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Shake Shack is expanding so I'm sure there will be one or somewhere else in OKC soon.

Shake Shack is expanding so I'm sure there will be one or somewhere else in OKC soon.

Been to one in Boston several times and...meh, they're really not that great. We have local places that dish up much better burgers and fries. It's a good national brand to get though, so for that I like the idea of them having a presence here.

This doesn’t seem like the kind of development to focus on getting a Shake Shack. It appears to be more upscale than that. Shake Shack is better than average but not a prestigious brand.

This doesn’t seem like the kind of development to focus on getting a Shake Shack. It appears to be more upscale than that. Shake Shack is better than average but not a prestigious brand.

look at shops at Legacy .... pretty up scale and has a Shake Shack

look at shops at Legacy .... pretty up scale and has a Shake Shack
I don’t see SS on their directory, but do find 39 other eating and drinking establishments. I don’t think Oak will have anywhere near that amount.

Maybe SS would fit on the corner where RedCarpet is.

I don’t see SS on their directory, but do find 39 other eating and drinking establishments.

Maybe SS would fit on the corner where RedCarpet is.

Legacy West. He was half-right. Look at Legacy West. They have a Gucci, Louis Vuitton, and a Shake Shack is there, as well.

Legacy West. He was half-right. Look at Legacy West. They have a Gucci, Louis Vuitton, and a Shake Shack is there, as well.

Got it. I just went to the shops at site. It is among the 24 food places at West and the least upscale of them all. SS is a convenience and not a brand builder, or even equivalent to the mall.

Got it. I just went to the shops at site. It is among the Most 24 food places at West and the least upscale of them all.
They have a Shake Shack at Westfield Century City too. SS is a nice option to have but I get tired of them very quickly if I eat there too often. They’re a once a month thing at most for me.

I can almost guarantee you they are actively recruiting Shake Shack.

It's exactly the type of high-profile and new-to-market place that would drive even more traffic.

I can almost guarantee you they are actively recruiting Shake Shack.

It's exactly the type of high-profile and new-to-market place that would drive even more traffic.

Pete, you must be psyched about this being within walking distance from you! Seriously.

Pete, you must be psyched about this being within walking distance from you! Seriously.

Very!

And the project is really driving up home prices in my neighborhood.

Very!

And the project is really driving up home prices in my neighborhood.

Which is funny because Im sure there were plenty of NIMBYs who didnt like this project because of it supposedly harming property values. Ownership has obviously done a good job at mitigating any NIMBY fears though.

Which is funny because Im sure there were plenty of NIMBYs who didnt like this project because of it supposedly harming property values. Ownership has obviously done a good job at mitigating any NIMBY fears though.

The developer did a great job of reaching out to neighbors, hosting several meetings and making some adjustments.

This is arguably one of the most complex projects ever in OKC and these guys have worked their tails off and been incredibly patient.

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Pete, I can't tell from the drone shots, but are they installing a deacceleration right turn only lane by the access off EB Northwest Expressway? If it is not there or is too short, that will cause a MASSIVE backup.

Pete, I can't tell from the drone shots, but are they installing a deacceleration right turn only lane by the access off EB Northwest Expressway? If it is not there or is too short, that will cause a MASSIVE backup.

There is one, but it is relatively short. Should be okay considering how many lanes are available on NWE.

Pete, I can't tell from the drone shots, but are they installing a deacceleration right turn only lane by the access off EB Northwest Expressway? If it is not there or is too short, that will cause a MASSIVE backup.

It is a BRT stop.

In the 2nd photo you can see the BRT stop under construction along NW Expressway:

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Dang, they aren't playing around. Great image of the scope of this project!

They are planning a large electronic display for the north side of the hotel, facing NW Expressway and visible to people coming and going at Penn Square.

The hotel name looks like it will be 'Lively' and I believe it will be part of the Tapestry Collection by Hilton.


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WOW! That is very cool!

In the last photo, there’s a building to the west of the apartments. Is that new? I don’t recall seeing that in other Oak photos.

