OG&E Tower

[bchris02]

Here's a new post from the comments section on Steve's article.

"Hoping the Stage Center doesn't get torn down, only to hear that no anchor tenant could be found. The consolation prize is a brand new surface parking lot."

I think this is the sentiment we are going to have about this project with the general public until something definite is announced.

[pickles]

We still know little. I don't understand the disappointment I'm seeing from some. This is essentially what I would expect from initial reports.

[Dustin]

What about something like this?

MINE

[Pete]

Here's a new post from the comments section on Steve's article.

"Hoping the Stage Center doesn't get torn down, only to hear that no anchor tenant could be found. The consolation prize is a brand new surface parking lot."

I think this is the sentiment we are going to have about this project with the general public until something definite is announced.

Last line in Steve's article: "Williams promised he will not pursue a demolition permit without an anchor tenant tied to the development."


I'm increasingly confident this is about waiting for Enogex/Centerpoint to officially announce OKC as their new headquarters, which is why he also mentioned needing 90 days to get a lease signed. Then, bulldozing this landmark would likely gain easy approval given the excitement of this big "get".

All this is really starting to make sense.

[OKCTalker]

Despite the architectural and historic significance of Stage Center, it has outlived its economic and functional life span. This property was going to be developed by someone, but it will take a brave developer - and anchor tenant - to take the heat when the demolition permit is filed. If you want to see a picture of commitment to a project, you will see it that day. Remember also that the OKC Community Foundation is the current owner, and their board members sold it knowing that it will be town down and redeveloped. They also have to live in this town.

I'm excited for the future of this site. We could quickly come up with a long list of potential developers, any one of which would have us scared silly if their name was the one announced in Steve's story tonight.

Big picture: Look around the country and see cities like Detroit and Cleveland, and then look at our own town. It just keeps getting better.

[betts]

His dad was headmaster at Casady for years so he knows everyone. Hope that's correct. I'm still sad about the Stage Center so some theoretical spec tower would not be an acceptable replacement.

[bchris02]

Yeah I can already see the resistance to this ramping up. Something big, ready to break ground needs to be announced soon if only for the purpose of calming those up in arms about the possible loss of the Stage Center.

[Spartan]

Big picture: Look around the country and see cities like Detroit and Cleveland, and then look at our own town. It just keeps getting better.

Huh?

[soonerguru]

Yeah I can already see the resistance to this ramping up. Something big, ready to break ground needs to be announced soon if only for the purpose of calming those up in arms about the possible loss of the Stage Center.

They'll move at their own pace.

[Praedura]

dazed and confused

[Pete]

In the video interview of Steve on camera attached to his updated article, he said that a parking garage would be included on this site and that it will likely be "a little bit" or possible "quite a bit" taller than 20 stories.

His article also now adds that the 2014 Arts Festival likely won't be impacted but the 2015 version would.

[Pete]

Another thought... Although this might be primarily built for Enogex/Centerpoint, they might also include additional space for true spec tenants since the demand is currently so high.

In fact, maybe part of the deal with E/C is future options for additional space so they will have room to grow.

So, we could get a tower for Enogex/Centerpoint with additional space for other tenants PLUS a separate tower for OG&E.

[Mississippi Blues]

Can someone just wake me up when this all gets sorted out? It hurts my brain.

[ljbab728]

Huh?

Spartan, you have obviously missed all of the recent Cleveland bashing here by those lumping Cleveland in with Detroit.

I've been wondering why you haven't chimed in.

[Praedura]

Going back and reading Steve's article again along with re-reading Pete's comments here have cleared things up for me quite a bit. And especially watching the video that accompanies the NewsOK article, which definitely makes thing clearer.

By the way, Dave Morris has provided a download link for the video here:
http://ht.ly/nkSfD

And yes, Steve does say "at least 20 stories" in the video. Which is also included in the bullets points displayed on screen.
Here's a screenshot:



He later comments that it could be more, noting the fact that when the Devon Tower was initially announced, it was stated as being "at least 34 stories". And, of course, it ended up being 50.

That calms my fears down quite a bit. A 20 story building would only be about as tall as (or perhaps a little taller than) the Regency Tower. That would be nice, as in better than nothing. But not the great skyline balancer we were all hoping for. So we can still hope that the final design presented to the public is much higher than this initial estimate.

