Court Plaza

[Pete]

At the recent Developer's Forum hosted by the Oklahoman, the topic of converting older downtown office buildings to residential was a strong theme.

Court Plaza (not to be confused with Plaza Court in Midtown) was mentioned as the next in line for conversion. It's a beautiful building but the interior looked dated when I was in about a year ago and I'm sure the floorplates are pretty chopped up compared to modern standards. It's directly north of the already-converted Park Harvey building.

https://www.oklahoman.com/story/busi...0007/?tbref=hp

So much public and private money has gone into the CBD and surrounding areas that OKC is fortunate to have many amenities, making it far easier to lease up these apartments.

The Oklahoman recap also mentioned two other buildings will also be converted but they were not specifically identified. This may be a reference to Dowell Center which is under contract; not sure about the other.

A point was also made that conversion becomes more economically feasible because new construction has become expensive. They didn't mention the other part of the equation but it's crucial: rental rates and thus income have gone way up as well.

I believe in healthy scrutiny when it comes to TIF awards, but these types of projects seem to be a pretty good use of those funds

[ManAboutTown]

Such a beautiful building. I would love to see this happen.

[Pete]

Unfortunately, those bronze-framed windows were added some time ago and I'm sure they will stay.

Court Plaza would look really sharp with retro-looking glazing, but it's still beautiful.

[Midtowner]

It's pretty well full of offices already. It's one of the more affordable office spaces downtown and right across the street from the courthouse.

[Anonymous.]

It will be interesting to see how fast Harlow leases.

[GoldFire]

Our first "real" office was in here around 10 years ago. It felt dated back then, but still absolutely loved that building. Would be great to see it updated with residential!

[bombermwc]

If it's basically full, why would they want to go through the expense of converting? That's a LOT of money to make that switch.

[Pete]

The last survey by Price Edwards at the end of 2023 showed Court Plaza was 84% occupied.

But that was over a year ago and I'm sure most of the tenants are not on long-term leases.

I'm working on finding more on the timing of the conversion, but remember they have announced a similar plan for Robinson Renaissance and it will probably take a while for them to help existing tenants trickle out of there as well, and that is probably the next in terms of priority.

[jn1780]

It's pretty well full of offices already. It's one of the more affordable office spaces downtown and right across the street from the courthouse.

That's why they have to convert to residential and remove that office space from the market. lol

[PhiAlpha]

Tulsa developers have been pushing conversions of all its historic CBD office space which has pushed those tenants into newer office space that has been vacated over the last few years. There seemingly aren’t that many historic buildings left that haven’t been converted or aren’t scheduled to be (though now that i think about it there are still quite a few). Overall it’s been very good for that CBD. I’m glad to see that has picked up a ton here over the last couple of years. It’s been the one thing really lagging development-wize in our CBD. Makes you wish Sandridge hadn’t been allowed to tear down a couple of the buildings on their lot.

I had an office in the Court Plaza about 10 years ago. Nothing overly inspiring about the office space but it was clean, cheap and our suite had been updated quite a bit. Would make for a nice apartment building if someone decides to move on it.

Dowell is really the biggest domino to fall. If that deal gets done, activating all of that empty space with full time residents will be huge for the CBD.

[Pete]

This building sold yesterday, but the buyer has yet to be revealed.

The new owners will be the group that will perform the conversion to housing.

Beffort said the building is 42% occupied, including the Verde Craft restaurant that opened on the ground floor last month. Beffort said the restaurant is remaining in operation at the building, but other tenants are being told they will likely need to relocate and are being offered space in other buildings managed by Beffort’s firm, Robinson Park.

https://www.oklahoman.com/story/busi...8007/?tbref=hp

[Pete]

These properties have been or will soon be converted into housing and/or hotels.

There should be more announced this year.

[PhiAlpha]

Don’t forget Robinson Renaissance!

[Pete]

^

Thanks, I added it.

[jdross1982]

Exciting to see so much residential housing coming into core. These conversions should prove the need for additional housing in core which should lead to more development in the surrounding area.

[burksooner]

You could also add Alley's End and Boulevard Place (if that is still something that would ever happen...)

I guess the graphic is conversions, so I understand why you left those off now

[PhiAlpha]

You could also add Alley's End and Boulevard Place (if that is still something that would ever happen...)

I guess the graphic is conversions, so I understand why you left those off now

Speaking of alley’s end, it’s too bad they already converted to the pioneer building to office space. It would also make for a cool apartment conversion.

[unfundedrick]

City Place also has residential on the upper floors.

https://www.cityplaceok.com/the-building/live-and-work

[Pete]

Speaking of alley’s end, it’s too bad they already converted to the pioneer building to office space. It would also make for a cool apartment conversion.

I'm still hoping the AT&T building (just north) will be converted to residential at some point.