Preliminary plans reveal the intention to convert a key Bricktown Canal property into an events center.


http://www.okctalk.com/images/pete/falls120216a.jpg

http://www.okctalk.com/images/pete/falls120216c.jpg


The Falls Event Center based in Salt Lake City have filed drawings that show a 3rd level being added to the existing 2-story structure at 108 E. California and a waterfall that would be at the basement / canal level.

Renderings also indicate a large outdoor terrace facing the canal and new Oklahoma-themed murals on the eastern wall, a highly visible facade that currently features plain paint and for sale signs.

The building is currently owned by Gary Cotton who declined comment when reached by phone. OKCTalk has learned this property is under contract for sale, presumably to The Falls group.

The existing structure was last home to Margarita Mama's but has been vacant for a decade. It features two levels of 7,000 square feet each and the same amount of area in the basement.


http://www.okctalk.com/images/pete/falls120216.jpg


Several years ago, Cotton sold the property to the immediate east which is now home to miniature golf and Brickopolis.

Cotton had originally planned an ambitious mixed-use project called the Cotton Exchange but could not obtain financing and ultimately put the properties on the market.

To the immediate west of 108 E. California is the Kingman Building, which is home to Yucatan Taco Stand, Bourbon Street Cafe and offices. Directly across the canal, Miracle pop-up bar is occupying the old Captain Norm's space which will become the permanent Plundr bar in early 2017.


http://www.okctalk.com/images/pete/falls120216d.jpg


Further West, the owners of the Case Plow Building (http://www.okctalk.com/showthread.php?t=42542) recently revealed plans for a major renovation and just to the west of that, the Santa Fe Station (http://www.okctalk.com/showthread.php?t=28128) is being renovated into a multi-modal transportation hub which will include direct access to the canal area upon completion of a new tunnel and plaza.

Just to the south and west, The Plow Building (http://www.okctalk.com/showthread.php?t=13938) has recently completed a comprehensive renovation and is filling with office tenants with at least one restaurant planned as well.


http://www.okctalk.com/images/pete/falls120216g.jpg


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http://www.okctalk.com/images/pete/falls120216i.jpg

I'm going to say that faux waterfalls covering the canal-level in Bricktown are probably not code-compliant. That said, I'm sure they'll get a variance, when you consider everything else that's cheesy, non-compliant, approved and/or existing.

Otherwise looks like a great project. I like these event center concepts bc they aren't necessarily tied to set operating hours, which is a challenge in a district like Bricktown, where it's either full-throttle busy or totally dead. Without set hours they're more flexible and likely to bring in crowds off-peak... whatever that may be in OKC... prayer lunches, corporate gatherings, office holiday parties, Bishop McGuinness birthdays, etc etc.

^^^^^^^
This establishment would also include a regular-hours restaurant component. I'm not going to get into other items as Steve filed a story last week due for publication on Tuesday that fills in other details and includes interviews.

He went ahead and posted it online this afternoon. Here are some additional details: http://newsok.com/article/5529604?utm_source=NewsOK.com&utm_medium=Social&utm_campaign=NIC-Twitter

Interesting... I don't really like the use. Private event venue with a sandwhich shop? Yawn.

This would be the sandwich shop, Even Stevens:

http://evenstevens.com/


Open for breakfast/coffee, lunch and dinner and serves beer.

http://entertainment.sltrib.com/img/uploads/articles/article58294198_565859.jpg

Interesting... I don't really like the use. Private event venue with a sandwhich shop? Yawn.

Sandwiches are at least marginally healthier than burgers that are aplenty in the state. Plus, it's a chain that I don't believe is currently in the state, which I think is good. People from out West visiting OKC may be excited to see this (I don't know anything about it, these are just assumptions) as something familiar for them. And as more people begin to live immediately in and around downtown and related districts, this venue could have steady clientele.

But, did I read correctly that the last time this building was occupied was 2002? So I don't think we can be too picky here. I'm glad it's going to be renovated and made into something and wish the owners success. Better than nothing.

It's a $10 million renovation. This thing is going to be top notch.

There are nothing but glowing reviews on Yelp for The Falls Salt Lake City.

I like it. Not enough low-cost fast-casual type lunch options in Bricktown; especially north of Reno. The charity component makes it nice too. The upper floor event space to me is not much different than office; and honestly event space is somewhat lacking right now believe it or not.

