Don't know the name of the bank, but a new 3-story building is planned for NW Expressway between Penn and May.

There are a few largely vacant buildings on the site. There are huge set-backs all along NW Ex due to highway easements.

http://www.okctalk.com/images/pete/bank011523b.jpg


http://www.okctalk.com/images/pete/bank011523c.jpg

Very cool. It's likely to be Regent Bank, which currently leases space in 50 Penn Place, or Great Plains Bank, which has grown its Oklahoma City market rather quickly.

Not Great Plains - they have the NE corner at Memorial and MacArthur (just south of Gaillardia) which has been approved for a 3 story building. Planning in the works.

Will this sort of development be required to do sidewalks along NW Expressway? There's no sign of them in that site design but it's also fairly early.

Will this sort of development be required to do sidewalks along NW Expressway? There's no sign of them in that site design but it's also fairly early.

Yes.

Sidewalks are required for all new construction.

Not Great Plains - they have the NE corner at Memorial and MacArthur (just south of Gaillardia) which has been approved for a 3 story building. Planning in the works.Very good to hear. I had not heard this but have a couple good friends who work there and am happy for them.

Very cool. It's likely to be Regent Bank, which currently leases space in 50 Penn Place, or Great Plains Bank, which has grown its Oklahoma City market rather quickly.

Regent is building or going in the space up at 2ndstreet and 35. Are they big enough to need that space plus this? So makes me think it’s not them.

Regent is building or going in the space up at 2ndstreet and 35. Are they big enough to need that space plus this? So makes me think it’s not them.I spoke with a friend who works there and it's definitely not Regent.

It is First National Bank & Trust Co. currently located at 3030 N.W. Expressway, Suite 130

It is First National Bank & Trust Co. currently located at 3030 N.W. Expressway, Suite 130

Thanks Gary.

Yes.

Sidewalks are required for all new construction.

By default they are only required by ordinance along major and minor arterial streets (Class 1 and 2 streets). They are typically included in Plats, Puds, and Spuds, but are not required to be. There are still a few that don't get them included but usually only in rural areas. It's easier to get approval from planning if the sidewalks are included. That being said, we should see the city re-working all the zoning in a few years so that might change.

By default they are only required by ordinance along major and minor arterial streets (Class 1 and 2 streets). They are typically included in Plats, Puds, and Spuds, but are not required to be. There are still a few that don't get them included but usually only in rural areas. It's easier to get approval from planning if the sidewalks are included. That being said, we should see the city re-working all the zoning in a few years so that might change.

Sorry for the diversion, but is the city *actually* going to work on zoning, and if so, why and what are they going to do?

Sorry for the diversion, but is the city *actually* going to work on zoning, and if so, why and what are they going to do?

They are finishing up new sign ordinances right now. Then they are going to start work on simplifying the zoning. The plan is still in discussion from what I'm told, but they expect to combine many of the different zoning classes. I've heard there might be as few as 6 zoning classes. Not sure what the exact breakdown will be or who they are modeling this after.

They are finishing up new sign ordinances right now. Then they are going to start work on simplifying the zoning. The plan is still in discussion from what I'm told, but they expect to combine many of the different zoning classes. I've heard there might be as few as 6 zoning classes. Not sure what the exact breakdown will be or who they are modeling this after.

Thanks, hopefully it'll be form-based or at least partially that way. I'll have to email my councilman to get some info...

Sovereign Bank has closed on this property and is proceeding with plans for a 3-story building.

No permits filed as of yet. The buildings on the site have been completely empty for a while.

http://www.okctalk.com/images/pete/bank011523b.jpg


http://www.okctalk.com/images/pete/bank011523c.jpg

And they say the Oklahoma city office market is hurting post-covid. This is the most new office space construction being developed in Oklahoma City at once in a long time.

https://www.oklahoman.com/story/business/local/2023/05/29/sovereign-bank-okc-new-branch-open-2025-northwest-expressway/70158881007/

And they say the Oklahoma city office market is hurting post-covid. This is the most new office space construction being developed in Oklahoma City at once in a long time.

A lot of this new construction is being built for tenants already lined up for the space. It will be telling to see how it goes for the landlords that will need to backfill space being vacated by said tenants. "Flight to quality" as the buzzword goes...

Office space is office space. And per the article, this is office space in addition to what they already have to accommodate the new 90 employees they will have from the merger, so they won't vacating anything.

I work for a small business that is growing fairly rapidly. We are entirely remote currently, but have been scouting office spaces in anticipation of future growth.

