View Full Version : REHCO / Former Downtown Ford site
Pages :
1
2
3
4
5
6
7
8
9
[ 10]
Just the facts 05-21-2023, 08:11 AM If Randy Hogan can pull off building four 24-26 story high rises between a railroad track and a Uhaul storage, you can't tell me nothing can't work right now for this Ford site.
I think this is an exact illustration of the problem OKC is facing right now. It took four 24 story buildings and 26 years to nudge out parking.
If Randy Hogan can pull off building four 24-26 story high rises between a railroad track and a Uhaul storage, you can't tell me nothing can't work right now for this Ford site.
I'm sure lots of things can work in that piece of land, but if they aren't what the owners want to see there, they won't happen. If the owners want to build the tallest building in OKC, designed by Renzo Piano or Norman Foster there we have to wait then because it's their land, their dream, their pride, and their plan. If I have a piece of land, I know if I build a self-storage facility, I'll can sell it and make a quick profit, but I don't want that, I think it's better for the neighborhood, and the city if I build a mixed-use there, and if it isn't the right time, I'll sit on that land and wait (to do the right thing).
Just the facts 05-21-2023, 09:10 AM I'm sure lots of things can work in that piece of land, but if they aren't what the owners want to see there, they won't happen. If the owners want to build the tallest building in OKC, designed by Renzo Piano or Norman Foster there we have to wait then because it's their land, their dream, their pride, and their plan. If I have a piece of land, I know if I build a self-storage facility, I'll can sell it and make a quick profit, but I don't want that, I think it's better for the neighborhood, and the city if I build a mixed-use there, and if it isn't the right time, I'll sit on that land and wait (to do the right thing).
See, that is where the difference in philosophy comes in. The taxpayers have a bigger vested interest in the property than the owner does.
If downtown vacant property owners came out against all the tax dollars spent then they could say yes, the property value went up, but it was against their will. But they didn't.
Taxpayers invested a lot of money to improve the likelyhood that these properties would get developed, add to the tax base, provide housing, provide urban amenities, and otherwise increase the quality of life. Taxpayers didn't do it for this land to sit unused.
MAPS was a great catalyst to get the ball rolling but every developer that bought into it has already acted in good faith. It is now the holdouts that need to be proded.
I seriously doubt Hall Capitol is sitting on some shovel ready grand plan that they are just waiting for the economics to be right and then spring it into action. We are leaving years of low interest rates, easy money, and high demand for downtown housing. It isn't going to get any better than it has been. The ship sailed and they didn't get on.
See, that is where the difference in philosophy comes in. The taxpayers have a bigger vested interest in the property than the owner does.
If downtown vacant property owners came out against all the tax dollars spent then they could say yes, the property value went up, but it was against their will. But they didn't.
So, if your HOA wants to raise the fee to build a playground, swimming pool, new walls, and have better landscaping, you agree the extra fee, because that will add value to your property, say an empty lot, it's your responsibility to build something, even a 1 B/1B there, so it's no long an vacant lot to please your neighbors or the mailman? What if you don't want a 1B/1B, but you can't afford anything more than that right now?
The owners are lucky, they bought the right piece of land, that's it. You can make this city better by filling up all the smaller holes in Plaza, Uptown, Midtown, Paseo, etc. which are much less risky, and you know you can do it easily.
Rover 05-21-2023, 09:45 AM See, that is where the difference in philosophy comes in. The taxpayers have a bigger vested interest in the property than the owner does.
If downtown vacant property owners came out against all the tax dollars spent then they could say yes, the property value went up, but it was against their will. But they didn't.
Taxpayers invested a lot of money to improve the likelyhood that these properties would get developed, add to the tax base, provide housing, provide urban amenities, and otherwise increase the quality of life. Taxpayers didn't do it for this land to sit unused.
MAPS was a great catalyst to get the ball rolling but every developer that bought into it has already acted in good faith. It is now the holdouts that need to be proded.
I seriously doubt Hall Capitol is sitting on some shovel ready grand plan that they are just waiting for the economics to be right and then spring it into action. We are leaving years of low interest rates, easy money, and high demand for downtown housing. It isn't going to get any better than it has been. The ship sailed and they didn't get on.
So, you are saying the taxpayers should control the property and make the decisions about use, scale, level of investment etc. The owners then should be the financiers and the property managers? Good luck with that concept. Who has the say for the taxpayers? You? The city? Your “party”? The competitors? The readers of this board?
