Chisholm Creek

[Pete]

What is the likelihood they pull this whole project off? Seems rather ambitious.

Confidence is very high this is going to happen, and soon.

They already have the apartment developer lined up for Phase II and have either signed LOI's with some big boys or are very close.

[bchris02]

This is great news. What OKC has needed for a long time. I am looking forward to seeing the first phase of this under construction. Retailers like Crate and Barrel as well as Restoration Hardware definitely seem like perfect fits. It will be very nice to have a Whole Foods on this side of town. This will definitely be a potential game changer for OKC's retail scene.

Any chance of getting a Bonefish Grill in this development?

[Pete]

They are basically working with every large and upper scale restaurant and retailer not already in the OKC area.

I've been told they have lots of great, new places very close to announcing, with many more to come.

They are using brokers from all over the country to market the project.

[NWOKCGuy]

Fogo de Chao, Crate and Barrel and Restoration Hardware will give me a reason to leave the bubble.

[Motley]

This will make OKC on par with other cities when it comes to retail. Awesome!

It reminds me of my experience with Cincinnati. I moved to Cincy in 1992 from Austin and felt it lacked a lot of basic restaurants and retails and developments that I had grown use to. I left Cincy in 1997 still complaining that it was lacking amenities that I thought it should have. Upon returning 5 years later, suddenly it had lifestyle centers and a vast number of new restaurants and projects. It grew up! OKC is about to finally get to where it should have been 5+ years ago.

[Pete]

Basically, this (and possibly Glimcher) would bring to town just about every chain that people have been clamoring for.

The problem with OKC retail has never been about demographics, it's about having one or more lifestyle centers that are necessary for these types of national/regional chains.

[bchris02]

This will make OKC on par with other cities when it comes to retail. Awesome!

It reminds me of my experience with Cincinnati. I moved to Cincy in 1992 from Austin and felt it lacked a lot of basic restaurants and retails and developments that I had grown use to. I left Cincy in 1997 still complaining that it was lacking amenities that I thought it should have. Upon returning 5 years later, suddenly it had lifestyle centers and a vast number of new restaurants and projects. It grew up! OKC is about to finally get to where it should have been 5+ years ago.

Agree 100% That has been my experience coming to OKC from Charlotte. Chisholm Creek looks to finally be a retail development fit for a city on OKC's level. This is very refreshing.

[warreng88]

Phase II would include 450 luxury apartments with retail on the ground floor, plus much more retail and restaurants as well as tons of office space.

Pete, Phase II is broken up into three different areas. Do you what of what you said is going where? The eastern and western most space seem to considerably smaller, but could be equally as important, depending on the tenants.

[Pete]

I believe the Whole Foods, 450 apartments and office buildings would go in the center section.

Not sure about the rest.

[theparkman81]

This is awesome news for OKC.

[NWOKCGuy]

Pete. Do you think there's any chance they're in discussions with Fry's? We desperately need an electronics store.

[Pete]

Pete. Do you think there's any chance they're in discussions with Fry's? We desperately need an electronics store.

My understanding is that other than Cabela's, they are not focusing on any big-box type of retail and Fry's fits in that general category.

However, there are tons of other places along Memorial and I'm sure this development will go a long way towards raising interest in OKC in general.

[Dustin]

Whole foods, Super Target, Walmart, Winco, Aldi all within a mile of each other. There will be no complaining about lack of grocery options anymore in this area.

All the complaining will be about traffic!!!

[NWOKCGuy]

Pete, sorry to go back on this, but I thought I remembered you saying you had heard RH was interested in the Glimcher property. Did they change their mind and are interested in CC now?

[Pete]

Pete, sorry to go back on this, but I thought I remembered you saying you had heard RH was interested in the Glimcher property. Did they change their mind and are interested in CC now?

I said it was REI that was working on a deal with Glimcher.

[onthestrip]

What is the likelihood they pull this whole project off? Seems rather ambitious.

They have their demographics and traffic counts. They have put in the infrastructure/roads and now have their anchors in Cabelas, Top Golf and the hospital. It now wont be as difficult as you think. Several of the parcels I suspect will be easily sold to restaurants and what retail space they do build will then be an easy sell. Honestly, at this point Im not sure how they can screw it up.

[Pete]

The only real issue is if the businesses get cold feet due to oil prices and/or financing becomes an issue for the same reason.

But, oddly, chains do better when oil prices are down because the national economy benefits. So, all of them are actually doing better now than just a couple of years ago.

The Medallion Group (the local company that owned the land) brought in a big investor from Austin who has subsequently moved to OKC. He also has great relationships with these chains and the brokerage community.

Also, the 450 apartments for Phase II involves a local developer who has a great track record in getting things done.


I'm very optimistic about all this.

[Motley]

If they build it, the retailers will come. The OKC/OK market, even with a downturn due to oil, can support the retailers and restaurants being mentioned. The issue has been a developer willing to build a quality center. If you have a center and stores of this caliber, it will actually return a lot of customers from SW and S. central OK that go to Dallas now. People in Altus, Lawton, and surroundings go to Dallas since it is only an hour more than OKC. These stores will attact them to shop in OKC and not have a reason to go to DFW.

[Pete]

People would flock to a quality lifestyle center, just like they have for every new store that *finally* comes to OKC.

I bet once they get the first phase open this thing really takes off. It's badly needed and it certainly looks like these guys know what they are doing.

[Plutonic Panda]

From Chisholm Creek Facebook Page:

Check out the News! We are excited to announce a new part of Chisholm Creek!

[bchris02]

Amazing. I am as excited about this as I am anything currently going on downtown.

This really looks like something I would see in Dallas or Charlotte. It is refreshing to see something like this coming to OKC. Finally a retail development fit for a big league city.

[Motley]

This development, along with Glimcher's plans, neutralizes a very large percentage of the frustration (and self-consciousness) that locals feel about OKC not being on par with its peer cities.

[Pete]

Just obtained this updated site plan and labeled the biggest changes:

[Plutonic Panda]

I like it! It keeps getting better and better!!

[Plutonic Panda]

Pete, do you know when they plan on starting construction on Tract 30?