Will Rogers World Airport - Eastside Commercial Development!

[Jeepnokc]

The word from the owner of the Valero across the highway is some type of convenience store will be built there. However, it is still a month after the last post and the demo debris is still sitting there.

[Zuplar]

Yeah it doesn't seem as though they have gotten in a hurry getting it built.

[bombermwc]

That's what I was thinking. And don't give me any lame crap about "the economy" or whatever, because it's just not an excuse here...and really anywhere now. But I sort of feel like this was a project that blew a lot of smoke, but never really had any plans to actually move ahead. We can't even get the city to get Portland completed in any reasonable amount of time.

[Zuplar]

Seems like a lot of the construction lately has been slow going.

[adaniel]

That's what I was thinking. And don't give me any lame crap about "the economy" or whatever, because it's just not an excuse here...and really anywhere now. But I sort of feel like this was a project that blew a lot of smoke, but never really had any plans to actually move ahead. We can't even get the city to get Portland completed in any reasonable amount of time.

Whoa there! Lame crap about the economy? Sorry you are so dismissive about major forces that have serious implications for everything you do. May want to brush up on your economics there.

[bombermwc]

What i mean, is how so many developers would slow down or hault projects in Oklahoma, with that as the excuse. Even though we had the strongest economny in the country through all that mess. So here, it's a load of bull. Not to mention that things have been on an upswing for quite some time. Inflation has been kept to MINUTE levels, unemployement is high, but is lower than it has been in quite some time, sales reports are up, home prices are going back up, etc. So yeah, i'd say it's a bunch of bull to claim that at this point.

[catch22]

What i mean, is how so many developers would slow down or hault projects in Oklahoma, with that as the excuse. Even though we had the strongest economny in the country through all that mess. So here, it's a load of bull. Not to mention that things have been on an upswing for quite some time. Inflation has been kept to MINUTE levels, unemployement is high, but is lower than it has been in quite some time, sales reports are up, home prices are going back up, etc. So yeah, i'd say it's a bunch of bull to claim that at this point.

Unfortunately the national economy plays a role in financing local projects....

[bombermwc]

Except that was my point, the national economy is better than it has been in years!

[flintysooner]

When the national economy begins to decline as it did in 2007-2008 the first thing that happens is that the lending requirements begin to tighten. At first maybe its more "national credit" tenants and more signed leases for longer terms. Eventually it gets to where the loan to value is less which requires more capital on the part of the developer. Then the smaller national credit tenants begin to drop out. That, in turn, requires a change in the anchor leases because usually there is one or more co-tenancy provisions. That, in turn, leads to lower rent demands by those who remain and that, in turn, makes the cash capital requirement even greater.

At some point either everyone drops out or the capital requirement versus the return from declining rents makes the project unfeasible.

[Jeepnokc]

They were clearing off the demo debris today at 104 and i44 today. Got about half of it gone. Hopefully rest will be gone tomorrow

[Zuplar]

Drove by the other day and still looks to be a bunch of debris there. Seems like they aren't in a hurry.

[Praedura]

Lariat Landing


Ok, well there's a good overview of this project here:

Greater Oklahoma City Economic Development - Land At Will - 2,000 Acres of Prime Developable Land





This is a really huge project.

Seems like it ought to have its own thread. I know -- this thread is already that thread. But I mean, an official one called "Lariat Landing" with the synopsis at the top and the various renderings/maps in a gallery. You know what I mean...

[Bill Robertson]

There is construction starting on the SW corner of 54th and Portland. Anyone know what it's going to be?

[catch22]

There is construction starting on the SW corner of 54th and Portland. Anyone know what it's going to be?

Police Substation with eventual helipad and helicopter hangar.

[Bill Robertson]

That's a pretty good place for the helicopter operations.

[bombermwc]

I heard a lunch meeting a few weeks ago on the radio that included a quick briefing on this. Sounds like they are on schedule, it's just a slow schedule.

[Zuplar]

Anyone know what's going in on portland and 104th? Looks like a water tower.

[Praedura]

There's an article here by Brian Brus of the Journal Record:

http://www.naisullivangroup.com/OKNe...nsrevealed.pdf

This refers to the corridor spanning from Lariat Landing on the west, to the new Crossroad Mall (Plaza Mayor) on the east, with Envision 240 covering all the in between.

Quotes about Lariat Landing:

Lariat Landing is a joint effort between the Oklahoma City Department of Airports
and the Oklahoma City Airport Trust. The redevelopment space, which lies between
SW 104th and SW 54th streets along a realigned S. Portland Avenue, has been designated
for multi-industry development, Kranenburg said.

It will support the airport’s core business of operating a first-class transportation
facility by serving as a transition zone to the interstate. Kranenburg revealed the
Lariat Landing marketing brand Wednesday.

“Our goals are to generate non-airline revenues which will be used to offset airline
charges, thereby promoting air service,” he said. “We want to enhance the strength and
stability of the airport and the region.”

Because the land belongs to the airport, all development will have to be lease-based,
he said, although those contracts could stretch as long as 40 years at a time.

[Zuplar]

Anyone know what's going in on portland and 104th? Looks like a water tower.

Looked up the permit, it's a water storage tank with a booster station. Area is big enough for 3 more future tanks.

[Praedura]

Here's the mother lode of info from flyokc.com:

http://www.flyokc.com/projects/10May...m-%20final.pdf

Appears to be geared largely towards (potential) developers. I'm sure there's some real nuggets in there, but at 255 pages, it's a bear to work through.

[Praedura]

Ok, I've been watching Mark Kranenburg's (Director of Oklahoma City Airports) presentation on Lariat Landing at the 2013 Mayor's Development Roundtable
(full video here: The 2013 Oklahoma City Mayor's Development Roundtable - YouTube)

I was hoping to find his slides at flyokc.com, but I'm unable to. So I went ahead and grabbed them from the video.
I'll place them here for others that might be interested in this.

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[Zuplar]

Thanks for posting that up.

[Praedura]

The 'Retail Village' thing got my interest. Though the whole project is pretty fascinating. This area is going to take many years to develop and fill up.

[catch22]

I contacted the city about Portland Ave. Will be a 4 lane 45mph street. No sidewalks or pedestrian infrastructure provided. All pedestrian infrastructure will be built as buildings are built. So...You will have your Chili's with a sidewalk, then a 75 foot gap of no sidewalk until your next pad development of a McDonald's.

They say they want urban development but I believe it is lip service and I will believe it when I see it. This is going to be another UNP, without the sidewalks.

[Praedura]

I contacted the city about Portland Ave. Will be a 4 lane 45mph street. No sidewalks or pedestrian infrastructure provided. All pedestrian infrastructure will be built as buildings are built. So...You will have your Chili's with a sidewalk, then a 75 foot gap of no sidewalk until your next pad development of a McDonald's.

They say they want urban development but I believe it is lip service and I will believe it when I see it. This is going to be another UNP, without the sidewalks.

That really sucks.

Maybe the person you contacted was mistaken? Or maybe this is not yet set in stone? I hope that it's developed in a smarter manner than that.