Devon Energy Center

[Pete]

On the site plan included in the press kit, not only was there no connection to The Colcord, it doesn't even look like it will be very easy to walk between the two structures.

The only entry to the tower seems to be through the rotunda or the parking garage, which means from The Colcord you'd have to walk all the way around the tower itself to get in.

[architect5311]

Myriad Gardens Link?

I worked on the Dean A. McGee Center (the space surounding the amphiteater/water stage) several years ago. The project involved turning what was essentially a storm sewer into a functional reception/educational/conference space. The firm won an AIA award for the renovation project. The biggest challenge was figuring out how to deal with all the leaks. My point is the subgrade areas below will be difficult and costly to repair and renovate. Would have opened up a big can of worms for Devon to attempt a direct link to the Gardens.

I did work on a conceptual study for a new at grade entry on the north side of the gardens, which included retail, restaurant, and recreational venues, including the ice skating on a pond. Hopefully all of this and more will come about with the property tax revenue generated by the Devon development.

[CuatrodeMayo]

While I agree that subgrade work is quite challenging and expensive, it's not like Devon doesn't have the money to pull it off.

[metro]

Cuatro, keep in mind the funds that are going to be used for this project, are TIF funds. Devon has not announced plans to use additional funds of their own (although I agree they have the funds to ensure it's completion). I want to say the estimate is that $7.5 million in TIF funds would be raised for the lifetime of this project. For those interested, there is a seperate thread discussing the very topic of the Devon/Myriad Gardens planned renovations. I've actually been somewhat on the ground floor of that project, so I will post updates as allowed.

[Pete]

Do we know for sure the existing tunnel between Devon Tower and MG will be scrapped?

Perhaps that would be addressed with TIF funds.

[metro]

Pete, at the workshop and in other conversations, I heard no mention of a desire to open the tunnel between the two. In fact, I heard quite the opposite. Basically the idea is to create street level foot traffic and quit driving it underground. I think the engineers and planners behind this project are in agreement with that, that has been one of OKC's biggest detractors from spurring more street level retail downtown is lack of foot traffic.

[jbrown84]

Do we know for sure the existing tunnel between Devon Tower and MG will be scrapped?

The existing tunnel with escalators going down to it will be demolished. It is right in the middle of the plaza in front of the rotunda.

[OKC74]

I was in Dallas last weekend, and as I was nearing downtown, and I saw their tallest building...I couldn't help but think to myself "WOW we're going to have something TALLER than that!". Although it's just BARELY taller, it's still exciting to know that we're soon going to have this building towering over the city. But, I'm just as excited to have a NEW high-rise downtown as I am about the height and size of this building. Can't wait!

[David Pollard]

Hey to all. I live far away and have not heard if the current economic and banking crisis is likely to effect the Devon building. Can anyone elighten me?

[lasomeday]

Devon is not financing the building. They have money saved up to pay for it, so don't worry. Devon will build it. Oklahoma isn't hurting as bad as other parts of the country because of the banking crisis. Oil and Natural Gas has helped Oklahoma through it.

[Thunder]

Devon better build that skyscraper to the fullest height presented. It would be a boost if they add just a bit more, to show the strength of Oklahoma capable of going thru national crisis and recession. That itself will prompt people flowing to the state and boost Oklahoma further.

[HOT ROD]

Great point Thunder - and I agree wholeheartedly!

[OKC74]

Any NEW news on the Devon Tower? This threat was hopping for so long...now it's pretty much dead...LOL. But, I suppose it's because all the hype has worn off. I too am a bit concerned with the plans as we see oil prices continue to go DOWN. However, I know Devon has more stakes in natural gas (am I right about this?). Has anyone heard any updates?

[HOT ROD]

I heard/read that Devon closed on the Colcord Hotel a couple of weeks ago.

To me, this is a major indicator of the health of the project. Devon deemed purchasing the hotel as significant due to the potential drop in property value/customer visits to the hotel that construction of the skyscraper would cause.

Since the purchase happened, I would bank 99% or higher that the project will proceed as planned. Devon has the ready cash on hand, and like you said - they are more heavily in natural gas than oil.

I believe they are still adding employees as well, so the skyscraper will still be needed. I only hope that they add some height to beat Houston (hey, only 80 feet would do it).

Anyways, that's my take. I too am waiting on final designs and construction bids. They said they wanted to break ground by 3rd quarter of 2009 - which is July-Sept.

I hope all is on plan and they start 2nd quarter (at least closing off the site and preliminaries). Some have said there has already been surveyers out - so perhaps this might be a reality? (I dont think they would start in 4th qu (since it already begun and it and 1st qu are winter/cold times).

[southernskye]

Will the new building be LEED certified??

[Midtowner]

Any NEW news on the Devon Tower? This threat was hopping for so long...now it's pretty much dead...LOL. But, I suppose it's because all the hype has worn off. I too am a bit concerned with the plans as we see oil prices continue to go DOWN. However, I know Devon has more stakes in natural gas (am I right about this?). Has anyone heard any updates?

Threads on OKCTalk are generally speaking, about the worst indicators possible as to the viability of anything in the world.

[BG918]

Give it some time. The architects can't put together the DD drawings overnight. It takes several months, especially with a project this large. Once DD's are finished the contractor will be hired (if they haven't been already) and bidding for the subcontracted work will begin. I have heard it is between Flintco (partnered with a national company) and another national company. Usually the best sign to look for is when the contractor mobilizes on site (when you see the trailers go up, fencing erected, etc.).

[UnFrSaKn]

I was in Dallas last weekend, and as I was nearing downtown, and I saw their tallest building...I couldn't help but think to myself "WOW we're going to have something TALLER than that!". Although it's just BARELY taller, it's still exciting to know that we're soon going to have this building towering over the city. But, I'm just as excited to have a NEW high-rise downtown as I am about the height and size of this building. Can't wait!

For those who haven't been there... imagine yourself downtown in 2012. Do street view.
Link

Bank of America Plaza.

[OKC74]

Thanks Hot Rod...that is great news, and encouraging!! Glad to have the update.

[Saberman]

There are a lot of things that need to be done before construction begins from the time of the announcement till the time they break ground. The working drawings will be the big hurdle, they can change several times before they are completed. Thought I'd heard they already knew who they wanted to do construction, may be not.

[blangtang]

Any guesses on the low point of oil price that derails this project? $80/barrel maybe?

[Kerry]

I don't think there is a low end. Devon is spread out across 4 or 5 buildings so keeping the status quo is not an option. The only thing that might change is the height since space was added for future growth that might not occur for a while. I heard somewhere about 2 years ago that the energy industry controls their cost to make the break even point at about $25 per barrel. Until there is a viable alternative fuel source I don't think oil will ever see $25.

[metro]

Somehow I have a feeling people are going to ask this question for the next year until they break ground. This isn't a cookie cutter McDonalds, buildings of this magnatude take a lot of planning, implementing, bidding, and purchasing before you can break ground. Let's keep in perspective folks, the announcement was less than 1.5 months ago.

[bluedogok]

It is just another sign of the instant gratification society, most people don't realize how long things actually take....especially dealing with buildings. In fact many clients don't understand it either, as a former co-worker up there used to say when it came to clients and project time lines, most live under the assumption that you could give 9 women 1 month to have a baby instead of it taking 9 months.

I have been working on a 70,000 sf tenant finish-out for 9 months, we spent six months getting the manufacturing/warehouse and offices designed.

[architect5311]

I noticed Pickard Chilton added The Devon World Headquarters project to their website under corporate projects..........

http://www.pickardchilton.com/pagProject.aspx?Group='CORPORATE'&ID=56