I like it also.

But i have a serious question, is there still intention of the golf coarse to be developed? I ask because if so this 'could' impact what might be approved since the 'falls' would have been first and might object to a -say- 12 floor hotel that would likely wipe away the views of the 3rd floor addition/rooftop.

I like it also.

But i have a serious question, is there still intention of the golf coarse to be developed? I ask because if so this 'could' impact what might be approved since the 'falls' would have been first and might object to a -say- 12 floor hotel that would likely wipe away the views of the 3rd floor addition/rooftop.

The Golf course is already there.

They can protest all they want, but if this imagined hotel comes to fruition, their protest is null. If something fits in the development guidelines and can be built, then that's the way that it is.

Anybody who owns anything downtown – from single-family home owners all the way up to Devon and everyone in between – needs to understand that if they want to maintain "a view" then they are obliged to buy whatever lots that could potentially be developed to block said view and develop those lots themselves. Whoever eventually buys up the mini-golf course lot and develops it should not be counting how their next-door neighbor's view is affected among their top 5 concerns.

I like it also.

But i have a serious question, is there still intention of the golf coarse to be developed? I ask because if so this 'could' impact what might be approved since the 'falls' would have been first and might object to a -say- 12 floor hotel that would likely wipe away the views of the 3rd floor addition/rooftop.

It seems like they are betting on a hotel not going in anytime soon given the amount of money they are spending on that side of the building.

I like it also.

But i have a serious question, is there still intention of the golf coarse to be developed? I ask because if so this 'could' impact what might be approved since the 'falls' would have been first and might object to a -say- 12 floor hotel that would likely wipe away the views of the 3rd floor addition/rooftop.

I'm not so much worried about that, but it DOES prevent this building coming down in order to build a larger new development. The Cotton Exchange was going to include this building's footprint. The smaller lot with the mini-golf course is tiny, really. It will make it hard for anything substantial to go on that corner.

But i do like this project for all the reasons previously stated.

It seems like they are betting on a hotel not going in anytime soon given the amount of money they are spending on that side of the building.

I would think they would love for a hotel to go in next to them. That would certainly benefit their event space.

I'm not so much worried about that, but it DOES prevent this building coming down in order to build a larger new development. The Cotton Exchange was going to include this building's footprint. The smaller lot with the mini-golf course is tiny, really. It will make it hard for anything substantial to go on that corner.

But i do like this project for all the reasons previously stated.

I'll take the smaller lot to retain more historic building fabric. And that lot is plenty large enough for even a 10-12 floor development, ESPECIALLY assuming the current Brickopolis building would be incorporated into the development as a "front door."

I'll take the smaller lot to retain more historic building fabric. And that lot is plenty large enough for even a 10-12 floor development, ESPECIALLY assuming the current Brickopolis building would be incorporated into the development as a "front door."
Agree. That space is more than adequate size for a hotel. I wonder what the possibility would be of making an inlet in the space just south of Brickopolis for cars to pull up to for such a hotel. If so, they could put a bell station there for hotel employees to take luggage and park cars.

Actually Brickopolis was designed specifically to itself serve as the drop-off for whatever ends up on that corner lot. This could either be via a sheltered drop-off in the existing Brickopolis parking area (with a pedestrian bridge) or a vehicular bridge wherein you would drive under Brickopolis across a bridge, and into a turnaround or circle or whatever, before being returned either under the building or into the alley. The design was pretty clever in this regard.

And make no mistake, if the corner were developed the owner of the land (and Brickopolis) would willingly if not enthusiastically part with the existing building. All of this was designed to give the corner (currently housing the mini golf) a front door on Mickey Mantle rather than on the alley. I've explained this over the years but I think people won't get it until they see a drawing of some sort.

Actually Brickopolis was designed specifically to itself serve as the drop-off for whatever ends up on that corner lot. This could either be via a sheltered drop-off in the existing Brickopolis parking area (with a pedestrian bridge) or a vehicular bridge wherein you would drive under Brickopolis across a bridge, and into a turnaround or circle or whatever, before being returned either under the building or into the alley. The design was pretty clever in this regard.

And make no mistake, if the corner were developed the owner of the land (and Brickopolis) would willingly if not enthusiastically part with the existing building. All of this was designed to give the corner (currently housing the mini golf) a front door on Mickey Mantle rather than on the alley. I've explained this over the years but I think people won't get it until they see a drawing of some sort.

