Widgets Magazine
Page 18 of 127 FirstFirst ... 131415161718192021222368118 ... LastLast
Results 426 to 450 of 3157

Thread: First National Center

  1. Default Re: First National Center

    It says the two parties reached the settlement agreement. Why would they settle and accept the terms if they can't pay it? To answer my own question, it sounds like they've made a lot of agreements they haven't kept. I suppose the key is this: "The settlement contains a provision that the property will be placed in receivership should First National’s owners fail to pay Capmark in a timely manner or follow through with the other terms of the agreement."

    This is a crown jewel downtown and we can all agree something needs to happen. That building deserves so much more than the last few owners have provided.

    The potential with the right owner, with deep pockets, is off the map.

  2. #427

    Default Re: First National Center

    What/Who is inside this building? This is my least favorite skyscrapper in Oklahoma City and Oklahoma wbecause of its deteriorating outside apperance. I hardley ever see lights on at night, and I am just wondering how occupied is this building *concerned face expression*

  3. #428

    Default Re: First National Center

    Quote Originally Posted by SoonerBoy18 View Post
    This is my least favorite skyscrapper in Oklahoma City and Oklahoma wbecause of its deteriorating outside apperance.
    I still think it's the best downtown. It has so much character even in its present state.

  4. #429

    Default Re: First National Center

    Quote Originally Posted by SoonerBoy18 View Post
    What/Who is inside this building? This is my least favorite skyscrapper in Oklahoma City and Oklahoma wbecause of its deteriorating outside apperance. I hardley ever see lights on at night, and I am just wondering how occupied is this building *concerned face expression*
    I know Devon is(was) an occupant but besides that I honestly have no clue; I'm 99.9% sure Pete knows. I like FNC a lot but I would appreciate it even more if they would remodel it, which probably won't happen for a long time.

  5. #430

    Default Re: First National Center

    Quote Originally Posted by KilgoreTrout View Post
    I still think it's the best downtown. It has so much character even in its present state.
    Agreed, but like I said in my previous post, I do wish they would update it without losing its character.

  6. #431

    Default Re: First National Center

    Quote Originally Posted by MDot View Post
    Agreed, but like I said in my previous post, I do wish they would update it without losing its character.
    But how would they do it, I have seen a picture back in the summer when I first joined this site, the top of the tower looks like its crumbling and molding

  7. #432

    Default Re: First National Center

    Quote Originally Posted by SoonerBoy18 View Post
    But how would they do it, I have seen a picture back in the summer when I first joined this site, the top of the tower looks like its crumbling and molding
    That's why I'm not a remodeler, because I have no idea. LOL I know what you mean about the top though, that's the worst part, IMO.

  8. #433

    Default Re: First National Center

    Quote Originally Posted by SoonerBoy18 View Post
    But how would they do it, I have seen a picture back in the summer when I first joined this site, the top of the tower looks like its crumbling and molding
    The appearance of the tower has seen better days but I doubt it's molding at the top. LOL

  9. #434

    Default Re: First National Center

    Quote Originally Posted by SoonerBoy18 View Post
    What/Who is inside this building? This is my least favorite skyscrapper in Oklahoma City and Oklahoma wbecause of its deteriorating outside apperance. I hardley ever see lights on at night, and I am just wondering how occupied is this building *concerned face expression*
    Th tax commission, office of state lands (CLO), and a smattering of state government and law offices are in the building. Otherwise its about 60% empty (and that number will increase once Devon leaves).

    It would take a ton of money, but I would love to see FNC turned into a residential/hotel mixed use project. At this point, it is probably not viable as an office building.

  10. #435

    Default Re: First National Center

    As I've pointed out on another thread, the lack of parking really hurts the prospects of this building.

    Once Devon leaves, it will be largely empty and yet all the parking downtown is already full; going to get worse with a rapidly expanding SandRidge and Continental.

    The proposed parking garages are all on the perimeter of downtown, so that won't help.

  11. #436

    Default Re: First National Center

    I've said it before and I'll say it again... If I win the lottery, I'm buying FNC and it's ON! Top 3 floors will be my personal living space and playground... the rest I will split into some mix of residential/hotel/commercial... maybe some sort of retail on the lower floors even if it's just a restaurant, drug store, small grocery store for supporting the residents....

    Nothing like dreaming!

  12. #437

    Default Re: First National Center

    Quote Originally Posted by Pete Brzycki View Post
    As I've pointed out on another thread, the lack of parking really hurts the prospects of this building.

    Once Devon leaves, it will be largely empty and yet all the parking downtown is already full; going to get worse with a rapidly expanding SandRidge and Continental.

    The proposed parking garages are all on the perimeter of downtown, so that won't help.
    You're right, Pete. While the building was on it's decline, the splitting off of the Main Street Parking Garage from the 1st National properties (early 90's I think?) really was the start of the demise, leading to today's problems.

    I recall some talk in the late 90's by the owners at the time, about the possibility of converting the middle building on Park Avenue, into a parking garage to service the remaining 1st Ntl properties - tower and east building. The idea was to leave to current facade intact, as well as the ground floor retail space, and install a parking garage in the rest of the building, perhaps even adding more floors. It could happen - just takes money. Lots of money.

    I don't think the property will be viable without a parking solution. Hope that's not the case...

