Council OKs 1st purchase of Core to Shore land
Journal Record
March 5, 2008

OKLAHOMA CITY – City council members approved the acquisition Tuesday of the first new parcel of land in the planned development of Oklahoma City’s core when the Interstate 40 crosstown is moved south.

The council unanimously agreed to purchase the U.S. Postal Service main city branch, 320 S.W. Fifth St., for more than $3.68 million. The council also cleared the immediate use of $50,000 in earnest money to secure the deal. The purchase will be funded by general obligation bond proceeds.

The Transportation Department has started building about three miles of a new I-40 route closer to the Oklahoma River and plans to release the old crosstown to development.

City leaders have dubbed the area Core to Shore and have proposed setting aside 10-15 blocks of it for a city park. City planners are trying to synchronize the park’s development with the lowering of the current I-40 bridge to ground level as a new city boulevard, which is projected for 2014.

The post office property would likely be near the center of the park. Early examples of the direction the park might take include the 25-acre Millennium Park in Chicago, sections of the massive Central Park in Manhattan, and the 21-acre Centennial Olympic Park in Atlanta. Those parks often have multiple, concurrent community events throughout the year.

Assistant City Manager Cathy O’Connor said city staff will submit the offer to the Postal Service for consideration. Council members first authorized the sale negotiations in September. If the deal proceeds as expected, closing will occur by June 30. O’Connor said the city already owned several properties near I-40 before the realignment was announced.