OG&E Energy Center

[AP]

Yeah, the Clayco project is only acceptable to JTF if it is flipped with the residential towers fronting the park and the office towers behind them. Me personally, I will be thrilled if this gets built as shown in the rendering. I am concerned that parts of this are going to be scaled back or scrapped altogether due to falling oil prices.

You're concerned about everything in OKC.

[Pete]

OKCTalk - Details revealed for proposed OG&E Headquarters

[Pete]

Clayco, the Chicago developer planning to build a large office and residential project collectively known as OG&E Energy Center, released detailed plans for the first phase of that project, an office building and parking garage to be principally occupied by OG&E.

This first building will be known as OG&E Energy Plaza.

The master plan calls for a mirror image development on the lot directly to the south, plus two residential towers. The OG&E building and north parking garage could start sometime this year, with the rest being built on a yet to be determined timeline.

Since the initial proposal, one significant change is the intent to return California Avenue to vehicle traffic. The street has been closed for decades and is used live entertainment and food tents during the annual Festival of the Arts. The plan now shows a 2-lane street with a small amount of on-street parking and drop-off area.

Also revealed for the first time is the intention to cover the complete north block with a parking structure. The first residential tower would be built on top of the six-level garage, which has one level below ground.

Plans show a plaza on the corner of Sheridan and Hudson to include a water feature, kiosk, trellis and tables and chairs.

The Downtown Design Review Committee will consider approval in their meeting on March 19th.

Clayco is also negotiating with the City and seek an unprecedented amount of tax dollars through a Tax Increment Funding program for this phase and the remainder of OG&E Energy Center.

[Pete]

My big concern is that this office building and garage will get built and since they will have tons of residual parking they can rent out, that the residential tower goes way down on their priority list.

Also, you can see there are only 7.5 floors of spec office space.

Pretty much just a building for OG&E with a small amount of lease space. I'm sure the plan would be for OG&E to grow into that space eventually.

[CaptDave]

Since the initial proposal, one significant change is the intent to return California Avenue to vehicle traffic. The street has been closed for decades and is used live entertainment and food tents during the annual Festival of the Arts. The plan now shows a 2-lane street with a small amount of on-street parking and drop-off area.]

This is unexpected good news. I'm very glad they are doing this but it will make the lost potential of what the boulevard's western entry into downtown could have been even more obvious even though it will only be two lanes at this block.

[bchris02]

I like the office tower, but any TIF should be dependent on the residential tower being built. This city needs to stop letting developers bait and switch time and time again.

[Bellaboo]

You'd think this reopening of California to limited (2 lane) vehicle traffic would be restoring the grid somewhat. Also, if the residential is built on top of the 6 level garage, it'd give it more height, as long as it's not scaled back.

[Pete]

I like the office tower, but any TIF should be dependent on the residential tower being built. This city needs to stop letting developers bait and switch time and time again.

Their initial TIF request is divided up between the four towers. So, they are asking for a certain amount for each.

For the south parcel, they will have a redevelopment with OCURA that would have to meet a certain timetable before ownership would be fully transferred.

[king183]

My big concern is that this office building and garage will get built and since they will have tons of residual parking they can rent out, that the residential tower goes way down on their priority list.

Also, you can see there are only 7.5 floors of spec office space.

Pretty much just a building for OG&E with a small amount of lease space. I'm sure the plan would be for OG&E to grow into that space eventually.

I know the proposal for the south block will have set timelines and milestones per the contract, if it is completed. Is that proposal also contingent on them building the north block as proposed? In other words, if they don't end up building the residential tower on the north block, is the contract for the south block endangered or does the contract only pertain to milestones for the south block?

[jn1780]

It would be an inefficient layout of parking spaces if they don't build the residential tower. Also, the parking garage is being built with a core and a reinforced structure on the northwest corner. So hopefully this added expense would motivate them to actually build it in the future.

[Pete]

I know the proposal for the south block will have set timelines and milestones per the contract, if it is completed. Is that proposal also contingent on them building the north block as proposed? In other words, if they don't end up building the residential tower on the north block, is the contract for the south block endangered or does the contract only pertain to milestones for the south block?

The north block is privately owned and OCURA is not involved, so there wouldn't be any timelines for that portion other than 1) perhaps part of any TIF agreement and 2) development on the south almost certainly wouldn't happen before the north is complete, so therefore the south timelines do force the issue some what.

