What's happening at Sheridian and Hudson?

[trison]

I noticed that Precor has purchased the old Carpenter Square Building as well as the old parking garage south and now they have purchase the One North Hudson building on the corner. Rumor is that they have given notice to all of the tenants that they need to be out by next summer. Has anyone heard about what they plan to do with these properties.

[jbrown84]

They better not be tearing them down.

I've heard the name Precor. What is their track record? What kinds of projects have the done in the past?

[metro]

Yes, I heard this "rumor" yesterday. The One North Hudson building you are referring to is the old Hotel Black. The hot rumor is that Devon is about ready to announce building a new tower and they need these spaces for part of their development.

[trison]

I can't imagine that the city would let them tear down the old Black Hotel or the parking structure. Both of these buildings are very viable. I wouldn't have a lot of heatburn if they tore down the old Carpenter Square building but the other two could be really neat especially with all of the parking across the street.

[jbrown84]

With so much surface parking and ugly parking garages and empty lots they BETTER NOT be tearing down these buildings for a new tower.

Haven't we learned our lesson?

[trison]

I agree, didn't we learn anything from our past. We lost a lot of great old buildings in the late 70's and 80's and we will never get them back. Can you imagine the Biltmore redeveloped. I would hate to see us start that trend back. If they want to put up a new tower then do it in the core to shore area where there is pretty of open space available. That would definitely kick that area off in style. I definitely want to keep Devon in downtown but I don't want to lose more historical structures that can be functional.

[Pete]

This raises a good question, though... Where would Devon put a new tower?

[TStheThird]

Could we get some pics of the buildings discussed in this thread?

[Pete]

I think these are the buildings they are talking about, with Carpenter Square on the right, parking garage center and One Hudson (Hotel Black) on the left.

I'm sure someone will correct me if I'm wrong:

[Architect2010]

Is it possible that they could build the Devon Tower on the Galleria Parking Garage site??? no the garage itself, but the huge lot just south of it... I don think they should have vuilt that huge lot, they should have just made it was taller.

But anyways, could they do that?

[Pete]

This same group bought the Carpenter Square Building:


Downtown parking garage in OKC sold to local developer
Journal Record, The (Oklahoma City), May 30, 2007 by Kelley Chambers

A parking garage housed in a 1920s building sold recently and plans are in the works to change the building from parking to a yet undetermined use.

Nicholas J. Preftakes, as Sheridan Redevelopers LLC, purchased the structure at 17 N. Hudson Ave. for $3.25 million from John D. Cheek (Cheek Properties LLC).

Built in 1929, the nine-story garage with more than 96,000 square feet is a poured-in-place-concrete building with a brick exterior and more than 900 parking spaces.

"It's built like a fortress," Preftakes said.

And while Preftakes said he could not disclose plans for the new use because they are not yet definitive, he said the building will soon no longer be a parking garage.

"My intent is to renovate the building for an alternative use and close the parking as soon as possible," he said.

Preftakes, chairman and president of Precor Equity Fund Inc., has also been involved in the renovation of a building at 125 Park Ave. into office condominiums and downtown Oklahoma City's first successful loft project, the Garage Loft Apartments, in an old car dealership at 113 NW 13th St.

The parking structure on N. Hudson Avenue currently offers short- term and long-term parking and is managed by Republic Parking System, a company that also manages all the city-owned parking garages downtown.

John Calhoun, with the Oklahoma City Planning Department, said the building has always been a parking garage, although some tile near the entrance on the lower level indicates that at one time there may have been some light retail in that area.

[Pete]

I couldn't find anything about One North Hudson selling. No articles and the county database shows that it's had the same owner since 1994.

Here's another photo of that building, with the parking garage and Carpenter Square Building to the right:

[metro]

I imagine IF Devon ends up building a new tower in that area, it will be on the Galleria's surface parking lots, perhaps they will need the buildings in question for some other use, perhaps the parking garage for extra parking, or maybe they want to build some sort of a campus like Chesapeake only more urban. The garage could easily be turned into lofts and the old hotel black could be used for a hotel, condos, apartments or mixed use development. The Devon tower rumor I put up above was from some pretty solid leads, but I'm not betting on it just yet. I'd love to see their tower their on the Galleria site and add more synergy to the west CBD. This would help flow things south when Core 2 Shore comes along.

