Nikz closing atop Founders Tower




Founders Tower is losing a second longtime tenant since developers decided to convert the property from offices into condominums.
Nikz on the Top, an upscale restaurant and club on the tower's 20th floor at 5900 Mosteller Drive, Monday said through attorney Bob Tomlinson that it is closing, effective today. A lawsuit filed at Oklahoma County District Court Monday alleges the developers, Jim Meyer and Mark Livingston, failed to keep promises to Nikz owner Bill Wilson that faulty air conditioning would be fixed by last summer and they would take all measures possible to limit the impact of construction on the restaurant's operation.

But in an announcement Friday, the developers said they spent a significant amount of money on renovations at the restaurant.

"One of the building's restaurants, Nikz at the Top, has experienced significant renovations, including more than $250,000 to replace all of the air conditioning, allowing for a better dining experience,” Livingston said in the new release.

In Monday's filing, Wilson alleges the air conditioning still doesn't work, customers have cancelled banquets due to construction, and customers entering his restaurant as of this week are being greeted by a sign that advises them to stay out due to the presence of asbestos.

Wilson said in the lawsuit he agreed to go on a month-to-month lease when his last one expired in early 2006 after receiving assurances from Meyer that they could draw up a new lease that would consider losses experienced during construction.

"It will be fair,” Wilson quotes Meyer as saying. "Don't worry about it.”

After suffering through 90-degree temperatures inside the restaurant last summer, Wilson said he is being asked to agree to a lease that will double his rent.

"It's destroyed his business,” Tomlinson said. "He believed what they told him the results would be and how it would go.”

Livingston, managing partner of Founders Tower Condominiums LLC, responded that all steps possible have been taken to help Nikz survive the transition from offices to condominiums. He noted the developers hosted a ribbon cutting celebration at the restaurant in November, and also steered a real estate conference to the establishment.

"The building had to be renovated,” Livingston said. "It was in poor, poor shape. On Nikz alone we spent a quarter million dollars on air conditioning. We're renovating a building that was just worn out, and we told Bill it would be somewhat difficult during remodeling.”

Livingston said the rent increase is not unreasonable, and reflects market rate for space that will be cutting edge when complete.

Wilson is seeking at least $10,000 in damages.

The lawsuit follows a court case between the developers and the owners of Queen Anne Cafeteria that ended in the eatery's closing over Christmas.

Renovation update
Developers of the 360 at Founders Plaza say they have sold 59 of 68 condominiums and the renovated tower will be ready for occupancy on June 1.

The renovation of the tower, built in 1963, includes all new plumbing, electrical wiring and heating and air conditioning systems.

The first completed condominiums are on the third floor, with floor plans ranging from 1,168 square feet to 1,704 square feet. Additional floors, with varying floor plans, are expected to be completed each month with a final opening date of December 2008.

Other updates include an indoor swimming pool and fitness center.

"We are very excited to offer northwest Oklahoma City a new style of luxury living,” developer Mark Livingston said. "We have received a very favorable response from the city and our tenants are excited to move in. Our renovations are on schedule and the craftsmanship of the building is incomparable.”

For more information, visit The 360 at Founders Plaza (http://www.The360Living.com).

Source: 360 at Founders Plaza

Just bidness unfortunately

Sure something will go in up there after the renovations are complete...Too good a spot to be vacant for long

Wow, already sold 59 of 68 condos...

It's pretty clear the new owners are looking to drastically upgrade the entire building, which means they want much higher rents for the two restaurant spaces.

I'm sure they'll probably get them, too.


Anybody have recent picutres of Founders with the new windows installed?

Malibu, I"ll take some in a week or so, the last two weeks they haven't added many. It's about 1/3 done with new windows, I want to wait until about half done to take my next round of pics, unless of course someone beats me to it!

Nikz and the Queen Anne might have been staples of the place before, but the new owners are obviously looking to shed any vestiges of the old. We will just have to wait and see who the new places are going to be. At first I was mad that they were basically making folks leave with their new contracts, but if they've really sold that many condos already, then apparently they really know what they are doing. It might suck for the folks that have had cheap rent in a pile of crap building before, but imagine what will come in once the building is back to a nice shiny and working glory? It's the fate of places like this, and in order to look to the future, they have to make some sacrifices....so Nikz is just the last one to go.

Only a third of the windows are in and they are supposed to have the new owners take occupancy on June 1st?

Sounds like they have an awful lot to do in the next few months.

It will also be interesting to see what people ended up paying for those units.

I will be surprised if any restaurant or club returns to that building. The residents living there will make it impossible for business to be successful. People who are going to spend that kind of money on a condominium are going to be griping about everything. I can foresee problems with parking, traffic from food and service deliveries, customers roaming into residential areas and some tenants complaining about some of the odors coming from the business.

I cannot see any restaurant wanting to fight all of those problems on a daily basis. I think when Founder’s 360 is complete it will be 100% residential. They will be probably converting the restaurant spaces to a lounge and entertainment areas for the residents. In those areas, they could add things such as a pool, Movie Theater, a small c-store, laundry services, or a private bar. Nikz could be become a resident lounge that residents can rent out for private parties. They may even convert Nikz to penthouse condominiums.

It could also be that the new owners want to sell that top floor as condos as well.

I agree that a full-fledged restaurant and lounge might not be the most compatible use -- especially when it's on the very top floor -- of an up-scale residential building.

I imagine the people on the floor below would not be too happy with the noise, traffic and smells.

If anything, something in the old QA space makes a little more sense because it's somewhat separated from the owned units.

Sad to see nikz go. Malibu, I thought the same as well, but if you re-read the article it states just the 3rd floor residences will open on June 1st. The entire building won't be ready until December 2008. I'm still skeptical if they've sold as many units as they have said.

