OAK (formerly Penn Central)

[poe]

Anyone notice the rendering showing the "Shack Shake?" Hmmm. That would be killer if these folks can draw Shake Shack to OKC.

This is just literally everything that area needs right now. That whole part of town is like a second hub, but weirdly bifurcated due to I-44, Classen Circle remnants, and other mistakes.

This could be a hit and with the quality of brands we are already drawing to the area, could bring in some choice retailers.

To me, one of the buildings in the renderings resembles one of the larger-footprint Restoration Hardware stores. That would be a good get!

[progressiveboy]

Good looking development! Reminds me a little like Shoppes of Legacy West. This is raising the bar and the location is very high profile with heavy traffic counts. A great fit!

[progressiveboy]

Would OKC be able to support a Restoration Hardware? Pretty pricey stuff! A Crate and Barrel would be a nice fit in this development!!

[ChrisHayes]

I was just wondering about this development the other day because I remember the original posting. I seriously hope this comes to fruition. I only wish it was on a much larger scale. I know this is off topic, but what happened with that planned development across the street from Chesapeake Energy?

[Rover]

I think you are making assumptions on value and if the homeowners like it or not. I just think we have to at least consider the owners who were there first. If they all like it and want to stay thats great. Has the developer canvassed the immediate home owners? I am for the complex but also for owners.

If they work with owners this can be a win win. Lets assume an owner wants to move. If the developer agrees to pay the difference between sell price and appraised vaue that would be a fair deal. If an owner wnats to stay great.

Sounds like the homeowners need to be living in a small town where nothing changes until they all die off. Lol.

[brianinok]

To me, one of the buildings in the renderings resembles one of the larger-footprint Restoration Hardware stores. That would be a good get!

Please please please! Tulsa has had one of the older small style stores for years, and my wife and I end up shopping online at RH all.the.time. The bulk of our furniture and decor budget goes to RH and RH Baby&Child. I guess I was kinda hoping it would end up in an expanded Spring Creek in Edmond (since we live there), but I'm happy with a location anywhere in OKC!

[Anonymous.]

This is the best suburban announcement since Chisholm Creek.

[Timshel]

Does anyone have any idea how well financed this group is? Hopefully this will happen as planned and as quickly as possible. I am slightly optimistic, as my barber rents a house that is in the boundaries of this development and the house has already been sold and they have to move out by April.

[Pete]

They seem to have their act together.

They've already spent $15 million the property and have hired a great and expensive architect.

In addition to the rental houses, they have been clearing tenants out of the 2 large office complexes. For the last year or so, they have only been accepting short-term leases.

I'm sure they are very busy trying to nail down a cinema and hotel, as those would be the anchors. Almost no way to get this deal financed without some significant tenant commitments.

[soonermike81]

This is the best suburban announcement since Chisholm Creek.

Is Penn and Expressway considered “suburban?”

[Plutonic Panda]

Is Penn and Expressway considered “suburban?”

It certainly isn’t urban. This development, as cool as it will be, won’t change that.

[chuck5815]

Does anyone have any idea how well financed this group is? Hopefully this will happen as planned and as quickly as possible. I am slightly optimistic, as my barber rents a house that is in the boundaries of this development and the house has already been sold and they have to move out by April.

The McNeill Group is stacked AF. Tons of oil and gas assets. Lots of cash in the bank. I would be very surprised if they don't pull this off. We ain't talking about Rainey Williams here.

[HangryHippo]

The McNeill Group is stacked AF. Tons of oil and gas assets. Lots of cash in the bank. I would be very surprised if they don't pull this off. We ain't talking about Rainey Williams here.

Well, if you don’t know Rainey Williams, then you don’t know Rainey Williams.

[Pete]

It certainly isn’t urban. This development, as cool as it will be, won’t change that.

Surburban / urban is not a binary, it's a continuum.

This area isn't Deep Deuce but it's far from 164th & Rockwell or Edmond.

It's certainly more urban than well more than half of OKC.

[BDP]

Surburban / urban is not a binary, it's a continuum.

Lessons from Los Angeles.

[Plutonic Panda]

Surburban / urban is not a binary, it's a continuum.

This area isn't Deep Deuce but it's far from 164th & Rockwell or Edmond.

It's certainly more urban than well more than half of OKC.

