While driving by yesterday (Thursday). I noticed they have started tearing down the building on the SW Corner of Penn & Expressway. I believe this was the old Salvation Army regional offices. This is also the rumored site of where the Container Store was going to go back before the crash of 2008 when Chesapeake was doing a bunch of retail expansion in the area, (Classen Curve, etc.). Does anyone know what the latest on this property is?

Idk.... but I do know it was the HQ for Oklahoma Feed the Children, not SA.

It was the Salvation Army when Chesapeake bought it several years ago. It has not sold; at least the sale has not been recorded by the Assessor.

Chesapeake also owns all the 10 homes on Barnes directly behind (west) of this property. In all, they've paid $3.7 million for just under 3 acres.

Before the homes could be incorporated into some sort of commercial development, they would have to be rezoned.



http://www.okctalk.com/images/pete/chk50penn.jpg


http://www.okctalk.com/images/pete/chk50penn2.jpg

Good prime location for redevelopment! High profile intersection. Interesting to see what will eventually be developed on this spot. I hope they are able to incorporate those trees into the development. OKC is notorious for mowing down trees in the name of progress.

Idk.... but I do know it was the HQ for Oklahoma Feed the Children, not SA.

As I previously stated and Pete clarified, it indeed was SA. FTC HQ and trucking facilities have been on N. Meridian for many many years.

Anyhow, Pete, I'll try to snag pictures the next time I drive by. I actually might have one on my phone, but it's not the best based on where I stopped at the light.

I drove by the location and noticed the removal of the decorative blocks that were used to screen the windows. I'll keep an eye out if they bring in a grapple and front end loader for major demolition.

I saw on the OKC building permits that a application was approved on 03/24/17 5101 N. Penn for demolition of this building. There is also scheduled a home at 5100 N Barnes is scheduled as well for demolition. It shows the application owner is Veritas development with a Suburban Tulsa address. Maybe Pete would care to chime in and see what is scheduled to be developed? Very prime location!

If it's the same Veritas Development Partners as in this article, it sounds likely to be a retail strip center, likely anchored by a Starbucks: https://www.questia.com/newspaper/1P2-34982462/veritas-and-ventis-tulsa-based-developer-plans-two

New commercial development planned for Penn & NW Expressway (http://www.okctalk.com/content.php?r=377-New-commercial-development-planned-for-Penn-NW-Expressway)

Demolition started today on the southwest corner of Pennsylvania and NW Expressway to make way for a new commercial development.



http://www.okctalk.com/images/pete/50penn032717a.jpg

http://www.okctalk.com/images/pete/50thpenn1.jpg

Tulsa developer Ryan McNeil acquired 3.26 acres from Chesapeake Energy in February of 2016 for $4.1 million and recently received approval to rezone for commercial use.

A preliminary master plan shows three buildings on the site with an new entry and exit directly from NW Expressway.


http://www.okctalk.com/images/pete/50thpenn4.jpg


McNeil has developed several Starbucks and the center building appears to for that Seattle company, with a drive-thru.

Chesapeake had acquired 9 homes on either side of Barnes Avenue north of 50th plus the former Salvation Army building (1955) for a total of $3.7 million between 2011 and 2013.


http://www.okctalk.com/images/pete/50thpenn2.jpg

They're already about a quarter of the way through demolition. It's going down fast today.

As I mentioned prior, I hope their able to incorporate those beautiful trees into the development, however I am not holding my breath?

This is pretty bad. Surprising for such a prime site to see such a cheap development, really speaks to where the OKC commercial market is.

Tearing down 9 residential units and a significant office building for three retail pads and a sea of parking.

The site plan I posted is very preliminary and was intentionally vague and plain, as is often the case with a PUD.

Hope to have more details soon.

Which is funny because with a PUD, the zoning is the adopted site plan.

Even from a preliminary review, there has to be a higher and better use for land that must cost at least 150K per unit. Even though that Belle Isle neighborhood is pretty middle income, those lots are smaller than usual so the land value should be decent.

