I think its fair to say OU and Norman were functionally found/created at the same time.
I think its fair to say OU and Norman were functionally found/created at the same time.
UNP didnt even exist 20 years ago and look how its become a massive shopping complex over that time, all somehow without a small college arena. Guess it magically happened.
$600 million will be repaid back quickly from this TIF district? A billion dollars worth of real estate will only bring in $10 million per year. A well performing walmart will bring in maybe $5 mil/year. To pay back the $600 mil isnt going to happen quickly, if at all. And if not, someone is left on the hook. Maybe below Boulder can answer.
So who is the owner of the arena and guarantor of the bonds?
my bad... may of 2006. so 18 and a half years.... and if you call that a massive shopping complex, then you and i sure think differently. in 18 years, it's basically 3 anchor stores in Crest, Target, and Academy, and then a bunch of stuff has come an gone. and lets not forget that over half of the area is still undeveloped after 18 and a half years, and that we are just now seeing some infill. This place should have been packed with no space left 10 years ago.
We do think differently, and for good reason. Cell phone data shows that UNP is the most visited shopping center in the entire state. Main Event and Sephora are coming, both of which will drive lots of additional traffic. And all of this is happening without a small college arena, which are famously not known to be a driver of hundreds of thousands of square feet of retail, thousands of living units, nor do they have recent college grads asking themselves "why move to OKC or Dallas when I can stay in Norman because of this 8,000 seat college arena?!"
Norman has excess retail now according to the developers for Moore farms on 36th SW.
OU and the developers are free to use their lines of credit and build what they will on their land. Keep Norman finances out of this speculative venture.
As far as the arena, tap BMD donors like Hamm and Bennett and put their name on it.
RE: challenge of TIF petitions and hearing schedule.
SCHEDULING ORDER / JV / IN RE: CASE TO BE HEARD FEBRUARY 19, 2025 AND 2-25, 2025 BEGINNING AT 9:00 A.M. EACH DAY
Entertainment district vote to be delayed by court hearing | News | oudaily.com
https://www.oudaily.com/news/norman-...aa6d97a34.html
lol the people saying that this isn't because people in norman hate OU but then this is said
Arcaroli said while the university is not named in the lawsuit, he believes they are involved.
Arcaroli said while the university is not named in the lawsuit, he believes they are involved.
How does this show Norman hates OU? Hes just saying he thinks OU is involved in this legal maneuver. You seriously dont think OU has been behind the scenes in any of the machinations of this? You dont think the 4 citizens who are protesting the signatures have had zero communications or contact with university officials? I think you're being a little dense here.
you all seem to think that these developments are just going to happen without the tif district, and without the arena, but the 4 people who are protesting the signatures are the major developers of the project. people have said on here that even if the arena isn't going to be built, that these same developers are just going to go ahead with their plans.... I think you are being a little dense here.
PF Changs has its building permit. https://www.normanok.gov/sites/defau...D%20REPORT.pdf
Main event has started vertical construction
Did you know that when Norman was founded, there was a university within city limits that wasn't OU? The Methodist Church had built a university and had plans to grow it to be a major private institution. OU saw it as competition, and had a friendly negotiation with the church and in the end the private university agreed to move elsewhere. What used to be the private university eventually became the large sprawling mental health campus on the east side. It has been a long time since I read through Oklahoma history, but I believe the university donated the land north of OU at the time to the church and in turn they built McFarlin on that land.
So somewhere out there in a parallel quantum reality Norman is a thriving town with a university that is not OU.
that's really cool... i learned something new today.
https://www.okhistory.org/publicatio...ry?entry=HI002
Hearing the Five Below/Sephora building just north of Crest will start construction the week of January 13th. I would imagine Hobby Lobby and Mardel would be around the same time.
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