Founders Tower

[Patrick]

Okay, I could've sworn they just got through with a renovation at Founders Tower, but a new owners says he's going to do another renovation. Interesting. I will say I think Founders Tower is one of the most unique looking skyscrapers in the city. Glad to see it getting some improvements. I hope the new owner considers upgrading the exterior lighting system. Unfortunately, the flashing light simply haven't been as impressive as they could've been.

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"Founders Tower sells for $4.6 million


9/6/2005

OKLAHOMA CITY (JR) - One of the most recognizable landmarks on the Oklahoma City skyline has new ownership. The United Founders Tower and 7.5 acres of surrounding land were purchased by Founders Tower LLC for $4.6 million. The property at 5900 Moesteller Dr. includes Nikz at the Top and Queen Anne Cafeteria as anchor tenants.
Built in 1963, the distinctive round tower has 178,000 square feet of space and dominates the north Oklahoma City skyline.

Significant plans for renovation of the property are being finalized and should be announced within the next 30 days. Bridgeport Development Group will oversee the renovation, in conjunction with architect Rick Brown of Richard R. Brown and Associates.

The closing at Lawyers Title was handled by Doug Fellrath for the buyer and by Patrick Mee for the seller. Escrow agent was Mary Gardner of Lawyers Title. Financing for the project was provided by Gold Bank; the Bob Sullivan of NAI Sullivan Group brokered the transaction.

Bridgeport Development Group is a division of Bridgeport Holdings. With diverse businesses in construction, development, behavioral health services, publishing, commercial finance and educational Webware, the company has operations in Oklahoma, Arizona, Colorado, Georgia and California. Founded in 1998, Bridgeport Holdings has been designated as one of the 50 fastest-growing companies in Oklahoma."

[Pete]

Sounds like good news to me.

Perhaps they'll restore the old multi-color exterior lighting from the early 70's.

[PUGalicious]

That building needs a lot of work. We looked at moving our offices there, but after looking at the space, we changed our mind. It is certainly a unique building and has a lot of potential, but it hasn't been well cared for and certainly is no longer space in high demand.

[zuluwarrior0760]

I've heard the tower
will be 100% corporate lease
residential

[jbrown84]

what is "corporate lease residential"?

[zuluwarrior0760]

Think "Corporate Apartments"

Devon leases an apartment for an out of town executive
here for a month and then next months, Devon
puts another executive in the apartment for a month.....

Multiply it by 90 units and you have the future of
founders tower.........(The Devon example is of course an illustration)
but I've heard that this is what the owner is planning

[karlanee]

What a coincidence, I looked at that building awhile back for office space too!

Interesting that you say it is to be corporate lease residential. I looked at that building some time ago and told the leasing agent it would make good apartments. They stole my idea!! Just kidding. Actually she had mentioned to me that they had actually proposed several years ago to Baptist Hospital as a residential building for hospital staff and visitors and would probably do another proposal similar in the future.

The only renovation they actually did was some sort of film on the outsides of the windows, according to the leasing agent that I spoke with. And half of it was crappily put on from what I could see. That building is just nasty. Between the food smell from the bottom and the food smell from the top, every office in that place smells of stale bacon grease mixed with bread dough. They are going to have to spend millions to renovate that building.

I looked at probably 5-10 different spaces in there and every one was disgusting. It looks like they haven't done any work since day one.

I'm glad to see it being sold. I hope that the new owners will bring new life to it. It has such great potential and awesome views of the lake and downtown. It really would make very cool condos.

[Pete]

Old, oddly shaped buildings don't lend themselves well to open, modern office layouts.

This was also the big problem with Citizens Tower, so perhaps Founders will be adapted in the same manner.

It's a great location and has great views, no doubt.

[fromdust]

do you think if it goes residential the restaurant at the top will stay in? i would hate to see such an awesome place like nikz leave.

[Pete]

From this article, it sounds like it will remain an office building:




Ready for another makeover
by Brandice J. O'Brien
The Journal Record
9/9/2005

Just 2.5 years after the United Founders Tower underwent an extensive makeover, it will face another one under new owner Jim Meyer. The $30 million project should take two years to complete.
As Founders Tower LLC, which he oversees as managing partner, Meyer bought the northwest Oklahoma City landmark - as well as 7.5 acres of land surrounding the 20-story building - for $4.6 million from Golan Management of Florida. Golan had acquired it in April 2002 for $3.2 million from Hebron Corp. of New Jersey, which had owned the tower since 1996.