No, the PUD is just a set of broad guidelines and once approved, the developer can build freely as long as they stay withing the parameters.

No, the PUD is just a set of broad guidelines and once approved, the developer can build freely as long as they stay withing the parameters.

Also known as land use zoning

Heard from a reliable source that one of these buildings will be a Chuy's.

Awesome news. Can't believe they are just now putting their first location in OKC.

Great write-up on the mid-century building that was recently demolished on OKC Mod Squad:

http://okcmod.com/?p=14229

Pretty much a goner:

http://www.okctalk.com/images/pete/50penn040217.jpg

I'm a little bummed about the loss of this building. It was pretty cool.

I noticed that sod was laid over the barren ground. I'm guessing that the development of the site has been pushed back.

I noticed that sod was laid over the barren ground. I'm guessing that the development of the site has been pushed back.

Yeah, nothing seems to be happening here.

They also own all the homes on Barnes to the west and I recently noticed they have been actively trying to rent them.

They also purchased the Registry building in March of 2017 for $5,600,000 or $53.58/sf of gross building area.

On further examination, it looks as though McNeill also purchased Penn Park Office Complex in February of 2017 as well as the Registry in late March of 2017. It looks like they had to put up nearly $2,000,000 in cash to buy these properties, which may or may not explain the slowdown of development on the corner. My assumption is, they may be cash light at the moment and are staying on the conservative side. Office doesn't seem to be Veritas Developments' modus operandi. McNeill seems to be more of a retail developer, so these may be holds while they develop the corner. The properties are on a 2 year (Penn) and a 5 year (Registry) note. Once the balance is paid off and the corner is stabilized, I could see Veritas applying for two new demolition permits. Definitely something to keep an eye on. I wouldn't be surprised to see them acquire additional properties between now and then.

Below are the properties McNeill owns.

14135

^

Thanks! Very interesting.

I suspect the relatively ramshackle Penn Park (which fronts Penn) and everything north of 50th will eventually be razed for some sort of retail.

But I seriously doubt they would pull down The Registry, which is a nicer complex with two big atriums and stays well leased. Also, it sits back in a residential neighborhood on NW 50th, which is only two lanes with no left turn on Penn.

http://www.okctalk.com/images/pete/registry1.jpg

I was also sad to see this old building razed. If it were located in downtown or midtown, there would have been all kinds of efforts to save it.

^

Thanks! Very interesting.

I suspect the relatively ramshackle Penn Park (which fronts Penn) and everything north of 50th will eventually be razed for some sort of retail.

But I seriously doubt they would pull down The Registry, which is a nicer complex with two big atriums and stays well leased. Also, it sits back in a residential neighborhood on NW 50th, which is only two lanes with no left turn on Penn.

http://www.okctalk.com/images/pete/registry1.jpg
I believe you are exactly correct unless plans have recently changed. The Penn Park site was planned to be retail. The Registry value will go up, most likely, so they may just be trying to capitalize on the longer term value increase created by the new retail development next door. Registry is still economically viable.

Anyone know what they are planning for the SW corner of NW Expressway and N. Penn, I received a letter from the developer to vote on 5 houses on my street from NW 50 on NW 52 going west the odd numbers to zone as business, they already have all the houses on N. Barnes from NW 50 north, someone on Facebook gave me this https://agenda.okc.gov/sirepub/agdocs.aspx?doctype=minutes&itemid=132616

Veritas Development
8908 S. Yale Ave, STE 428
Tulsa, OK 74137

http://www.okctalk.com/showthread.php?t=38833&highlight=Nw+Expressway+Penn

Can anyone PM me an email or FB page for Veritas? They either go by another name or don't have an easy to find listing.

Can anyone PM me an email or FB page for Veritas? They either go by another name or don't have an easy to find listing.

They don't have a webpage.

Just some attorneys out of Tulsa that does a small amount of development.

I have additional documents from the developer, they want to block access to NW 50 from Penn if you want to access you have to go to light signal at the business entrance.