  13. Default Re: First National Center

    Quote Originally Posted by MikeOKC View Post
    This is a crown jewel downtown and we can all agree something needs to happen. That building deserves so much more than the last few owners have provided.
    I wonder if the city could take it under eminent domain.
    Don't Edmond My Downtown

  14. #439

    Default Re: First National Center

    Quote Originally Posted by jbrown84 View Post
    I wonder if the city could take it under eminent domain.
    Only if they plan to turn it into a park or some similar public use.

  15. #440

    Default Re: First National Center

    Quote Originally Posted by jbrown84 View Post
    I wonder if the city could take it under eminent domain.
    You want the government to seize private property?

  16. #441

    Default Re: First National Center

    Actually, the laws recently changed on this and the government can exercise eminent domain even if they plan to turn the property over to private developers.

    I doubt that it would happen with FNC but it is an option.

  17. #442

    Default Re: First National Center

    I think private enterprise will play its role here.

  18. Default Re: First National Center

    Quote Originally Posted by adaniel View Post
    Th tax commission, office of state lands (CLO), and a smattering of state government and law offices are in the building. Otherwise its about 60% empty (and that number will increase once Devon leaves).

    It would take a ton of money, but I would love to see FNC turned into a residential/hotel mixed use project. At this point, it is probably not viable as an office building.
    I've been saying that for years. Gut the place and start over. For office space, it's done....it's been done. But as we've seen with other failed projects, you have to stop assuming that every residential structure should be upscale. The market is maxed out.

    The place COULD be office space again, IF it's gutted and brought up to current code. But those floors have so little space per floor, it's hard to squeeze something in there. When you gut, you've got the clean slate to do whatever you want...and even only rebuild the floors as you go. Nothing says you have to gut the whole thing at once. But if you look at one of the floors that has been mostly gutted, you can see the major difference to the old floors. We're not talking removing any historic elements, simply removing outdated wiring (that didnt plan for things like computers), removing the crumbling glued-on ceiling tiles. At least you can keep the old incandescent fixtures now with the flourescent replacement bulbs. But is always comes down to money.

    We've seen private investor after private investor come in and fail and put the building further behind. I really feel like the only way the place is going to be saved, is by having the city do something about it like they did with the Skirvin. If nothing else, let the city be the buying force to get out the crappy "investors" and once the place is back on its feet, let someone else buy the city out (without losing money!).

  19. #444

    Default Re: First National Center

    An update by Steve. It's a temporary resolution but certainly not a solution.

    http://newsok.com/bankruptcy-battle-...rticle/3657149

  20. Default Re: First National Center

    Steve's last paragraph points to the main issue. He overpaid and he's not going to be able to recover that. That's the only reason CityPlace hasn't fallen under the same horrible distaster FNC has.

  21. #446

    Default Re: First National Center

    First National has tremendous potential, but it's going to take a Skirvin-like restoration to fix it up. I have no faith in the current owner. He's had this building for several years and has done nothing with it, not to mention the problems he has had in other cities. If it were up to me, I'd wait until the end of the foreclosure proceedings (I don't think he's going to live up to the $12 million settlement), then buy it for much less. Use Eminent Domain if we have to.

  22. #447

    Default Re: First National Center

    the other key is what pete pointed out ... devon employees didn't need parking ... who ever wants to move into their vacated space will ...

  23. #448

    Default Re: First National Center

    Wow! The FNC story has a long ways to go before it is over.

  24. #449

    Default Re: First National Center

    I don't see how this guy is going to come up with the $12 million, as he hasn't even been able to pay basic bills.

    Moreover, why the heck would he WANT to put up $12 mil for a property that probably isn't worth that much and is soon to be mostly empty?


    If some miracle happens and he's actually able to emerge from this mess, then what? He's got a horrific reputation as a landlord for starters, so who the heck is going to rent any of that empty space, let alone a big chunk of it?

    And where are these new tenants going to park anyway?

  25. #450

    Default Re: First National Center

    Can someone please post the full article?

    First National Center owners seek dismissal of Chapter 11 bankruptcy
    By Brianna Bailey
    Oklahoma City reporter - Contact 405-278-2847
    Posted: 07:10 PM Wednesday, April 11, 2012
    OKLAHOMA CITY – The owners of downtown’s First National Center are asking the court to dismiss their Chapter 11 bankruptcy as they struggle to find a lender willing to finance a $12 million settlement with Capmark Bank that would allow them to keep the 33-story art deco tower.

Thread Information

Users Browsing this Thread

There are currently 2 users browsing this thread. (0 members and 2 guests)

Similar Threads

  1. Willa Johnson advances in National League of Cities
    By Spartan in forum General Civic Issues
    Replies: 0
    Last Post: 10-14-2006, 05:57 PM
  2. New Italian Buffet at First National
    By Patrick in forum General Civic Issues
    Replies: 12
    Last Post: 05-09-2006, 01:00 PM
  3. National Memorial Fully Funded
    By Patrick in forum General Civic Issues
    Replies: 1
    Last Post: 07-28-2005, 05:34 PM
  4. Carol Stoops - National Title of her own - USA Today Story
    By BarbaraHarper in forum Current Events & Open Topic
    Replies: 0
    Last Post: 07-24-2005, 10:29 PM
  5. First National Building
    By Patrick in forum General Civic Issues
    Replies: 0
    Last Post: 10-19-2004, 01:32 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Single Sign On provided by vBSSO