"We have a couple of different opportunities that we're pursuing and we'll disclose the final plans within two weeks to a month," said Meyer, who is chairman, president and CEO of Bridgeport Holdings. Bridgeport Development Group, a division of Bridgeport Holdings, is the developer. "We want to bring the building back to life. We want to refine and update the retro look as in fashion and other products."

Rick Brown of Richard R. Brown & Associates, the architect for the project, agreed.

"We want to maintain the same architecture, but everything except the frame of the building will be new," he said. "There's a sense of arrival with an early 1960s style; it's a very good look, even for today. We want a new sense of detail and a new sense of arrival to the building."

Meyer plans to renovate the interior and exterior of the 5900 Moesteller Dr. building, as well as construct a 50,000-square-foot office building and an 80,000-square-foot building that could become a high-end boutique hotel.

Oklahoma-based SpiritBank will be an anchor tenant in one of the new buildings, operating with a full-service bank. Bridgeport Development Group will also have its headquarters in one of the new buildings.

The tower is 50 percent occupied and as the building is renovated tenants will be moved appropriately as to not disrupt the flow of customers. The decision as to whether current tenants including Nikz at the Top or Queen Anne Cafeteria will stay will be determined as plans are finalized.

In early 2003, the tower underwent a $1.08 million renovation that included the remodeling of the building's 20 lobbies. It was then that the building's trademark rainbow lights, which can be seen from Northwest Expressway, were installed - a feature that will be taken down when the latest renovation is complete.

The Bob Sullivan Group has managed the tower for about 2.5 years and will oversee it through the renovations.

Jeff Van Hoose of Van Hoose Construction Co. is the general contractor for the project.

[Patrick]

I wonder why the new owners will be "taking down" the rainbow light system on the tower. I think that's a mistake.

[zuluwarrior0760]

The new owner has heard from several tenants
that they have received negative comments about the
lights.

Most people think they are a joke.....

They were done as a cheap bandaid by the previous
owner who just wanted "something" there before
he sold the building......

He was shown several lighting systems that performed
10-20 times better than the one he purchased....

You cannot even see the lights unless you are in the
immediate vicinity and they just blink and flash......

The original lighting system from the 70s could be
seen whether you were a block away or a mile away......
that is what should be duplicated.....or they should
just flood it in white like they have the last 20 or so years......

[mranderson]

Part of the problem with the skyline in Oklahoma City is lack of color at night. I think we should line the buildings with various colors of neon or a low energy alternative... Including United Founders Tower.

[russellc]

I agree Mr. Anderson. Leadership Square downtown, should be edged in blue neon. With all the facets on the building they would really glow, where now they fade away into the darkness.

[PUGalicious]

I agree Mr. Anderson. Leadership Square downtown, should be edged in blue neon. With all the facets on the building they would really glow, where now they fade away into the darkness.

Are you kidding???

Pardon me while I vomit.

[jbrown84]

Are you kidding???

Pardon me while I vomit.

[Doug Loudenback]

What jbrown84 said.

[zuluwarrior0760]

Go here:
http://www.oklahomacounty.org/assess...TNO=R146091305

Look at the owner's name: Founders Tower Condominiums LLC

So much for it remaining commercial....

From this article, it sounds like it will remain an office building:




Ready for another makeover
by Brandice J. O'Brien
The Journal Record
9/9/2005

Just 2.5 years after the United Founders Tower underwent an extensive makeover, it will face another one under new owner Jim Meyer. The $30 million project should take two years to complete.
As Founders Tower LLC, which he oversees as managing partner, Meyer bought the northwest Oklahoma City landmark - as well as 7.5 acres of land surrounding the 20-story building - for $4.6 million from Golan Management of Florida. Golan had acquired it in April 2002 for $3.2 million from Hebron Corp. of New Jersey, which had owned the tower since 1996.

