Boardwalk at Bricktown / Dream Hotel

[Pete]

I know from having lived there, California court cases are notoriously hard to search. It's the opposite of Oklahoma, where absolutely everything is online forever and anyone can access for free. You also have to search every single county separately and pay for Cali records and they are expensive.

But in my research, I did find references to several lawsuits filed against Matteson in Orange County.

The one shown below is about $755,000 in delinquent attorney fees, which he has not paid on at all since at least 2016. Just on the 14th of this month, there was a default judgment against Matteson, who didn't contest anything. Since so much of the fees go back almost a decade, there will be significant interest assessed as well as court costs. I would expect the final amount -- still to be calculated -- to reach over $1 million.

It appears Matteson is still living in the same apartment, according to the filings in the case.

Also, Matteson and his second wife were forcibly evicted from their home in 2016. Two years later, his second now ex-wife made posts about him being abusive and delinquent on child support, which is separate from similar filings from his first wife (in 2003 - see below).

You may remember that Centurian -- not Matteson himself but a group of people where we will never know his exact involvement -- was part of the group that purchased the land for Miami World Center around 2014. Shortly thereafter a big equity partner came in and from that point forward, there is no mention of Centurion or Matteson. I checked through the numerous press releases and Centurian and Matteson were never mentioned in the many developments that have occurred on that site, despite Matteson claiming "I built X".

It certainly looks like Centurian was bought out (Matteson couldn't have netted much because shortly thereafter he stopped paying his legal bills and lost his home) then I can't find anything about them or Matteson apart from the failed Palm Desert surf park/hotel that he tried to do under the Matteson Capital name (and told the PD City Council it was fully funded) which completely collapsed along with about another half-dozen similar developments planned around the country.

From all indications, Centurian Capital effectively went out of business somewhere around 2013-2016, he got evicted from his home in 2016, seems to have been living in an apartment since then, he's done no verifiable development since then (nothing ever apart from Centurian which no longer exists), his wife divorced him and claimed domestic violence and obtained a 3-year restraining order, and now he has a new judgment for about $1 million. From looking at all the cases below, it seems the only issues before 2013 were domestic in nature, then there was an avalanche that seemed to coincide with Centurian ceasing to exist.

[dankrutka]

None of this could possibly be true. It wasn't in the Oklahoman's puff piece on Matteson.

[Rover]

It is hard to imagine Steve Lackmeyer was uninformed on an easily verifiable topic.

Or that the Journal Record came to the same conclusions as the Oklahoman. Or other publications like Finance & Commerce, The Architect's Newspaper, Fox News, ABC News, NBC News, USAToday, The Business Journal, World-Architects, CoStar, Robb Report, GlobalNewswire, Building.co, etc.

and announced by the architectural firm AO, and other project partners
Civil: Johnson & Associates
Contractor: Hensel Phelps
Engineer: Siemens, Thornton Tomasetti
Finance: BCREM Inc., Global Economic Strategies
Legal: Greenberg Traurig
PR: Idea Hall

Also reported the same by all local TV stations in the metro, and many in the US, all reporting about the same as Lackmeyer and the Oklahoman.

But this board is hell bent to single out one, instead of the whole of the media.

Oh, and Randy Hogan has to be implicated in this charade. He believed it enough to sign on with them, essentially vouching for them to our community.

They should have all just ignored it, or called it out for the sham it apparently is, I guess.

[jn1780]

Or Pete is the only one who cares enough to look into it. Real Estate doesn't generate exciting headlines usually.

[Rover]

Or Pete is the only one who cares enough to look into it. Real Estate doesn't generate exciting headlines usually.

And we are glad Pete does what he does. I just don’t understand the singling out of the Oklahoman because they reported the story, the same as everyone else.

[Pete]

Or that the Journal Record came to the same conclusions as the Oklahoman. Or other publications like Finance & Commerce, The Architect's Newspaper, Fox News, ABC News, NBC News, USAToday, The Business Journal, World-Architects, CoStar, Robb Report, GlobalNewswire, Building.co, etc.

and announced by the architectural firm AO, and other project partners
Civil: Johnson & Associates
Contractor: Hensel Phelps
Engineer: Siemens, Thornton Tomasetti
Finance: BCREM Inc., Global Economic Strategies
Legal: Greenberg Traurig
PR: Idea Hall

Also reported the same by all local TV stations in the metro, and many in the US, all reporting about the same as Lackmeyer and the Oklahoman.

