Oklahoma City's future skyline

[PhiAlpha]

Don't forget, the current midfirst location is within the boundaries of the chesapeake empire. CHK already owns almost everything around it, so midfirst likely has a buyer if it wants to move. Defintely wouldnt be much of a surprise to see those buildings painted black with a CHK logo on them in a few years. First fidelity isnt far from CHK either, a little less likely but still possible given that they just bought the atrium towers on Hefner parkway.

[Pete]

One other thing... In just a couple of years downtown will go from being a huge construction zone to vastly improved on many fronts. Here's a quick list of what will come on-line between now and then. The sum total of all this will be extremely compelling to anyone looking for a spot to grow their business or to build a hotel or residences:

• Project 180 will be complete as will the new Myriad Gardens. Virtually every street and several parks will have been completely redone and greatly improved and the new cafe and all other features will be done in the park.
• Devon Tower, rotunda, park, garden building and auditorium will be finished. Restaurant/banquet facilities at the top of the tower, public space in the rotunda and garden wing, restaurants, retail and beautiful open space.
• Colcord Hotel expanded and beautiful new restaurant with outdoor patio facing Myriad Gardens.
• Ford Center renovations / expansion including many new amenities.
• Old I-40 removed. New boulevard underway.
• SandRidge complex complete.
• Continental moved in.
• Convention center underway or even complete.
• Aloft hotel and lots of new apartments in Deep Deuce.
• New Pitman hotel in Bricktown.
• Lots of new development in Midtown, including Mercy site.
• Central Park area cleared with basic landscape.
• Skydance Bridge installed.

[HOT ROD]

Stl, I appreciate your points in trying to level-set everyone but I need to point out a few holes in your analysis/thinking

in all fairness, OKC has a diverse economy and if you even think twice about what you wrote, you might consider rewriting it. You said that it appears OKC is depending only upon oil and gas, but American Fidelity is insurance and MidFirst is in Finance. Both are large (and growing) OKC companies that many suspect may like to build downtown and be part of the synergy that's going on. ...

Another point, since you brought up Charlotte and B o A. What were most if not all of the new buildings that went up in Charlotte? Weren't they also in the finance industry, same as BoA? Why would it be bad if more Oil companies wanted to build towers in OKC? even though, so far that isn't the case yet...

Point is, OKC has growing companies that need more space. AF has already said as much, and surely if AF does indeed build a tower downtown like many suspect, you would think there would be a push by OTHER OKC companies to take on that AAA space that AF is leaving behind. You know, OKC has more than just oil companies as there are numerous middle companies that could take on space and may want to be part of the inner city renaissance once/if AF vacates.

MidFirst Financial is being pushed out of Chesapeake City, so it is only 'natural' to think they also might want to move downtown - at least take on the space vacated by Devon and may eventually also want their own tower. ...

I dont think some of these 'dreams' are that far off base, particularly when you consider the points you brought up as evaluation criteria.

[HOT ROD]

Pete, you left out a few things:

must assume continued retail infill in AAlley, midtown, Film Row, Bricktown, Deep Deuce, and the CBD

also, SandRidge and CC likely will not be finished within the next few years, but to your point - downtown as a whole will likely have a new fresh face in the beginning of 2013; and that MUST be a huge attraction for businesses and new residents to locate there - otherwise, why are we doing it?

[Pete]

Back to MidFirst, they are actually split between two buildings, MidFirst Plaza and Three Grand Park.

One and Two Grand Park are owned by Chesapeake and are located between the two MidFirst buildings -- you really can't even walk from one to the other. And MidFirst owns some land just north of MidFirst Plaza that is completely surrounded by CHK properties.

They are are very big operation.... More than $10 billion in assets, one of the 100 largest banks in the U.S. and the 3rd largest privately-owned bank. They don't get a lot of press because they aren't publicly traded. Plus, they are very conservative, which is why they have remained strong throughout the banking crisis.

In 2009, they acquired a couple of Phoenix-area banks and now have over 20 locations in that community.


I could see Chesapeake buying these two buildings plus the land to complete acquiring just about everything west of the RR tracks, north of I-44, south of 63rd and east of Grand. Then the MidFirst/MidLand companies could consolidate to a large building downtown.

The MidFirst properties are in yellow below, CHK in blue:

[PhiAlpha]

Back to MidFirst, they are actually split between two buildings, MidFirst Plaza and Three Grand Park.

One and Two Grand Park are owned by Chesapeake and are located between the two MidFirst buildings -- you really can't even walk from one to the other. And MidFirst owns some land just north of MidFirst Plaza that is completely surrounded by CHK properties.

They are are very big operation.... More than $10 billion in assets, one of the 100 largest banks in the U.S. and the 3rd largest privately-owned bank. They don't get a lot of press because they aren't publicly traded. Plus, they are very conservative, which is why they have remained strong throughout the banking crisis.