No but this area isn’t urban. That’s why I didn’t say it was suburban either because I wouldn’t go as far as to call it suburban.

[Plutonic Panda]

Lessons from Los Angeles.

Idk if you’re referring to me but Pete knows too he lived in LA a very long time. I suppose someone could think urban of anything in the city, but my idea of what I would call urban isn’t NWE and Penn even with this development.

[OKC Guy]

Sounds like the homeowners need to be living in a small town where nothing changes until they all die off. Lol.

I take it this was sarcasm against home owners?

Look, I love this development and in this location. All I’m saying is there appears to be 20 or so homes adjacent to this and from sketches there will be very tall buildings right at property line or close to it. And I would hope the developers work with owners to make sure they are whole. This is a massive deal not just one thing going up. In addition to the building they have roads which will see massive increases.

If it was you or anyone owning a house you would be concerned. If an owner likes it then great. And maybe the sketches are not final and homes will have some type protection. Anyone buying now would be aware so thats on them. But existing owners need to have option of selling/moving without losing a lot of money. That all I’m saying just do it right and make it a positive for all not just business.

I think thats reasonable. These were not vacant lots they built houses next to. Some old houses were town down along with businesses. There was no expectation of this massive complex. Help the owners so they are not out tons of money if they sell.

[Rover]

It doesn't look like the height is a big issue. There is already a big office building at the west end and it is across the street from 50 Penn tower. There are big asphalt parking lots that detract from the neighborhood. Most of the area this is going in was already commercial so it isn't like they didn't have an idea that business is next or near to them. What is going in is way more upscale than what it is replacing. The idea that property values are going to crash is not right. Owners will not be out tons of money. They will make money if they choose to sell.

[stlokc]

I would definitely consider this part of town suburban as opposed to urban. It is oriented towards the automobile rather than the pedestrian. Unless you want to walk across a six lane divided road and wade through a parking lot to an enclosed mall (the very epitome of suburb), or you have an hour you want to kill getting your 10,000 or 15,000 steps, you would have to drive to practically anything you could want to do.

That is not meant to be a slam on the area. It's one of my favorite parts of OKC and has some of the best potential in the metro area. But it's not urban.

I like this development. As proposed, It's a game changer. It's what we all wanted to see out of Chisholm Creek and probably makes more sense than Chisholm Creek due to it's location. If built, we would really start to see critical mass in terms of high-end development between this corner, Penn Square, Classen Curve and Nichols Hills Plaza.

Does anyone else sense that this project and the new development between CC and NHP would be fighting for the same tenants? I hope there's enough to go around so neither has to water down their potential.

[Pete]

I wouldn't like this if my home was immediately adjacent but as someone who lives a few blocks away, I simply can't wait.

As it is now, I can walk to some things like the mall or Aldi but there is nowhere to walk with my dogs and go sit outside and have a drink or a meal. Even in the 39th street district.

Just look at the impact that Classen Curve has had on the Meadowbrook Acres neighborhood to the south and east. Many of those homes have been torn down and replaced with much more expensive models and home prices in that area in general are way up.

[TheirTheir]

How many movie theaters do we really need?

[Pete]

^

Besides 10 relatively small auditoriums at Penn Square, there is nothing really close to this pretty dense area other than Tinseltown (which I don't care for).

Otherwise, you have to go to Quail Springs or Bricktown.

Flix at Broadway and Britton will be the same general area, but for the most part OKC is lacking in nice theaters and the strong trend is towards dine-in and alcohol driven venues.

[AnguisHerba]

As a resident of this area, the ability to walk and bike around this area more safely could make it way more urban. Adding infrastructure around NW Expressway for walking and biking would be a godsend. Just try to walk from NW 39th and Classen and Penn Square Mall and you'll see how it's nearly impossible to get around by foot on concrete. And there are so many amenities around the area which make it ripe for pedestrian activity.

[BDP]

Idk if you’re referring to me but Pete knows too he lived in LA a very long time. I suppose someone could think urban of anything in the city, but my idea of what I would call urban isn’t NWE and Penn even with this development.

I wasn't referring to you. I was unaware of your familiarity with LA.

I lived in LA, as well, and I knew Pete did, too. I was just referring to the fact that LA, as a whole, is a continuum of suburban to urban developments. Outside of downtown, it's more or less a bunch of urban pockets surrounded by suburbs.