In the last photo, there’s a building to the west of the apartments. Is that new? I don’t recall seeing that in other Oak photos.

Yeah, that's a new one! I went back and it wasn't on the other renderings. I like it! Hopefully something new they got planned.

In the last photo, there’s a building to the west of the apartments. Is that new? I don’t recall seeing that in other Oak photos.

It's not definite -- just conceptual.

They have two other big phases after the current one; unless they have big demand for office space, I don't see it happening anytime soon.

I'm so excited to see this go vertical. The area is going to feel a lot less suburban in a year or two.

I'm so excited to see this go vertical. The area is going to feel a lot less suburban in a year or two.
Me too. And if something ends up happening to bring more life to 50 Penn Place, it’ll really feel different.

Me too. And if something ends up happening to bring more life to 50 Penn Place, it’ll really feel different.

Yeah man, I totally agree. With the sale of that car wash on the corner there really is potential to liven that intersection up even more. Plenty of room in there to collaborate with 50-Penn to maybe put another restaurant in there and share that parking out there. IDK, just something that'll be very pleasing to the eyes.

That additional building in the latest rendering is an absolutely gorgeous building though and masses the corner to absolute perfection. I hope they build it somewhere in the OKC Core if they can't find a way to make it work here.

Honestly, though, I think demand for office space might really start to take off in this area. If I'm going to pay for office space in 2022 and hope to actually get workers to come, I'm going to find a place that's in a more centrally located spot and that has immediate access to amenities such as this spot.

Also, with WFH really not going to be as full-time going forward as people thought, this is a perfect location for companies to locate in OKC. Just an absolutely awesome project!

I believe the office space at 50 Penn stays very full.

This area is just a great location for just about everything (hotel, retail, restaurants, theater, apartments, office).

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Very exciting. This could very quickly become the anchor to a small urban pocket in the city outside of downtown.

[QUOTE=Pete;1221700]I believe the office space at 50 Penn stays very full.

Looks like 50 Penn Place reports over 90% occupancy. What I wonder is: how much space will be downsized upon renewal? I see that anecdotally, but haven't seen a dramatic increase in office vacancy...yet.

Who is building the multifamily portion already under construction?

Who is building the multifamily portion already under construction?

This is the developer:

https://mintwoodre.com/

This is the developer:

https://mintwoodre.com/

Based on the signage around the OAK it looks like CMSWillowbrook is the construction company.

This is the developer:

https://mintwoodre.com/

Their residential buildings look so much nicer than the standard we are seeing in OKC right now.

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They aren't f-ing around here. Good to see!

Their residential buildings look so much nicer than the standard we are seeing in OKC right now.

The examples on their website are certainly nice looking. Hopefully this won't be their last development in OKC.

Note the packed parking lots at Penn Square and Belle isle Station -- pretty strong for late January.

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developer lied to me, on 52nd they said they were going to put in a cul de sac by law a firetruck has to turn around, what they added is an easement turnaround, and I noticed one house has no driveway cause of the street drains

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developer lied to me, on 52nd they said they were going to put in a cul de sac by law a firetruck has to turn around, what they added is an easement turnaround, and I noticed one house has no driveway cause of the street drains

developer lied to me, on 52nd they said they were going to put in a cul de sac by law a firetruck has to turn around, what they added is an easement turnaround, and I noticed one house has no driveway cause of the street drains

The developers own that house with the blocked driveway. Doesn't appear that anyone is living there, just an old truck in the drive.

I suspect it will be demolished to provide the turnaround.

Its crazy how the dimensions of fire trucks has literally altered our cities. We have all these road width and turning radii requirements in case a fire truck has to fit in an emergency. Majority of the calls fire trucks respond to are assistance calls and car wrecks not actual fires.

Its crazy how the dimensions of fire trucks has literally altered our cities. We have all these road width and turning radii requirements in case a fire truck has to fit in an emergency. Majority of the calls fire trucks respond to are assistance calls and car wrecks not actual fires.

I think when they invest multi-millions dollars they want to make sure a fire truck can quickly access the property.

