Me too EtanEiko!!!!

Just hope these get built. Quite a few downtown projects have been stuck in mud.

Just hope these get built. Quite a few downtown projects have been stuck in mud.

And literally hundreds if not thousands have been completed.

And literally hundreds if not thousands have been completed.

Not being negative. Just that Alley's End and Boulevard Place, both of which are truly transformational for their corners, have been stuck in neutral for a long, long time. Not saying others haven't been completed, but large projects take time. And time equals money (see Boulevard Place constantly asking for more TIF funding). And especially with something like this being almost foreign to OKC (truly high-rise housing), the risks are greater.

I believe all will get built, but I'm tempering my enthusiasm until ground is broken.

^

We're still dealing with the profound effects of a completely unprecedented pandemic. Fixating on a couple of apartment complexes when dozens and dozens of similar projects have been recently built and many other projects are well underway is incredibly negative.

It's not always easy to spot posters who HAVE financed and/or completed (or even been tangentially connected to) a project costing millions of dollars (there have been a few on this board over the years), but it's often pretty easy to spot the ones who haven't.

It's bizarre to have all this negative talk when the whole subject of this thread is an incredible 4-tower development that continues to move forward at a fast pace.

At the same time, we have Convergence, OKANA, Citizen, and Oak all moving very quickly, Muse just opened while directly across the street another big complex is starting, Page Woodson is well into its 4th phase, and big complexes are just finishing at The Half and Chisholm Creek.

If and when the Boardwalk gets rolling we will soon be in arguably the biggest construction boom in city history... Even more so if the plans get green-lit for a billion-dollar arena.

It's bizarre to have all this negative talk when the whole subject of this thread is an incredible 4-tower development that continues to move forward at a fast pace.

At the same time, we have Convergence, OKANA, Citizen, and Oak all moving very quickly, Muse just opened while directly across the street another big complex is starting, Page Woodson is well into its 4th phase, and big complexes are just finishing at The Half and Chisholm Creek.

If and when the Boardwalk gets rolling we will soon be in arguably the biggest construction boom in city history... Even more so if the plans get green-lit for a billion-dollar arena.

I too don't get the negativity. Renderings haven't even been released yet, and people are already on the way to calling for it to be changed. Right now, the only thing that concerns me is interest rates and where commercial real estate is heading in the country. But Pete is right, we're in the midst of a huge construction boom. And he only listed a few of them.

Misery loves company, I'm happy with progress moving this fast at such a large scale. Keep up the pace, OKC.

Any updates? I'm really anxious to see renderings. However, I'm fearful that the higher interest rates as well as other economic factors might put this on the backburner.

I believe the next step would be submitting detailed plans for design review. I doubt we'll see anything new until then.

The good news is they say they are anxious to get started, so hopefully we won't have long to wait.

I believe the next step would be submitting detailed plans for design review. I doubt we'll see anything new until then.

The good news is they say they are anxious to get started, so hopefully we won't have long to wait.

Their confidence and desire to move forward with this large of a project has been very encouraging from the start and makes them stand out. This has been planned with such excellence so I agree, we're probably getting detailed plans soon (and I imagine they'll be spectacular)

I believe the next step would be submitting detailed plans for design review. I doubt we'll see anything new until then.

The good news is they say they are anxious to get started, so hopefully we won't have long to wait.

That's great to hear! We are so spoiled on this forum with the information you provide. The average person won't know anything is happening here until they see the cranes.

The first post in this thread is from 2021.These things take time. There are hundreds of millions of dollars at stake, so it makes sense. The waiting is still the hardest part but I hope and think we will soon be rewarded for our patience. Excited to be able to witness what will arguably be the biggest construction boom in city history.

They were approved for their $200M TIF funds. And heard from a very-very close source, now that the TIF funds are a go, this is going to really move now.

I wonder how long until we get the submissions for design review.

Or will we get an additional TIF request first?

I wonder how long until we get the submissions for design review.

Or will we get an additional TIF request first?

Just a few posts down Pete says not long. And we already know they asked and got approved for the TIF.

Just a few posts down Pete says not long. And we already know they asked and got approved for the TIF.

I know, but with how everyone is claiming things get more expensive by the day, it won't surprise me if they try asking for more, even before we see what it will look like.

Im a little surprised they didn't have a glossy rendering yet but at least they have a conceptual model and location; we know it will be 4 towers, 28 floors each (or more), with 3 residential and 1 dream hotel; for a total of more than $7XX million. ... Wish the arena would at least be this transparent.

. Wish the arena would at least be this transparent.
Total apples and oranges.

any updates? It's been a month since this thread was active.

I may be misunderstanding the legalese, but my understanding is the TIF agreement was finalized by the City Council this morning. I assume with that in place we may finally see movement on the plans for this development.

I may be misunderstanding the legalese, but my understanding is the TIF agreement was finalized by the City Council this morning. I assume with that in place we may finally see movement on the plans for this development.

That would be some great news. They are moving so quickly with this.

I may be misunderstanding the legalese, but my understanding is the TIF agreement was finalized by the City Council this morning. I assume with that in place we may finally see movement on the plans for this development.