Do you think the chances of a development coming on the mini golf lot are improving? I think a hotel would crush it on that lot.

^^^^^^^^^
The owner has entertained several offers already, but he's happy enough with the present performance of Brickopolis and the mini golf in particular that he feels he can/should be very selective about the deal he takes. It WILL be redeveloped. The question is whether that happens a year from now, or three, five or ten years from now. I'm guessing it's somewhere between three and five.

So... 4 years. ;)

Actually Brickopolis was designed specifically to itself serve as the drop-off for whatever ends up on that corner lot. This could either be via a sheltered drop-off in the existing Brickopolis parking area (with a pedestrian bridge) or a vehicular bridge wherein you would drive under Brickopolis across a bridge, and into a turnaround or circle or whatever, before being returned either under the building or into the alley. The design was pretty clever in this regard.

And make no mistake, if the corner were developed the owner of the land (and Brickopolis) would willingly if not enthusiastically part with the existing building. All of this was designed to give the corner (currently housing the mini golf) a front door on Mickey Mantle rather than on the alley. I've explained this over the years but I think people won't get it until they see a drawing of some sort.

Thanks for the info. I've always thought that would be a great location for a hotel.

Glad to know he's being selective and not just taking the first good offer. That's a true community steward.

Bricktown building to become event center

By: Molly M. Fleming The Journal Record December 14, 2016

OKLAHOMA CITY – The Falls Event Center wasn’t supposed to be in Bricktown.

Corporate General Manager John C. Neubauer said the Utah company’s retail consultant was staying in Bricktown while trying to find a suburban site for an Oklahoma City event space.

Then the consultant saw the real estate sign on the 108 E. California Ave. building. It sits on the north side of Reno Avenue, with a tan wall facing east.

Neubauer said the company expects to buy the building in January. It will return to the Bricktown Urban Design Commission for design approval in February. Neubauer said The Falls is spending about $10 million on the project, which includes purchasing the building. It will not seek historic tax credits.

During Wednesday’s Bricktown meeting, Pontis Architectural Group architect Alan Shurtliff presented the planned renovations to the commission. Neubauer said it was important to the group to work with the city on its plan.

The renovation calls for a glass-enclosed area on top of the building. There will be several rooms inside the building, ranging in capacity size from 50 people to 300 people.

Neubauer said The Falls will not have an on-site caterer. Customers can bring their own catering, or choose from a provided list. There’s no additional fee if someone does not choose from the list, he said.

“We only have the list in the event that the guest asks for help,” he said.

The building stretches down to the canal level, where a waterfall is being built. Engineer Tim Johnson said he is working with the city’s parks department on the water installation.

Before any interior renovation can start, the building needs some structural work. Structural steel will be installed to help provide support, said Shurtliff.

“It’s a non-reinforced brick building,” he said. “We’re in full understanding of that. This building right now could not meet any kind of occupant code.”

Shurtliff said there are also plans to put bricks on the east-side wall. Neubauer said The Falls will work with the Bricktown Association on getting a mural on the east wall as well.

Commissioner and longtime Bricktown business owner Avis Scaramucci said the building is an eyesore. She said previous occupants have not stayed long.

The basement level will not have an occupant at this time. It was previously announced that the Even Stevens sandwich shop would fill some of the space, but Neubauer said those plans have changed. He said the company’s due diligence found that Bricktown was not an ideal place for its business.

Neubauer said The Falls will open in 2018.

Ugh:


The basement level will not have an occupant at this time. It was previously announced that the Even Stevens sandwich shop would fill some of the space, but Neubauer said those plans have changed. He said the company’s due diligence found that Bricktown was not an ideal place for its business.

^ What are we to think of that? Perhaps the turnover of restauarants in the district is what scared them off?

I don't know but that's a major bummer because it means the facility will see little life other than evenings and not have an open-to-the-general-public element.

Maybe they could pitch the space to firehouse subs.
Never eaten one, but my son in Mobile swears they make some fine sandwiches.

Are they going to try to find an alternate tenant or just leave the space empty/integrate it with the event space?

I don't blame them. Basement (canal) level for a quick serve sandwich shop isn't probably the best idea. Part of quick serve sandwich shops main clientele are workers/businessmen with a short lunch break. It needs to be at street level.

