OAK (formerly Penn Central)

[Shortsyeararound]

It is def going to be a nice addition to the city, but like most things it comes years after other cities have similar places. Better late than never.

[EtanEiko]

It is def going to be a nice addition to the city, but like most things it comes years after other cities have similar places. Better late than never.

What a strange measuring stick lol

I'd say with the exception of like FAM and ASA hall of fame, etc. EVERYTHING in almost every city has come after another city already had similar things.

The pace of construction and scale of the project is so incredible and awesome it floors me people can still be meh about or the timing, and "better late than never" definitely gives meh vibes. Sad times we live in people literally cannot just be happy and excited. (period)

[Shortsyeararound]

What a strange measuring stick lol

I'd say with the exception of like FAM and ASA hall of fame, etc. EVERYTHING in almost every city has come after another city already had similar things.

The pace of construction and scale of the project is so incredible and awesome it floors me people can still be meh about or the timing, and "better late than never" definitely gives meh vibes. Sad times we live in people literally cannot just be happy and excited. (period)

Measuring stick?
I am happy for this but as someone that was born and raised here, but in my adult life has lived in Los Angeles and Houston I was meaning that while this is a great addition to our city it is not going to be a transformational development that will take everything by storm. I’m not being “meh”, I am just being a realist. Also, what I implied is that other cities have had these kind of living/working units for over a decade and I am “sad” that it took Okc this long to build one. My opinion, so lighten up.

[unfundedrick]

Measuring stick?
I am happy for this but as someone that was born and raised here, but in my adult life has lived in Los Angeles and Houston I was meaning that while this is a great addition to our city it is not going to be a transformational development that will take everything by storm. I’m not being “meh”, I am just being a realist. Also, what I implied is that other cities have had these kind of living/working units for over a decade and I am “sad” that it took Okc this long to build one. My opinion, so lighten up.

That is still a strange statement. What does living in 2 of the largest cities in the country have to do with anything about this? And who said it would be a transformational development that would take everything by storm? I guess if you're sad that is your right to be so. It is definitely a great development no matter how you want to characterize it and I don't see anyone else here saying they are sad. If OKC had started a MAPS program 50 years ago it would be a very different city today but it didn't so there is no point in being sad about that.

[Shortsyeararound]

That is still a strange statement. What does living in 2 of the largest cities in the country have to do with anything about this? And who said it would be a transformational development that would take everything by storm? I guess if you're sad that is your right to be so. It is definitely a great development no matter how you want to characterize it and I don't see anyone else here saying they are sad. If OKC had started a MAPS program 50 years ago it would be a very different city today but it didn't so there is no point in being sad about that.

Totally misreading and going in a diff direction than I intended. Weird statement- def not a “weird statement”- just an opinion. The only sad part was when I said about it taking this long to get a combo area like this - I am super pro Okc- I just want everything that larger cities have here.

[borchard]

It is def going to be a nice addition to the city, but like most things it comes years after other cities have similar places. Better late than never.

Yeah, I've been wondering WHY it has taken this long to get a development like this in OKC? I think it was 20 years ago(?) that I went to Dallas to take a class. And it was held in an office that was in what could only described as a neighborhood that had been built on the Tollway north of the Galleria. I had never seen anything like it?!? An apartment complex, but with shops and restaurants built on the ground floor of all the buildings?!? WOW! And then a few years later I went to NC to visit my best friend. She had bought a house in Huntersville, a planned community outside of Charlotte. Not only did hers have the same apartments up/business down as the Dallas property, but it was a proper downtown! AND...she lived in a house that was in walking distance of that downtown. WOW! I couldn't wait till OKC built something like these places!...... And here we are, 20 years later. And OAK is the closet thing to those that Ive seen in OKC. I hope it's a hug success.

[Jake]

Reminder that those cities are astronomically larger than OKC and have been that way for a long time.

[SEMIweather]

Reminder that those cities are astronomically larger than OKC and have been that way for a long time.

Seriously. It is a borderline miracle that OKC has made up as much ground in the past 25 years as we have.

[Laramie]

Seriously. It is a borderline miracle that OKC has made up as much ground in the past 25 years as we have.