In 2009, they acquired a couple of Phoenix-area banks and now have over 20 locations in that community.


I could see Chesapeake buying these two buildings plus the land to complete acquiring just about everything west of the RR tracks, north of I-44, south of 63rd and east of Grand. Then the MidFirst/MidLand companies could consolidate to a large building downtown.

The MidFirst properties are in yellow below, CHK in blue:

It looks like they are taking part of the roof off of the building on the left. Could be to make it look more like Chesapeake's buildings? Those two are definitely the last dominoes to fall. Should be interesting to see how long it takes

[Pete]

BTW, MidFirst CEO Jeff Records heads a group that owns Nichols Hills Tower in the parking lot of NH Plaza. It's common knowledge that CHK wants to acquire that building because the own everything surrounding it and want to completely renovate the whole area.

I wouldn't be surprised if Jeff and Aubrey don't already have a handshake agreement for all these properties.

But of course, MidFirst would have to build a new home first.

[dmoor82]

Pete,What odds would you give that there would be another skyscraper proposed in the next 5 or 10 years?I'm more than willing to bet OKC see's another one,probably not Devon size!

[dmoor82]

Wasnt there a rendering from some company about a year or so ago,saying proposed N.OKC tower?I seem to remember rumors that tenant was to be Mid-First!Here it is

[Pete]

Yes, I found that rendering on the web a couple of years ago and I think MidFirst may have been kicking the idea around (unsubstantiated) but nothing ever materialized.


As far as a new tower downtown in the next 5-10 years, I think there's a 93.7325% chance we'll see at least one building 30 floors or higher and maybe two or three of that size.

As soon as the financial problems settle down nationwide, you'll start to see more construction, even of speculative space.

[dmoor82]

Thank's for the reply!LOL 93.7325% let's just round that up to 94%!

[KayneMo]

Wasnt there a rendering from some company about a year or so ago,saying proposed N.OKC tower?I seem to remember rumors that tenant was to be Mid-First!Here it is

This is the first I've heard about this! Did this project never materialize? Or is it still planned to be built?

[Pete]

No, nothing ever came of it.

It was from an architecture firm in Edmond and may have just been them having some fun without really having a specific client.

[BDK]

Hopefully with Devon going up and MAPS 3, projects like that will be more along the lines of I-235/I-40, rather than I-44/Broadway.

[SkyWestOKC]

Going to do some connecting of dots. Pure speculation.

There have been a few rumors on this forum of Aubrey and CHK wanting to do some kind of building downtown, despite the campus. They want the MidFirst properties. What if they want to build speculative space, under an agreement to lease the majority of it to MidFirst as a deal to get the two I-44 properties? Just tossing the idea out there that would justify why some have heard CHK rumors downtown.

[CaptDave]

^^ Interesting speculation though and entirely plausible.

[PhiAlpha]

They could also renovate 1st national. It was a bank building at one time and seems to have plenty of space. Probably less likely than them building a new tower but possible

[David Pollard]

Seems doubtful to me: floor heights are too small and, from what I read earlier, the actual renovation cost would probably exceed the cost of a new building of similar size.

Besides, I think that the tone has been set now with new buildings being the benchmark in the city for office space.

[jmarkross]

The key here in OKC is natural gas and it's production and movement and distribution systems. Follow those corporations and you'll get the best information. OKC is/will be the centrally located gas hub of North America. Many things are happeming below the surface...and about to be revealed. The big kick is in electric power generation and transportation systems--trucks, autos. Of course--this is all old news...but...things are going to be happening fast--real soon...

[UnFrSaKn]

I think Steve has a bit of a scoop on SandRidge building a new tower around 300-400 ft. Somewhat of a rumor I just read on Facebook from a person at Dolese.

[Dustin]

I think Steve has a bit of a scoop on SandRidge building a new tower around 300-400 ft. Somewhat of a rumor I just read on Facebook from a person at Dolese.

Saw that as well

[Pete]

I bet SandRidge is at least coming up with conceptual plans to add a new tower so they can move on it if and when they need the space. They have a ways to go to fill their tower and the soon-to-be-renovated Braniff Building, but then again it can take 2-3 years to get something planned and built.

It may even go to the east of the tower, as there have been strong hints that they plan to raze the parking structure that was directly behind the old India Temple building. That would also mean building out a couple of lots just north up Broadway for parking structures.

[UnFrSaKn]

Let's hope their public relations are far improved by the time it ever happens, or I won't point a camera near it unless it's in the skyline.

[G.Walker]

I think Steve has a bit of a scoop on SandRidge building a new tower around 300-400 ft. Somewhat of a rumor I just read on Facebook from a person at Dolese.

Something is in the works, Steve just mentioned that we are likely to get a new mid to high-rise soon, on his blog...

[UnFrSaKn]

Yeah, it was about that blog entry.

Link