[jbrown84]

I hope that's what they are doing. It makes a lot more sense.

[Pete]

I can't imagine that anyone in a decision making position in OKC would allow any more downtown buildings to be destroyed. And there are plenty of watchdogs out there, too.

I personally hope that Devon doesn't use the Galleria parking area for a tower. That's the perfect location for a convention hotel -- an office tower can go just about anywhere.

[jbrown84]

there's room for two towers there, or Devon tower could be combined with hotel/residential.

[metro]

That would be sweet, to have a mixed use tower like they do in BIG cities. Have retail on the first few floors, then hotel/residential, then have the corporate levels up top.

[betts]

From the DOK:

Downtown developer purchases entire 100 block of Hudson
By Steve Lackmeyer, Business Writer

Veteran downtown developer Nicholas Preftakes, now owner of the entire 100 block of Hudson Avenue, calmly smiles and deflects any suggestion that his continued acquisitions along Hudson Avenue are any more than a routine investment. But his latest purchase of the 1 North Hudson Building — the former Black Hotel — has some observers wondering whether the purchases are based on widespread rumors that Devon Energy is contemplating building a new corporate headquarters at Hudson and Sheridan.

"He's probably hearing rumors of potential development across the street,” said Brett Hamm, president of Downtown Oklahoma City Inc. "It might reflect his hope or belief there might some validity behind all that.” To date, Devon Energy has not publicly discussed any plans for a new headquarters. The company currently occupies office space in five downtown buildings. Oklahoma City Urban Renewal director JoeVan Bullard, whose agency controls the parking deck, said he has had no formal discussions with potential developers.

Preftakes began buying property across from the parking deck earlier this year. Some properties, like the former Carpenter Square Theater and Dorn's Office Supply, already were empty. Anita Sanders, who renovated 408 W Main into her law offices, moved out when it was sold to Preftakes for $1 million in March. Likewise, all parking contracts were terminated when Preftakes paid $3.25 million in June for the seven-story Cheek garage at 17 N Hudson. Preftakes has confirmed he completed the purchase of the 1 North Hudson Building last week. He declined to disclose the price, and the deed transfer was not available Wednesday at the Oklahoma County assessor's office.

As with his other purchases along Hudson Avenue and Main Street, Preftakes was coy about buying 1 North Hudson, saying it represents continued investment downtown. "It's as simple as one thing leads to another,” Preftakes said. "Sometimes people contact me.” Preftakes said his immediate plans include some "cleaning up and TLC,” but no major changes. He said the tenants are not being asked to leave. "The office building works as an office building, and we will continue to operate it as an office building,” Preftakes said. "We won't be moving anyone out — tenants like Scotts Office Printing are there for a long time.”

[Doug Loudenback]

Verrrry interesting.

[Pete]

betts, I merged your post with this other thread so other would be sure to see the pictures and other discussion.


Sounds like this Devon Tower idea is gaining real momentum. However, as stated, I hope they don't plan to using the entire south half of the Galleria parking garage for an office building.

That's the perfect spot for a convention hotel.

[metro]

How is it a perfect spot if the Cox Center is raise in a few years and a new convention center is built more SE than the current one, then instead of the Galleria site being within 2 blocks of the convention center, it would be 5-6 or so. Just a thought.

[okclee]

Doesn't the Core to Shore plan show a new convention hotel located along what will be an expanded park / myriad gardens?? I believe that it does.

[metro]

Yes okclee, but as I mentioned it's going to be further away from the Galleria site than the current one is. So if anything South of the Ford Center, or the UHaul parking lot in Bricktown or where the Cox Center will become the perfect spot for a large convention hotel.

[Kerry]

I suspect these building could be convert residential property once a large office building is constructed across the street. You can check the Core to Shore plan but wouldn't a building on the Galleria gargae site be in a perfect line with the core shore park and provide an awesome view all the way to the river.

[Doug Loudenback]

About replacing the Black, the garage, and the smaller buildings for a 40-50 story drop-dead gorgeous Devon skyscraper that could be the new marque signature building for Okc (should such a thing be in the cards), as for me, I'd say go for it!

You know that I'm all for history but the only building involved in this mix which is all that great is the old Black Hotel ... and, while Ok, it was never in the same category as being a "super" old building (such as the Baum was), in my opinion.