There is a ton to be done to make this development ready in 60 days, but you can see great progress week by week.

I was told they have a tenant for the pavilion in the middle of the green space; I know it's a restaurant of some type and believe it will be new to the market. Should know more soon.

There is a ton to be done to make this development ready in 60 days, but you can see great progress week by week.

I was told they have a tenant for the pavilion in the middle of the green space; I know it's a restaurant of some type and believe it will be new to the market. Should know more soon.

It wouldn't surprise me if it started with a "Sha" and ended with a "ke shack"...

Price Edwards and Co indicated something similar their 2023 Year-End Retail Market Report.


Top 10 Retailers Likely to Enter the OKC Market in 2024
1. Shake Shack – The popular burger chain is pushing into secondary markets across the country. Would be popular destination in Midtown or Uptown.

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Since they went ahead a built out a parking lot where the office building was supposed to go. Guess this means its dead, or it won't happen anytime soon.

Since they went ahead a built out a parking lot where the office building was supposed to go. Guess this means its dead, or it won't happen anytime soon.

Sorry Mr. Negative.

The parking lot was always planned and is temporary until the office building is constructed.

http://www.okctalk.com/images/pete/oak080224i.jpgThat apartment complex looks outstanding and I like how the parking garage is hidden from view.

Now that the landscaping is going in, this entire development looks very nice from ground level.

I'll try to get some of those shots soon.

Since they went ahead a built out a parking lot where the office building was supposed to go. Guess this means its dead, or it won't happen anytime soon.

Because surface lots are so hard to build on.

And that parking lot has been roughed out for about 3 months as I've documented with hundreds of photos.

Pete, from your understanding, what has to happen for that office to get built? A Percentage of pre-leasing? Are they just waiting for phase 1 to be filled in?

Pete, from your understanding, what has to happen for that office to get built? A Percentage of pre-leasing? Are they just waiting for phase 1 to be filled in?

I think they want to get the hotel, some retail, and a couple of restaurants open before the holidays.

I wouldn't be surprised if the office building starts next year, and they are making good progress on all the food/restaurants for the final phase.

Sorry Mr. Negative.

The parking lot was always planned and is temporary until the office building is constructed.
do you think they will start on the next phase pretty quickly once they complete everything currently under construction?

do you think they will start on the next phase pretty quickly once they complete everything currently under construction?

Not Pete, but I'm assuming it will be based on leases for that building. Depends what their threshold is. I have clients that like a building to be 60% leased before they build, hoping to get that last 40% during construction.

The office building has always been "Phase II".

I was told they are close to moving forward with it. The most important part of that is a bunch more retail/restaurant space at ground level.

Not Pete, but I'm assuming it will be based on leases for that building. Depends what their threshold is. I have clients that like a building to be 60% leased before they build, hoping to get that last 40% during construction.
Is there a WeWork in OKC? They tend to go in developments like this. They may be a good client to take up some space.

The office building has always been "Phase II".

I was told they are close to moving forward with it. The most important part of that is a bunch more retail/restaurant space at ground level.
There’s a phase 3 and 4 as well, right?

Phase III will be the restaurants on the site of what is now the remnants of the Registry building.

Phase III will be the restaurants on the site of what is now the remnants of the Registry building.
Got it. And then I guess phase 4 was me thinking the same ownership who is building this development just bought the property across Penn, right?

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For anyone asking when things are going to get built, this is from pete's post on page 21 on 2/15/22

Thank you

And the layout of what I posted obviously changed because pottery barn wanted their own space and I think there were only two “pads” for capital grille and RH and then Arhaus was added or just altered to have their own stand alone.

The layout has changed many times, based on shifting market conditions and actual leases they can generate.

But the office building and the development to the west were always going to be in later phases; that's never changed and we've been talking about this development for over five years.

I guess the idea of leaving something a grass field for a little while freaks drivers out. :)

The Red Carpet will probably be demolished and turned into temporary parking while that new office/parking garage is under construction.

The Red Carpet will probably be demolished and turned into temporary parking while that new office/parking garage is under construction.

The Red Carpet property is tiny and Oak already has a deal with 50 Penn to use their parking as well as Crossings Church and the big parking garage is still not fully open.

They will let Red Carpet continue to operate until they are ready to build a restaurant (unknown exactly which).

