First National Center

[Just the facts]

Seriously, Kerry? Please provide evidence that there are 43 restaurants and retailers that have an entrance on the Concourse. They must be very well hidden from sight. I can believe that they may not have sidewalk entrances, but that seems a little suspect.

I walked the whole thing and counted them. With the closing of FNC the number might go down but since most of them relocated to Robinson Renaissance - they STILL don't have a door to the sidewalk. Just for example though - Oklahoma Tower has 4 business (Richie's Grill, Arvest Bank, Park Avenue Salon, and Teena Hicks) on the concourse and no door to the sidewalk AND 3 of those are on the second floor, and the only space they do have with a door to the sidewalk is vacant. Image how alive the sidewalk would be if the only way to get to those 4 businesses was via the sidewalk - and who knows, one or more of them might stay open past 5PM or be open on Saturday. They might also be able to finally lease their one vacant spot.

When I get back next week I walk it again and take a recount.

[soonerguru]

I stand by my statement that the lack of street life in the CBD and even Bricktown has much more to do with the lack of permanent residents than the option to walk underground or above ground from a few buildings. Look at any other city with a lack of full time residential options downtown and the lack of street life is similar. Off the top of my head, Tulsa's sidewalks look completely dead during the day as well as at night and they don't have an expansive tunnel system. It does have a ton of ground floor retail space and pedestrian friendly areas, but lacks residential (for now).

Besides every time I've been in the Underground (during normal weather conditions), I don't see that many people down there. Where are all the people that it is supposedly sucking away from the streets? A tunnel system may not be conducive to street life, but I don't think it is as big of hinderance is it is being made out to be.

Agree, but add to this the stunning lack of street-level entrances to restaurants and existing retail establishments.

[Just the facts]

Agree, but add to this the stunning lack of street-level entrances to restaurants and existing retail establishments.

That should change with the FNC, if (and that is a big IF) they do what they are supposed to do by City ordinance and move the retail to the street. Then 2 years from now people will be asking, "Why didn't we do this all along?"

[PhiAlpha]

Agree, but add to this the stunning lack of street-level entrances to restaurants and existing retail establishments.

Yes, I agree. Regardless of whether the arcade is left in the middle of FNC with businesses operating on the alley side of it, all the street facing retail spaces need to open directly to the sidewalk. Restaurants need outdoor patios, etc. Park looks completely dead due to the fact that there are only 2 or 3 entrances to the arcade and not 10 entrances to the shops.

[Pete]

I suspect the old ground level arcade will be completely gone and that all retail / services will now face Park or Broadway.

[Just the facts]

I suspect the old ground level arcade will be completely gone and that all retail / services will now face Park or Broadway.

Which raises the question - what happens to the skybridge over Robinson (which now won't connect to anything on the FNC side, and the tunnel on the east end - that will allow people to by-pass their retail tenants. I think they have to close them both or they do a dis-service to the people who rent space from them.

[Pete]

The Underground touches FNC only at the far east end which I'm sure won't change.

And I doubt they'll change anything about the skybridge. Will still bring you down right into the west entrance of the building.

[HOT ROD]

I know we all are harping on FNC and Park Avenue, and rightfully so - for ill advised and poorly executed retail. And it appears this will get better with the city stepping in with a MASTER PLAN and the new owner of FNC appearing to be improving the property. I agree with what has been said that FNC improvements will go a long way to defining Park Avenue and the remaining buildings would follow suit.

However, I think some of us have a utopia that just doesn't nor ever may exist in Oklahoma City. In fact, name me ANY central business district outside of NYC or Chicago that is alive and well after the office workers leave. ..... And, even in NYC and Chicago - the CBD areas are more dead than they were during normal business; just not 'completely' dead like in ALL other cities in this country - even here in Seattle which has quite a bit of streetfront retail nearby our CBD.

To expect OKC to buck that and have a fully alive Central Business District 24/7 is placing a huge expectation on a 1.3M metro area - I think those that do are set for continued disappointment despite the city and FNC making a great effort to otherwise make Park Avenue OKC's best retail street.

[mugofbeer]

Denver on any night when it isnt snowy or frigid. You should visit sometime

[Pete]

Yes, I've said several times that Denver is the best model for OKC in almost every respect.

[catch22]

Yes, I've said several times that Denver is the best model for OKC in almost every respect.

Completely agree, culturally also quite similar too.

