OG&E Energy Center

[Pete]

Clayco doesn't have any money and aren't really developers.

They were brought in by OG&E as front men for their new HQ, to deflect heat from the Stage Center controversy and from the fact they are moving into very opulent new space while asking for a big rate hike (with more of those to come, as is inevitable).

I'd be thrilled if they even do the residential tower on the north parcel. They no doubt are trying to get investors for that piece and trying to bridge the gap with TIF funds. They may be able to get investors for the south parcel too, but I'm not holding my breath.

Even if they acquire the south parcel, someone will develop that land. They'll have to sign an agreement with OCURA to develop it on a certain timetable and if they can't perform, the remaining property won't be transferred and we'll put out a new RFP where people don't have to compete against a company who is backed by the Chamber and had a year's head start.

[Spartan]

Clayco doesn't have any money and aren't really developers.

They were brought in by OG&E as front men for their new HQ, to deflect heat from the Stage Center controversy and from the fact they are moving into very opulent new space while asking for a big rate hike (with more of those to come, as they always do).

I'd be thrilled if they even do the residential tower on the north parcel. They no doubt are trying to get investors for that piece and trying to bridge the gap with TIF funds. They may be able to get investors for the south parcel too, but I'm not holding my breath.

Even if they acquire the south parcel, someone will develop that land. They'll have to sign an agreement with OCURA to develop it on a certain timetable and if they can't perform, the remaining property won't be transferred and we'll put out a new RFP where people don't have to compete against a company who is backed by the Cha---- Junta and had a year's head start.

Fixed it for you. But spot-on.

[Pete]

I talked to several local developers who decided not to bid on the RFP for the south parcel.

Notice that the only other company that did was Milhaus, which is out of state. That's pretty telling.

If there was a legitimate and fair RFP process for that parcel, you'd have plenty of people lining up. Especially if the City is willing to sell the land for a fraction of it's fair market value; as in Clayco's 'winning' proposal they only planned to pay $13 per square foot while at the same time REHCO was asking the City to pay $168 per SF for their land right across the street.

[Laramie]

Saw something tonight on NewsChannel4 @ 10 p.m., about the $193 million 27 story OG&E Headquarters with 5 story parking garage and a 25 story - 500 unit apartment building with Clayco spokesman Larry Chapman. It went before the DDRC with construction to begin in a couple of months.

[ljbab728]

Saw something tonight on NewsChannel4 @ 10 p.m., about the $193 million 27 story OG&E Headquarters with 5 story parking garage and a 25 story - 500 unit apartment building with Clayco spokesman Larry Chapman. It went before the DDRC with construction to begin in a couple of months.

Yes, I saw the same thing. There was no new information there.

http://kfor.com/2015/03/19/new-oge-t...00-apartments/

[Pete]

It was approved as presented.

But by far the bigger issue is the TIF and that is further complicated by all the convention center mess.

A new south CBD TIF has been proposed but that was to not only serve this project but also the convention hotel and garage. Now, it's very likely both of those will fall outside the boundaries of the new TIF, so I"m sure they are re-thinking all of this.

And, I believe they are going to encounter real opposition to such a new TIF anyway.

They should be able to negotiate Clayco down and use the current downtown TIF, if they decide such a award is justified. And ultimately, even that will have to pass City Council.

[Naptown12713]

After reviewing photos of Birmingham, AL's skyline, I really started to since that the OG&E Center will look very favorable to this building in BHAM called the Regions Harbert Plaza:

http://www.bizjournals.com/birmingha....html?page=all

Saw something tonight on NewsChannel4 @ 10 p.m., about the $193 million 27 story OG&E Headquarters with 5 story parking garage and a 25 story - 500 unit apartment building with Clayco spokesman Larry Chapman. It went before the DDRC with construction to begin in a couple of months.

[Pete]

Yesterday, I noticed there were for sale signs in front of the small building on the NE corner of Reno & Walker; the one show below as the Dunn law offices.

This is the one property on that block not owned by the City, and in Clayco's RFP response, they mentioned they had it under contract. The other response from Milhaus showed them building around that property.

Anyone know how long that sign has been there?

[Pete]

Yesterday, I noticed there were for sale signs in front of the small building on the NE corner of Reno & Walker; the one show below as the Dunn law offices.

This is the one property on that block not owned by the City, and in Clayco's RFP response, they mentioned they had it under contract. The other response from Milhaus showed them building around that property.

Anyone know how long that sign has been there?

[baralheia]

Google Street View shows a for sale sign from the NA Sullivan Group; imagery date is from October of 2014. Aerial views seem to suggest the sign was placed there sometime between Oct 2013 and May 2014, but it's hard to tell for sure.

[drinner-okc]

La Luna has changed their sign too. from 'tick-tock' to 'thanks for 27 years' Are things moving along?

[Pete]

I understand La Luna was given the option of extending one more year and they declined.

[Pete]

I understand the City has reached a tentative agreement with Clayco for TIF incentives and the matter will soon go before City Council.

Do not know the numbers but the first part of this is just for the OG&E office building and the north parking garage. I suspect the presentation will include what TIF dollars would be provided for the other phases as well.

[Pete]

I understand the City has reached a tentative agreement with Clayco for TIF incentives and the matter will soon go before City Council.

Do not know the numbers but the first part of this is just for the OG&E office building and the north parking garage. I suspect the presentation will include what TIF dollars would be provided for the other phases as well.

[bombermwc]

Hopefully, id hate for this one to go down as one those in history that fails because of this kind of junk. I'm ready to see some cranes downtown again!

[adaniel]

My guess is, after Roy Williams comments yesterday about a lack of real estate in OKC, the city council will want to get this approved quickly.

[HOT ROD]

yes, we need more HIGHRISE real estate in OKC!

Get more cranes!!!

[ChrisHayes]

I, for one, am glad to hear that this is finally progressing.

[dankrutka]

From Steve's chat today:

Based on what I'm observing and hearing, based on things I'm tracking, I see an OGE Energy Center tower getting built. I think it's possible we may still see a residential tower built at the corner of Walker and Sheridan Avenues. I have serious questions about the future development of the south half of the block controlled by the city. I'm not sure we see construction starting before next year.

Why does it sound like there's a question as to whether an OG&E tower gets built?!? And maybe one residential. Glad they hurried up and tore down Stage Center.

[Pete]

Why does it sound like there's a question as to whether an OG&E tower gets built?!? And maybe one residential. Glad they hurried up and tore down Stage Center.

Because Clayco is still asking for tons of TIF money just to do the first phase (OG&E and parking garage).

And no agreement has been reached.

[TU 'cane]

Hm. This is the one project that I believe really stands out, too. Very elegant and classy development, really hope there aren't anymore speed bumps along the way after the TIF discussions.

[Pete]

The OG&E tower will get built in some fashion.

They may need to cut back a bit, but I'm sure it will get done.

Far less confident about the rest of the project.

[jccouger]

Its ridiculous that we even have to told that this probably will still happen. If it wasn't a 100% sure thing stage center should have never been torn down. It feels good to say I told you so, but it will never bring back that theater.

[Of Sound Mind]

Glad they hurried up and tore down Stage Center.

Me too!

[Pete]

Its ridiculous that we even have to told that this probably will still happen. If it wasn't a 100% sure thing stage center should have never been torn down. It feels good to say I told you so, but it will never bring back that theater.

Remember, demolition and what is to be built afterwards are completely separate things.

A demolition permit does not require anything to be built; could never be enforced anyway.


It sucks, but that's the way it is. If there is to be indignation, it should be focused on the ease of obtaining demo permits in the first place, but there is no way to control what will happen after that.