14 story building planned for Norman

[Pete]

Norman rising: Tower with Class A office space, condos planned for city by Kathleen Norris Park
Special to The Journal Record
10/13/2006 NORMAN – Precision Builders is bringing two new projects to Norman provide both retail and Class A office facilities – Norman Tower and Madison Square.

Norman Tower will be among the tallest buildings in Norman, with 14-plus stories at the northwest corner of West Lindsey and Interstate 35, overlooking the South Canadian River.

“We wanted it to be taller than the weather center,” said Sassan Moghadam, president of Precision Builders.

The 350,000-square-foot Norman Tower will cost about $50 million. The first and second floors will have a restaurant overlooking the water feature just outside the patio. A bridge will lead over the water into the property. The designers have worked to create an attractive place for both business and convenient living.

“We want to preserve as many of the great trees on the land as we can,” Moghadam said. “There are some beautiful, tall trees there.”

The first and second floors will have some retail as well as the restaurant. The four top floors will be sold as condominiums, or lofts. Those will provide corporate clients with a place for their visiting executives and will serve as a home for some who come for longer periods, which is something not currently offered in Norman. The lofts will be accessible through a separate lobby. Norman Tower will also have an attached four-story parking garage with a helipad on the roof.

“A swimming pool and a private clubhouse with a physical fitness center for the lofts will be on top of the 14th floor,” Moghadam said. “So the clubhouse actually makes it 15 stories, doesn’t it?”

Class A offices, which are in short supply in Norman, will take up the other eight floors of Norman Tower.

“With the way the university is growing, the weather center, the big casino, the MG plant, and other corporations close to Norman, we feel we could tap into a market for high-end office space that right now is not being presented here,” Moghadam said.

Spear and McCaleb of Oklahoma City is the civil engineering firm for Norman Tower, making it responsible for the design. It is currently seeing to the rezoning and platting. The Garret Moore Company of Dallas is doing the architectural work. Garret Moore is also the co-developer with Precision Builders. Eric Fleske with Equity Realty will be in charge of marketing and property management for the building.

“We are hoping to break ground by mid-‘07 and anticipate one year construction time,” Moghadam said. “And we expect to be moving people into the lofts by mid-year, 2008.

Madison Square

Madison Square will sit at the corner of Hemphill Drive and NW 24th Avenue. The two-story, $15 million project will offer 100,000 square feet of office and retail space. It will have valuable exposure on the very busy 24th Avenue. Space will be divided into about 45,000 square feet of offices and 55,000 of retail. The size of the condo-offices will vary, depending on tenant requirements.

“Madison Square will provide an affordable yet unique location for small office users,” said Moghadam. “If you have a small business and want to own your own space, there is nowhere to go to in Norman. You would have to make a larger investment to buy an office lot, build a larger building and try to lease out the balance in order to come out OK.

“There is a 3-percent vacancy rate in Norman, and a real need for office ownership of different sizes,” Moghadam said

Retailers to whom visibility and accessibility are important should like the location, between two big retailers: Wal-Mart and Lowe’s.

“Even now before all the stores go into University North Park, Main and 24th is the busiest intersection in Cleveland County,” said Moghadam. “And 24th and Robinson is the third or fourth busiest. The traffic flow will keep increasing with all the development along Robinson and carry the traffic from Main to 24th and Robinson into University North Park.”

Precision Builders plans to break ground for Madison Square during the first quarter of 2007 and complete construction by the end of that year. It’s now in the rezoning and platting stage with the city of Norman. Spear and McCaleb of Oklahoma City will also do the civil engineering work on Madison Square, and Equity Realty will handle the marketing.

Moghadam chose the name Madison after his oldest grandchild, the daughter of his son, Dustin, who works in the Residential Development Department of Precision Builders.

[Nuclear_2525]

no renderings?

[nschmoyer]

That's good news. Vertical is always good in my opinion.