However, if Clayco merely decides to only develop the north office building and skip the south parcel, that land would then go back to OCURA and a new RFP would be published.

[Motley]

Was the original plan to build residential on parking? If not, does that add height to the residential tower from the current plan of all the buildings being almost the same height?

[David]

Will the residential tower in the south parcel be part of the requirement from OCURA? What happens if Clayco builds the south office tower and then just never gets around to the south residential tower?

I really like the details of the design, I'm glad it'll be something other than yet another glass clad tower.

[jccouger]

The tower looks really amazing, really puts 499 to shame IMO. Also excited about California Ave.

I'm having a VERY hard time believing the residential gets built however.

[Pete]

Will the residential tower in the south parcel be part of the requirement from OCURA? What happens if Clayco builds the south office tower and then just never gets around to the south residential tower?

I'm sure the OCURA redevelopment agreement has contingencies if the full proposal isn't built.

OCURA would likely retain ownership of the parcel under the proposed residential tower and if it wasn't built, could put out a new RFP for development.

[Jake]

The tower looks nice.

[Pete]

BTW, OCURA has a meeting tomorrow and there is nothing about this project on the agenda.

As we previously reported, a new TIF is being planned that would incorporate 499 Sheridan and feed this development, along with the convention center garage and hotel.

It will likely take some time to pull that all together and get approved, and thus any TIF award to Clayco will have to wait until finalized.

[hoya]

I really really like the design of the tower. I like reopening California Ave. I dislike the site plan -- there's a lot of wasted space. I'd prefer if they moved the tower to one corner of the block or another, instead of having it smack dab in the middle. That would allow something else to theoretically get built there in the future. They could move it so it goes right up against California and Hudson, get rid of that little strip of trees, and then if the residential towers are a huge success, you've got room to put another on the corner of Sheridan and Hudson.

I'm concerned about the amount of TIF funding they've requested, and am nervous as to whether the housing will ever get built. But I really really like the look of the tower, and even the parking garage. It's pretty.

[TU 'cane]

Much more excited about this development than 499 Sheridan.
The details in this tower alone will make it a little jewel for OKC.
I'm afraid that the entire west end of the CBD will be "parking garage village" so let's hope they can come through with that residential tower to sit on top of it.
I hope this one gets going sooner than later.

[Urban Pioneer]

This has probably been aforementioned, but the new tower looks like it took significant ques from their current headquarters. At least it strikes me that way when I read about cut stone and granite. Nice materials but pretty old school.

[Just the facts]

Holy cow - this is actually a big improvement and it is almost there. Reconnecting California Ave is huge. It opens up more on-street parking, creates more space for retail, and creates an architecturally significant terminal vista. The only thing they need to do now is move the office building north about 50' and move the proposed residential tower to the corner of Hudson and California, and leave the current 'proposed residential tower' lot vacant for now. Fronting MBG should be a continuous street-wall. If they want to make their money back on the residential they are going to have to offer park views.

[Midtowner]

The TIF amount is obscene and unneeded for a company whose profits are basically protected by the Corporation Commission.

It's not like one of those cases where we need to pay incentive to keep the company from relocating. They're kind of stuck in OKC.

[Just the facts]

The TIF amount is obscene and unneeded for a company whose profits are basically protected by the Corporation Commission.

It's not like one of those cases where we need to pay incentive to keep the company from relocating. They're kind of stuck in OKC.

While I agree, the TIF is really just a bribe to make them build the way downtown design guidelines are written. Otherwise, they would just apply for and receive a rubber-stamp variance for anything they want (see Hines/Devon/Sandridge).

[KayneMo]

I absolutely love the tower and its materiality and intricacy!

Here's another one of Robert Stern's buildings that I love that's going up in New York: 30 Park Place, a hotel/residential tower in Lower Manhattan with 82 floors and will be 937' tall, almost 100' taller than Devon Tower.

[Motley]

There is no reason the residential towers won't be built if the market is truly there. Clayco makes money from building, not from cutting the towers out of the project. If there is no market, all the talk about the vibrancy of downtown and the concerns raised by the tower across the street seem misdirected. Are the people of OKC ready for high-rise downtown housing or not?