Chesapeake buys Ft. Worth tower

[Pete]

Just think, if Chesapeake had it's HQ downtown, their staff could take the Heartland Flyer to and from their Ft. Worth location without even needing a car.

[BDP]

is it the 300 to 400 employees in this Fort Worth building that makes some of you think Aubrey is going to abandon OKC??????

I don't know why anyone thinks they are abandoning OKC, but this actually highlights the point most are trying to make, along with them owning a 20 story towed in Virgina (which I didn't know).

In fort worth, they buy a tower downtown for 400 employees. In Oklahoma City they build a campus for 2000 and overpay for properties that had viable businesses on them to do it.

And forgive me if I don't consider a business that is buying up and tearing down other businesses to convert them to their private use as "feeding me". In fact, they've torn down some places where I used to eat, so if anything, the opposite is literally true.

Chesapeake obviously needs these facilities and labor they have elsewhere. It's just funny that the driving motivation behind the development of their Oklahoma City headquarters is to reinvigorate the struggling and dilapidated Nichols Hills area. I mean, it's such an important mission to them to help these people out that they will pay 10 times the assessed value to make sure this neighborhood gets back on its feet.

[traxx]

If there are 5,000 CHK workers in Texas it's because that's where the drilling happens..... they can't hardly drill in the Barnett Shale from OKC....

Obviously McClendon has never heard of the slant drilling technique employed by C. Montgomery Burns on the Simpsons.

But seriously, I don't understand how CHK has become the devil on OKCtalk just because they built a campus instead of a tower downtown. Somehow Devon has become the savior of OKC because they are building a tower.

It's just a different philosphy. Maybe McClendon likes a more homey feel where he can have it designed to his specs for work and play (fitness area). Just because his ideas are different from yours doesn't make him wrong. When you decide to build new headquarters for your multi billion dollar company you can build any way you want.

[OKCMallen]

I don't jump on the hate CHK bandwagon, but one reason it makes people nervous about his building plans ie because we've experienced urban sprawl at its worst, and we're not in the mood to do it again. But generally, he can do whatever he wants; at least the buildings look nice.

[BDP]

Yeah you're right. It's hard to believe that people would have an opinion on the development of their community.

Devon is a 180 from Chesapeake in development philosophy. They have made sacrifices to be downtown, help the viability of an area that needed it, occupy space, and have actually resisted the temptation to build a headquarters out of concerns of saturating the downtown market with more vacancy. Devon is not the savior of OKC because of what they are going to build, but more so because of what they haven't built.

Their biggest contribution is actually NOT building a tower when they could have justified it, NOT tearing down existing businesses to facilitate their own needs in a market that has ample property already, and NOT simply adding commercial inventory on the fringes of the city because they could get a little bit better price per acre on the property.

No one thinks Chesapeake is the devil and obviously they are going to do whatever they want to do, especially in a city that is desperate enough to not care about what they could be doing, but it shouldn't be too hard for anyone to recognize the differences in what guides Devon and what guides Chesapeake in developing their corporate community in context of Oklahoma City's future. Devon is just more conscientious about with they are doing and Chesapeake is mostly ego driven. The funny thing is that I would probably not say the same thing in terms of how the companies are actually run, but that's a different topic and separate issues, imo.

[traxx]

Yeah you're right. It's hard to believe that people would have an opinion on the development of their community.

I'm assuming from your post that you believe I'm not allowing people to have an opinion about their community. I never said anything about not being allowed an opinion. I said I don't understand why people on here are demonizing CHK just because they choose to build a campus instead of a tower.

I'm of the opinion that urban sprawl is ugly strip malls with just another Subway deli and nail salon like the one that CHK tore down to build it's very nice looking campus.

And to say that McClendon doesn't care about downtown is to forget that he helped buy the Sonics just to move them to OKC and for no other reason. In fact, he nearly put the kibosh on the deal by saying just that. The Sonics will be an investment in downtown and help the area in so many ways for so many years.

[Pete]

It should be pointed out, too, that CHK/McClendon had a lot to do with Sandridge buying the Kerr McGee tower and related properties.

That was a huge favor made towards downtown and OKC in general.

[bretthexum]

Obviously McClendon has never heard of the slant drilling technique employed by C. Montgomery Burns on the Simpsons.

But seriously, I don't understand how CHK has become the devil on OKCtalk just because they built a campus instead of a tower downtown. Somehow Devon has become the savior of OKC because they are building a tower.

It's just a different philosphy. Maybe McClendon likes a more homey feel where he can have it designed to his specs for work and play (fitness area). Just because his ideas are different from yours doesn't make him wrong. When you decide to build new headquarters for your multi billion dollar company you can build any way you want.

Exactly. For someone who's created that many well paying jobs for Oklahomans, give him a break. There could be many reasons he doesn't want something downtown. Who cares. It's his business, and he can do what he wants. It's not like they don't give back to the community in other ways. Yes, the whole campus expansion issue off Western pissed some people off. But it's not like these people who sold their property to CHK didn't make a few bucks off it.

[BDP]

I'm of the opinion that urban sprawl is ugly strip malls with just another Subway deli and nail salon like the one that CHK tore down to build it's very nice looking campus.

I don't think they have added to sprawl, but they certainly didn't do anything to combat it. It's all a fairly lateral move to this point. Some may like their campus (it's certainly hard to not appreciate their landscaping), but as its grown it has become pretty pedestrian, but I'm not really even talking about the aesthetics of their development, more about the impact and specifically the opportunity cost of their vision.