[OUman]

“We wanted it to be taller than the weather center,” said Sassan Moghadam, president of Precision Builders.

And this has to do with the weather center.... how?

[ultimatesooner]

And this has to do with the weather center.... how?

so they can see the tornadoes coming before the weather guys

[Luke]

If the weather center is currently tallest, then the implication is they would want to beat that and be the tallest in Norman. That's what I got out of it. Maybe, maybe not.

[Spartan]

The weather center isn't near being the tallest.

[Luke]

Then, I dunno why they called out the weather center.

[dirtrider73068]

I think right now in norman the vista is the tallest. WHere exact is this corner going to be? west lindsy and 35? There isn't much space there, unless they bought out the trailer park, and the odot place, both of which need to be cleaned up. Then it says a bridge will lead over to the property? Does that mean it will be across the river? Its even dirtier over the river. Those descriptions of where they are going to place the norman tower is confusioning. Last I heard from a coworker is marc heitz bought all that just south of west lindsey, the trailer park, odot place, and was going to make that a huge car lot that wrapped all the way around the entrance ramp so when you exit for highway 9 you will see cars, don't know if its true or not.

[venture]

I believe Sarkeys Energy Center is the tallest building in Norman right now. I know it is slightly taller than the stadium, and definitely much taller than the building with the Vista.

If their description is correct, this is going behind Red Robin and the new Inn going up.

Personally I don't want it in that area. It is going to look very out of place. I would say put it in UNP since it would level out with the Embassy going in.

[dirtrider73068]

That kinda makes more sense, but where is hte bridge going to be that leads to it, there is no water there or anything to cross. I agree that area its going to be out of place. UNP would be agreat place for it.

[Spartan]

Here's a photo of the weather center for you.

[OUman]

so they can see the tornadoes coming before the weather guys

Actually, there's an observation deck (I think it's the 6th floor) in the NWC which allows a 360 degree view of Norman unobstructed. And yes, Sarkeys Energy Center with 15 floors is the tallest building in Norman. I used to look out the windows on the 14th floor all the time, what a view.

[Spartan]

I've always enjoyed the terrace at Sarkeys.

[BG918]

Strange location, but Norman does need more Class A office space and a modern looking tower by I-35 could improve the city's image as far as people just passing through on the interstate. Right now it's just a collection of big box stores, car lots, and chain restaurants. This tower and the Embassy Suites will improve that.

I do wish more Class A office space would also be created in downtown Norman. Not necessarily tall buildings but 3-5 story brick/glass buildings would be great additions to the area of downtown from Flood to around Santa Fe.

[plmccordj]

Any word on whether this is still going to happen?

[traxx]

They have cleared out all the trees on the SW corner of Lindsey and I-35. I'm assuming this is for the same thing but I'm not in the loop and therefore am uncertain. I noticed when driving by the other day that the area had been cleared out.

[BG918]

^ That wasn't the original location was it? That site makes more sense though and will be more of a presence coming down the highway and Lindsey Street right there.

[traxx]

From what I understood in the rest of this thread I thought it was, but maybe I'm wrong.

[bombermwc]

Well that's the lot I was thinking of too traxx. There really isn't anywhere to go on the NW corner because that's highway ramps and restaurants. I'm pretty sure that the lot that is cleared off is the one where they are building. It would fit fine there with the rendering I've seen of it on okmet. it's not a very fat building so the footprint isn't really that big....just parking lot.

[keys diver]

The SW corner is Mark Heitz Chevrolet, the NW was where the 14 story was going (west of Red Robin) My understanding is that it is not going to happen.

[Spartan]

The developer has completed mostly 7-11 projects but I would imagine he's just taking his time. I knew from the get-go if this was ever going to actually happen it would take a while for an inexperienced developer...

[ourulz2000]

Sarkey's Energy Center is about 14-15 stories. The the OU Science Center is about 10-11 stories. And the Vista is about 6 stories. The Weather Center is about 7 stories.