Good grief. What a mess.

Claims and counterclaims cloud future of First National Center | News OK (http://newsok.com/claims-and-counterclaims-cloud-future-of-first-national-center/article/5422698)

Good grief. What a mess.

Meanwhile the good citizens of Oklahoma City wait.

Is this a new roadblock or is this related to the lien filed back in December? The article says a ruling is expected soon to clear the way for the sale of the property to resume. That is optimistic, is it not?

Is this a new roadblock or is this related to the lien filed back in December? The article says a ruling is expected soon to clear the way for the sale of the property to resume. That is optimistic, is it not?

I don't think anything has changed regarding the sale since the Journal Record reported on this about a month ago.

It seems the judge has cleared the way for the sale to go through, the only issue is how the proceeds will be carved up among the sellers.

I am starting to think that while there was previous hope that this may drag out for a while..

I am starting to think that while there was previous hope that this may drag out for a while..

The judge have given the ok for the sale of this building. This property is loosing money in its current condition so its in the owners best interest to get rid of it.

The only real issue seems to be the risk to the future buyer in terms of this whole mess not being resolved in the manner they hope.

They are probably just making sure nothing else pops up and that the ruling of this judge doesn't change.

A Story of Hope (The large retail store in the middle across from the Tag Agency) is going out of business.
They have had their store 50% off for several weeks now. FYI

Judge clears First National Center in downtown Oklahoma City for sale | NewsOK.com (http://m.newsok.com/judge-clears-first-national-center-in-downtown-oklahoma-city-for-sale/article/5425553)

OKCTalk - First National Center set to sell on July 22nd (http://www.okctalk.com/content/173-first-national-center-set-sell-july-22nd.html)

WOOOO HOOOO!!!!!!!

What a great day for our city :)

Pete the article says remaining tenants will be asked to vacate. I'm assuming that does not include Cafe 7?

Omg its actually happening!

How are they going to start all that demo while Park Ave is closed because of P180? Will that section be open by July 23?

Great news. Thanks for the scoop Pete.

So the center section will be completely demolished and replaced with a parking structure? Can't wait for this building to get the attention it deserves. Perhaps this city's future 5 star hotel?

So the center section will be completely demolished and replaced with a parking structure? Can't wait for this building to get the attention it deserves. Perhaps this city's future 5 star hotel?

Not exactly sure how they'll do it but they will demo some of the center and/or east sections to make way for structured parking.

And I'm sure the hotel will be fantastic. Not sure how much of the tower will be hotel vs. residences but there will be a mix of both.


Also, the one tenant that may stay is Cafe 7. They have their own outside entrance but I suspect the nature of this massive overhaul would create all types of utility and access problems.

BTW, I'm quite sure the new owners have a specific plan in place -- both for the development and the financing/incentives -- they just haven't shared exactly what it is yet.

It's my impression they have everything ready to go and just need to gain possession to start moving forward.

This is the best news I've read here in a long time. And what a long time coming it was.

This really is the last big piece of the puzzle for downtown.

It will finally go from sad and worrisome to beautifully restored, vibrant and provide lots of reasons for people to go in and experience all the awesomeness.

I wonder how much TIF they'll ask for?

I wonder how much TIF they'll ask for?

If the timeline is as aggressive as presented, I would guess none.

Great news! I'm going to celebrate by taking a whole bunch of unauthorized photographs in the banking hall.

This really is the last big piece of the puzzle for downtown.

It will finally go from sad and worrisome to beautifully restored, vibrant and provide lots of reasons for people to go in and experience all the awesomeness.

This and Dowell will do a TON for street life in this area, especially on nights and weekends (in First National's case). Everyone throws the term "game changer" around a lot, but I feel like this truly is for the CBD.

Do you know if the retail in the center portion will be retained in some way?

I wonder how much TIF they'll ask for?

There has been talk of creating a TIF just for FNC; probably taking all the increased property taxes and giving them back to the developer, perhaps sales tax as well.

Similar to what was done at the Skirvin but also like the Skirvin, I'm sure there will be a big mix of incentives, loans, etc.


I know the new owners have been working with Cathy O'Connor and I'm sure they've come to some sort of general understanding of what to expect.

This and Dowell will do a TON for street life in this area, especially on nights and weekends (in First National's case). Everyone throws the term "game changer" around a lot, but I feel like this truly is for the CBD.

Do you know if the retail in the center portion will be retained in some way?

I don't know the details but I would think there would be ground-level retail/commercial for the entire block, even the part that includes parking above.

And it will be a game-changer not just due to the highest and best use but because almost certainly the Great Banking Hall will be activated in some ways, and it's perhaps the most beautiful space in all of OKC and we need to show it off to both residents and visitors alike.

The huge majority of people in OKC don't even know it's there. Soon, it will be on covers of magazines and be a tourist draw in itself.

I don't know the details but I would think there would be ground-level retail/commercial for the entire block, even the part that includes parking above.

And it will be a game-changer not just due to the highest and best use but because almost certainly the Great Banking Hall will be activated in some ways, and it's perhaps the most beautiful space in all of OKC and we need to show it off to both residents and visitors alike.

