First National Center

[Pete]

That's good. I don't mind TIFs and really wouldn't mind it on this to restore the property.

Hopefully they ask for a reasonable amount, they have a lot of leverage right now.

Just by redirecting the increase in property taxes and sales tax back to the developer, that is probably about $20 million over the life of that new TIF.

They could also throw in some from existing TIF #2.

[bchris02]

This is great, great news for OKC.

I'm looking forward to seeing what flag the hotel ends up getting. I've seen many of these types of buildings become Ritz-Carltons or Four Seasons.

[zookeeper]

This is great, great news for OKC.

I'm looking forward to seeing what flag the hotel ends up getting. I've seen many of these types of buildings become Ritz-Carltons or Four Seasons.

Well, rest assured it will have a Ritz-quality lobby!

[UnFrSaKn]

New article from Steve.

[sooner88]

New article from Steve.

First National Center tenants learn building could sell soon | News OK

[ljbab728]

Those are interesting comments by Meg Salyer. I'm not sure what kind of lack of agreement with the city she might be referring to that would be expected unless it is possibly concerning TIF or other incentives.

[zookeeper]

Those are interesting comments by Meg Salyer. I'm not sure what kind of lack of agreement with the city she might be referring to that would be expected unless it is possibly concerning TIF or other incentives.

I was thinking the exact same thing.

Oklahoma City Councilwoman Meg Salyer said city officials are equally surprised by the notifications. Salyer said the city has not been approached by the sellers or the potential buyer about the sale or the effort to evict the remaining retail tenants.

“They are extremely concerned,” Salyer said. “There is no agreement for any of this with the city. I’m hoping for some clarification.”

Huh? "Landlords can only evict tenants after receiving a court order. Before filing an eviction lawsuit, also known as a forcible entry and detainer action, the landlord must provide notice to the tenant."

Pardon them for not having a quiet sit-down with Ms. Sipperly-Sayler before taking care of business.

[jbkrems]

I have a friend who is a tenant in this building (his law firm, that is)... last I heard he is waiting to see what the state agencies do, given some of the tenants are major state agencies, e.g. the Oklahoma Tax Commission, etc.

[Snowman]

I have a friend who is a tenant in this building (his law firm, that is)... last I heard he is waiting to see what the state agencies do, given some of the tenants are major state agencies, e.g. the Oklahoma Tax Commission, etc.

The Tax Commission and other state agencies seem to trend to lower rent offices, if whoever bought it is planning any sort of major renovation, they probably will find a cheaper location. Though wasn't the last potential buyer planning to convert it to a hotel.

[Chadanth]

Those are interesting comments by Meg Salyer. I'm not sure what kind of lack of agreement with the city she might be referring to that would be expected unless it is possibly concerning TIF or other incentives.

You probably want to make nice with the city if you're going to be needing a few (tens) million dollars from them soon.

[jn1780]

You probably want to make nice with the city if you're going to be needing a few (tens) million dollars from them soon.

I think most on the city council would quickly get over it, if it meant finally having FNC turned into something great.

[Urbanized]

As someone who routinely frequents several places in the FNC arcade (I'm having a business lunch today at Cafe 7, and if I wasn't would be eating at the Chinese buffet, which is a post-haircut tradition for me), I'm concerned for their future. But overall this seems to be some great news.

By the way, the attack on Meg is completely unwarranted, especially since we can't be certain right now what caused her to make those comments. I've known her for 20 years and worked very closely with her for a number of those, and there are few people I know who care more about OKC and downtown. Nor have I ever seen her take the type of attitude you are insinuating through your comments.

[bombermwc]

Just hope that it doesn't follow it's historic pattern (like the Tower Theater) of owner after owner promising renovation and changes, only to leave the building with a couple of minor things done and mostly a continuing degradation of the whole property.

[Pete]

Just hope that it doesn't follow it's historic pattern (like the Tower Theater) of owner after owner promising renovation and changes, only to leave the building with a couple of minor things done and mostly a continuing degradation of the whole property.

Except the Tower Theater is actually now in the best possible hands, has an extensive renovation fully funded and in progress, and is close to finalizing leases/deals with some awesome tenants.

I really hope in all those respects FNC DOES follow this pattern and I really think it will.

[DowntownMan]

I'm curious what cafe 7 will do. I think they have a great location but with park ave under construction and this about to begin...it's hard to see them staying there as it will be a mess to get to id assume.

Doesn't the park side building have available space for a restaurant? That might be a good new location if they had to move.

[Pete]

I'm trying to find out if Cafe 7 was given notice along with the other tenants.

It would be nice to have it there during construction, but that may be unrealistic given the scale and complexity of the work this is on the horizon.

[Bellaboo]

I'm trying to find out if Cafe 7 was given notice along with the other tenants.

It would be nice to have it there during construction, but that may be unrealistic given the scale and complexity of the work this is on the horizon.

I think the story in todays DOK eluded to this.

[Pete]

Okay, just had a good conversation with the building manager at FNC, and here is the status:

- Tenants have been notified that the building will likely sell at the end of July
- At this point, no tenants are being asked to leave
- All tenants with month-to-month leases can be asked to leave with 30 days notice, at any time
- All tenants on longer term leases have clauses that allow lease termination upon 60 days notice, at any time

So, it is possible the building could be completely cleared in 60 days once it's decided to serve notice to all tenants.

[gopokes88]

Gotta crack eggs to make an omelet.

[HOT ROD]

The Tax Commission and other state agencies seem to trend to lower rent offices, if whoever bought it is planning any sort of major renovation, they probably will find a cheaper location. Though wasn't the last potential buyer planning to convert it to a hotel.

Too bad Dowel tower isn't ready to go. That building would be PERFECT for state agencies who want/need to be downtown!!

[Pete]

Too bad Dowel tower isn't ready to go. That building would be PERFECT for state agencies who want/need to be downtown!!

In my conversations with Rick Dowell, he said he could ready a floor at a time pretty quickly.

Since most these tenants won't have to move for almost 4 months at the earliest, that might be enough time.

[Urbanized]

I'm most worried for people like the owner of the Chinese buffet, a longtime downtown merchant. Not sure he'll have the time/money to find a place to land. I stopped in and talked to him today, and since he hasn't been told anything, he is hoping he'll get to stay, which obviously won't be an option.

[Pete]

Although they may be allowed to stay a little longer than others, I'm pretty darn sure Cafe 7 is going to be asked to clear out as well.

[Pete]

BTW, although most of us have been praying for a new, responsible owner with the backing to pull off a full renovation, the reality is that this process is going to be hard to stomach for a while.

The building will certainly be closed and largely lifeless for 2-3 years. I'm sure this will work out fine but through all the ups and downs, at least the place has kept it's doors open and the lights on.

I (and no doubt others) are bound to have a bit of a panic attack when the place goes dark. It will be like a NASA mission where the spacecraft goes behind moon and you just have to wait for it to come around the other side, and hope and trust that it will.

[okatty]

BTW, although most of us have been praying for a new, responsible owner with the backing to pull off a full renovation, the reality is that this process is going to be hard to stomach for a while.

The building will certainly be closed and largely lifeless for 2-3 years. I'm sure this will work out fine but through all the ups and downs, at least the place has kept it's doors open and the lights on.

I (and no doubt others) are bound to have a bit of a panic attack when the place goes dark. It will be like a NASA mission where the spacecraft goes behind moon and you just have to wait for it to come around the other side, and hope and trust that it will.

Great analogy.