Gold Dome

[smackety]

Box says that it will cost too much to renovate the Gold Dome stating $2.3 million, which I believe to be an exaggeration. Yet, to demolish and rebuild something new, would certainly cost as much if not more.

[ShiroiHikari]

You know, I'm really tired of hearing stories like this. And I'm tired of people around here calling everything an "eyesore". You know what I think is an eyesore? Vacant lots with weeds growing on them.

[Plutonic Panda]

I agree 100%, Shiroi

[Midtowner]

Box says that it will cost too much to renovate the Gold Dome stating $2.3 million, which I believe to be an exaggeration. Yet, to demolish and rebuild something new, would certainly cost as much if not more.

Not knowing a thing about renovating a dome like that, $2.3MM sounds on the high side. Lam would have probably turned a profit and been able to fix the place up and run a decent business had she not run off all of her good tenants.

[HangryHippo]

You know, I'm really tired of hearing stories like this. And I'm tired of people around here calling everything an "eyesore". You know what I think is an eyesore? Vacant lots with weeds growing on them.

+1, my friend.

[rezman]

Box says that it will cost too much to renovate the Gold Dome stating $2.3 million, which I believe to be an exaggeration. Yet, to demolish and rebuild something new, would certainly cost as much if not more.

I was thinking the same thing. To demo the Gold Dome and start over with a new development will cost a lot more than it would to restore the place.

[Larry OKC]

It's not a zoning issue, it was a restrictive covenant (deed restriction) placed on the sale from JP Morgan Chase.

https://oklahoma.amcad.com/oklahoma/...t%3A2006141011

Can deeds not be re-worked? Why would they put a restriction like that on it in the first place???

[Mr. Cotter]

That covenant isn't going away. Sellers place restrictions on future use to gain a competative advantage. In this case, by keeping retail banking operations out of that property (and the restriction would apply to any buildings built to replace the Dome), Chase is assured its very close location (22nd and Western) faces less competition.

[bluedogok]

I was thinking the same thing. To demo the Gold Dome and start over with a new development will cost a lot more than it would to restore the place.

The difference is you could do a larger development, more yield from the property and the possibility of making more money.

[UnFrSaKn]

Efforts to demolish Gold Dome in Oklahoma City put on hold | News OK

[blangtang]

Efforts to demolish Gold Dome in Oklahoma City put on hold | News OK

For one month...

[Bunty]

Sell it to a bank.

[kevinpate]

Sell it to a bank.

Why would a bank buy a building that can't be used as a bank?

[Teo9969]

“I really like the building,” Box said. “I'd like to save it. But I feel as if I'm boxed in, I'm in a corner. I'm looking to the city or citizens to help. I bought it at a sheriff's auction. I was the only bidder. It probably wasn't as well thought out as it should have been.”

First off, You're always boxed in.

Second off, No $#!* it wasn't as well thought out as it should have been. That doesn't mean you ought to just get to bring the whole thing down. Maybe if you started the auction like you're supposed to "$1", you could have won the property for half what you paid for it.

[Teo9969]

This is seriously maddening. The building is massive. Any person with an ounce of imagination could come up with something worth investing $5M to $10M into that building that would make the money back in 15 years or less.

It sits on one of the heaviest trafficked portions in the Urban Core and he's crying woe as me.

[Of Sound Mind]

I'm always amazed by all the good advice coming from people with no skin in the game... put up (your own capital to do it yourself) or shut up.

[Pete]

The buzz is that Box never really had much intention of saving that building and is hoping to put in an On Cue.

Now, he's going through a PR dance but it's pretty clear to those in the know that his mind is already set.


If there isn't a big uprising and another buyer found soon, I'm afraid this is going to end very badly.

[MustangGT]

I'm always amazed by all the good advice coming from people with no skin in the game... put up (your own capital to do it yourself) or shut up.

Precisely!!!

[Teo9969]

The buzz is that Box never really had much intention of saving that building and is hoping to put in an On Cue.

Now, he's going through a PR dance but it's pretty clear to those in the know that his mind is already set.


If there isn't a big uprising and another buyer found soon, I'm afraid this is going to end very badly.

Christe Eleison.

There are no words for how asinine that is.

[onthestrip]

I'm always amazed by all the good advice coming from people with no skin in the game... put up (your own capital to do it yourself) or shut up.

Because anyone who did their proper due dilligence would realize that it wasnt worth what he paid. He shouldnt be given carte blanche on a historical architectural asset because he overpaid for it.

Im generally for the property owner to be allowed to decide the best use of a piece of property but there are only a handful of important properties like this and the city/powers that be should see to it that he does a little more work on re-purposing the building. And if not...I guess he will just have to take a loss in his "mistake."

[Of Sound Mind]

Because anyone who did their proper due dilligence would realize that it wasnt worth what he paid. He shouldnt be given carte blanche on a historical architectural asset because he overpaid for it.

Im generally for the property owner to be allowed to decide the best use of a piece of property but there are only a handful of important properties like this and the city/powers that be should see to it that he does a little more work on re-purposing the building. And if not...I guess he will just have to take a loss in his "mistake."

I have no sympathy for him either. And if he ends up stuck with the place "as is" then he deserves what he gets for not doing proper due diligence. My point is that I read all these grand ideas about how we need to preserve these historic structures, yet all those with grand ideas are doing little to find the capital to save these historic "treasures." It's not just about this building; it's also about all the other historic structures that face elimination drawing lamentations from all the historic-building lovers out there who did little to rescue the buildings during the years (and decades) they sat vacant, neglected and generally forgotten until someone else comes along who wants to do something new with the property.

[Chitty]

Heard from Box Talent directly that the roof will be taken off and preserved (stored where I wonder? and for what purpose?), but the building will be demolished. Will that make you pro-dome people happy? Probably not.

[Larry OKC]

That covenant isn't going away. Sellers place restrictions on future use to gain a competative advantage. In this case, by keeping retail banking operations out of that property (and the restriction would apply to any buildings built to replace the Dome), Chase is assured its very close location (22nd and Western) faces less competition.

Interesting. While I can understand a restriction being placed on a buyer, that restriction is passed on to no matter how many owners come and go after, forever? Is there a time limit (sort of like a non-compete clause in a persons contract)??

[kevinpate]

Heard from Box Talent directly that the roof will be taken off and preserved (stored where I wonder? and for what purpose?),

Maybe they could repurpose the gold dome and one of the cargo looking chunks of Stage Center as a historical recollection collection down at the new park, perhaps somewhere near Union Station. They can call that section of the park Same Chit, Different Stay.

[CuatrodeMayo]

The buzz is that Box never really had much intention of saving that building and is hoping to put in an On Cue.

If this is allowed to happen, I'm moving away.