First National Center

[Spartan]

Looks like the present FNC owner is going to spend some serious time in jail. They even want his time to start 30 days before the formal sentencing.

This will go down as yet another colorful chapter in the on-going First National saga.


I'm going to go out on a limb here and say that I don't think this guy is going to be able to come up with the $12 million from a jail cell.

At least there will soon be a new owner and we've got nowhere to go but up.


I'm sorry that Capmark will be taking this in the shorts but they were crazy for underwriting such a huge mortgage on this property in the first place. So, they are going to take a big loss and have to sell this property for well less than what they're owed. I bet it will only fetch abut $5 - $8 million.

But if it's bought at that price, it might be possible to finally renovate and still be able to make some money.

As discussed before, I hope the City partners with Capmark to not only get this property into the hands of a responsible owner, but provide incentives for it's redevelopment. This is exactly why the OKC Alliance of Economic Development was formed.

Too bad I believe there's less than a million in the downtown TIF fund left.

[Steve]

Um Spartan, where in the world did you get that info from? That's simply not true.

[Spartan]

There was $20M to begin. I believe that the $5M in MidtownR's latest deal (with a lot going toward the public/private parking garage) brings the remaining total beneath $1M?

Please correct me if I'm wrong.

[Mr. Cotter]

Cafe 7 is planning to open on Wednesday (August 8). Final touches and a good cleaning going on today.

[Pete]

There was $20M to begin. I believe that the $5M in MidtownR's latest deal (with a lot going toward the public/private parking garage) brings the remaining total beneath $1M?

Please correct me if I'm wrong.

It's impossible to know because of the way this information is reported.

There is a status report for this week's OKC EDT meeting for each TIF, and all it tells you is how much they've taken in and how much they've spent. Have no idea how much has been obligated but not yet spent, how much more money will be coming in, etc.

[Spartan]

Pete - you might ask Ed Shadid, because he has been keeping a runny tally, and brought it up during last week's council meeting.

Cafe 7 is planning to open on Wednesday (August 8). Final touches and a good cleaning going on today.

Woot woot!!!

Unfortunately I just saw them put their hours on the door, and correct me if I'm wrong (I only got a 5 second glance) but I think it said they close at 2:30???? Ugh

[Steve]

Yep. Very limited hours. Kinda sad they aren't willing to attempt breakfast or dinner in that spot....

[Pete]

I'm sure Cafe 7 will expand their hours if they feel the demand is there.

This whole downtown thing is so darn chicken-and-egg circular.

[OKCTalker]

You know that they've eaten breakfast in every spot in the CBD, and made the decision that they can't get necessary market share right away to justify opening earlier. But can you imagine the lunch business they'll have to generate to pay all of the direct costs - rent, debt service, advertising, insurance?

[Mr. Cotter]

I can't immaging this location won't be packed between 11 and 1, with a few stragglers until two. That covers enough other CBD lunch spots, but this is a particularly prime location.

I doubt they ever do breakfast. They don't do breakfast at the other location, it doesn't fit in easily with their current menu system (using the same basic ingredients arranged in different ways to create a variety of items), and none of the other breakfast spots down here are ever very crowded.

I really do wish they were open for dinner, though. Hopefully the hours are expanded soon.

[Spartan]

You know that they've eaten breakfast in every spot in the CBD, and made the decision that they can't get necessary market share right away to justify opening earlier. But can you imagine the lunch business they'll have to generate to pay all of the direct costs - rent, debt service, advertising, insurance?

I wouldn't worry about them doing insane lunch business. Sorensen, the owner (who came down from the OSU fine dining program) has quite a following with the north side Cafe7. I've been in the line in that little parking lot waiting for them to open doors...

They need to be open for dinner. That's where they beat the competitors with Cafe7's impeccable value/quality combination, whereas everybody kinda has that going for them with lunch tbh. Furthermore, they have an excellent beer and wine menu where they also win with value ($4 IPAs on tap, decent glasses of wine, etc) which would be popular with the downtown demographic.

[Pete]

I'm sure they hope to add dinner service, as there is far more profit especially if they sell beer and wine.

Probably just going to ease into things then decide when/if to add dinner down the line.

[lindsey]

I get so annoyed that these places in downtown are not open for dinner and that they are not open on the weekends. ugh.

[dankrutka]

I understand that everyone wants downtown places open for dinner, but I don't think the market is there. I went to Coolgreen's for dinner before a Thunder game, when downtown should be at its best, and there were zero people in the entire restaurant. It was shocking to me.

[Pete]

Also, there are already tons of dinner dining options downtown, and even quite a few in the Central Business District.

The CBD is pretty much a ghost town at night even when the Thunder is in town which is exactly why Cafe 7 is sticking with lunch-only for now.

[mcca7596]

I understand that everyone wants downtown places open for dinner, but I don't think the market is there. I went to Coolgreen's for dinner before a Thunder game, when downtown should be at its best, and there were zero people in the entire restaurant. It was shocking to me.

I honestly don't think most suburbanites that come in for the games know what's in the CBD or much anywhere else downtown outside of Bricktown.

The CBD is pretty much a ghost town at night even when the Thunder is in town which is exactly why Cafe 7 is sticking with lunch-only for now.

All the more reason to convert FNC to residential.

[Pete]

Let's not forget, Vast is going to be an amazing addition to CBD dining, offering something not found anywhere else in town.

Flint with it's awesome new patio is a big addition as well.

And eventually, we'll get a nice restaurant in the Myriad Gardens, so these will be three huge new options.


Something in the CBD has to be unique otherwise you just aren't going to draw a lot of people towards office buildings that go dead after 6PM.

[ljbab728]

You're right, Pete. They have to be destination restaurants and not just someplace to eat for someone who's already in the area.

[Spartan]

I get so annoyed that these places in downtown are not open for dinner and that they are not open on the weekends. ugh.

Is Cafe7 sticking with M-F?

[Mr. Cotter]

You're right, Pete. They have to be destination restaurants and not just someplace to eat for someone who's already in the area.

I would come down for dinner to a restaurant in the old vault.

[Teo9969]

We need entertainment options in the CBD too. Restaurants are great, but we need something for them to do after they eat. A couple comedy clubs would be awesome in the CBD.

[kevinpate]

A couple of comedy clubs in the CBD alone?

Do we even have a couple of comedy clubs in the metro anymore?

[Pete]

For years I worked in the downtown L.A. CBD where in that core there is only offices, a few hotels and a few restaurants and services that are aimed at downtown workers. After 6PM that area is a ghost town even though it's completely ringed by residential, tons of retail and restaurants and a massive entertainment complex in L.A. Live.

By definition, a central business district is for offices and therefore it's never going to be a fully-functional, energetic neighborhood.

The best we can hope for are some destination restaurants, some nice hotels and a few other things (like the Devon and SandRidge auditoriums or the occasional festival) that will draw some people to the district after hours.

[Teo9969]

A couple of comedy clubs in the CBD alone?

Do we even have a couple of comedy clubs in the metro anymore?

I think we have 3 or 4. Off the top of my head, Stooges (Comedy & Piano Bar) and Looney Bin on Expressway/Rockwell.

[edcrunk]

Mc Salty's Pizza. 30th n ghetto... (i can't remember which street) does some comedy stuff too