Strong start!

Has anyone else read this weird blog from Strawberry Fields’ spiritual director?

http://www.strawberryfieldsok.com/blog/2018/2/6/imagine

http://www.oklahoman.com/article/5583718?embargo_redirect=yes

i heard newly elected okc mayor david holt speak about his intentions to bring a major league soccer franchise to the city because it is the type of investment that fosters a different quality of life for the city...and cited as backdrop the efforts behind bringing the thunder to okc and the city seeing a transformation into what he labeled on his book "big league city"; anyways, i think the strawberry fields area would make perfect sense for a pro stadium accross the street from the new park, convention center, hotel, the chesapeake area, streetcar, new okc blvd. and two blocks from the central business district. so with the new mayor and his ideas of the value of pro sports teams in the city, this idea could or should pick up some momentum.

Ambitious to say the least! I figured they would go a different direction with this. Maybe single family housing-type neighborhoods with a little retail thrown in. I love their vision if it comes to fruition.

I don't know about having the stadium in Strawberry Fields. I like the idea of it being part of the grander development that's going to reshape the downtown area, but at the same time it would swallow up most of Strawberry Fields. I think I'd rather SF develop into another mixed use district and try to find a spot along the river for the stadium.

The land in Strawberry Fields is way, way too expensive for a big stadium.

If they couldn't make it work on the Coop site, no way it would make monetary sense here.

From Strawberry Fields Twitter feed:

14472

I would consider that a good start to the development!

http://www.oklahoman.com/article/5583718?embargo_redirect=yes

That's a little unusual thing for a Chesapeake HR guy to be writing.... I wonder what his connection is to this project?

That's a little unusual thing for a Chesapeake HR guy to be writing.... I wonder what his connection is to this project?

Wut

wut


that's a little unusual thing for a chesapeake hr guy to be writing.... I wonder what his connection is to this project?

that's a little unusual thing for a chesapeake hr guy to be writing.... I wonder what his connection is to this project?

What CHK HR guy? and what is he writing?

What CHK HR guy? and what is he writing?

The one who wrote the unusual thing. Duh.

The one who wrote the unusual thing. Duh.

You need to pass the joint

The Strawberry Fields group paid the mortgage in full and thus completely stopped the foreclosure on the old Blumenthal properties.

Would be interesting to know where all that money ($3.6 million) came from so quickly and how the relationship with the previous lender had become so contentious.

I could have sworn this thread was about the pond restaurant in Norman off Ed Noble Pkwy. Wasn't that named the same before the developer threw in the towel?

I could have sworn this thread was about the pond restaurant in Norman off Ed Noble Pkwy. Wasn't that named the same before the developer threw in the towel?

Strawberry Lake, I believe.

Yeah it was Strawberry Lake..... http://www.okctalk.com/showthread.php?t=28951&highlight=strawberry

https://www.zillow.com/homedetails/617-S-Shartel-Ave-Oklahoma-City-OK-73109/21840544_zpid/?utm_source=email&utm_medium=email&utm_campaign=emo-forsalehomereport-forsaleaddress&rtoken=4bc5b201-0d8d-473d-9579-a56b51349931~X1-ZUzv03q9g56eq1_xpn1

It looks like this guy is trying to FSBO a house that is right in the middle of one of the planned residential buildings of this development. How does that work? Would the purchaser be making the purchase in hopes that the developer would pay an even more inflated price? Could the purchaser just hold on the the tiny house which would look out of place? What if the purchaser built a new residence before the develoment occurred?

Sorry, probably simple questions but this isn't something I know much about.

^

Haha... They actually pulled one of the graphics I created.

The first building in this development was to start this summer, the 5-story office and condo building:

http://www.strawberryfieldsok.com/orndale-28/


I have not seen any hint of movement. No permits filed, etc.

Hope it still happens but they have a lot of hoops to jump through before any real work would start.

They made a social media post about a mural on one of their existing building like that's some indication of progress.

One of the lots across 5th street from here just got listed for $1.2MM. An identical lot adjacent to it was bought by the Strawberry Field group about 2 years ago for $800,000.

I feel like if strawberry fields is closest to making something happen, it will be on this little block of parcels. They just paid $1.7MM last month for the corner lot of SW 6th and Walker.