And to say that McClendon doesn't care about downtown...

I didn't say that.

The Sonics will be an investment in downtown

Of course it will be and we're all a part of that investment, but that has nothing to do with their headquarters or how it compares to their real estate decisions in other markets.

I think it's a pretty hard concept to discuss in this forum. To most people, I can't talk about the opportunity costs associated with their developments without people taking it as me criticizing the company as a whole or discounting their other exemplary contributions to the community. It's very easy to wow people into apathy, so maybe I should just drink the CHKool-aid, too, and stop discussing it, but every time I think I'm okay with doing that, something else in the district is gone and replaced with something for Chesapeake or left empty.

[Pete]

You know I hear your points BDP and I appreciate you raising them.

I think it's best to separate out the issues of their business and their real estate decisions.

Of course, it's great for OKC to have them in town with all their high-paying jobs and reputation for treating employees very well.

But that is completely separate from their plays -- many very large ones -- in real estate and the potential impact on one of the best areas of town.

In other words, just because they are a big employer doesn't mean they shouldn't be questioned, especially since their plans clearly go beyond their own corporate headquarters.

I've said all the way along I'll feel much better when they start putting some things back other than just for their own private use. I'm sure they have some grand plans but they aren't talking and they have certainly torn down plenty of buildings and displaced lots of businesses.

My greatest fear is that something is going to change before they get a chance to execute their plan: they're bought, their business takes a big downturn, the local economy takes a dive, etc.

It's also scary to think about them performing major surgery on NH Plaza and the surrounding districts only to accidentally ruin the eclectic charm of the area.

I can tell you that as of today, that area of town is less appealing to me now than before CHK started their major land grab. I miss the Varsity and Pearls and seeing some pretty brick buildings as a I drive by in my car doesn't compensate. And when the Regal Room closes later this year, that will be one less event venue and one that I'll miss.

They own virtually all the properties that house all the best retail and restaurants in that area. While any one of them is certainly replaceable, the sum total of what is getting to be a long list of places that have relocated or just cashed out is starting to be significant.

[Kerry]

I still think they are preparing their campus for a private university.

[sgt. pepper]

Kerry, in your opinion, Where do you think they will relocate thier business if they turn the campus into a Chesapeake State University?

[okclee]

I still think they are preparing their campus for a private university.

There you go. If something ever happens to Chk , Okc will have a great new campus for a university.

[BG918]

There you go. If something ever happens to Chk , Okc will have a great new campus for a university.

What university? Would UCO ever move out of Edmond into the Chesapeake campus? That would be interesting. Whatever it takes to get CHK downtown is a good thing. Although I doubt they move, especially if they are building up the area. And with a potential commuter rail stop at NW 63rd just east of the campus it could be one of OKC's largest future transit-oriented developments.

[Kerry]

Well, since we are playing fantasy with someone else money and property here is my plan. CHK will build a new tower in downtown OKC starting in 2010 and will take 2 years to complete. They are waiting until 2010 to make the announcement after MAPS III passes just like Devon did with the Ford Center vote. They will be an iconic tower near core to shore that will rival the Devpn building in height and style. Then they will work with American Fidelity to buy the current Devon tower and remodel it into a Class A property.

When CHK moves into their new tower in 2012 (2 years construction) they will open Oklahoman City Polytechnic at the current CHK campus. Meanwhile, Sandridge will buy Anadarko Petro and move them back to OKC which will fill up the old KM building.

That is my vision of the future for OKC.

[BG918]

Well, since we are playing fantasy with someone else money and property here is my plan. CHK will build a new tower in downtown OKC starting in 2010 and will take 2 years to complete. They are waiting until 2010 to make the announcement after MAPS III passes just like Devon did with the Ford Center vote. They will be an iconic tower near core to shore that will rival the Devpn building in height and style. Then they will work with American Fidelity to buy the current Devon tower and remodel it into a Class A property.

When CHK moves into their new tower in 2012 (2 years construction) they will open Oklahoman City Polytechnic at the current CHK campus. Meanwhile, Sandridge will buy Anadarko Petro and move them back to OKC which will fill up the old KM building.

That is my vision of the future for OKC.

Sounds good to me. Oklahoma City Polytechnic = OSU-OKC?

[Spartan]

This thread cracks me up.

[Kerry]

Oklahoma City Polytechnic - I was think more along the line of Georgia Tech or California Polytechnic but private like Ivy League schools or Stanford. Pure science and engineering.

Just go with it Spartan - it's fun.

[andy157]

What university? Would UCO ever move out of Edmond into the Chesapeake campus? That would be interesting. Whatever it takes to get CHK downtown is a good thing. Although I doubt they move, especially if they are building up the area. And with a potential commuter rail stop at NW 63rd just east of the campus it could be one of OKC's largest future transit-oriented developments.

Yes, UCO is going to move into the Chesapeake campus. The move will be completed in time for the fall of 2020 classes. UCO will become the University of Chesapeake Oklahoma. This is a done deal.

[jbrown84]

I was thinking the other day, assuming that CHK's plans include residential and retail, if they were to go under or be sold, the retail and residential would keep the area afloat and the buildings could be bought up individually by smaller companies. Hopefully it doesn't come to that, though.

[metro]

Or hopefully they will build the retail and residential soon