You described it, a 'miracle.'

You start to notice things like this when you visit other cities. This forum has been ground central for all the latest developments. Pete and posters, keep up the outstanding work.

[BDP]

Reminder that those cities are astronomically larger than OKC and have been that way for a long time.

Not to mention that those came years after other cities had developments that function that way.

Then, of course, there's Europe. lol

[pickles]

Very sad that Oklahoma City didn't get around to something like this before Los Angeles.

lol

[Shortsyeararound]

Astronomical’s Miracle Pickles I just heard will be opening store at Oak with an LA location coming after!

[Rover]

Yeah, I've been wondering WHY it has taken this long to get a development like this in OKC? I think it was 20 years ago(?) that I went to Dallas to take a class. And it was held in an office that was in what could only described as a neighborhood that had been built on the Tollway north of the Galleria. I had never seen anything like it?!? An apartment complex, but with shops and restaurants built on the ground floor of all the buildings?!? WOW! And then a few years later I went to NC to visit my best friend. She had bought a house in Huntersville, a planned community outside of Charlotte. Not only did hers have the same apartments up/business down as the Dallas property, but it was a proper downtown! AND...she lived in a house that was in walking distance of that downtown. WOW! I couldn't wait till OKC built something like these places!...... And here we are, 20 years later. And OAK is the closet thing to those that Ive seen in OKC. I hope it's a hug success.

BTW, Dallas was behind other cities in this respect, too. I visited others in other cities well before the one in Dallas. Unless you are the first, you are always following somebody. The fact is, OKC hasn't always supported very advanced concepts until they are proven elsewhere. We don't have a large capital community willing to fund what they perceive to be riskier concepts. And we haven't exactly been on the radar for big innovative national developers. Plus, OKC demographics don't scream upscale development.

The best thing that can happen to encourage investment in contemporary advanced concepts is for the people to support when we get one like this. There has to be a base that will pay higher rent, shop in more expensive shops, and pay for expensive meals. We don't get nice things unless they can be paid for. So, as they say in Italian road racing, "What's behind you doesn't matter!". What we have failed to do in the past isn't nearly as important as what we are willing to do now. Everyone needs to step up and fill up developments like this and the proposed one in Bricktown and quit whining about how pricy they are. If you want to be big league, don't complain about paying big league prices.

[chssooner]

OKC has proven time and again that if an upscale store is built, it will last here. And they will support it. Hence why an uber-upscale mall, in the right area, will thrive here. Similar to Plano. Something of that level (Legacy West) would do well in NH or Belle Isle, or Edmond, if they would actually allow something like that).

It now will take a developer actually believing the data, and being willing to take a risk. It will payoff here.

[SEMIweather]

It has been mentioned before by other posters in other threads, but this seems like a good time once again to bring up that relative to other cities, the wealthier demographics of OKC are very spread out across the Metro. I personally feel that it is a good thing for the social/political health of the Metro to have more intermingling between different classes, but it definitely makes it more difficult to get upscale projects off the ground because there just isn't really a 3-5 mile radius that is largely upper class. Even with Nichols Hills, once you cross the railroad tracks at Wilshire. you end up in North Highland which is one of the rougher neighborhoods in OKC. Assuming that OAK succeeds, it will be a nice proof-of-concept that should allow for other high-quality developments.

[EtanEiko]

BTW, Dallas was behind other cities in this respect, too. I visited others in other cities well before the one in Dallas. Unless you are the first, you are always following somebody. The fact is, OKC hasn't always supported very advanced concepts until they are proven elsewhere. We don't have a large capital community willing to fund what they perceive to be riskier concepts. And we haven't exactly been on the radar for big innovative national developers. Plus, OKC demographics don't scream upscale development.

The best thing that can happen to encourage investment in contemporary advanced concepts is for the people to support when we get one like this. There has to be a base that will pay higher rent, shop in more expensive shops, and pay for expensive meals. We don't get nice things unless they can be paid for. So, as they say in Italian road racing, "What's behind you doesn't matter!". What we have failed to do in the past isn't nearly as important as what we are willing to do now. Everyone needs to step up and fill up developments like this and the proposed one in Bricktown and quit whining about how pricy they are. If you want to be big league, don't complain about paying big league prices.