14768 14769 14770 14771 14772 1477314774 14775

this is wrong, no longer in the plans

http://www.okctalk.com/showthread.php?t=44415

Thanks! Strange not even an email address......

http://www.okctalk.com/showthread.php?t=44415

This thread has added documents from the developer!

Plans underway for large-scale development at Penn and NW Expressway (http://www.okctalk.com/content.php?r=527-Plans-underway-for-large-scale-development-at-Penn-and-NW-Expressway)

A development group out of Tulsa is seeking to rezone property between NW Expressway and NW 50th west of Pennsylvania Avenue with the goal of creating a 5-story mixed-use development.


http://www.okctalk.com/images/pete/50thpenn072218.jpg


Veritas Development is led by Ryan McNeil and over the last several years have acquired several tracts opposite of Penn Square Mall.

The group first purchased the former Salvation Army property and several homes from Chesapeake Energy in 2016.

Last year Veritas also acquired the Penn Park and Registry office complexes, pushing their holdings in the area to just under 12 acres with almost $15 million in total investment.

The developers have held approximately six meetings with local residents over the last year to share their conceptual plan, which calls for re-routing NW 50th through their prposed project and in alignment with a traffic light which also serves 50 Penn Place to the east.


http://www.okctalk.com/images/pete/50thpenn072218a.jpg


http://www.okctalk.com/images/pete/50thpenn072218b.jpg


Currently, traffic cannot turn left from NW 50th onto Penn, nor can it turn left onto 50th from Penn.

Preliminary plans distributed to surrounding neighbors show the demolition of all existing structures, NW 50th rerouted to the south, and several new buildings featuring retail and restaurants on the first level, then apartments and offices on levels 2 through 5 above. There would also be several multi-level parking structures.

In 2016, Veritas received approval from the city's planning commission to rezone the old Salvation Army property and homes on Barnes to a Simplified Planned Unit Development (SPUD) which at the time was to feature a Starbuck's with a drive-thru and two more small commercial buidlings. Read our story on that project here (http://www.okctalk.com/content.php?r=377-New-commercial-development-planned-for-Penn-NW-Expressway).

In early 2017, the Salvation Army building was demolished but the houses on Barnes have remained rented to tenants and well occupied.

Veritas has sent letters to the approxmately 115 homeowners in the Wileman Fourth Addition, a neighborhood bounded by NW Expressway, 50th, Villa and Penn. The letters offer $500 to those who sign a document saying they agree to amending the platted restrictions and re-zoning 5 homes to commercial.

Correspondance has also been sent to homeowners within a 300-foot radius of the Registry building seeking to release covenants regarding height and building setbacks, among others. Veritas is offering $200 to homeowners who sign off.

If Veritas is able to obtain the needed signatures, the next step would be to officially file rezoning plans with the city of Oklahoma City, at which time surrounding property owners – both residential and commercial – will be notified. All meetings of the planning commission are open to the public.

The developers are also planning to continue meeting with surrounding residents to inform and receive feedback.


http://www.okctalk.com/images/pete/pennpark.jpg

http://www.okctalk.com/images/pete/registry.jpg

Hmm. I'm not quite sure what to think of this project.

It's absolutely beautiful. Build it it just like that and build it now. This would be a huge boon to the area. More pivotal than the NH Plaza/Classen Curve developments.

Just wait for all the negative comments and then jump on the bandwagon.

Just wait for all the negative comments and then jump on the bandwagon.

Haha, no need to wait. I absolutely love this. I'm already rolling.

Isn’t this the sort of project everyone around here is dying for? Looks pretty awesome to me

The location seems off to me, but I love the idea of the project. I do look forward to seeing more detailed renderings.

Isn’t this the sort of project everyone around here is dying for? Looks pretty awesome to me

Yes! Not only that, but it's in an area that could truly use a facelift. Between 23rd and Expressway, Penn could use a TON of help. This development could massively spur that, as well as help 50 Penn Place, Penn Square and Belle Isle. Huge huge huge huge impact.