Land value here is getting insane with the park and general expanding of downtown.

^

I'm in the process of updating who owns what in that area west of the park.

It's surprising how little the Strawberry Fields people own in those two blocks closest to the park.

I'll post the graphic a bit later.

I'm amazed how much land is going for in that area. They've got to have a plan, since they're spending so much money.

^

I'm in the process of updating who owns what in that area west of the park.

It's surprising how little the Strawberry Fields people own in those two blocks closest to the park.

I'll post the graphic a bit later.

Yes, I check on this periodically, and I don't see how Strawberry Fields is ever going to happen [as something close to the master plan] with these land costs. And if it does happen, it will have to be insanely expensive to live/rent/business here.

Here is what they have in yellow per the County Assessor:

https://i.imgur.com/z6ZG3lT.png

^

Thanks for posting that.

Yep. they don't many of the properties between Dewey and the park, which is of course the most desirable.

However, they could have deals with some of those property owners to buy or jointly develop.

Took this over the weekend.

The area being cleared at the lower left is owned by Mazaheri; same group that owns the Lumberyard and the old Bodyworks site in Bricktown where the Canopy Hotel development has stalled.

This lot was used for construction vehicles and materials and was a mess. I don't think they are planning anything there in the near future, just doing some cleanup.

http://www.okctalk.com/images/pete/strawberry012019.jpg

Here is another map that shows the Strawberry Fields ownership in yellow and their own development boundary in red.

http://www.okctalk.com/images/pete/strawberry012519.jpg

I know this take is nothing new and I have no insider info but I have a gut feeling they are going to acquire as much land as they can, then package it up and sell it and make a good profit.

I know this take is nothing new and I have no insider info but I have a gut feeling they are going to acquire as much land as they can, then package it up and sell it and make a good profit.

At the prices they're paying, I'm not really sure that's feasible.

I just don't see how the market justifies those prices or how it will justify the future prices... It is so much land, relatively open land.

Most of these lots are people's lottery tickets. Some of them were inherited and held onto. A good chunk exchanged hands in the early 2000s and were bought for just handfuls of thousands of dollars. Bought by smart investors and businesses that saw what was going to happen. Especially with the I-40 realignment knocking on the door.

One of the tiny parcels that Strawberry Fields just purchased for almost $1 million, changed hands just 4 years ago for $270,000. Nice little profit for a vacant slab of land.

^

Very similar to what Chesapeake did under Aubrey McClendon for the better part of a decade.

And ultimately, even after holding them for quite a while, almost all were then sold off for a fraction of what was spent.

^

Very similar to what Chesapeake did under Aubrey McClendon for the better part of a decade.

And ultimately, even after holding them for quite a while, almost all were then sold off for a fraction of what was spent.
More like what he did with leases than real estate.

Looks like the Strawberry Fields group is trying to raise investment money for three different projects; Orndale 28 is the building they had previously announced and said it would start in summer of 2018.

https://www.strawberryfieldsok.com/

http://www.okctalk.com/images/pete/strawberry061519.jpg

Marketplace

http://www.okctalk.com/images/pete/sfmarketplace1.jpg

http://www.okctalk.com/images/pete/sfmarketplace2.jpg

http://www.okctalk.com/images/pete/sfmarketplace3.jpg

http://www.okctalk.com/images/pete/sfmarketplace4.jpg


Lucy

http://www.okctalk.com/images/pete/sflucy1.jpg

http://www.okctalk.com/images/pete/sflucy2.jpg


Orndale 28

http://www.okctalk.com/images/pete/sforndale1.jpg

http://www.okctalk.com/images/pete/sforndale2.jpg

These are great fresh designs. Hope this comes to fruition.

I saw they are looking for a minimum investment of $100k. I tried reaching out last week and haven’t gotten a reply. If you know how I can get in contact with them please let me know Pete. Thanks

Glad to see this gaining some traction. I was driving through some of the streets west of Scissortail Park and it was incredible to see how closed off and ignored that whole area is. Any word on the timeframe of these projects?

I love the Marketplace and Lucy renderings.

:iagree::iagree::iagree:

Love the existing building stock reuse in those Marketplace renderings.