[HOT ROD]

Funny, I used to live in Denver in the mid-late 1990s during the Telecom boom. You're right, Downtown Denver does have action after office hours with the 16th Street Mall and LoDo, and the CBD does have an even much better mix of residential now than when I was there.

Still, I believe my point was made - we can't expect OKC's CBD to be active/alive 24/7 and I wouldn't call Park Ave a failure if it didn't live up to that. ...

(but I think we can expect the rest of downtown to be hoppin most the time, ala Denver). ..

[mugofbeer]

I agree for now. OKC needs to build up the CBD far more than it is. There is a lot going on but far more is needed. I think the areas surrounding the Central park down to the river and the Cotton Gin, if done right and hold out for high density, could be the catalyst. We need oil to come back for money to be available for high rise projects.

[Pete]

Streetcar is going to be a game changer. We should see tons more infill as a result.

[bchris02]

Anybody know anything about the state legislature trying to end historic tax credits?

Steve seems to be worried about this and it could potentially kill this deal. He said in his chat last week that the number one threat to downtown is this upcoming legislative session, much moreso than oil. I think this might be what he was talking about.

[skanaly]

Kinda hard to see, but there were people doing something to the windows today

[skanaly]

Kinda hard to see, but there were people doing something to the windows today

[Jeepnokc]

I walked the whole thing and counted them. With the closing of FNC the number might go down but since most of them relocated to Robinson Renaissance - they STILL don't have a door to the sidewalk. Just for example though - Oklahoma Tower has 4 business (Richie's Grill, Arvest Bank, Park Avenue Salon, and Teena Hicks) on the concourse and no door to the sidewalk AND 3 of those are on the second floor, and the only space they do have with a door to the sidewalk is vacant. Image how alive the sidewalk would be if the only way to get to those 4 businesses was via the sidewalk - and who knows, one or more of them might stay open past 5PM or be open on Saturday. They might also be able to finally lease their one vacant spot.

When I get back next week I walk it again and take a recount.

Teena Hicks is open till 6 Monday through Friday and is open till one on Saturdays but I get the point you are trying to make

[ljbab728]

Steve's update.

http://www.oklahoman.com/article/547...rlyAccess=true

Tax increment financing assistance for redevelopment of First National Center is set to get final consideration later this month as buyer Gary Brooks continues inspections of the downtown landmark.
Brent Bryant, the city's economic development projects manager, told the city council Tuesday lenders have approved the proposed change. The First National Center currently contributes $118,000 a year toward the current downtown TIF district — a fraction of the $2.9 million generated by the district in 2016.

The city council is set to vote on the overall package on Feb. 23.

[Pete]

Despite the scare about the legislature cutting back on historic tax credits, this project is still moving forward and Gary Brooks & Co. still expect to close on the sale and start work soon.

[Plutonic Panda]

First National costs higher, pace slower than expected | The Journal Record

[Pete]

First National costs higher, pace slower than expected
Developers worried about historical tax credit, too
By: Molly M. Fleming The Journal Record April 18, 2016 0


OKLAHOMA CITY – Gary Brooks and his development partner, Texas-based Charlie Nicholas, know redeveloping the First National Center will not be an easy task.

But through their due diligence period, they are learning more details about the buildings.

“We went into this with our eyes wide open,” Brooks said. “We know it’s a challenge. It’s taking longer and is more expensive than anticipated.”

Some of those costs are coming from the extensive amount of environmental work, including the two eastern structures that are slated for demolition.

Getting those buildings down without disturbing the surrounding buildings comes with a high cost and pressure as well, Brooks said. He said owners of adjacent buildings have already contacted him, asking how he will remove the structures. The buildings will eventually be disassembled, but he didn’t have exact details on how that would be done.

In the remaining First National Bank building, the elevator system will be replaced, as well as all the infrastructure systems.

“We knew there were extensive environmental problems, but those are bigger than we anticipated,” he said. “The environmental piece is massive.”

Brooks is also concerned about the state Legislature cutting the historic tax credit program. Senate Bill 977 specifically listed the 20-percent tax credit program, but it did not receive any action before the Senate’s deadline to move the bill to the House of Representatives. Brooks said he’s concerned the language terminating the credit could slip into another bill before the Legislature adjourns in May. He said he thinks there’s a remote chance of that happening.

“We also believe that First National Center will be so hard, so challenging, and so expensive that we can’t take any chances,” he said.

Brooks and Nicholas have until June 11 to finish their due diligence and close on the sale.

