OAK (formerly Penn Central)

[Pete]

^

Thanks! Very interesting.

I suspect the relatively ramshackle Penn Park (which fronts Penn) and everything north of 50th will eventually be razed for some sort of retail.

But I seriously doubt they would pull down The Registry, which is a nicer complex with two big atriums and stays well leased. Also, it sits back in a residential neighborhood on NW 50th, which is only two lanes with no left turn on Penn.

[rezman]

I was also sad to see this old building razed. If it were located in downtown or midtown, there would have been all kinds of efforts to save it.

[Rover]

^

Thanks! Very interesting.

I suspect the relatively ramshackle Penn Park (which fronts Penn) and everything north of 50th will eventually be razed for some sort of retail.

But I seriously doubt they would pull down The Registry, which is a nicer complex with two big atriums and stays well leased. Also, it sits back in a residential neighborhood on NW 50th, which is only two lanes with no left turn on Penn.

I believe you are exactly correct unless plans have recently changed. The Penn Park site was planned to be retail. The Registry value will go up, most likely, so they may just be trying to capitalize on the longer term value increase created by the new retail development next door. Registry is still economically viable.

[David W]

Anyone know what they are planning for the SW corner of NW Expressway and N. Penn, I received a letter from the developer to vote on 5 houses on my street from NW 50 on NW 52 going west the odd numbers to zone as business, they already have all the houses on N. Barnes from NW 50 north, someone on Facebook gave me this https://agenda.okc.gov/sirepub/agdoc...&itemid=132616

Veritas Development
8908 S. Yale Ave, STE 428
Tulsa, OK 74137

[T. Jamison]

http://www.okctalk.com/showthread.ph...xpressway+Penn

[mugofbeer]

Can anyone PM me an email or FB page for Veritas? They either go by another name or don't have an easy to find listing.

[Pete]

Can anyone PM me an email or FB page for Veritas? They either go by another name or don't have an easy to find listing.

They don't have a webpage.

Just some attorneys out of Tulsa that does a small amount of development.

[David W]

I have additional documents from the developer, they want to block access to NW 50 from Penn if you want to access you have to go to light signal at the business entrance.

[David W]

this is wrong, no longer in the plans

[David W]

http://www.okctalk.com/showthread.php?t=44415

[mugofbeer]

Thanks! Strange not even an email address......

[David W]

http://www.okctalk.com/showthread.php?t=44415

This thread has added documents from the developer!

[Pete]

Plans underway for large-scale development at Penn and NW Expressway

A development group out of Tulsa is seeking to rezone property between NW Expressway and NW 50th west of Pennsylvania Avenue with the goal of creating a 5-story mixed-use development.

Veritas Development is led by Ryan McNeil and over the last several years have acquired several tracts opposite of Penn Square Mall.

The group first purchased the former Salvation Army property and several homes from Chesapeake Energy in 2016.

Last year Veritas also acquired the Penn Park and Registry office complexes, pushing their holdings in the area to just under 12 acres with almost $15 million in total investment.

The developers have held approximately six meetings with local residents over the last year to share their conceptual plan, which calls for re-routing NW 50th through their prposed project and in alignment with a traffic light which also serves 50 Penn Place to the east.

Currently, traffic cannot turn left from NW 50th onto Penn, nor can it turn left onto 50th from Penn.

Preliminary plans distributed to surrounding neighbors show the demolition of all existing structures, NW 50th rerouted to the south, and several new buildings featuring retail and restaurants on the first level, then apartments and offices on levels 2 through 5 above. There would also be several multi-level parking structures.

In 2016, Veritas received approval from the city's planning commission to rezone the old Salvation Army property and homes on Barnes to a Simplified Planned Unit Development (SPUD) which at the time was to feature a Starbuck's with a drive-thru and two more small commercial buidlings. Read our story on that project here.

In early 2017, the Salvation Army building was demolished but the houses on Barnes have remained rented to tenants and well occupied.