LFG!!!!!!!!!!!! *Standing ovation* for this post!

[AlvarezK]

+1

[Rover]

OKC has proven time and again that if an upscale store is built, it will last here. And they will support it. Hence why an uber-upscale mall, in the right area, will thrive here. Similar to Plano. Something of that level (Legacy West) would do well in NH or Belle Isle, or Edmond, if they would actually allow something like that).

It now will take a developer actually believing the data, and being willing to take a risk. It will payoff here.

One of the reasons that a few upscales do well here is that there is little competition for that market right now. It's a matter of at what scale we are willing to support nice things. Is there enough discretionary disposable income to have multiples of nice things here? We shall see. The sheer numbers caution developers at this time.

[stlokc]

It has been mentioned before by other posters in other threads, but this seems like a good time once again to bring up that relative to other cities, the wealthier demographics of OKC are very spread out across the Metro. I personally feel that it is a good thing for the social/political health of the Metro to have more intermingling between different classes, but it definitely makes it more difficult to get upscale projects off the ground because there just isn't really a 3-5 mile radius that is largely upper class. Even with Nichols Hills, once you cross the railroad tracks at Wilshire. you end up in North Highland which is one of the rougher neighborhoods in OKC. Assuming that OAK succeeds, it will be a nice proof-of-concept that should allow for other high-quality developments.

This is such an excellent post, and even though it has been mentioned before it deserves to be set as context every time the discussion veers into "upscale retail" territory. It's something I notice every time I come home. There is no one significant pocket of wealth. It's jarring.

You can drive down certain roads and through certain parts of St. Louis and see huge mansions for literally fifteen miles in a row. Not an exaggeration. You can also find huge swaths of St. Louis that are practically burned out. Never the twain shall meet and that's really terrible for the city in most respects. (See the Ferguson riots as example A) But St. Louis does have a Neiman Marcus and a Saks Fifth Avenue and two Nordstroms. So pick your poison.

Back to OAK. I don't want to derail this discussion but I just wanted to endorse this post.

[Pete]

Press release:

*****

Highly Anticipated Mixed-Use Project OAK Tops Out in Oklahoma City
Latest milestone for the mixed-use district sets the stage for a September 2024 grand opening

OKLAHOMA CITY (August 3, 2023) – OKC-area native Ryan McNeill of Veritas Development announces the topping out of OAK, the 20-acre mixed-use district rising at 5101 North Pennsylvania Ave. in Oklahoma City. This important construction milestone for OAK cements the project’s grand opening date in September 2024. General contractor VINCIT Constructors will host a topping out ceremony on Aug. 11 for project partners and local officials.

“This milestone brings us another leap forward in developing OAK as the new center of gravity for retail, dining and entertainment in Oklahoma City,” said McNeill. “Now that we can see this vibrant mixed-use environment rising around us, we are even more confident that OAK is going to be a game changing experience for this fast-growing market. We are incredibly proud to celebrate OAK’s topping out with the community, and are counting the days until the official grand opening in September 2024.”

OAK’s first phase includes 135,000 square feet of retail, a 132-key boutique hotel, and 320 upscale apartments. The entertainment-driven destination will also include a 7,000-square-foot central green space at the heart of the property, which will be activated with more than 100 community events each year, such as live concerts, pop-up farmers markets and outdoor yoga. A future phase of the project includes 100,000 square feet of loft office space and an additional 85,000 square feet of retail.

An unequaled retail, residential and hospitality experience is taking shape at OAK with acclaimed, first-to-market brands RH, Arhaus and Capital Grille already onboard. Open Realty’s Michael Nagy and Chris Speciale are leading retail leasing efforts, and plan to announce several other best-in-class concepts in the coming months.



Most recently, Veritas and Dallas-based Gatehouse Capital announced that Lively Hotel, a boutique hotel concept by Hilton™, is joining the mixed-use community. As Oklahoma’s first Tapestry Collection hotel, Lively Hotel will include 132 rooms; a 3,050-square-foot bar and restaurant; an elevated amenity deck with a 2,400-square-foot outdoor bar and activated pool area; a fitness center; and over 2,600 square feet of meeting space. At the ground floor, the hotel will feature 13,500 square feet of retail space.