All those news outlets merely picked up what the Oklahoman reported, hence the problem.

[jn1780]

All those news outlets merely picked up what the Oklahoman reported, hence the problem.

Off topic, but this is one of my reservations about AI. AI bots are just going to pick up on stories like this and spread it with their own little spin.

[barrettd]

Off topic, but this is one of my reservations about AI. AI bots are just going to pick up on stories like this and spread it with their own little spin.

I'm pretty sure there are already plenty of online outlets using AI to write clickbait stories and regurgitate stuff from other sources.

[Pete]

I'm pretty sure there are already plenty of online outlets using AI to write clickbait stories and regurgitate stuff from other sources.

It's been going on for a long time before AI.

[Laramie]

Personally, I never could figure out why Matteson believes OKC could support such a large undertaking as a 134 floor (1,750 feet), Legends Tower.

It's nice to have aspirations about big dreams; however this tower is too much for even me to swallow.

Like most of you on this site, let's get the original version of the Boardwalk at Bricktown built. IIRC Matterson's project qualifies for $200 million in TIF funds.

[BDP]

I'm pretty sure there are already plenty of online outlets using AI to write clickbait stories and regurgitate stuff from other sources.

I think it's more a function of media consolidation that's been happening since the 90s.

Rover mentioned that USAToday ran with it. Well, Gannett, who owns USAToday, also owns the Oklahoman, along about 70 other newspapers. So, they all run with the same stuff and rarely do independent reporting. Same with local TV, which is why local news can be so similar across completely unrelated markets, down to the banter between on air personalities. Basically, all of those outlets used the same reporting and just copied and pasted it into their content.

But yeah, AI is just an aggregator of information. So, if they did use AI, the net effect would probably be the same. The ole "garbage in, garbage out". Unless, of course, the AI is considering the content of this thread to factor Pete's reporting into it.

[Swake]

I think it's more a function of media consolidation that's been happening since the 90s.

Rover mentioned that USAToday ran with it. Well, Gannett, who owns USAToday, also owns the Oklahoman, along about 70 other newspapers. So, they all run with the same stuff and rarely do independent reporting. Same with local TV, which is why local news can be so similar across completely unrelated markets, down to the banter between on air personalities. Basically, all of those outlets used the same reporting and just copied and pasted it into their content.

But yeah, AI is just an aggregator of information. So, if they did use AI, the net effect would probably be the same. The ole "garbage in, garbage out". Unless, of course, the AI is considering the content of this thread to factor Pete's reporting into it.

For all the writers that have been cut at news outlets, even more editors and fact checkers have been cut. That's why so many mistakes in facts, spelling and even basic English make it into stories.

[Pete]

For all the writers that have been cut at news outlets, even more editors and fact checkers have been cut. That's why so many mistakes in facts, spelling and even basic English make it into stories.

As I've pointed out many times, the Oklahoman has been functioning the same way since the time they were a dominating monopoly with 50x the employees.

Steve Lackmeyer has been working there for 35 years and operates exactly the same way he always has: gets played by developers and con men who talk nonsense and he just prints it without any homework, questions, or fact-checking.

The Oklahoman just doesn't care about journalistic ethics and never has. The cuts are now just a convenient excuse.

[barrettd]

I think it's more a function of media consolidation that's been happening since the 90s.

Rover mentioned that USAToday ran with it. Well, Gannett, who owns USAToday, also owns the Oklahoman, along about 70 other newspapers. So, they all run with the same stuff and rarely do independent reporting. Same with local TV, which is why local news can be so similar across completely unrelated markets, down to the banter between on air personalities. Basically, all of those outlets used the same reporting and just copied and pasted it into their content.

But yeah, AI is just an aggregator of information. So, if they did use AI, the net effect would probably be the same. The ole "garbage in, garbage out". Unless, of course, the AI is considering the content of this thread to factor Pete's reporting into it.

That's true, and I wasn't even thinking about it from that perspective. Good points.

I was just thinking from the view that I stumble across more and more online content promoted as "news" that seems as if it was computer generated, which also makes sense from a cost perspective. Most of the articles are written with the intent to keep users scrolling and scanning ads, not so much about delivering any real content or grow any kind of user base.