The Red Carpet property is tiny and Oak already has a deal with 50 Penn to use their parking as well as Crossings Church and the big parking garage is still not fully open.

They will let Red Carpet continue to operate until they are ready to build a restaurant (unknown exactly which).
do you think anything will be done with 50 Penn Pl.? That building seems like it’s overdue for a remodel and it would be nice if they would extend some of the building closer to the street and maybe make the parking garage a little bigger to get rid of some of the surface parking and develop it.

do you think anything will be done with 50 Penn Pl.? That building seems like it’s overdue for a remodel and it would be nice if they would extend some of the building closer to the street and maybe make the parking garage a little bigger to get rid of some of the surface parking and develop it.

Not anytime soon. Most of the former retail space is leased to Epic charter school.

OAK is planning a holiday ice rink:

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That'll be awesome at that location.

Steel is going up on RH Gallery:

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Interesting timing on your drone shots, looks like there is 3 OKC PD vehicles in/surrounding the construction site when you were there.

Interesting timing on your drone shots, looks like there is 3 OKC PD vehicles in/surrounding the construction site when you were there.

Now that the perimeter fencing is pretty much down, they are there all day, every day.

Looking at the hotel it still amazes me that a high quality development would use residential style AC units and through the wall AC units instead of a central system that is way more efficient and quieter (inside and out), as well as having a much longer life, not to mention having a much more sealed building envelope. Same for the apartments.

Looking at the hotel it still amazes me that a high quality development would use residential style AC units and through the wall AC units instead of a central system that is way more efficient and quieter (inside and out), as well as having a much longer life, not to mention having a much more sealed building envelope. Same for the apartments.

the hotel is using a central system

and for the apt it is about have individual central air systems ... for separate bills .. and maintenance

the hotel is using a central system

and for the apt it is about have individual central air systems ... for separate bills .. and maintenance

It appears they are using vtac units according to the condenser louvers at each room. Those are not central systems. Please identify what central system you claim they are using.

the hotel is using a central system

and for the apt it is about have individual central air systems ... for separate bills .. and maintenance

BTW, you can individually bill with central systems. That isn't the reason developers put in the residential style split systems. And maintaining a central system can be way easier than properly servicing hundreds of condensers and hundreds of air handlers. And, you have to install way more tonnage for individual units than a central system. Diversity, efficiency and lifespan greatly favors central systems.

BTW, you can individually bill with central systems. That isn't the reason developers put in the residential style split systems. And maintaining a central system can be way easier than properly servicing hundreds of condensers and hundreds of air handlers. And, you have to install way more tonnage for individual units than a central system. Diversity, efficiency and lifespan greatly favors central systems.

maybe the massive unit on the roof is just for the hotel common areas then .. my mistake ..

maybe the massive unit on the roof is just for the hotel common areas then .. my mistake ..

Yes, probably for make-up fresh air, hallways, and other common areas.

Pete, now that construction on he hotel is nearly done, it looks like there won't be a portico from dropping off/picking up. Speaking as a somewhat regular traveler, I really appreciate one where I stay.

I agree Rover, but it does appear the apartments have individual condensers on the roof (better than in the window/siding), but yeah - not as perfect/upscale as a central unit or plant. ...

I agree Rover, but it does appear the apartments have individual condensers on the roof (better than in the window/siding), but yeah - not as perfect/upscale as a central unit or plant. ...

Except on the roof is the hottest area for all the condensers, which means they aren't operating at their best level. And, they are all subject to the dirt and erosion from the harsh environment on the roof. You still cannot take advantage of building diversity, which means you are wasting energy and installing way too much tonnage overall. You are likely oversizing each unit, which in Oklahoma means you aren’t dehumidifying properly. That means less comfort and most will counter by lowering their thermostat temp, which just means more running time and less efficiency overall.

Except on the roof is the hottest area for all the condensers, which means they aren't operating at their best level. And, they are all subject to the dirt and erosion from the harsh environment on the roof. You still cannot take advantage of building diversity, which means you are wasting energy and installing way too much tonnage overall. You are likely oversizing each unit, which in Oklahoma means you aren’t dehumidifying properly. That means less comfort and most will counter by lowering their thermostat temp, which just means more running time and less efficiency overall.

what is the cost difference for a whole building system for apts .. vs the individual units on the roof? ? 20% more or 50% more ??