The huge majority of people in OKC don't even know it's there. Soon, it will be on covers of magazines and be a tourist draw in itself.

^ I can't count the number of people I've encountered that have no clue it's there, some of which surprisingly live in the CBD and Deep Deuce. I don't know if it's a general lack of curiosity or interest in architecture, but it is crazy to me.

^ I can't count the number of people I've encountered that have no clue it's there, some of which surprisingly live in the CBD and Deep Deuce. I don't know if it's a general lack of curiosity or interest in architecture, but it is crazy to me.

Even when it was still operating as a bank lobby, not that many people knew or went up there.

It is gorgeous space but when I banked there in the early 80's I thought it was dark and dreary and cold.

That can all be changed by the right lighting scheme and furniture. I pray they plan to restore the skylight because that would make the most difference of all.

Great news! I'm going to celebrate by taking a whole bunch of unauthorized photographs in the banking hall.

LOL

Just don't take any selfies & they will never know it was you. (please post the pictures)

There has been talk of creating a TIF just for FNC; probably taking all the increased property taxes and giving them back to the developer, perhaps sales tax as well.

Similar to what was done at the Skirvin but also like the Skirvin, I'm sure there will be a big mix of incentives, loans, etc.


I know the new owners have been working with Cathy O'Connor and I'm sure they've come to some sort of general understanding of what to expect.

That's good. I don't mind TIFs and really wouldn't mind it on this to restore the property.

Hopefully they ask for a reasonable amount, they have a lot of leverage right now.

That's good. I don't mind TIFs and really wouldn't mind it on this to restore the property.

Hopefully they ask for a reasonable amount, they have a lot of leverage right now.

Just by redirecting the increase in property taxes and sales tax back to the developer, that is probably about $20 million over the life of that new TIF.

They could also throw in some from existing TIF #2.

This is great, great news for OKC.

I'm looking forward to seeing what flag the hotel ends up getting. I've seen many of these types of buildings become Ritz-Carltons or Four Seasons.

This is great, great news for OKC.

I'm looking forward to seeing what flag the hotel ends up getting. I've seen many of these types of buildings become Ritz-Carltons or Four Seasons.

Well, rest assured it will have a Ritz-quality lobby!

New article from Steve.

New article from Steve.
First National Center tenants learn building could sell soon | News OK (http://newsok.com/first-national-center-tenants-learn-building-could-sell-soon/article/5426463)

Those are interesting comments by Meg Salyer. I'm not sure what kind of lack of agreement with the city she might be referring to that would be expected unless it is possibly concerning TIF or other incentives.

Those are interesting comments by Meg Salyer. I'm not sure what kind of lack of agreement with the city she might be referring to that would be expected unless it is possibly concerning TIF or other incentives.

I was thinking the exact same thing.

Oklahoma City Councilwoman Meg Salyer said city officials are equally surprised by the notifications. Salyer said the city has not been approached by the sellers or the potential buyer about the sale or the effort to evict the remaining retail tenants.

“They are extremely concerned,” Salyer said. “There is no agreement for any of this with the city. I’m hoping for some clarification.”


Huh? "Landlords can only evict tenants after receiving a court order. Before filing an eviction lawsuit, also known as a forcible entry and detainer action, the landlord must provide notice to the tenant."

Pardon them for not having a quiet sit-down with Ms. Sipperly-Sayler before taking care of business.

I have a friend who is a tenant in this building (his law firm, that is)... last I heard he is waiting to see what the state agencies do, given some of the tenants are major state agencies, e.g. the Oklahoma Tax Commission, etc.

I have a friend who is a tenant in this building (his law firm, that is)... last I heard he is waiting to see what the state agencies do, given some of the tenants are major state agencies, e.g. the Oklahoma Tax Commission, etc.

The Tax Commission and other state agencies seem to trend to lower rent offices, if whoever bought it is planning any sort of major renovation, they probably will find a cheaper location. Though wasn't the last potential buyer planning to convert it to a hotel.

Those are interesting comments by Meg Salyer. I'm not sure what kind of lack of agreement with the city she might be referring to that would be expected unless it is possibly concerning TIF or other incentives.

You probably want to make nice with the city if you're going to be needing a few (tens) million dollars from them soon.

You probably want to make nice with the city if you're going to be needing a few (tens) million dollars from them soon.

I think most on the city council would quickly get over it, if it meant finally having FNC turned into something great.

As someone who routinely frequents several places in the FNC arcade (I'm having a business lunch today at Cafe 7, and if I wasn't would be eating at the Chinese buffet, which is a post-haircut tradition for me), I'm concerned for their future. But overall this seems to be some great news.

By the way, the attack on Meg is completely unwarranted, especially since we can't be certain right now what caused her to make those comments. I've known her for 20 years and worked very closely with her for a number of those, and there are few people I know who care more about OKC and downtown. Nor have I ever seen her take the type of attitude you are insinuating through your comments.