This is a sign that will go up facing the park just to the south of Social Capital.

http://www.okctalk.com/images/pete/strawberryfields091319a.jpg

I messaged them about when these buildings were to start construction and they indicated they are in the works so hopefully they start soon! All of these buildings could be a boon to the area. Perhaps the city could commit matching TIF funds if this development group puts up half to reconstruct every street in this like P180.

I messaged them about when these buildings were to start construction and they indicated they are in the works so hopefully they start soon! All of these buildings could be a boon to the area. Perhaps the city could commit matching TIF funds if this development group puts up half to reconstruct every street in this like P180.

Maybe if Strawberry Fields loans the money to the city like Devon, they can start redoing the streets right away

Is it true that Mick Cornett pushed for this to be renamed Oklahoma City Fields ??

^

Very similar to what Chesapeake did under Aubrey McClendon for the better part of a decade.

And ultimately, even after holding them for quite a while, almost all were then sold off for a fraction of what was spent.

Sorry, addressing an old post here, but CHK+AKM mainly did this in an area they were pioneering that was substantially further away from any area that had momentum and while they certainly did not make their money, there has certainly been success in that area continuing to flourish, in large part thanks to the millions of dollars that were essentially pilfered from stockholders. Actually was a great deal for OKC at, likely, the cost of coastal elites.

Strawberry Fields, is paying substantially more to get in on the renaissance of downtown and urban OKC as a whole. They "found" a niche area probably 3 to 5 years too late, and are paying prices that they should have been paying 3 to 5 years in the future to make a killing off the deals. That being said, the value is absolutely going to be there and doesn't really rest on them propelling a whole area forward almost by themselves. Strawberry Fields has a 9 figure park within walking distance and the best connectivity to the rest of downtown that the area has seen in decades.

It seems like to me what they really need to do is drop the big dollars to buy the park facing land just north of the streetcar facility, and then land swap as much as they can to have 6 to 8 contiguous blocks between Lee/Hudson and 4th/7th as possible.

^

Strawberry Fields and Mazaheri are working together and now do collectively own that land north of the streetcar facility.

Any updates on any of the announced projects here?

I'm starting to think that my only talent is finding old renderings of developments lol. Nonetheless, they give some insight into the general idea/goal of the development.

https://www.callisonrtkl.com/projects/strawberry-fields/

Something like that would be amazing. Even if just the buildings bordering the park.

16084 16085

The second picture is a screenshot from the strawberry fields website. If you look closely you can see that the "Parkside District" actually resembles pretty closely what the rendering shows. I honestly have no idea how old the Callison renderings are but they do show an accurate depiction of the Omni as it was constructed so they're surely somewhat recent.

^

That's a great talent and it's appreciated.

From one of those renderings, this is the property (the SW corner of Hudson and the Boulevard) that Mazaheri and Strawberry Fields are required by the city to develop in the near future. I have heard it will be mid-rise housing.

Although I'm sure this is just broadly conceptual, this will almost certainly be the first property developed and it at least gives a hint of what is to come.

http://www.okctalk.com/images/pete/mazaheri051720.jpg

And then some of these apparently have rooftop pools. If I counted correctly, that building closer to the interstate will have around fifteen floors. The others will be around 12-15 high. Now imagine the future infill for the city just on the other side of the boulevard, possibly a highrise or two. Wow, OKC is gonna be drop-dead gorgeous in fifteen years.

And then some of these apparently have rooftop pools. If I counted correctly, that building closer to the interstate will have around fifteen floors. The others will be around 12-15 high. Now imagine the future infill for the city just on the other side of the boulevard, possibly a highrise or two. Wow, OKC is gonna be drop-dead gorgeous in fifteen years.

If it isn't bankrupt by then.

I would be surprised, better yet shocked if 25% of this property gets developed in the next 10 years.

^I will be shocked at 10%.

Thanks Pete.

This is definitely going to take a long time to develop but given its size and OKC's slow & steady growth trends I wouldn't be shocked if its somewhere between 10-20% developed in 10 years. To me that's fine because good things take time. The biggest draw imo is its location. Walking distance from Scissortail, Myriad Gardens, Omni, Convention Center, The Peake, West Village Area, and the CBD.

I did more digging and it looks like this is in fact the current masterplan.
( https://www.strawberryfieldsok.com/our-vision )

Is it just me or does this seem like a massive money laundering scheme? Maybe I've been watching too much Ozark...