Granted, we don't have deep pockets and we are somewhat miserly as we are a startup, but we are consistently surprised how expensive commercial rents are. I'm sure they're cheap compared to other cities of course but it's not as easy as one may think to find quality commercial space at a reasonable rate in OKC.

That seems like a lot of land for one 3-story building.

The lot looks to be the same size as the lot across the street that hosts two much-taller towers.

20k ft per floor isn't particularly large. If this is Fist National from Union Plaza like many articles are saying (rebranding), then they have about 19k right now on the first floor. It's just in this weird disconnected way across the lobby from itself on both ends of the building. If they add any space at all, then they could easily take up at least half of that second floor. So to be honest, they aren't adding very much new space to the market, and it's most likely going to be subdivided for something like 5k ft spaces.

Demolition permits have been filed for one of these buildings.

There haven't been any building permit applications, so they may be planning just to scrape the site for now.

Demolition permits have been filed for one of these buildings.

There haven't been any building permit applications, so they may be planning just to scrape the site for now.

I think we recently discussed this property in the OAK thread. I think if the apartments at OAK are successful, this would be a good spot to add more. And I'd imagine any decent restaurant mix would work almost anywhere on northwest expressway.

The bank concept that started this thread isn't all that exciting at this point, but at least it's not 4 vacant buildings on a stretch of road with a lot of traffic.

Since Sovereign bought what was Union Plaza just blocks away, I doubt they will develop this for their own use.

But it's a great piece of property and half of it has never been developed.

All types of possibilities.

If they are looking to be a bank for more than the business world or mortgages, then Union Plaza shouldn't be their end game. They have re-branded it and have their offices on the 1st floor still. The teller spots on the back garage deck are still there (and still never "green" lol). So it's clear that they are really only interested in foot traffic that has a reason to come inside (like a mortgage or a loan). If they really want to get into that general banking world, the new building would be necessary from a "service branch" perspective because Union Plaza just isn't set up for that. But haven't seen any indication that the newly combined bank is looking to get into that world though. So at least on the surface, it appears that they will be staying put at Union. There is PLENTY of space in the building for them to take as much as they want.

If they are looking to be a bank for more than the business world or mortgages, then Union Plaza shouldn't be their end game. They have re-branded it and have their offices on the 1st floor still. The teller spots on the back garage deck are still there (and still never "green" lol). So it's clear that they are really only interested in foot traffic that has a reason to come inside (like a mortgage or a loan). If they really want to get into that general banking world, the new building would be necessary from a "service branch" perspective because Union Plaza just isn't set up for that. But haven't seen any indication that the newly combined bank is looking to get into that world though. So at least on the surface, it appears that they will be staying put at Union. There is PLENTY of space in the building for them to take as much as they want.Retail bank branches are a dying breed, for the most part. The younger generations prefer to move money electronically (Venmo, Apple Pay, etc.) and cash is easily available at ATM's. And bank branches are incredibly expensive, given the vault, teller line, security infrastructure, etc.

I would be surprised if they turn this prime piece of land on NW Expressway into a retail bank branch, but we shall see.

Demolition permits have now been filed for all four buildings on this site.

My understanding is that Sovereign Bank is still proceeding with a new three-story building despite buying the former Union Bank building just west on NW Expressway.

It seems they want a more visible location for the bank, plus an easy drive-thru setup.


No building permit applications have been filed as of yet.

As strange as this seems, this may have been the newest office building along NW Expressway for a long time.

I can't think of any office property built along that corridor for several decades.

I saw today where they have begun demolition on this site.

From this morning:

http://www.okctalk.com/images/pete/sovereign112124a.jpg

http://www.okctalk.com/images/pete/sovereign112124b.jpg

In looking at that picture, I can't believe that they will use all that land for one 3-story building. That does not seem like very efficient use of land at all. The two mid-rises across the road are positively urban by comparison.

In looking at that picture, I can't believe that they will use all that land for one 3-story building. That does not seem like very efficient use of land at all. The two mid-rises across the road are positively urban by comparison. Perhaps, they have multiple uses for the land such as additional tenants or restaurants, shops lined up? I am sure they have taken into account of the land's "highest and best" use. The buildings were dated and appeared run down so I am glad they are being demolished with a more modern, newer development. Good exposure too!!

This is the only site plan I've seen; there are huge setbacks due to highway easements:

http://www.okctalk.com/images/pete/bank011523c.jpg

Looks like plenty of room for a Pappadeauxs. Haha! :tongue:

HTTP://www.okctalk.com/images/pete/sovereign122024a.jpg