"We are absolutely thrilled to celebrate this major milestone with the topping out of the structure for Lively Hotel,” said Andrea Gossard, Project Executive at VINCIT Constructors. “Our dedicated team, along with our valued partners like Veritas, has worked tirelessly to bring OAK to life as a vibrant mixed-use destination in Oklahoma City. We are proud to be part of this transformative project and look forward to continuing our efforts to make OAK an unparalleled experience for our community.”

Veritas has engaged Mintwood Real Estate as the multi-family development partner to create a first-of-its-kind residential experience for Oklahoma City. OAK’s 320 apartments will have curated interior finishes, including quartz countertops, walk-in closets, and powder baths. The building amenities include a first-class fitness center featuring a kid’s playroom, private work and conference rooms, an entertainment suite featuring a golf simulator and shared kitchen, a resort-style pool and elevated courtyards.

OAK’s topping out ceremony will be held in front of the Lively Hotel on Friday, Aug. 11 at 11 a.m. The culmination of the ceremony will be marked by the raising of the final beam to the pinnacle of the structure, symbolizing its attainment of the ultimate height. This ceremonial beam shall be adorned and autographed by all the esteemed stakeholders and participants, adding a touch of significance to the development milestone.

McNeill is joined by Everett Dobson and the Dobson family as partners in the multi-phase project.

To learn more, visit oakokc.com and follow the project on Facebook, Twitter and Instagram.

###
About OAK:
Nestled within a city on the rise, OAK is a new type of community unlike anything in the region, destined to change the way life is lived in Oklahoma. OAK is Oklahoma City’s comfortable, walkable mixed-use development where more than two miles of sidewalks weave together first-to-market retailers, restaurants with rooftop dining, Class A office space, luxury residences, a boutique hotel, and a central greenspace that is the heart of a district unfurling with opportunity. Here, sprawling live oak trees stretch upward to invite a region, a city and a community to an invigorating weekday-to-weekend destination where living, creating, playing and working in one connected environment is always in full bloom. To learn more about OAK, visit www.oakokc.com and follow on Twitter, Facebook and Instagram.

About Veritas Development:
Veritas Development is a commercial real estate firm that has developed and acquired over 500,000-square-feet of Class A retail, office and hospitality space. Ryan McNeill, founder of Veritas, is credited with spearheading these efforts and is currently applying a New Urbanist approach to OAK, a dense 20-acre experiential mixed-use development in Oklahoma City. The McNeill family has been part of the Oklahoma community for generations, and has interests in banking, oil and gas, and other real estate investments.

About the Dobson Family:
The Dobson family, co-investor in OAK, has been in business in Oklahoma for 85 years and is represented by Everett Dobson. The Dobson family investments include Dobson Fiber, a 5,000-mile fiber optic transport company based in Oklahoma, Oak Tree National golf course in Edmond, Oklahoma and the Oklahoma City Thunder NBA basketball team. The Dobson Family Foundation is also very active in Oklahoma supporting many local non-profit organizations.

About Mintwood Real Estate:
Mintwood Real Estate, founded in 2018 in Dallas, Texas, builds forward-looking and valuable mixed-use and multi-family communities. Mintwood and its entrepreneurial team create distinctive, institutional-quality products that seek to redefine experiences for neighborhoods and their residents. The Mintwood team has built more than 4,000 residential units and more than half a million square feet of retail throughout Texas and across the nation, in addition to facilitating multiple acquisitions, dispositions, and re-zoning successes. To learn more about Mintwood, visit www.mintwoodre.com.

[Pete]

None of these renderings are new but were included with the release:

[Teo9969]

Still saying 100k sq ft of office, so I'd thjnk that office tower is still anticipated to be over 10 stories.

[Pete]

Still saying 100k sq ft of office, so I'd thjnk that office tower is still anticipated to be over 10 stories.

As I recently posted, I talked to them and they still haven't decided how big that building will be.

[catch22]

OAK by catch22, on Flickr

[TheTravellers]

PluPan's gonna lose his mind with all those utility lines/poles, lol...