I just realized that it was a news 9 article and they aren’t exactly known for being the most credible news agency out there. Anyone here in the know have anything to say about this? Hopefully they don’t make the stupid/shortsighted decision to completely downgrade this project and instead just delay it. I’d gladly take a delay to do it right.

Could they not slightly reimagine the northern portion of the property so that they could go ahead and build the residential and some of the retail/restaurant and maybe even try and get the hotel up and running? Wheeler is showing that things can definitely be done in phases. Obviously it's a smaller area, and with a more dense build out, but I have no doubt that the residential component of this will crush it. Downtown obviously has its allure, but this area is increasingly competitive with downtown in terms of restaurant, beats it in retail, and is close enough that the entertainment advantage is largely nullified, additionally there's substantial employment within a 3-mile radius: the mall, several office towers, Integris, Chesapeake/MidFirst campuses.

Glad we sold our house to them a while back before all this! I made some really good money off the sale that I otherwise wouldn't have had I waited them out.

Glad we sold our house to them a while back before all this! I made some really good money off the sale that I otherwise wouldn't have had I waited them out.

Not sure about that. I live a few blocks south and my home value went up more than 50% in four years.

Not sure about that. I live a few blocks south and my home value went up more than 50% in four years.

I recall Chesapeake was the buyer of the houses for a "Grand Plan" project they had lined up. Aubrey had a well earned reputation of paying a premium for properties that fit into his vision, and being very generous with all expenses related to a move. I have heard of such minutiae as paying for checks with the new address. Items that don't show up on the county assessor site as the sale price.

The 7 houses on Barnes have been razed.

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Once again, great shots. Do you fly these from your back yard Pete?

Once again, great shots. Do you fly these from your back yard Pete?

No, I always drive to sites so I can watch the drone with my eyes.

I guess this is a sign the developers are moving forward?

I don't think so. I take it more of they don't want to deal with vacant dilapidated properties, and are going to get them reassessed to lower taxes.

They had forced out all the tenants in both the homes and the office park and the properties were becoming a nuisance to the neighborhood.

Oak is in a holding pattern as they try to figure out how to go forward in phases.

Looks like the Oak Guys are trying to get their Miley Cyrus on.

Lots of big equipment on location and red dust flying everywhere.

When I was by there yesterday, it looked like they were clearing the site of trees, etc.

sounds like GOOD news to me.

Hopefully OKC can get OAK looking somethning this (Kirkland, WA (Seattle Eastside) new Totem Lake):

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by the way, Totem Lake used to look like the below and was dead for years until the above town hall masterplan was implemented (construction in 2019 iirc):


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old, boring, dead Totem Lake MALL

sorry for the 3 posts, but I so wish OAK can develop like Totem Lake and Penn Square could redevelop like Alderwood Mall (Lynnwood, WA [Seattle North]) or even better Northgate mall in N Seattle.

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Alderwood mall (new outdoor shoppes fronting the main mall)


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New Northgate mall outdoor frontage shoppes

by the way, both of these opened after 2016 and Northgate is getting a light rail station (I don't know if Alderwood is).

but I hope OKC-OAK can develop like Totem and perhaps a few more of these mall-redevelopments like Northgate (great for Penn) or Alderwood (Quail, Crossroads). You no longer NEED department store anchors for regional mall success; today, you now need walkable frontage type shoppes and restaurants/hotels drawing customers to what's inside the rest of the traditional mall!

Imagine OKC with OAK (similar to Totem Lake), Penn redeveloped (similar to Northgate), and 50-Penn truly realized as an upper posh boutique galleria (Gucci, Prada, LV) - all three next to each other in/near the highest income area of the state with BRT right there at Penn/NW Expressway!!

Tell me that isn't doable, esp if it's phased built in the order like I presented!

Steve what are the chances of this still resembling the original renderings ?

Steve what are the chances of this still resembling the original renderings ?

Zero percent, unless oil goes to $100+/bbl

Why do you think a barrel of oil needs to be $100+?

Why do you think a barrel of oil needs to be $100+?

I think you just need like 55-60 to see companies be stable again. Although I don’t think we will see growth of companies but rather companies be more financially stable. Which is better anyway

This city's economy is not nearly as reliant on oil as it used to be.

Echoing the thoughts of a few other people further up the thread, I would hope that they complete it in 2-3 stages and come as close to the initial renderings as possible. They don't have nearly as much land to cover as Chisholm Creek, so it at least seems possible that they can pull it off at some point.

Oil people always think it’s about them and oil. This is a casualty of Covid. It has caused developers to reconsider the mix of product in new developments. Less restaurants and bars, less retail, and maybe even less office demand.

^

And less hotels, as one was planned for this project.

Steve what are the chances of this still resembling the original renderings ?

Steve lol

Given the recent vaccine news, I'm a little more optimistic that the people behind this project might be willing to wait 2-3 years and see how quickly the economy recovers. Of course the question is, how much are developers willing to see COVID as a one-off, versus a potential harbinger of future pandemics.