I don't blame them. Basement (canal) level for a quick serve sandwich shop isn't probably the best idea. Part of quick serve sandwich shops main clientele are workers/businessmen with a short lunch break. It needs to be at street level.

Yea, and I can see this as being lesser of an issue when the Santa Fe station overhaul is completed, opening up additional avenues for access between the canal and street/CBD.

$2.1MM sale closed today.

Nothing happening yet but really looking forward to this project as it's highly visible,

http://www.okctalk.com/images/pete/falls021917.jpg

Sign is up on the property.

http://www.okctalk.com/images/pete/falls070917.jpg

Looks like there may be some issues.

http://newsok.com/falls-event-center-project-in-bricktown-on-hold-amid-lawsuits-sec-inquiry/article/5577393

Looks like there may be some issues.

http://newsok.com/falls-event-center-project-in-bricktown-on-hold-amid-lawsuits-sec-inquiry/article/5577393

Well, thats a bummer. Based on that reading, this thing is going to be parked at the terminal somewhere between long term to indefinite.....

I suspect they will end up selling this property, hopefully sooner rather than later.

They have completely withdrawn their Bricktown design review application.

I'd be very surprised if they don't put this property on the market sometime soon.

It looks as though it is already listed (http://www.loopnet.com/Listing/108-E-California-Ave-Oklahoma-City-OK/11150909/).

It looks as though it is already listed (http://www.loopnet.com/Listing/108-E-California-Ave-Oklahoma-City-OK/11150909/).

Yep.

Bought 1/6/17 for $2,150,000; now listed for $2.576,948 (that's a very precise #!).

Margarita Mama's lives on!!! It will never die!

The seller carried the mortgage on the property, and is now foreclosing. If Cotton Investment Co. buys it back from the Sheriff sale for the judgement amount, they basically made $430,000 and are in the same boat as a year or so ago.

Key Bricktown building facing foreclosure (http://www.okctalk.com/content.php?r=493-Key-Bricktown-building-facing-foreclosure)

After bold plans by Falls Events Center seem to have fallen through, the building they purchased at 108 E. California on the Bricktown Canal has fallen into foreclosure.


http://www.okctalk.com/images/pete/falls042618c.jpg


The prominent building had been vacant for quite some time when the Utah-based event facility operator purchased it in early 2017 for $2.125 million.

The Falls then presented ambitious $10 million design plans to the Bricktown Urban Design Committee that stalled after commissioners balked at an elaborate waterfall planned for the canal level, then completely stopped as the company and its CEO found itself in legal troubles.

In March, the previous owner Gary Cotton filed a foreclosure action against The Falls for non-payment for the months of November, December and January. Court records show Cotton took back a $1.72 million promissory note when he sold the property.

The suit filed by Cotton is attempting to collect $1,708,072.68 and regain full ownership of the property he had first purchased in 2004.

In December, Falls general manager John Neubaurer told the Oklahoman that the Oklahoma City project was on hold but that he expected “to be in a position where we can get back up and start up all projects”.


http://www.okctalk.com/images/pete/falls042618.jpg


However, at the time of that interview The Falls had already missed 2 mortgage payments and proceeded to miss the next several owed to Cotton.

Also, the Bricktown property is currently listed for sale for $2.577 million by a Utah broker who is also attempting to sell at least 10 other properties owned by The Falls.

Meanwhile, the legal troubles for The Falls and their CEO Steve Down continue, with reports of missed payments at other businesses while Downs continues to defend allegations about various business dealings which include SEC investigations and claims of Ponzi schemes.


http://www.okctalk.com/images/pete/falls042618b.jpg

Event center CEO facing SEC charges of fraud following collapse of Bricktown project (https://newsok.com/article/5594399/event-center-ceo-facing-sec-charges-of-fraud-following-collapse-of-bricktown-project)


Steven Down, a Utah entrepreneur who once planned to develop a $10 million event center along the Bricktown Canal, is being hit with federal charges that he defrauded dozens of dentists who invested millions on the false premise that his business was profitable.

Considering the Feds win 99% of cases, this guy is toast.

They were lying to the Oklahoman last year.

Saying 'all is well; we'll still move forward' but had already stopped making payments for the Bricktown and now have 10 or so Falls properties up for sale.

They were lying to the Oklahoman last year.

Saying 'all is well; we'll still move forward' but had already stopped making payments for the Bricktown and now have 10 or so Falls properties up for sale.