So, for your solution the “state” should own and control the properties on behalf of the people. Sounds a whole lot like central planning. I’ve seen first hand with how that works around the world. Careful that you get what you are fantasizing about.
Just the facts 05-21-2023, 01:04 PM Oski - HOA's do exactly as you just mentioned. It is literally their prinary responsibility. They increase property values for everyone by punishing those at the bottom and maintaing amenities for the common good. Here in Florida you pay the new fee or incur the penalty, which can now be the HOA taking your house from you instead of just a fine.
Rover, the City Council is the entity responsible for being good stewards of the funds entrusted to them. It is ultimately up to them to decide.
Oski - HOA's do exactly as you just mentioned. It is literally their prinary responsibility. They increase property values for everyone by punishing those at the bottom and maintaing amenities for the common good.
Rover, the City Council is the entity responsible for being good stewards of the funds entrusted to them.
I'd suggest that you should try to build something small, a house, or a gas station, to learn all the ins and outs of RE development and realize that it's a crime to be careless, thoughtless with other people's money. SimCity is the only place you can build and knock down something fast and free.
Just the facts 05-21-2023, 02:02 PM Well, I've said my peace for now so I'll give someone else the last word.
HOT ROD 05-21-2023, 03:13 PM Guys, many cities have prime lots that sit vacant for years/decades. Here in Seattle, there is a square block that I believe used to house the original Seattle CIty Hall - that has been vacant for at least a decade or two. the site is right across the street from Seattle's tallest building and all around it are fully developed. there have been plans to build but nothing has panned out, despite construction in the northern part of downtown and south lake union courtesy of Amazon.
What I'm saying is, sometimes these prime sites sit for a while so the right development can be worked out. OKC has a couple of notable sites but that's a good thing to have. My only issue is as many have said, can they at least clean up and/or restrict the site? The city could get behind this and require them to clean it up; at least like Stage Center (oh grief) has been "integrated" into the city until it can be developed.
Bits_Of_Real_Panther 06-14-2023, 08:49 AM Sometimes that east west road splitting the blighted lots will have overlooked available street parking. For people who don't want to pay to park at street meters or pay lots.
How long is this structure supposed to be in use?
SEMIweather 06-14-2023, 09:34 AM Sometimes that east west road splitting the blighted lots will have overlooked available street parking. For people who don't want to pay to park at street meters or pay lots.
All of the streets in the Strawberry Fields area are always empty as well, and only a five minute walk from the park. Not sure I'd park there at night but I've never had an issue during daylight hours.
therhett17 06-14-2023, 12:16 PM Is this parcel of land called the Ford site because it used to be a Ford dealership? Or why exactly?
Is this parcel of land called the Ford site because it used to be a Ford dealership? Or why exactly?
Yes.
Was Bob Howard Ford and before that I believe it was Fred Jones Ford.
Urbanized 06-14-2023, 02:37 PM It was Fred Jones Ford from 1923 until 1998, when it became a part of the Fred Jones Auto Collection, which included Ford Motor Company and other dealers. In 2000, Ford Motor Company exercised its buyout option and sold off the various dealerships. The downtown Ford store was then purchased and renamed Bob Howard Ford, which itself closed around 2010.
dankrutka 06-14-2023, 02:45 PM Wow, I'm surprised it's been sitting for 13 years as a surface lot. I didn't think it had been that long.
Urbanized 06-14-2023, 02:47 PM Well, 12 years. Demolished in 2011.
sroberts24 06-14-2023, 08:24 PM If we do get the Olympic events, do you think they will speed up the development of this lot?
What REHCO (mainly Bob Howard but also Hall Capital has an interest) owns is shown below in red.
There is a private party that owns the one remaining commercial lot, but all that frontage along the OKC Boulevard is owned by the City or State.
When there were negotiations over this site for the convention center, the City was going to close all those internal streets and incorporate them into the larger site. If/when this site is developed, the same thing would probably happen, so you can see about half of this land is owned by a government body, and the City controls what happens there.
HTTP://www.okctalk.com/images/pete/rehco020224a.jpg
G.Walker 02-02-2024, 08:45 AM So why all of a sudden for the bump, when the thread has been quiet for years? Something about to happen?
So why all of a sudden for the bump, when the thread has been quiet for years? Something about to happen?
Yes, there was a report by Channel 9 that this site is being considered for the new arena.
Read the new arena thread for details.
|
|