First of all, as some of you may remember, I am not a Meyer fan. But really, doesn't anyone see a pattern here with honesty and integrity in dealing with his tenants? I also wouldn't put it past them to exaggerate the condos sold in order to imply urgency if you want one of their units. I'm not saying that's what they're doing, just saying I wouldn't put it past him. Look at the two tenants who have left in controversy - both had different stories to tell than Meyer. Nothing new. Buyer beware.

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Is Nikz the only top floor restaurant in the city? I know there's the Petroleum Club and the club at the top of Corporate Tower, but I can't think of any other restaurants with high rise views in the city. The Skirvin's restaurant is on the ground floor and I don't think they have another one. I'd love to see one open downtown and I think one on the top floor of a bricktown building with views of downtown would be great, too.

I think its crazy for Nikz to leave. If they would be patient in a year or so they would have had the nicest, most luxurious space for their restaurant in the whole city. Ultimatley I would think it would dramatically help their business.

Personally, I thought the food at Nikz was blah to terrible on my few occassions to eat there. I liked the bar and cigar room but only ate when friends insisted. I know some people who loved it, but I wasn't one of them.

I think there will be a restaurant back on the top when all is said and done. Remember, Nikz was a rotating restaurant, so it is separated from the floor below it-- so little to no smells, sounds, etc. Also, it would be very hard if not impossible to split it up into condos since it rotates. The plumbing is centered and doesn't move, and I don't see how you could incorporate that into condos. In addition, just leaving it as common area or party use for their tenants would be a huge waste of capital. The capital of that rotating part will dictate that some kind of restaurant will be there.

And all of the residents who have pre-purchased units there did so thinking that Nikz would be there, so they not only weren't worried about a restaurant and the traffic it brings, but they probably want a nice restaurant in their building for convenience. I am sure that the elevators will have a privacy function so that restaurant patrons will only be able to go to the top and the lobby-- they can't stop on the residential floors without a key or code.

I will be shocked if there is not a new restaurant to replace Nikz by December 2008, and fully expect an announcement before the end of this year. It is just too prime a spot, and some restauranteer will jump at the chance.

All good points brian and I hope you are correct.

It would be nice to have access to that building and view when the mood strikes.

Plus, the rotating restaurant is a nice part of recent OKC history.

Only time will tell... I just cannot see any restaurant wanting that space if it stays closed for very long. The only reason why Nikz succeeded is that it already had established clientele from the Eagle's Nest. It is one thing to have an office underneath a restaurant. Living under one is another.

Most of the people living their will be retirees or single professionals. Since this Oklahoma and affordable housing is in abundance, most families will opt for a suburban house. Most of those people will want peace and quiet 99% of the time.

For any business to be successful, you need a great deal of traffic. I know I would complain if I had to park over at Home Depot or if I had to cut through a congested lobby with my groceries on a busy night for the restaurant.

Somebody will try to reopen some type of eatery in Founders Tower. If it does not take off and remain successful over the course of the year, it will close for good.

Actually BaconCheeseburger Deluxe, I think their target demographic on the condo's (although you're right there will be single yp's as well as empty nesters) is corporate guests. The condo's have been targeted to companies to accomodate out of town executives and guests (i.e. Chesapeake, Element Fusion, Integris, etc.)

I'm not familiar with the elevators in the building, but if I were a tenant I would be pissed off if I had to wait forever for a ride because of the restaurant. I'm sure with the type of place it was, noise wouldn't have been an issue. It was a quiet restaurant, not a fast food joint or bar.

We talk about the rotating section and it's value. Remember that's something you also have to maintain. It might have been a thrill for a restaurant, but if you take it out, you can divide the space up for condos. Even if the plumbing is in the middle now, it doesn't mean it can't be altered to be moved. Imagine how much more you could charge per month/year when compared to a normal condo. The huge windows...what a view!

The restaurant space atop Founders has featured the rotating floor since its inception, if I'm not mistaken. My mom tells me it was known as "The Chandelle" back in the day.

I was never a fan of Nikz - too trendy for my taste - but the Eagle's Nest was wonderful. That was the spot my wife and I went for our first anniversary dinner. Incredibly special. I *hope* the space is too mechanically complicated to make it cost-effective for remodeling into condos; at least some element of the building's unique nature can be retained.

It's clear to me the new owners are doing everything they can to alienate whatever vestage of previous business ownership existed, and they clearly don't give a darn about it. Even if they ultimately lose, I hope the Nikz lawsuit at a minimum annoys the crap out of the new owners.

-soonerdew

Yes the restaurant was the Chandelle and was one of the few special places to go back in its day. My grandmother would take me there and I could get anything I wanted, even lobster. My stepmother said it was the first time she ever saw an 8 year old eat lobster. I think the rotating restaurant at 20 stories is just too unique for our city to lose. I think it needs to be shared with everyone and not just by one condo owner.

Yes the restaurant was the Chandelle and was one of the few special places to go back in its day. My grandmother would take me there and I could get anything I wanted, even lobster. My stepmother said it was the first time she ever saw an 8 year old eat lobster. I think the rotating restaurant at 20 stories is just too unique for our city to lose. I think it needs to be shared with everyone and not just by one condo owner.

I agree, but try that kind of rational thinking with Jim Meyer.

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I agree, but try that kind of rational thinking with Jim Meyer.


It wouldn't matter. Jim Meyer doesn't give a crap about Oklahoma City. All he cares about are the checks he gets from the the little trendy yuppies who rent (or, I guess in some instances, purchase outright) his little trendy condos.

-soonerdave