickly as people say, and they've already filled 19 floors and need more room, then if they're going to build they probably build for the future and go bigger than they currently need. I don't think it's unreasonable to think we might get a 30-40 story building out of this. Perhaps I'm letting my excitement get the better of me, but if they're going to spend the money to build, why not?

Keep in mind that Continental has NOT filled 19 floors. The law firm still occupies the top 4 floors of the building. So IF Continental has in fact filled all their space, it is just a little more than 14 floors of space they have filled (and it's also a building with a relatively small footprint).

Pete
10-31-2012, 12:14 AM
Continental leases space in Chase Tower as well.

soonerguru
10-31-2012, 01:49 AM
The only thing that makes me wary of an announcement coming soon is that by many accounts, we're looking at another recession in 2013. It would be nice to have an idea of the magnitude of that recession before plans are announced. I would hate to see Continental announce a 45 story tower, get our hopes and, and end up with a 30 story tower.

So? That is not going to hurt oil and gas companies. Also, if there is a recession, which is unlikely next year, it would only make construction materials cheaper.

1972ford
10-31-2012, 03:28 AM
I wonder if our low unemployment rate is holding off companies from wanting to relocate here or affecting decisions otherwise

Just the facts
10-31-2012, 07:06 AM
I wonder if our low unemployment rate is holding off companies from wanting to relocate here or affecting decisions otherwise

I guess that would depend on if a company needs a steady supply of the unemployed. If the unemployment rate was higher we would have a better chance and landing the first soylent green factory.

Pete
10-31-2012, 10:00 AM
Keep in mind that Continental has NOT filled 19 floors. The law firm still occupies the top 4 floors of the building. So IF Continental has in fact filled all their space, it is just a little more than 14 floors of space they have filled (and it's also a building with a relatively small footprint).

The current Continental building has 17,200 square feet per floor.

By way of comparison, Chase Tower has 15,500 and Oklahoma Tower 19,790.

Bellaboo
10-31-2012, 10:11 AM
Here's a thought, good or bad.

OG&E can look no further for a site for their new HQ. They already own one, all they need to do is move the existing substation south of the arena and the land is ready, it's in their name. lol