Unless you developing Gaillardia :-)

The developers own that house with the blocked driveway. Doesn't appear that anyone is living there, just an old truck in the drive.

I suspect it will be demolished to provide the turnaround.

Pete, Oak Land and Development own a lot of houses on 50th, 2 on Youngs, and a lot on 52nd, I would say they are going all the way to Youngs, you can see it all at Oklahoma County Assessor do a map search, but that turnaround is in place, I wrote to them never got a reply!

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Press release:

********

OAK Announces Hotel Flag, New Renderings
Introducing Lively Hotel: a new hotel experience by Hilton™, coming to OAK, a vibrant mixed-use district rising in Oklahoma City

OKLAHOMA CITY (Feb. 13, 2023) – OKC-area native Ryan McNeill of Veritas Development today announced Lively Hotel, a 132-key boutique hotel concept by Hilton™, will join the community at OAK, the 20-acre mixed-use district rising at 5101 North Pennsylvania Avenue in Oklahoma City. Dallas-based Gatehouse Capital will develop Lively Hotel in partnership with Veritas. With site work underway, vertical construction of the mixed-use community began last week and ahead of schedule.

Designed as OAK’s “living room,” Lively Hotel is an original concept and part of the Tapestry Collection by Hilton™, a gathering of original upscale hotels. As Oklahoma’s first Tapestry Collection hotel, Lively Hotel will feature 132 rooms; a 3,050-square-foot bar and restaurant; an elevated amenity deck with a 2,400-square-foot outdoor bar and activated pool area; a fitness center; and over 2,600 square feet of meeting space. The scissortail, the state bird of Oklahoma, is the leading design inspiration for the hotel (a rendering can be found here).

“Lively Hotel is a testament to our belief in a ‘new luxury’ that defines itself with ease and energy,” said Penn Collins, President and CEO for Gatehouse Capital. “Historically, Gatehouse’s most successful projects have been lifted by both brand affiliations and partnerships. The firm’s work in concert with Hilton, Veritas, and OAK’s tenants promises to bring not only a new hotel product to Oklahoma City, but an entirely new experience to the region. Benefitting from the amenities provided by this placemaking development, Lively promises to offer both an elevated destination for visitors and a fabulous perch atop OAK for local guests as well.”

At the ground floor, the hotel will feature 13,500 square feet of retail space. Open Realty’s Michael Nagy and Chris Speciale are already in talks with several new-to-market brands for the retail space, with plans to announce concepts in the coming months. Nelson Worldwide is the hotel architect; Sarah Pickard of Pickard Design Studio is the interior designer. Vincit Constructors, the general contractor, and Valor Bank, the lending partner, are both based in the Oklahoma City area.

“Within the past two years, Oklahoma City has seen an impressive tourism rebound,” said Zac Craig, President of Visit Oklahoma City. “In 2021, we welcomed 21.4 million visitors with an economic impact of $3.8 billion. We're excited for OAK to begin taking shape, and know that the mix of top-tier retailers, restaurants, and now, Lively Hotel, will be a significant draw for new visitors, further enhancing Oklahoma City's offerings as a destination.”

The hotel news comes on the heels of several major retail announcements, including RH’s Design Gallery, a new concept encompassing three levels and featuring a Rooftop Restaurant and Garden, Wine Bar, in-house Interior Design Firm and more. Arhaus, a premium home furnishing brand known for its globally inspired, artisan-crafted furniture and decor, will open a 17,000-square-foot space to showcase its products and design services. Upscale steakhouse Capital Grille will open its first location in Oklahoma in a 10,000-square-foot space. Additional retail announcements are planned for later this spring.

The OAK community also encompasses 320 multifamily homes, developed in partnership with luxury multifamily housing developer Mintwood Real Estate. The first-of-its-kind multifamily experience for Oklahoma City will feature curated interior finishes and best-in-class amenities designed for residents seeking a walkable urban lifestyle.