Just hope that it doesn't follow it's historic pattern (like the Tower Theater) of owner after owner promising renovation and changes, only to leave the building with a couple of minor things done and mostly a continuing degradation of the whole property.

Just hope that it doesn't follow it's historic pattern (like the Tower Theater) of owner after owner promising renovation and changes, only to leave the building with a couple of minor things done and mostly a continuing degradation of the whole property.

Except the Tower Theater is actually now in the best possible hands, has an extensive renovation fully funded and in progress, and is close to finalizing leases/deals with some awesome tenants.

I really hope in all those respects FNC DOES follow this pattern and I really think it will.

I'm curious what cafe 7 will do. I think they have a great location but with park ave under construction and this about to begin...it's hard to see them staying there as it will be a mess to get to id assume.

Doesn't the park side building have available space for a restaurant? That might be a good new location if they had to move.

I'm trying to find out if Cafe 7 was given notice along with the other tenants.

It would be nice to have it there during construction, but that may be unrealistic given the scale and complexity of the work this is on the horizon.

I'm trying to find out if Cafe 7 was given notice along with the other tenants.

It would be nice to have it there during construction, but that may be unrealistic given the scale and complexity of the work this is on the horizon.

I think the story in todays DOK eluded to this.

Okay, just had a good conversation with the building manager at FNC, and here is the status:

- Tenants have been notified that the building will likely sell at the end of July
- At this point, no tenants are being asked to leave
- All tenants with month-to-month leases can be asked to leave with 30 days notice, at any time
- All tenants on longer term leases have clauses that allow lease termination upon 60 days notice, at any time

So, it is possible the building could be completely cleared in 60 days once it's decided to serve notice to all tenants.

Gotta crack eggs to make an omelet.

The Tax Commission and other state agencies seem to trend to lower rent offices, if whoever bought it is planning any sort of major renovation, they probably will find a cheaper location. Though wasn't the last potential buyer planning to convert it to a hotel.

Too bad Dowel tower isn't ready to go. That building would be PERFECT for state agencies who want/need to be downtown!!

Too bad Dowel tower isn't ready to go. That building would be PERFECT for state agencies who want/need to be downtown!!

In my conversations with Rick Dowell, he said he could ready a floor at a time pretty quickly.

Since most these tenants won't have to move for almost 4 months at the earliest, that might be enough time.

I'm most worried for people like the owner of the Chinese buffet, a longtime downtown merchant. Not sure he'll have the time/money to find a place to land. I stopped in and talked to him today, and since he hasn't been told anything, he is hoping he'll get to stay, which obviously won't be an option.

Although they may be allowed to stay a little longer than others, I'm pretty darn sure Cafe 7 is going to be asked to clear out as well.

BTW, although most of us have been praying for a new, responsible owner with the backing to pull off a full renovation, the reality is that this process is going to be hard to stomach for a while.

The building will certainly be closed and largely lifeless for 2-3 years. I'm sure this will work out fine but through all the ups and downs, at least the place has kept it's doors open and the lights on.

I (and no doubt others) are bound to have a bit of a panic attack when the place goes dark. It will be like a NASA mission where the spacecraft goes behind moon and you just have to wait for it to come around the other side, and hope and trust that it will.

BTW, although most of us have been praying for a new, responsible owner with the backing to pull off a full renovation, the reality is that this process is going to be hard to stomach for a while.

The building will certainly be closed and largely lifeless for 2-3 years. I'm sure this will work out fine but through all the ups and downs, at least the place has kept it's doors open and the lights on.

I (and no doubt others) are bound to have a bit of a panic attack when the place goes dark. It will be like a NASA mission where the spacecraft goes behind moon and you just have to wait for it to come around the other side, and hope and trust that it will.

Great analogy.

there seems to be plenty of UNUSED streetfront space in the CBD (like Sandridge garage for example); perhaps a deal could be made where FNC tenants like the chinese buffet could land there for a reasonable cost. Maybe this is something the city could assist with, perhaps offsetting some of the rent/costs?

This scenario actually would be a huge win for everyone in that the city gets more retail options on the street (and more tax revenue while retaining existing retail base), FNC gets to be dark and completely renovated - quickly, and the archade businesses like the buffet perhaps gets more business due to being on the street. Also SandRidge or the new owner(s) can get a revenue stream that currently doesn't exist. OKC as a whole would benefit if nothing else that with the increased perception of activity which tends to create critical massing that builds upon itself.

WIN-WIN-WIN!

Wouldn't want to lose Cafe 7 in the CBD but it could be nice if they were the new tenants at the Aloft restaurant space.... they might then also be encouraged to stay open later.

Steve has quite a bit of detail on this, including lots of detail from the new owner. Very exciting. Check his social media accounts and NewsOK.com at 9 PM Also, it sounds like timelines favor existing tenants more than the manager told Pete, which is good news.

Developer announces plans for Oklahoma City's historic First National Center | NewsOK.com (http://m.newsok.com/article/5426696)

Here is the good news re tenant relocations: First National tenants may have more time to relocate | NewsOK.com (http://m.newsok.com/article/5426699)