[Swake]

As I've pointed out many times, the Oklahoman has been functioning the same way since the time they were a dominating monopoly with 50x the employees.

Steve Lackmeyer has been working there for 35 years and operates exactly the same way he always has: gets played by developers and con men who talk nonsense and he just prints it without any homework, questions, or fact-checking.

The Oklahoman just doesn't care about journalistic ethics and never have. The cuts are now just a convenient excuse.

From the Columbia Journalism Review in 1999

Worst Newspaper in America (Daily Oklahoman)

https://www.mail-archive.com/ctrl@li.../msg02414.html

[mugofbeer]

l agree with much of what that old Columbia Journalism Review says and l remember it well from when it came out. They had a longstanding battle going with the Oklahoman and Gaylord. The proof of bias was using Robin Meyers, also someone l am very familiar with, as the main choice for material in their review, that had nothing to do with the CJR assertion. Many of us had major disagreements with the Oklahoman and l have no problems with Robin Meyers, but this review was just a hack job.

[Pete]

I'm still checking into a lot of Matteson's claims, including this one in the 3/10/24 Oklahoman article:

A newly launched $250 million Legends Capital Management fund is investing in the project. The group is a who's who in California sports, entertainment and banking.

He then goes on to list several famous people as investors.


According the the SEC database, there is no such thing as Legends Capital Management Fund. Private equity funds are required to file forms with the SEC; not all are required to fully register but they must at least apply for exemption.

I can see five previous funds where Matteson was involved, the last one being in 2013 when he was trying to get his surf resorts off the ground. But there is nothing in his name since and nothing at all named Legends Capital.

He could be talking to investors, but in order to legally solicit funds he has to at least file forms with the SEC.


As background, what Matteson has done in the past is, along with partners, create private investment funds whereby individual investors are solicited usually in increments of $25K, and then the funds are pooled and used for development. The investors get an equity share as a Limited Partner in the properties. It's a very common approach in commercial real estate deals; Strawberry Fields is a recent example and they have filed many forms with the SEC.

[Swake]

I'm still checking into a lot of Matteson's claims, including this one in the 3/10/24 Oklahoman article:



He then goes on to list several famous people as investors.


According the the SEC database, there is no such thing as Legends Capital Management Fund. Private equity funds are required to file forms with the SEC; not all are required to fully register but they must at least apply for exemption.

I can see five previous funds where Matteson was involved, the last one being in 2013 when he was trying to get his surf resorts off the ground. But there is nothing in his name since and nothing at all named Legends Capital.

He could be talking to investors, but in order to legally solicit funds he has to at least file forms with the SEC.


As background, what Matteson has done in the past is, along with partners, create private investment funds whereby individual investors are solicited usually in increments of $25K, and then the funds are pooled and used for development. The investors get an equity share as a Limited Partner in the properties. It's a very common approach in commercial real estate deals; Strawberry Fields is a recent example and they have filed many forms with the SEC.

Don't the "partners" then receive fees (from the raised capital) for managing money? By doing things like paying for renderings that bring in more investors that will need to have their money managed.

[David]

The last few months of following this project have been so disappointing. It has become abundantly clear ever since the Legends Tower announcement and Pete's subsequent investigative work that this development has about a -30% chance of building anything at all let alone the full product.

Stick a fork in it, all we're waiting on now is to see how the obvious fraudster at the heart of it ends up failing out and what precisely happens to kill the development. All this dude is going to have accomplished in the end is set up OKC as an international laughingstock for no fault of our own.

[Pete]

Don't the "partners" then receive fees (from the raised capital) for managing money? By doing things like paying for renderings that bring in more investors that will need to have their money managed.

Yes, the people managing the fund often take a salary or other management fees themselves.

That is typically spelled out in the operating agreement the investors sign. It's also one of the issues with Strawberry Fields and why they are now seeking full access to the books.

[PhiAlpha]

The last few months of following this project have been so disappointing. It has become abundantly clear ever since the Legends Tower announcement and Pete's subsequent investigative work that this development has about a -30% chance of building anything at all let alone the full product.

Stick a fork in it, all we're waiting on now is to see how the obvious fraudster at the heart of it ends up failing out and what precisely happens to kill the development. All this dude is going to have accomplished in the end is set up OKC as an international laughingstock for no fault of our own.