Final approval of the Economic Development Agreement ..

.

https://static.wixstatic.com/media/6f20dd_7768f243bbcb49c18aa45a64bdfbce8e~mv2.jpg/v1/fill/w_775,h_775,al_c,q_85/6f20dd_7768f243bbcb49c18aa45a64bdfbce8e~mv2.jpg

The incentive package will provide 90% of the ad valorem tax generated by the development over the 25-year life of the TIF with a cap at $200 million, as well as reimbursement of sales tax and use tax generated during construction capped at $5.5 million.


The development is estimated to cost more than $736 million, but the incentives are based on $550 million, which is the total less the 348-room Hyatt Dream Hotel and related components. The project lies in the no-subsidy zone under an agreement with Omni Oklahoma City Hotel that prohibits tax incentives for any other hotel for 15 years.--Journal Record, December 5, 2023

Three apartment towers will provide 924 units, The development is estimated to cost more than $736 million, but the incentives are based on $550 million, which is the total less the 348-room Hyatt Dream Hotel and related components. The project lies in the no-subsidy zone under an agreement with Omni Oklahoma City Hotel that prohibits tax incentives for any other hotel for 15 years.

Looking at the inflation factor, if you compare this to OKANA development--it ballooned from $300 million to $400 million--25% inflation.

The pace of this development is picking up.



.

.

https://static.wixstatic.com/media/6f20dd_7768f243bbcb49c18aa45a64bdfbce8e~mv2.jpg/v1/fill/w_775,h_775,al_c,q_85/6f20dd_7768f243bbcb49c18aa45a64bdfbce8e~mv2.jpg

The incentive package will provide 90% of the ad valorem tax generated by the development over the 25-year life of the TIF with a cap at $200 million, as well as reimbursement of sales tax and use tax generated during construction capped at $5.5 million.



Three apartment towers will provide 924 units, The development is estimated to cost more than $736 million, but the incentives are based on $550 million, which is the total less the 348-room Hyatt Dream Hotel and related components. The project lies in the no-subsidy zone under an agreement with Omni Oklahoma City Hotel that prohibits tax incentives for any other hotel for 15 years.

Looking at the inflation factor, if you compare this to OKANA development--it ballooned from $300 million to $400 million--25% inflation.

The pace of this development is picking up.



.

It better, or they will.come back asking for more TIF funds to counteract the rise in costs. Lol

I get so excited seeing that sketch again, even though it's 2 years old, cause you can already see how wildly different this is than any other high rise development in OKC. The BALCONIES... *sigh* lovely.

In all honesty, I've been worried about this project. Mainly due to issues with interest rates and the commercial real estate market. Any news of progress is much welcomed. Hopefully we see the official renderings sooner, rather than later.

In all honesty, I've been worried about this project. Mainly due to issues with interest rates and the commercial real estate market. Any news of progress is much welcomed. Hopefully we see the official renderings sooner, rather than later.

The longer this drags on, the more money they will come back and ask for. Tale as old as time. I'd love for one of these projects to prove me wrong. Boulevard Place, Alleys End, this one, all have been delayed constantly, leading to repeat TIF requests.

It better, or they will.come back asking for more TIF funds to counteract the rise in costs. Lol
Yes, so you keep saying.

The longer this drags on, the more money they will come back and ask for. Tale as old as time. I'd love for one of these projects to prove me wrong. Boulevard Place, Alleys End, this one, all have been delayed constantly, leading to repeat TIF requests.

A lot of moving parts to put something like this together: materials, interest rate, labor, economy, etc. I'm sure they more eager than you are to start the construction, just that the numbers may not work out yet. You want to see something, but it's their money, their lives, their families are put on the line. It's not easy, look at the restaurants that are being closed left and right in OKC.

I am sure the official renderings/designs are complete. They are probably just sitting on them until everything is finalized.

I am sure the official renderings/designs are complete. They are probably just sitting on them until everything is finalized.

It seems as if a lot of people think final renderings are cheap. When you get early concept only rendering is when everyone on here goes crazy that they were sold a bill of goods and the final building doesn't look like the beautiful drawings. Final rendering reflect an immense amount of work and cost. You don't go deep into the final plans until you are pretty darn sure everything is buttoned up.

It seems as if a lot of people think final renderings are cheap. When you get early concept only rendering is when everyone on here goes crazy that they were sold a bill of goods and the final building doesn't look like the beautiful drawings. Final rendering reflect an immense amount of work and cost. You don't go deep into the final plans until you are pretty darn sure everything is buttoned up.

Thank you for saying that!! ^^ This is so true. Renderings take a while for a reason. I've heard about this issue all too much from family of mine who work different design and construction jobs. I haven't given up hope because I know they're working hard to get finalized renderings at the proper cost and accuracy.

I don't think we'll see anything until the construction drawings are largely done and then they'll submit renderings and detailed plans for design review.

I'd almost bet a paycheck that if the new arena vote doesn't pass, this project will not proceed!

I'd almost bet a paycheck that if the new arena vote doesn't pass, this project will not proceed!