[Praedura]

Steve also makes the observation that this is the first new class A office space developed for downtown OKC to be available to the general market since Leadership Square was built 30 years ago.

That's an astonishing, and rather sad, statistic right there. But at least some new space is finally on the way.

[Praedura]

Pete's theory about this being a stealth development for the new MLP makes a lot of sense....

Yes, some developers could decide to purchase the Stage Center site and build a spec tower there. Class A office space is really tight in downtown right now. But that's a risky proposition -- to build a nice shiny new tower and hope that sufficient tenants line up to lease. That doesn't seem to be a good scenario for the Oklahoma City Community Foundation to sell the property for something with Stage Center's unique history and the controversial demolition required. It would be too easy for things to fall through.

But if they're actually quite certain of an anchor tenant, one that they know about in private, but can't mention yet in public, then it makes sense. The Enogex/Centerpoint MLP fits this nicely because this new entity will be flush with capital, will need a headquarters with a lot of Class A space, but can't really initiate anything yet until they've cleared all their formation hurdles. The fact that Rainey Williams, developer of this tower, is on the board of Enogex makes this sound not only plausible, but highly likely. And the delay in announcing the anchor tenant corresponds with the timeline needed for the MLP to form.

It definitely fits.

[Zack232]

Another thought... Although this might be primarily built for Enogex/Centerpoint, they might also include additional space for true spec tenants since the demand is currently so high.

In fact, maybe part of the deal with E/C is future options for additional space so they will have room to grow.

So, we could get a tower for Enogex/Centerpoint with additional space for other tenants PLUS a separate tower for OG&E.

I realize this is all speculation, but is there any chance this could be bigger than Devon when it's all said and done? I know initial rumors were 40 floors, but do you think it's possible we could see more?

[Praedura]

I realize this is all speculation, but is there any chance this could be bigger than Devon when it's all said and done? I know initial rumors were 40 floors, but do you think it's possible we could see more?

I would say highly unlikely.

What we've got here is a new office tower being built with a presumably "substantial" anchor tenant that has yet to be named. Plus additional office space for the general business market. Steve's article mentions "at least 20 stories" as the initial size estimate. We can all hope that it is much more than that. But taller than Devon seems EXTREMELY unlikely to me. I just hope it's tall enough to be that skyline balancer that we all want.

[zookeeper]

Thunder woke me up and I had to check to see if there was news on the tower. I think Pete's summary is very good and probably as close to reality as anything someone involved would be willing to go on the record with.

I think we all underestimate the loss of Stage Center. I know my heart will be low in the stomach when I see the first pieces fall to the ground. Seeing that structure in a giant heap will make many of us wince at tearing down something that is very unique to our city and to the architectural world. One day there will be people looking at pictures of Stage Center and asking what we were possibly thinking. Sounds all too familiar. It's just a shame something couldn't have been worked out.

As for the tower, I still think it's the Enogex/Centerpoint MLP. As has been said, I think Pete is pretty darn close to the truth.

Onward and upward, but it's with mixed emotions. Bittersweet.

[HOT ROD]

If it is a spec tower and not owner occupied, maybe it will be called Stage Center 'tower'? could pay homage to the theatre and perhaps some of the street level design elements that interact with folks (since it will have streetfront retail).

Kudos - can't wait to find out more. Stay tuned. lol

[Praedura]

Pete's theory also allows for a second tower (as he stated earlier) since OG&E would not be moving to this site, yet they still need a new HQ.

I have to admit to being slighted deflated the other day at the thought that OG&E and the new MLP would be sharing a tower. Because I was (greedily) hoping for two towers.
Well, that hope has been resurrected.

[Praedura]

Plus, we could still get a new tower somewhere on the Preftakes block. That makes three.

Then Continental could build a new tower several years down the road. That makes four.

And so on....

[Snowman]

If it is a spec tower and not owner occupied, maybe it will be called Stage Center 'tower'? could pay homage to the theatre and perhaps some of the street level design elements that interact with folks (since it will have streetfront retail).

Kudos - can't wait to find out more. Stay tuned. lol

Since they say there will be an anchor tenant, then it seems likely even if not during the development phase that it will eventually be named after that tenant.

[catch22]

Upon further thought, this kind of confirms Patrick's statements. Maybe OG&E really will be announcing before the end of the year.