Veritas has sent letters to the approxmately 115 homeowners in the Wileman Fourth Addition, a neighborhood bounded by NW Expressway, 50th, Villa and Penn. The letters offer $500 to those who sign a document saying they agree to amending the platted restrictions and re-zoning 5 homes to commercial.

Correspondance has also been sent to homeowners within a 300-foot radius of the Registry building seeking to release covenants regarding height and building setbacks, among others. Veritas is offering $200 to homeowners who sign off.

If Veritas is able to obtain the needed signatures, the next step would be to officially file rezoning plans with the city of Oklahoma City, at which time surrounding property owners – both residential and commercial – will be notified. All meetings of the planning commission are open to the public.

The developers are also planning to continue meeting with surrounding residents to inform and receive feedback.

[HangryHippo]

Hmm. I'm not quite sure what to think of this project.

[Colbafone]

It's absolutely beautiful. Build it it just like that and build it now. This would be a huge boon to the area. More pivotal than the NH Plaza/Classen Curve developments.

[sgt. pepper]

Just wait for all the negative comments and then jump on the bandwagon.

[Colbafone]

Just wait for all the negative comments and then jump on the bandwagon.

Haha, no need to wait. I absolutely love this. I'm already rolling.

[gopokes88]

Isn’t this the sort of project everyone around here is dying for? Looks pretty awesome to me

[HangryHippo]

The location seems off to me, but I love the idea of the project. I do look forward to seeing more detailed renderings.

[Colbafone]

Isn’t this the sort of project everyone around here is dying for? Looks pretty awesome to me

Yes! Not only that, but it's in an area that could truly use a facelift. Between 23rd and Expressway, Penn could use a TON of help. This development could massively spur that, as well as help 50 Penn Place, Penn Square and Belle Isle. Huge huge huge huge impact.

That is of course, assuming it gets built to exactly what those plans show. They're easily adding more office space then what they are tearing down, plus several restaurants and retail floors AND tons of living. And it's dense. Hell. Yes.

[CloudDeckMedia]

The developer is offering $500 per homeowner to amend plat restrictions and facilitate reasoning. Is that a typical tactic on a project such as this?

[jonny d]

How much more re-zoning will this have to go through? I just want as few chances for NIMBYs to ruin it as possible. This would be an awesome development!

[Pete]

Apart from gathering the signatures of homeowners, the developer will have to go through a full re-zoning process with the Planning Commission.

They would likely file for a SPUD outlining the general permissible uses, maximum height, range of materials, etc. The SPUD zoning would follow the usual course of notifying surrounding neighbors, being on the advance agenda for the particular PC meeting, then once approved, would have to be passed by city council.

Since the developers have already spent $15 million, the only way this project works is for them to go dense and build up.


Coincidentally, I live in the neighborhood directly south, although a few blocks away so it's not like I'd have someone in a 5th-floor apartment looking down on my backyard. That will definitely be the case for the closer homes, though.

Personally, I like the idea because it would give me a place to walk. As things sit now, there is literally nowhere I can walk with my dog(s) and then sit outside. The closet thing would be traversing NW Expressway and sitting on the patio at the Cheesecake Factory. I could also go to Whiskey Cake but the only way to get there on foot would be to cross a huge parking lot with no sidewalks anywhere.


It's an interesting idea and I look forward to seeing the plans when they are more fleshed-out. I haven't been going to the neighborhood meetings as I am just outside the notice zone but I'm now on their list and will be sitting in on the future info / feedback sessions.

[Johnb911]

Yes! Not only that, but it's in an area that could truly use a facelift. Between 23rd and Expressway, Penn could use a TON of help. This development could massively spur that, as well as help 50 Penn Place, Penn Square and Belle Isle. Huge huge huge huge impact.

That is of course, assuming it gets built to exactly what those plans show. They're easily adding more office space then what they are tearing down, plus several restaurants and retail floors AND tons of living. And it's dense. Hell. Yes.

Plus, 3 parking garages! Should be right up your alley

[jedicurt]

i'm just excited that they are adjusting 50th to that light... I hate this small stretch of road... so will be much happier with it now