Branson Landing vs. Lower Bricktown

[Patrick]

Looking at the renderings and planning behind Branson Landing, a new lakeside downtown development in Branson, reinforces my thoughts that Randy Hogan is a suck developer. Bricktown has so much more potential than what's happening in Lower Bricktown. It's people like Randy Hogan who are holding us back.

Anyways, check out Branson's downtown development, which should open next year. It will have a boardwalk along the river, a new convention center, a huge shopping village with major stores, Bass Pro and Belk, a huge hotel, etc.

http://www.bransonlanding.com/

[floater]

Wow. Such a comprehensive plan. What if Hogan did for Lower Bricktown what the McLains are doing for part of original Bricktown? What if upon completion of the pad sites (or before) he could sell to a national developer with more entertainment district expertise?

Bricktown property for sale

By Richard Mize
The Oklahoman

The McLain family that owns a full city block in Bricktown -- and once had plans for a $40 million mixed-use development there -- said Friday they will sell the property at an auction in November.
It took the family 43 years to acquire the property, which includes seven buildings totaling 197,923 square feet, 153 parking spaces and prominent spots including Bricktown Brewery, The Daiquiri Zone and Abuelo's.

It could sell in a second, with the bang of a gavel. Minimum bid: $8 million.

Sperry Van Ness will handle the auction Nov. 15. David Gilmore of Sperry Van Ness/Gilmore Auction & Realty and Tim Strange of Sperry Van Ness in Oklahoma City will lead the sale.

"We feel like we've done a pretty good job managing it, as far as the local restaurants and regional restaurants we've attracted," said Scott McLain, who owns the property with his brothers, Rich and Mike. "It's moved beyond our expertise. It's time for a national owner to come in."

The timing is right, he said, with property values on the rise and investment capital "floating around" looking for real estate.

Plus, McLain said, "It seems like Bricktown and Oklahoma City are hitting the (national) radar."

Strange said the property should attract bidders both national and local.

"Bricktown is so hot right now. The opportunity for someone to acquire a full block, with income in place, may never happen again," he said. McLain noted that the property could accommodate redevelopment that uses existing structures plus new ones, or additions to existing buildings or some combination.

The property includes the former Bunte Candy Co. factory, a seven-story brick building built in 1929, and the Sherman Machine and Iron Works building, built in 1899. Both are on the National Register of Historic Places.

The McLains once planned a $40 million retail-residential project, "The Factory." Announced in 2003, the project faltered when partner ERC Development backed away.

The nature of the property -- and the importance of the Bricktown entertainment district to Oklahoma City's renaissance -- surely will attract a special kind of bidder.

"I would hope that any new owner that plans to rehabilitate those buildings would come forward and put vibrant businesses there and that the rehabilitation would be sensitive to the historic nature of the property," said Melvena Heisch, deputy in the State Historic Preservation Office of the Oklahoma Historical Society.

Gilmore, the auctioneer, said the $8 million minimum bid is just that -- an amount to get the bidding ball rolling.

"This auction presents investors with the opportunity to buy a high-quality, contiguous property in the hottest area of Oklahoma City, at a price determined by competitive bid, thus achieving true market value," he said. "The existing tenants represent just the beginning of the value this property can return and an upside which is almost unlimited."

Each bid offer must be accompanied by a deposit and must be submitted by 5 p.m. Nov. 14. Top bidders may participate in the open outcry auction at 1 p.m. Nov. 15.

A commission of 1 percent will go to any licensed broker who registers the high bidder and closes on the property.

[BDP]

What is this thing word "plan" that you keep using?

[floater]

What is this thing word "plan" that you keep using?

[Patrick]

That's just it, Hogan had no plan when he was selected for Lower Bricktown. He's simply thrown the development together as companies approach him about developing there.

All first rate developments have a master plan, just as Branson landing does.

Obviously I'm not a fan of Moshe Tal, but one thing that did impress me about him and David Cordish is that they have an overall master plan for the land that showed exactly what was going where.

[Patrick]

By the way, why would he sell Lower Bricktown to a national developer with more experience? He's making a killing off rent down there.

[floater]

By the way, why would he sell Lower Bricktown to a national developer with more experience? He's making a killing off rent down there.

Oh yeah, I forgot ... real estate is profit-making venture. Wishful thinking on my part. The McLains' action reads like it was done in the best interest of Bricktown. Maybe that's a kind analysis. Who knows what's really motivating the sale.

[jbrown84]

Pray to God that Hogan doesn't get his hands on the McLain property. After seeing this Branson Landing development I see more than ever what a poor job Hogan did. It could have been worse, but as we can see, it could have been far better.

[BDP]

It's time for a national owner to come in

Is that really good news? When I think "national", I think more Hooters and IHOPs.

OK, this could go either way, but I'm skeptical. I guess they should be better than Hogan.

[jbrown84]

When you're talking national as far as developers go, you're talking way better than what Hogan gave us for sure.

[BDP]

you're talking way better than what Hogan gave us for sure.

Yeah, that's true. I shouldn't be so skeptical. Hopefully, we'll have a national developer who'll do a nice renovation and won't be afriad of local tenants.

[fromdust]

that makes me so angry. it seems that he could care less about this city.

[BG918]

This is what Lower Bricktown should look like, an urban mix of brick storefronts along the canal and at the street level and office/loft space above. This would have matched the urban "original" Bricktown and created a truly unique area, but Hogan is an idiot and did everything wrong. Bricktown's only hope is a new developer and a wrecking ball...



Imagine the Bricktown canal in between these buildings.

[okcpulse]

If I had the cash on hand, I'd buy all of the properties and bring in the wrecking ball. Thank God most of those structures are easy to demolish. Then will come real urban development.