Any ballpark guess as to how long this building could be tied up while the case is settled? Seems like this place is cursed. You'd think it would be in high demand due to the location, but seems as if the opposite is true.

Securities and Exchange Commission v. The Falls Event Center, LLC and Steven L. Down, No. 2:18-cv-00382 (D. Utah, May 10, 2018)

On May 10, 2018, the Securities and Exchange Commission filed a complaint in the U.S. District Court for the District of Utah against The Falls Event Center, LLC (The Falls), a Utah limited liability company, and its CEO Steven L. Down of West Jordan, Utah (Down) for making material misrepresentations to investors concerning the profitability of certain of The Falls' event centers.

As alleged in the SEC's complaint, The Falls builds and operates small event centers. Since 2011, The Falls and Down raised approximately $120 million from more than 300 investors from the offer and sale of, among other things, convertible secured promissory notes. According to the complaint, Down solicited investments in The Falls by making presentations to groups of professionals during continuing education seminars that he sponsored. In his presentations, Down represented that some or all of the event centers were and continued to be profitable. The complaint alleges that certain of these representations to investors were untrue.

According to the complaint, from the first half of 2016 forward, members of The Falls' executive team informed Down that the event centers were not profitable. In addition, they informed Down that his event center model was unsustainable because of the millions of dollars owed to investors and to the event center mortgage holders.

In addition, The Falls' own accounting records, which Down received regularly from the Falls' CFO, indicate that, from inception through September 2017, the event centers were never profitable.

Without admitting or denying the SEC's allegations, The Falls and Down have consented to the entry of a final judgment permanently enjoining them from future violations of Sections 17(a)(2) of the Securities Act of 1933. Down has also agreed to pay a civil penalty of $150,000.

The SEC's investigation was conducted by Scott Frost, Alison Okinaka and Cheryl Mori of the Salt Lake Regional Office, and the litigation will be led by Amy Oliver and Daniel Wadley.

Gary Cotton has filed for final judgment in his foreclosure effort against The Falls.

The company has not bothered to respond the foreclosure petition filed in April, and if they don't respond to the latest filing, the court will likely return the property to Cotton, who sold it to The Falls but carried the mortgage.

This is on the foreclosure docket for 10-19. Appraised at $1.9M. 2017 property tax of about $22K is unpaid as well.

7-story boutique hotel planned for Bricktown Canal (https://www.okctalk.com/content.php?r=986-7-story-boutique-hotel)

Plans have been submitted to add a 5-story addition atop a historic structure at 108 E. California along the Bricktown Canal.


http://www.okctalk.com/images/pete/cotton091223e.jpg


The building has been vacant for years and was recently taken back by the owner Gary Cotton after ambitious plans for an event center collapsed.

The latest plans call for a boutique hotel with a rooftop pool partially cantilevered towards the canal and offering panoramic skyline views. Adjacent to the infinity pool would be cabanas and a bar and lounge.

There would also be a spa, cafe/juice bar and patio at canal level, a bar and lounge on the main level, and a 1,000 square foot presidential suite on the top floor.

There would be a total of 60 rooms.





http://www.okctalk.com/images/pete/cotton091223f.jpg


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http://www.okctalk.com/images/pete/cotton091223d.jpg

If this thing happens if will be awesome !

Here's hoping this is a realistic proposal because this looks like a great addition to upper Bricktown.

The views from there would be killer.

The canal needs more of these types of projects. You'd think any hotel there would kill it and at the same time there would be associated bars/restaurants on the water.

This is AWESOME! Great great great use! Takes up an unused building. Adds to it. Canal level interaction. More hotel rooms. This is a spot on development! Love it!

The hotel building looks great! Love the idea of an infinity pool hanging out over the canal area. What's with the blank wall next to it? Surely they aren't tearing down the building next door. Is it just a lazy rendering?

How far along in the process is this? Are these going to a council or committee?

How far along in the process is this? Are these going to a council or committee?

Submitted to Bricktown design review; will be on the 10/11 agenda.

Submitted to Bricktown design review; will be on the 10/11 agenda.

Nice! Good deal, and would help the canal have more life!

I love this project! So exciting to see the efforts of bringing more height to Bricktown with this and the Boardwalk project.

Connectivity and interaction with the canal... plus more height in Bricktown!? YES PLEASE!