That is of course, assuming it gets built to exactly what those plans show. They're easily adding more office space then what they are tearing down, plus several restaurants and retail floors AND tons of living. And it's dense. Hell. Yes.

The developer is offering $500 per homeowner to amend plat restrictions and facilitate reasoning. Is that a typical tactic on a project such as this?

How much more re-zoning will this have to go through? I just want as few chances for NIMBYs to ruin it as possible. This would be an awesome development!

Apart from gathering the signatures of homeowners, the developer will have to go through a full re-zoning process with the Planning Commission.

They would likely file for a SPUD outlining the general permissible uses, maximum height, range of materials, etc. The SPUD zoning would follow the usual course of notifying surrounding neighbors, being on the advance agenda for the particular PC meeting, then once approved, would have to be passed by city council.

Since the developers have already spent $15 million, the only way this project works is for them to go dense and build up.


Coincidentally, I live in the neighborhood directly south, although a few blocks away so it's not like I'd have someone in a 5th-floor apartment looking down on my backyard. That will definitely be the case for the closer homes, though.

Personally, I like the idea because it would give me a place to walk. As things sit now, there is literally nowhere I can walk with my dog(s) and then sit outside. The closet thing would be traversing NW Expressway and sitting on the patio at the Cheesecake Factory. I could also go to Whiskey Cake but the only way to get there on foot would be to cross a huge parking lot with no sidewalks anywhere.


It's an interesting idea and I look forward to seeing the plans when they are more fleshed-out. I haven't been going to the neighborhood meetings as I am just outside the notice zone but I'm now on their list and will be sitting in on the future info / feedback sessions.

Yes! Not only that, but it's in an area that could truly use a facelift. Between 23rd and Expressway, Penn could use a TON of help. This development could massively spur that, as well as help 50 Penn Place, Penn Square and Belle Isle. Huge huge huge huge impact.

That is of course, assuming it gets built to exactly what those plans show. They're easily adding more office space then what they are tearing down, plus several restaurants and retail floors AND tons of living. And it's dense. Hell. Yes.

Plus, 3 parking garages! Should be right up your alley ;)

i'm just excited that they are adjusting 50th to that light... I hate this small stretch of road... so will be much happier with it now

Happy this will connect pretty well to the surrounding neighborhood.

I think the initial conceptual plans are promising, but find it a little unplanned due to the brand new road that was laid down as part of the recent BOND and Penny TAX initiatives. They would need to spend their own money rebuilding the civil part of this project.

I live in the area that they want our approval, I use 50th street all the time, I like that I can tow my toyhauler on 50th from Penn, if this goes thru I will have to look at another route, I'm voting NO

I hope they know the $500 is income and will be taxed at the end of the year

I live in the area that they want our approval, I use 50th street all the time, I like that I can tow my toyhauler on 50th from Penn, if this goes thru I will have to look at another route, I'm voting NO

Why can't you continue to do so with the shifting of 50th street?

Why can't you continue to do so with the shifting of 50th street?

can't there is a median at the entry off of Penn

I live in the area that they want our approval, I use 50th street all the time, I like that I can tow my toyhauler on 50th from Penn, if this goes thru I will have to look at another route, I'm voting NO
Given that this likely increases your property value substantially, I am surprised that an occassional re-routing would make anyone say no. Oh well, everyone has their own priorities and this is why this thing isn't a slam dunk. Investing millions and bettering the neighborhood vs. letting it continue to run down. Seems like it would be an easy choice.

Pete in your drawing like I said to you, they want to buy those 5 houses on 52nd odd numbers, this will lower our real estate values of our houses too, to have a business come into a residential area

Given that this likely increases your property value substantially, I am surprised that an occassional re-routing would make anyone say no. Oh well, everyone has their own priorities and this is why this thing isn't a slam dunk. Investing millions and bettering the neighborhood vs. letting it continue to run down. Seems like it would be an easy choice.

anytime a business comes in, your property value decreases

anytime a business comes in, your property value decreases

I definitely don't understand this, the places I have looked at in the city all have had steady rises in property value despite having a multitude of businesses in the backyard...