The building’s sale was approved by federal Judge Stephen P. Friot on Jan. 11. Price Edwards & Co. Vice President Jim Parrack, the building’s receiver, said there are four tenants left in First National Center, and he expects them all to be in new locations within the next few months.

The ongoing ownership battle was set for trial on May 10, but has since been postponed because of several pending motions. A new trial date has not been set.

The center’s legal problems date back almost two years. A lien was filed on the property in August 2014 by New York resident Howard Abselet. He claims he is owed $6 million by former building owner Aaron Yashouafar, who declared bankruptcy.

The building went up for sale in March 2014 and all interested parties were supposed to submit offers by July 2014. The property did not have a listing price. The building is 50 percent owned by FNC I, FNC II and Joshua Paradise Holdings LLC, which are all operated by the Leon and Firoozeh Neman Family Trust. The other half is owned by a company called FNB II; Carla Ridge LLC claims a 99-percent ownership in FNB II, but that is in dispute.

Brooks said despite the building’s problems and the work needed, he and Nicholas have fallen more in love with the historic property.

“We are more passionate than ever about restoring the First National Center to its former greatness, but we have to make sure all of the pieces are aligned and fall into place,” he said. “For such a big project, there is very little margin for error.”

[Pete]

First National costs higher, pace slower than expected
Developers worried about historical tax credit, too
By: Molly M. Fleming The Journal Record April 18, 2016 0


OKLAHOMA CITY – Gary Brooks and his development partner, Texas-based Charlie Nicholas, know redeveloping the First National Center will not be an easy task.

But through their due diligence period, they are learning more details about the buildings.

“We went into this with our eyes wide open,” Brooks said. “We know it’s a challenge. It’s taking longer and is more expensive than anticipated.”

Some of those costs are coming from the extensive amount of environmental work, including the two eastern structures that are slated for demolition.

Getting those buildings down without disturbing the surrounding buildings comes with a high cost and pressure as well, Brooks said. He said owners of adjacent buildings have already contacted him, asking how he will remove the structures. The buildings will eventually be disassembled, but he didn’t have exact details on how that would be done.

In the remaining First National Bank building, the elevator system will be replaced, as well as all the infrastructure systems.

“We knew there were extensive environmental problems, but those are bigger than we anticipated,” he said. “The environmental piece is massive.”

Brooks is also concerned about the state Legislature cutting the historic tax credit program. Senate Bill 977 specifically listed the 20-percent tax credit program, but it did not receive any action before the Senate’s deadline to move the bill to the House of Representatives. Brooks said he’s concerned the language terminating the credit could slip into another bill before the Legislature adjourns in May. He said he thinks there’s a remote chance of that happening.

“We also believe that First National Center will be so hard, so challenging, and so expensive that we can’t take any chances,” he said.

Brooks and Nicholas have until June 11 to finish their due diligence and close on the sale.

The building’s sale was approved by federal Judge Stephen P. Friot on Jan. 11. Price Edwards & Co. Vice President Jim Parrack, the building’s receiver, said there are four tenants left in First National Center, and he expects them all to be in new locations within the next few months.

The ongoing ownership battle was set for trial on May 10, but has since been postponed because of several pending motions. A new trial date has not been set.

The center’s legal problems date back almost two years. A lien was filed on the property in August 2014 by New York resident Howard Abselet. He claims he is owed $6 million by former building owner Aaron Yashouafar, who declared bankruptcy.

The building went up for sale in March 2014 and all interested parties were supposed to submit offers by July 2014. The property did not have a listing price. The building is 50 percent owned by FNC I, FNC II and Joshua Paradise Holdings LLC, which are all operated by the Leon and Firoozeh Neman Family Trust. The other half is owned by a company called FNB II; Carla Ridge LLC claims a 99-percent ownership in FNB II, but that is in dispute.

Brooks said despite the building’s problems and the work needed, he and Nicholas have fallen more in love with the historic property.

“We are more passionate than ever about restoring the First National Center to its former greatness, but we have to make sure all of the pieces are aligned and fall into place,” he said. “For such a big project, there is very little margin for error.”

[Anonymous.]

Maybe I am being overly pessimistic when reading that, but it almost sounds like back pedaling. Really hope everything comes to fruition.

[HangryHippo]

Maybe I am being overly pessimistic when reading that, but it almost sounds like back pedaling. Really hope everything comes to fruition.

I kind of had that same feeling until the last line. I really think he's just hedging his bets and being cautious until it's clear the Legislature isn't going to screw him with on the tax credit issue.