How the hell is that the case? I think maybe we're getting a little high on our own supply here. Little to no one that matters outside of OKC will care about this at all or even think about it after it drops out of the news cycle (not many outside of OKC care about it now). No one that matters who is actually looking at to relocate themselves or their company to OKC was doing so because of some completely pointless supertall building that everyone outside of maybe 5 posters on OKCTalk thought was a laughable proposal in the first place (and frankly it would've been bad for the development of the acres of empty lots downtown which is far more important to a vibrant city than one absurdly out of place tall building)...and no one outside of OKC even realized there was more to the development after the supertall was announced. The only person that will look stupid on the national stage is Matteson and as we've seen with his previous failures, even that negative publicity is fleeting. He can just go propose something aggressively stupid somewhere else and no one will research it at all.

The only people outside of OKC who remotely give a crap about this development are primarily a bunch of skyscraper forum posters who live in their parents basements and likely lack many of the social skills required to have a conversation in real life. I think it's kinda dumb to even be somewhat concerned about what those people think. The bigger disappointment locally is that the rest of the development is way more suspect that we initially thought. Hopefully someone will be able to get something done there that isn't wildly disappointing.

It sucks that this guy sucks but come on now...let's get a grip.

[Swake]

Yes, the people managing the fund take a salary or other management fees themselves.

That is typically spelled out in the operating agreement the investors sign. It's also one of the issues with Strawberry Fields and why they are now seeking full access to the books.

I'm sure this is what is with the Amphitheater projects as well. They are raising money, and getting paid to manage whatever money is raised. If they get enough money to build the thing, great, if not, they still got paid on whatever money actually was raised. The longer it takes to raise the money, the more money they make.

Broken Arrow gave the Amphitheater project city money, so it's likely going to be built. Once built, the people paid for managing the money are now also managing the amphitheater, and getting paid to do so, paid twice basically. If the amphitheater it is successful, great, if not, well they already got paid for both raising the money and managing the amphitheater.

[David]

How the hell is that the case? I think maybe we're getting a little high on our own supply here. Little to no one that matters outside of OKC will care about this at all or even think about it after it drops out of the news cycle (not many outside of OKC care about it now). No one that matters who is actually looking at to relocate themselves or their company to OKC was doing so because of some completely pointless supertall building that everyone outside of maybe 5 posters on OKCTalk thought was a laughable proposal in the first place (and frankly it would've been bad for the development of the acres of empty lots downtown which is far more important to a vibrant city than one absurdly out of place tall building)...and no one outside of OKC even realized there was more to the development after the supertall was announced. The only person that will look stupid on the national stage is Matteson and as we've seen with his previous failures, even that negative publicity is fleeting. He can just go propose something aggressively stupid somewhere else and no one will research it at all.

The only people outside of OKC who remotely give a crap about this development are primarily a bunch of skyscraper forum posters who live in their parents basements and likely lack many of the social skills required to have a conversation in real life. I think it's kinda dumb to even be somewhat concerned about what those people think. The bigger disappointment locally is that the rest of the development is way more suspect that we initially thought. Hopefully someone will be able to get something done there that isn't wildly disappointing.

It sucks that this guy sucks but come on now...let's get a grip.

Basically all the casual conversation and coverage I have seen of this project has treated OKC people as being the lunatics responsible for it. For example I listen to The B1M construction YouTube channel and podcast pretty religiously and to my disappointment their coverage of this was more or less just general mockery. It'd be hard to quantify but Matteson has done some amount of actual damage to OKC with this nonsense.

[bison34]

Basically all the casual conversation and coverage I have seen of this project has treated OKC people as being the lunatics responsible for it. For example I listen to The B1M construction YouTube channel and podcast pretty religiously and to my disappointment their coverage of this was more or less just general mockery. It'd be hard to quantify but Matteson has done some amount of actual damage to OKC with this nonsense.

So, 1/100,000th of the population cares. Oh well. The damage will be negligible. You're overestimating how much people actually care beyond the "haha, yeah right" responses.

Or maybe it will cause thousands to never move or visit here because of 1 sociopath's grand delusions.

[dankrutka]

People who are mocking OKC based on this announcement are doing so because they already held those beliefs about OKC. The reality is the super tall only makes sense for 2-3 US cities. I don’t think the announcement did any damage.