“With vertical construction now underway, finalizing the development partner and concept for Lively Hotel is an important milestone that brings us one step closer to creating a best-in-class mixed-use experience at OAK,” said McNeill. “We have the right partners in place to develop a truly integrated destination, complete with a dynamic retail mix, unique hospitality offering, activated patios and greenspaces, and miles of connected sidewalks.”

McNeill is joined by Everett Dobson and the Dobson family as partners in the multi-phase project.

To learn more, visit oakokc.com and follow the project on Facebook, Twitter and Instagram.


###


About OAK:
Nestled within a city on the rise, OAK is a new type of community unlike anything in the region, destined to change the way life is lived in Oklahoma. OAK is Oklahoma City’s comfortable, walkable mixed-use development where more than two miles of sidewalks weave together first-to-market retailers, restaurants with rooftop dining, Class A office space, luxury residences, a boutique hotel, and a central greenspace that is the heart of a district unfurling with opportunity. Here, sprawling live oak trees stretch upward to invite a region, a city and a community to an invigorating weekday-to-weekend destination where living, creating, playing and working in one connected environment is always in full bloom. To learn more about OAK, visit www.oakokc.com and follow on Twitter, Facebook and Instagram.

About Veritas Development:
Veritas Development is a commercial real estate firm that has developed and acquired over 500,000-square-feet of Class A retail, office and hospitality space. Ryan McNeill, founder of Veritas, is credited with spearheading these efforts and is currently applying a New Urbanist approach to OAK, a dense 20-acre experiential mixed-use development in Oklahoma City. The McNeill family has been part of the Oklahoma community for generations, and has interests in banking, oil and gas, and other real estate investments.

About Gatehouse Capital
Founded in 1997, Gatehouse Capital is a nationwide hotel development firm based in Dallas. Since its inception, the firm has developed more than $700 million of hotel projects with more than $400 million of projects in its current development pipeline as of Q1 2023. Gatehouse, led by Penn Collins, has
developed and maintains a focus on high-barrier projects to develop a true sense of place through the confluence of design, branding, and partnerships. The company currently operates both a lifestyle development and a medical hospitality development platform, seeking to take the principles of hospitality to new realms of health, leisure, and wellness.

About the Dobson Family:
The Dobson family, co-investor in OAK, has been in business in Oklahoma for 85 years and is represented by Everett Dobson. The Dobson family investments include Dobson Fiber, a 5,000-mile fiber optic transport company based in Oklahoma, Oak Tree National golf course in Edmond, Oklahoma and the Oklahoma City Thunder NBA basketball team. The Dobson Family Foundation is also very active in Oklahoma supporting many local non-profit organizations.

About Mintwood Real Estate:
Mintwood Real Estate, founded in 2018 in Dallas, Texas, builds forward-looking and valuable mixed-use and multi-family communities. Mintwood and its entrepreneurial team create distinctive, institutional-quality products that seek to redefine experiences for neighborhoods and their residents. The Mintwood team has built more than 4,000 residential units and more than half a million square feet of retail throughout Texas and across the nation, in addition to facilitating multiple acquisitions, dispositions, and re-zoning successes. To learn more about Mintwood, visit www.mintwoodre.com.

Open Realty
Michael Nagy and Chris Speciale with Open Realty advise on the retail leasing assignment for OAK.

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Nice! Love getting new hotel flags in OKC!

Pete is the building that is now on the renderings west of the apts new ??

thanks

Pete is the building that is now on the renderings west of the apts new ??

thanks

That's always been shown on the renderings and site plan; the look has evolved over time.

Just noticed that the sky crane for the hotel is going up today. Construction is moving quick here.

So many cranes! Hopefully we will get some in downtown for Boulevard Place soon. I've all but given up hope on Alley's End.

^

Thanks, I'll take some new drone photos.

They now have all their financing in place and all their anchor tenants secured. With most of the site work completed, we should see rapid vertical construction from here on in.

They now have all their financing in place and all their anchor tenants secured. With most of the site work completed, we should see rapid vertical construction from here on in.

Do you know if we should expect to hear any more tenant announcements in the near future?

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great to see this go vertical

Which building is the tower crane going to be for?