Old Downtown library up for auction

[metro]

As mentioned a few weeks ago, the old downtown library will be up for auction:

City announces today it will auction old downtown library May 31
Posted: Thursday, May 12, 2005
For those who have their heads hidden in books, the City of Oklahoma City put out an all-points bulletin today, indicating that will be auctioning off the old downtown library building.

Located at 131 Dean A. McGee Avenue, the library will be auctioned off at 10 a.m., Tuesday, May 31 in the City Clerk’s office at City Hall.

The 64,530 square foot building has been vacant since late last summer when its books and other inventory were moved to the new Ronald J. Norick Downtown Library at 300 Park Avenue.

The old library was built in 1953 on four lots the city has owned since 1899 to replace the Carnegie Library, which had stood on the same site since 1901.

The city has set the minimum opening bid for building and the lots at $950,000. Entities which wish to bid on the property will be required to submit $10,000 in earnest money.

“This is a straight sale to the highest bidder,“ Oklahoma City Finance Director Cathy O’Connor said. “The new owner will have to comply with zoning and building codes, of course, but we won’t have any special requirements about design or use plans. This property can be converted to offices, condos, retail or whatever the developer envisions.”

On the day of the auction, bidders must appear in person in the City Clerk’s office on the second floor of City Hall at 200 N. Walker with their earnest payments.

The auction will be an open voice bid auction. The purchaser will be required to pay the full price, less the earnest payment, within 15 days of being notified of winning the auction.

The City reserves the right to refuse any and all bids.

[Midtowner]

I hope they level it. It's a dump.

[metro]

Only if they build higher, otherwise I would like to see it renovated into residential. New development is better than vacancy

[ErnieBall]

You couldn't pay me to live there if they renovated it into residential. It's best to either have it used as office space or razed for future development.

[Remey688]

It appears to me that $1,000,000.00 could win the 4 city lots. That might well be a fair price!

[metro]

No one is forcing you to live there. There are plenty of residential choices in the OKC metro. Let the powers that be develop the land for use as they see fit. Its better to re-use the land than to let it sit vacant or raze the building and let it sit.

[metro]

Well folks, the former downtown Library is up for sale again for the 3rd time. This time there is no minimum bid. Should be interesting to see who, if anyone bids on it. I know McDermid was interested last time, but not for more than $500,000 he said.

[metro]

Council OKs library sale talks

By Bryan Dean
Oklahoma City council members voted this morning to let staff negotiate a contract with JJH, LLC to buy the old downtown library at 131 Dean A. McGee.
The city has been trying to sell the 64,530-square-foot building since completing the new Ronald J. Norick Downtown Library in 2004 as a part of MAPS. An auction in May 2005 brought only one bid, which failed to meet the minimum required $950,000.

Assistant City Manager Cathy O’Connor said the company is led by Judy Hatfield, chief executive officer of Equity Realty. Their proposal was for a purchase price of $775,000, but the city is still negotiating details, O’Connor said.

[jbrown84]

Do we know what they plan to do with it?

[metro]

Nope not yet. As you can read in the article. The details are still in negotiation. Another article mentioned it would be finalized in 45 days. I'm guessing since it is a private sector investor (which I'd do the same) don't announce plans until you're serious about acting on them.

[Midtowner]

Do we know what they plan to do with it?

Tear it down I hope.

[metro]

I just got off the phone with Jim Couch's office. They advised me that the "Library" sign on the old library should be coming down soon. I know it can be confusing to visitors, especially since we spent so much money on the new one and for them not to know it's there..... The sign should be down soon, before the contract is finalized on the sale. I know the contract will be finalized in less than 45 days so it will be before then.