Law firm buys the Cline Hotel in Midtown

[metro]

I hate to see these property owner's keep selling these prime properties to office type businesses instead of mixed use or retail/restaurant space at least on the ground floor. There is so much ground floor space wasted in Automobile Alley to office space and now 10th street.


Scott Adams law firm buys the Cline Hotel
DOWNTOWN UPDATE
The Cline Hotel at 1018 N Harvey, part of Greg Banta's MidTown Renaissance development, is set to become the new home for the Scott Adams law firm in Oklahoma City.

Chad Elmore, broker for Banta Development, said a contract signing for the building's sale is set for May 20. The three-story building is selling for about $800,000.

The Cline Hotel was one of several MidTown flophouses bought over the past two years by Banta as part of an effort to reinvent the district as a residential, office and retail hub complimentary to Automobile Alley and Bricktown. Renovations are already under way at the former Cline Hotel, and Adams is set to move in later this year, Elmore said.

Elmore said renovations continue at Banta's Plaza Court Building, NW 10 and Walker, and an Irma's II restaurant is set to open later this month.

From Staff Reports

[BailJumper]

I personally do not see it as a bad thing. There are many areas of the city/state that if not for business there I would never be exposed to the area and its other offerings.

A building such as the Cline will 'house' potentially many more people than if the same building would have been turned into another overpriced condo. The employees of these buildings often eat and shop in the immediate area. Not to mention customers/clients who do the same.

[jbrown84]

I'm not sure the Cline would work for ground floor retail. Maybe a restaurant. But I would have prefered the bulk of it be residential or even a small boutique hotel.

[BailJumper]

That building is only about 10,000 sq feet. You'd only get 9 tenants at less than 1,000 sq feet per apartment. I'd rather have 30+ employees plus customers/clients daily. Now, across the street at the old Traveler's building, that is certainly large enough to make decent housing out of it and it even faces downtown. Best of all, it's cheaper to buy than the Cline.

[jbrown84]

Yeah, I have thought that it was a bit small for residential, but a hotel would have fit well.

[BailJumper]

Too bad the old Marion (sp) doesn't have the parking the Cline does. I would really love to see the Marion reopened. But without parking it will never happen.

[jbrown84]

Surely Banta will find something to go in there.

[bandnerd]

At least something is in the Cline Hotel. It was an eyesore when empty.

[writerranger]

At least something is in the Cline Hotel. It was an eyesore when empty.

That's for sure, bandnerd. In fact, thinking back, it was an eyesore when occupied!

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[bandnerd]

I'm not sure I was around downtown when it was occupied lol. It just seemed...well...seedy.

[BG918]

If Banta (or another developer) would just build a parking garage along Robinson or Harvey near 10th then these properties could be developed easier. That's all it would take, so that the office workers and residents could have a place to park. The people going to the stores and restaurants at the ground level could park on the street, on 10th, or on a side street. I was down there today, plenty of on-street parking around midtown.

[Drake]

[QUOTE=metro;98216]I hate to see these property owner's keep selling these prime properties to office type businesses instead of mixed use or retail/restaurant space at least on the ground floor. There is so much ground floor space wasted in Automobile Alley to office space and now 10th street. [QUOTE]

If you look at Banta's website, this property was marketed as office space and not a mixed use. Most of his properties are being marketed as mixed use, but this one was not.

I'm sure there is give and take with an overall project like this. I'm sure this would help free up capital for other uses.

[BailJumper]

If Banta (or another developer) would just build a parking garage along Robinson or Harvey near 10th then these properties could be developed easier.

I don't see Banta "building" anything. Lets not forget the reality is they are a tax shelter for a car lot.

[Drake]

I don't see Banta "building" anything. Lets not forget the reality is they are a tax shelter for a car lot.

Wow. Some of the attitudes on this board amaze me sometimes. Whatever is being done by the people actually doing it is never good enough.

Since when did Greg Banta get in the car business? Yes, I know that he is partners with Bob Howard. Bob Howard is very wealthy man. Bob Howards auto interests are now part of a publicly traded company out of Houston. I'm not sure what "tax shelters" you are refering to. Yes, I'm sure there are tax advantges for him. It is what makes the world go around. Wealthy people needing to invest their money instead of sitting on it. Is that a bad thing?

Sorry. It just gets to me when here you someone like Greg Banta (who I have never met) takes a risk, starts buying all he can and develops a vision for a long negelected part of town, but somehow he is selfish and just isn't doing it right for some people.

The Cline was for sale, as are some of his other buildings. Buy them. Develop it however you want. Buy a vacant piece of property and build a parking garage.

[BailJumper]

Easy there big fella. Nobody bashed Banta in this thread. I simply reminded people of the reality. Which is that Bob Howard had about 25-million they needed to less the tax burden on and so Banta's efforts in downtown were realized.

I think it's great, lets just not fool ourselves into thinking it is anything more than business.