Cloud Puncher.

Lounge at the Lively Hotel.

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Tommy Bahama signs are up.

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Oak just posted on Instagram that The Oil Tree is joining as their first local shop.

Oak just posted on Instagram that The Oil Tree is joining as their first local shop.

That's great! I like the Oil Tree and kinda sad their small location in Sailor and the Dock closed a couple months ago.

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I was at Penn Square over the weekend and noticed that someone has already this submitted as a Pokestop for Pokemon Go. That's jumping the gun a bit but I bet this development will be a really location for that game once everything is open and people have had time to submit more POIs. The cloud sculpture will definitely be one eventually, hopefully someone will be properly clever and get it set up as a gym.

I don't know if this has been reported, but the Lively Hotel opens September 19. From their website https://www.hilton.com/en/hotels/okcupup-lively-hotel-on-oak-oklahoma-city/

I don't know if this has been reported, but the Lively Hotel opens September 19. From their website https://www.hilton.com/en/hotels/okcupup-lively-hotel-on-oak-oklahoma-city/

Thanks.

That's a month from today and I just walked around it tonight and they are going to have to hustle over the next four weeks. The entire site is still a pretty big mess.

Hard to believe the hotel is planning to open in a month.

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Here's an update...

Lively Hotel will be first to open around Sept. 19th; maybe a little earlier. NW 50th will reopen before the hotel.

Then in early October, Capital Grille, Tommy Bahama Marlin Bar and store, Williams Sonoma, Pottery Barn, and Arhaus will all open.

First tenants will start to move into the Residences at OAK in mid-October; that will be the northwestern section. The units bordering the park will open late this year; the remainder along 50th and facing west will open early 2025.

Mesero hopes to open before the end of the year.

RH Gallery is slated for the middle of 2025.

It turns out they are going to keep the western third of the old Registry building. They had already demolished the eastern section and will soon do the same with the middle portion. The remainder will be remodeled for restaurant/retail/office.

The office building is on hold until they can find quality tenants in the very soft OKC office market.

They are well along in negotiations with several new-to-market restaurants and retailers, including a couple of upscale clothing chains. The priority is getting open before the holidays, then we should see more deals announced as they push to fill out in 2025.

Nothing is imminent on the Red Carpet site as they will first ensure OAK is full and thriving.

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Excited about Mesero. Never eaten there before but their menu looks fantastic. Ahi nachos are first up. https://www.mesero.net/menu

Bummer but makes sense about the offices, which will be helpful in making it a thriving, busy place to be at all hours. But have to make the numbers work, which is definitely tough in this market.

Gotta love the Social Media comments on Pete's post... But, but, but parking...

Gotta love the Social Media comments on Pete's post... But, but, but parking...

Yep... The person that finally manages to design a development where every parking space is an up front parking space will be worshipped more than God in Oklahoma.

I know the names of several restaurants and retailers they are working with, and they will all be new to Oklahoma and pretty impressive.

I imagine once they get open and past the holidays the dominos will really start to fall.

As with anything of this scale, it's just so much more impressive in person.

Today, there was tons of activity at the intersection of 50th & Penn.

It looks like they are getting close to reopening 50th, which they must do before the hotel opens on 9/19 (possibly earlier) for safety reasons.

We went to the Belle Isle Brewery last night for dinner and you can't make a left turn on to Penn out of the 50 Penn Place at the light because of the construction and traffic cones at the new 50th intersection. BTW the Belle Isle Brewery is one of the best under the radar restaurants in our rotation. Great food, selection, and really reasonable prices compared to other sit down restaurants. And it's never crowded when we go.

We went to the Belle Isle Brewery last night for dinner and you can't make a left turn on to Penn out of the 50 Penn Place at the light because of the construction and traffic cones at the new 50th intersection. BTW the Belle Isle Brewery is one of the best under the radar restaurants in our rotation. Great food, selection, and really reasonable prices compared to other sit down restaurants. And it's never crowded when we go.

Do they still allow smoking?

That is a total deal-breaker for me.

I've never seen anyone smoking in the restaurant ever. I'm talking about the downstairs restaurant. Not the bar upstairs. The bar has been pretty much closed since covid. I think it is only open on weekends for special events.