"We have a couple of different opportunities that we're pursuing and we'll disclose the final plans within two weeks to a month," said Meyer, who is chairman, president and CEO of Bridgeport Holdings. Bridgeport Development Group, a division of Bridgeport Holdings, is the developer. "We want to bring the building back to life. We want to refine and update the retro look as in fashion and other products."

Rick Brown of Richard R. Brown & Associates, the architect for the project, agreed.

"We want to maintain the same architecture, but everything except the frame of the building will be new," he said. "There's a sense of arrival with an early 1960s style; it's a very good look, even for today. We want a new sense of detail and a new sense of arrival to the building."

Meyer plans to renovate the interior and exterior of the 5900 Moesteller Dr. building, as well as construct a 50,000-square-foot office building and an 80,000-square-foot building that could become a high-end boutique hotel.

Oklahoma-based SpiritBank will be an anchor tenant in one of the new buildings, operating with a full-service bank. Bridgeport Development Group will also have its headquarters in one of the new buildings.

The tower is 50 percent occupied and as the building is renovated tenants will be moved appropriately as to not disrupt the flow of customers. The decision as to whether current tenants including Nikz at the Top or Queen Anne Cafeteria will stay will be determined as plans are finalized.

In early 2003, the tower underwent a $1.08 million renovation that included the remodeling of the building's 20 lobbies. It was then that the building's trademark rainbow lights, which can be seen from Northwest Expressway, were installed - a feature that will be taken down when the latest renovation is complete.

The Bob Sullivan Group has managed the tower for about 2.5 years and will oversee it through the renovations.

Jeff Van Hoose of Van Hoose Construction Co. is the general contractor for the project.

[Patrick]

I guess that explains the need for a renovation so soon after previous owners just renovated the building. It also explains th eprice tag on the up and coming renovation. Personally, I have no problem with Founders Tower becoming condos. The tower sits back in a residential neighborhod anyways. The circular tower in Tulsa is residential, if I remember right.

[zuluwarrior0760]

It will also assure it will remain a "high end" locale
instead of falling into disrepair like it has over the
last thirty or so years.....
It sort of fits....this company also owns Newhaven
Homes, a big time residential builder.....
I'm excited about this, as well as what's happening with "The Tower"
at 23rd and Classen......

[Patrick]

With Lakeview Towers being across the street, Founders Tower Condominiums should be a nice fit. I'd still like to see Nikz stay at the top.

[swake]

Yes, The University Club Tower in Tulsa on Riverside is residential, most of the high rises in that area are.

One difference from the buildings in OKC is that the 32 story tower was built to be residential. There is also a second building at the University Club complex, also residential, it's next door but only like 10 or so floors.

[okcpulse]

Part of the problem with the skyline in Oklahoma City is lack of color at night. I think we should line the buildings with various colors of neon or a low energy alternative... Including United Founders Tower.

I have personally sent an e-mail to Downtown OKC with this idea. The people at Downtown OKC forwarded my e-mail to the management of Leadership Square, who responded to my idea. They basically lectured me on how expensive it is to install and maintain neon lighting on Leadership Sqaure, so I suppose that's out of the question.

[mranderson]

I have personally sent an e-mail to Downtown OKC with this idea. The people at Downtown OKC forwarded my e-mail to the management of Leadership Square, who responded to my idea. They basically lectured me on how expensive it is to install and maintain neon lighting on Leadership Sqaure, so I suppose that's out of the question.

It really bothers me how these people think it is acceptable to talk down to intellegent people. Politicians do it to me all the time. Guess what? I know more than they do about politics. Plus. I am not stupid... What an insult to be treated like that.

I would write them back with a rebuttal.

[John]

I have personally sent an e-mail to Downtown OKC with this idea. The people at Downtown OKC forwarded my e-mail to the management of Leadership Square, who responded to my idea. They basically lectured me on how expensive it is to install and maintain neon lighting on Leadership Sqaure, so I suppose that's out of the question.

I bet the people of Dallas were skeptical when the Bank of America tower put the green neon around their building (over 2 miles worth of neon, if I remember right), but now along with the Reunion Tower (and the pegasus atop the Magnolia Building), it has become a landmark of the Dallas skyline.