1000%

1000%

1000% is being conservative. If I were a gambling man I’d go 2000%

I have my concerns about this project, but the new arena passing/failing isn't one of them. Oklahoma City is going to grow whether we get a new arena or not. This project has been in the works for over 2 years now. Long before Holt began the push for the new arena.

The ultimate need for the new arena has been known about in business and City leadership circles LONG before the mayor announced this effort last year. It was even acknowledged when the Paycom Center received its previous round of upgrades a decade ago. As in “this will suffice for a few years, but ultimately we’ll need to build a new arena in the net too distant future.” It wasn’t an open secret; wasn’t even a secret at all to anyone paying close attention.

The mayor didn’t suddenly dream up the building need last year; this need has been openly discussed for a decade in business and political circles.

OF COURSE this development was put together with the prospect of a new facility on the horizon. It was just a question of exactly when that would be, which the mayor answered last year in his State of the City.

I can’t speak to what will happen to this project if the arena fails, but it would be incredibly naive to expect that it would be unaffected.

Steve in his chat mentioned that the development group doesn't actually own the land yet. Is that true? Have I missed this? Why would they go through all this trouble if they don't own the land?

Or are they putting the cart before the horse, which could be very bad, since that property has increased in value significantly the last 2 years, since this started being talked about?

^^^^^^^^^^^
The land is owned by the Oklahoma City Urban Renewal Authority and is under a preexisting development agreement with Hogan. There is zero risk of what you describe above.

Steve in his chat mentioned that the development group doesn't actually own the land yet. Is that true? Have I missed this? Why would they go through all this trouble if they don't own the land?

Or are they putting the cart before the horse, which could be very bad, since that property has increased in value significantly the last 2 years, since this started being talked about?

Having binding contracts to acquire the land is all that is necessary to proceed. It isn't unusual. Being able to get the financing, incentives, approvals, etc. are often conditions for a purchase contract to be consummated.

Ok, just wanted to make sure! I just wasn't aware of that.

Welp. Here we go. News ok just dropped this on us. 2nd tallest residential sky scraper
Planned for The Bricktown’s Boardwalk Live
Check out this article from The Oklahoman:

OKC could get residential skyscraper twice as tall as Devon tower in developer's Bricktown plan

https://www.oklahoman.com/story/news/2023/12/18/developer-to-build-2nd-tallest-building-in-the-us-for-okc-apartments/71937684007/

Wish them the best with the tower. God bless 'em.

Welp. Here we go. News ok just dropped this on us. 2nd tallest residential sky scraper
Planned for The Bricktown’s Boardwalk Live
Check out this article from The Oklahoman:

OKC could get residential skyscraper twice as tall as Devon tower in developer's Bricktown plan

https://www.oklahoman.com/story/news/2023/12/18/developer-to-build-2nd-tallest-building-in-the-us-for-okc-apartments/71937684007/

Well, that would certainly be insane.

Welp. Here we go. News ok just dropped this on us. 2nd tallest residential sky scraper
Planned for The Bricktown’s Boardwalk Live
Check out this article from The Oklahoman:

OKC could get residential skyscraper twice as tall as Devon tower in developer's Bricktown plan

https://www.oklahoman.com/story/news/2023/12/18/developer-to-build-2nd-tallest-building-in-the-us-for-okc-apartments/71937684007/

lol. I hope that ends up being as unrealistic as it sounds.

Somebody check on Plupan...might have a heart attack today.

While it won't happen, phase one is still highly likely, and does wonders for the city. The biggest news is increasing the hotel by 130 rooms or so.

But using Steve like this is harsh. Lol. Scott is a bad man for this.

I will say, those first renderings.look.promising for the Reno frontage...if it's built like that, I think that's a pretty big home run.

This makes the whole project seem like a complete scam.

It’s clearly described as “aspirational” in the article. Even if it were scaled back to half of the height (or less) it would still be a wild addition to the skyline.

Relevant parts of the article I initially missed:

Expansion of the Hyatt Dream Hotel going up from 350 rooms to 480 rooms.

Including the podiums, each of the three towers (excluding the space elevator) will be between 32 and 35 stories high.

So that's neat.

This makes the whole project seem like a complete scam.

Nah, just that part. Matteson Capital has a lot of proven experience and a track record of quality projects.

There were also plenty of realistic changes to the plans, but people will solely focus on the tower, and not read the entire article.

Relevant parts of the article I initially missed:

Expansion of the Hyatt Dream Hotel going up from 350 rooms to 480 rooms.

Including the podiums, each of the three towers (excluding the space elevator) will be between 32 and 35 stories high.

So that's neat.

Exactly. Those are the realistic changes, and with improve the project quite a bit.

wow...highly doubt this happens

wow...highly doubt this happens

The whole project, or the super tall tower? I agree if you mean the latter.

Somebody check on Plupan...might have a heart attack today.


LOL. I thought the same thing

I would concentrate on everything other than the 134-story residential tower, which -- if built at all -- would be in a future phase. It's described as going last in the development and "aspirational".

The hotel will be 35 stories and the two initial apartment buildings 32.

Remember, hotel and apartment floors are usually significantly shorter than those in office buildings.



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I'd think they'll be about the height of City Place tower give or take 30 feet.

That's a lot of tall massing in that area