Lol NO I DIDN’T

Is this project still moving forward?

Not anytime soon.

They keep posting on their social media sites, so that's a good sign I guess, lol?

Building permits have been filed for the first phase of this project, which will consist of 320 apartments, 20,000 square feet of retail space on the ground floor, and a large parking structure in the center.

The developers have acquired an additional 12 homes that will be demolished. 9 homes have already been razed.

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Building permits have been filed for the first phase of this project, which will consist of 320 apartments, 20,000 square feet of retail space on the ground floor, and a large parking structure in the center.

The developers have acquired an additional 12 homes that will be demolished. 9 homes have already been razed.

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Love to see forward motion on this.

Will that require the 50th realignment out to Penn be finished?

Wow this residential design puts all the other ones to shame! So glad to see some movement on this!! And they have balconies!!!

home run ..

Neat! Figured this was a Covid casualty.

Will that require the 50th realignment out to Penn be finished?

Yes.

50th will curve to the south and then connect to the existing traffic signal that also serves 50 Penn Place.

Awesome news, but does this mean that phase one is only a parking garage?

Fantastic! So happy this is moving forward.

And right on the Penn/NW Expy BRT stop. Depending on how the rest of the development plays out regarding amenities I have to imagine this may be a popular destination for those commuting to downtown..

Awesome news, but does this mean that phase one is only a parking lot?

No.

They will build the apartments and retail around the garage once it is constructed. Similar to Canton (formerly Residences at Classen Curve).

My prediction: Phase 1 is as far as it ever goes.

My prediction: Phase 1 is as far as it ever goes.

I'll take that bet.

They have a ton of money sunk into this project and it's a fantastic location.

Wow this residential design puts all the other ones to shame! So glad to see some movement on this!! And they have balconies!!!

Agreed

No.

They will build the apartments and retail around the garage once it is constructed. Similar to Canton (formerly Residences at Classen Curve).

That makes sense, and it also makes sense they would sequence it that way. Sorry for the dumb question.

I'll take that bet.

They have a ton of money sunk into this project and it's a fantastic location.

I hope I'm wrong! I love the design and location, but I feel burned with other high dream projects being watered down, half ass, or not even brought to light with just an empty lot to show for it.

My prediction: Phase 1 is as far as it ever goes.

It's always easier to get financing and investors for housing. People will always need somewhere to live.

The hard part is financing and investors for office development, because if you don't have a anchor tenant ready to go, its a hard sale.

Looks like there will be a new street connecting to NW Expressway? Am I reading that wrong?

Looks like there will be a new street connecting to NW Expressway? Am I reading that wrong?

looks like "oak street"

This looks top-notch! Hopefully some of the retailers that have closed in OKC recently may return with this project, but I know that may be a long shot. It would be nice to have a good mix of national, regional, and local tenants.

https://www.oklahoman.com/story/news/2021/08/25/oklahoma-penn-square-mall-okc-apartment-mixed-use-development-housing/5573697001/

https://www.oklahoman.com/story/news/2021/08/25/oklahoma-penn-square-mall-okc-apartment-mixed-use-development-housing/5573697001/

Steve Late-meyer with his usual copycat story (behind a paywall, no less) 3 days after he reads it on OKCTalk.

I like that Latemeyer... lol

I'll say it here now. I expect that these grandiose plans will never come to fruition and the best we'll see on this corner are some four-story, wooden-frame apartments built to fall apart after about 20 years. But they'll keep the TIF money.

I'll say it here now. I expect that these grandiose plans will never come to fruition and the best we'll see on this corner are some four-story, wooden-frame apartments built to fall apart after about 20 years. But they'll keep the TIF money.

You're a ray of sunshine on a cloudy day...

You're a ray of sunshine on a cloudy day...
I mean if you want to base it off of OKC's track record how is he wrong? I will say I believe this development will move forward. Once office workers come back(I'm not fully buying the whole work from home is the future thing though I am sure it will play a bigger role than it used to) and retail expands again other parts of this will come together. I wonder if anywhere around the country has started construction a new lifestyle center mall that wasn't U/C before COVID hit.

The housing, hotel, and retail will be built. This is a good location, and high incomes surrounding.

The hotel & apartment industry in OKC is booming.

Now the office phase of this project, meh, that's a toss up, lol.

I'll say it here now. I expect that these grandiose plans will never come to fruition and the best we'll see on this corner are some four-story, wooden-frame apartments built to fall apart after about 20 years. But they'll keep the TIF money.

There is no TIF money.

There is no TIF money.

Honestly, I didn't even look and just assumed. Amazing that a developer can do anything in this town without TIF.

What projects outside of the core area have received TIF money?

What projects outside of the core area have received TIF money?

Almost none. You have to do a project within an established TIF district which are all in the core.

The one small exception is the NE 23rd corridor.

dont forget about Lincoln and MLK.

dont forget about Lincoln and MLK.

Those aren't TIF districts.

There is a design district along Lincoln.