Could OKC eventually have the tallest tower in the nation?

[HOT ROD]

I wasn't trying to discourage you or debate, I just felt that your tone was inappropriate for the discussion and that your "facts" were off-base. I certainly did not mean to offend you in ANY way! Sorry you took it that way.

But I do agree with you ^^, if you have a negative - why not suggest an improvement?

We all know OKC isn't perfect but it sure is doing way way better than 15 years ago. While we should be proud of ourselves we should not sit on our laurels and a shot or two with constructive criticism is appropriate.

That being said, I still don't get your past post gmwise. It really seems as tho you are letting your GM experience (apparent) assist you into believing that "OKC can't expand its downtown presence", to paraphrase you; but I do believe there has been billions of dollars in private monies spent downtown already and there has been news posts of at least 5 companies looking to move/expand/build downtown.

that ist great news! Be proud of your town.

Sure, I want to see it happen (prob just like you), but I will take the positive approach (of encouragement) and only accept (ie debate) the negative if it comes with alternatives.

I didn't see any in your past post.

[stlokc]

Hot Rod, I could not agree with you more. To see Oklahoma City today and to remember what it was like before the mid-1990s is to recognize a vast improvement in almost every way. The successes of OKC are apparent in threads all across this board, and I am more and more proud of my hometown every time I come home.

I do think that OKC boosters run the risk of resting on their laurels, though, and that is dangerous because if the oil economy collapses, the city has not passed "the point of no return" in its re-invention. To take just one example: the office vacancy rate is still murderously high, (I think the highest in the country) and I see very little "corporate peer pressure" to move businesses downtown. Everyone applauds Sandridge but it is going to take way more than their 1500 workers to begin to make the streets of the CBD seem crowded again. I think some in the business community are content to see Downtown as nothing more than a playground and not step up to the fact they have a huge role, maybe the central role, to play. Maybe the answer is incentives, maybe it takes a huge education and marketing campaign, I don't know.

This is not to endorse any negative thinking. I am the king of positive thinking and want to again emphasize how proud I am of OKC. I just worry that too many people I know that live there seem to think the downtown renaissance has achieved its purpose. The reality is there could be $10 billion more in private development and it still wouldn't be at its potential. Just a thought.

[JOHNINSOKC]

You are definitely correct when you say that the city shouldn't rest and assume that we've reached our goals or potential. I think the sky is the limit for downtown OKC and the metro as a whole. The vacancy rate is somewhat skewed by so much of the Class C space being vacant. The last report I remember seeing, and this is about a year or so ago, the Class A rate downtown was 14.9% vacant. That's not too bad. I would venture to guess that it's around 13% currently. If Devon decides to build a huge tower downtown, it will take roughly two years for construction and I would expect that our occupancy levels would be vastly improved by then. Between company moves from the suburbs to downtown, and possible new corporations coming to OKC, I think a Devon Tower would not be a negative factor in the office market. Thoughts??

[stlokc]

You are definitely correct when you say that the city shouldn't rest and assume that we've reached our goals or potential. I think the sky is the limit for downtown OKC and the metro as a whole. The vacancy rate is somewhat skewed by so much of the Class C space being vacant. The last report I remember seeing, and this is about a year or so ago, the Class A rate downtown was 14.9% vacant. That's not too bad. I would venture to guess that it's around 13% currently. If Devon decides to build a huge tower downtown, it will take roughly two years for construction and I would expect that our occupancy levels would be vastly improved by then. Between company moves from the suburbs to downtown, and possible new corporations coming to OKC, I think a Devon Tower would not be a negative factor in the office market. Thoughts??

I honestly don't know whether a Devon tower would be a negative factor in the office market. I do think Larry Nichols is showing very good judgment to be concerned about it...it demonstrates that he is a thoughtful advocate for the city and is not going to rush into doing something just because he can afford it.
You are optimistic, and optimism is good. But what company moves from the suburbs have you seen beyond Sandridge and maybe a scattered small firm here or there? I don't think there has been a fundamental attitude shift in this regard. Dirt is flying on Memorial Road faster than ever. Also: what new corporations are on the horizon? Again, I don't want to be the downer, maybe you know some things I don't. But beyond MG, and even that seems questionable, I haven't heard of lots of new companies coming in and clamoring for Downtown office space.
It would seem the key is to convert as much of the Class C space as possible to residential, boutique hotel, or other uses, such as back office. Move the firms still in those spaces to Class A or Class B. Then maybe the overall vacancy rate will come down. Also: so much of that Class C space is in the First National Center. I'll be anxious to see what happens there.