Covell and I-35 Development Updates

[oklip955]

Wish we could get some new to market upscale resturants. Please something other then fast food. Pleanty of nice roof tops and with the hotel maybe an alternative to what ever resturants open in it. I'm thinking just in the area. The southwest corner of Sooner and Covell is for sale with a large price tag, maybe a small upscale development is in order.

[rockstar21]

http://newsok.com/showbiz-cinemas-wa...rlyAccess=true

"ShowBiz Cinemas is proposing to build a family entertainment center, with 18 bowling lanes, 12 movie theaters, an arcade, restaurant and upscale bar, near Edmond's new hotel and conference center at Covell Road and Interstate 35."

[Plutonic Panda]

This will be cool and hopefully good quality.

[jbrown84]

That's more like it. So far the commercial development on I-35 has not created a good impression of Edmond to those driving through. Will be nice to have a theatre in that neck of the woods, as my parents live at 2nd and Coltrane. Say goodbye to Kickingbird Cinemas, though.

[DowntownMan]

Crest put out a message ok Facebook that they plan to open late 2017 or early 2018

[Plutonic Panda]

It is already under construction.

So currently under-construction

Conference Center/Hilton Garden Inn
Crest Fresh Market
Oak Ridge Business Park(directly north of Crest)
Covell and Sooner widening in the area

Confirmed and starting construction anytime

McDonalds
Braums
Summit Sports Complex

Planned/Announced

ShowBiz Cinemas and Sports Lounge
Large gas station(likely OnCue)
Large shopping center

[Zorba]

Its sad how much I am looking forward to OnCue at this location. There are no gas stations on the length of Covell or Coffee Creek from I-35 to Portland (although a no-name one is moving in a Broadway and Blvd).

I knew it wouldn't happen, but it would've been great if the Life Time had moved into this area.

[jjjumper]

OnCue is already building along I35 at Waterloo and at 15th. I seriously doubt they build a third one in a six mile stretch.

Its sad how much I am looking forward to OnCue at this location. There are no gas stations on the length of Covell or Coffee Creek from I-35 to Portland (although a no-name one is moving in a Broadway and Blvd).

I knew it wouldn't happen, but it would've been great if the Life Time had moved into this area.

[Zorba]

OnCue is already building along I35 at Waterloo and at 15th. I seriously doubt they build a third one in a six mile stretch.

Well considering they are trying to copy QT, they have a lot more density to add. When I lived in BA, I had 6 QTs within 2.5 miles. But where is the the other one along I35 besides at Waterloo?

Edit: Actually it was 8, I forgot about two of them.

[Plutonic Panda]

They are building one right now at 15th and I-35.

[warreng88]

Northeast Edmond development takes shape

By: Molly M. Fleming The Journal Record February 2, 2017

EDMOND – The city’s long-awaited development at Interstate 35 and Covell Road is starting to take shape.

One project is under construction and another is being considered for a sales-tax-based incentive package.

The city’s $37 million Hilton Garden Inn and 20,000-square-foot conference center is under construction on 7.5 acres at the northwest corner of I-35 and Covell Road.

Edmond Economic Development Authority Executive Director Janet Yowell said the organization is holding off on scheduling its fall forecast event because the conference center could be open by then.

The next project in the area will be a Crest Foods store. In January, the Oklahoma-owned grocery store announced it would open a store at the northwest corner of Sooner and Covell roads. Company President Bruce Harroz could not be reached for comment on the new store.

Raptor Properties owns the land at the northeast corner of Sooner and Covell, which is where ShowBiz Cinemas is considering constructing a multi-entertainment venue. It would include a movie theater and a bowling alley.

Raptor Principal John Wooley II said ShowBiz has been interested in the market for a long time. He said Raptor visited with ShowBiz several years ago, but he thought another company would bring a theater to Edmond. When that deal didn’t work out, Showbiz was the first call.

“I think ShowBiz’s draw will reach out to Stillwater,” he said.

Wooley said the neighboring Crest will make the area a more all-around attraction. It will draw event traffic from the hotel, entertainment customers to the theater, and then daily shoppers to the grocery store.

“I think Crest’s everyday traffic is critical to any kind of development,” he said. “When you have everyday traffic it promotes other traffic than just event traffic.”

ShowBiz is working with the city on a sales-tax-based incentive package. The EEDA’s board of directors approved Yowell to work with ShowBiz on such a deal. She said it’s still being developed and could be reviewed by the City Council during its February meetings. The council will meet on Feb. 13 and Feb. 27.

“We’ve gone from having nothing out there to having three entities that will be very viable,” she said. “They will draw traffic, and increased traffic means increased activity and interest.”

Wooley said Raptor is already working on getting more restaurants and retailers to the area. He said that would give people other options after bowling or watching a movie at ShowBiz.

“It’s the perfect introductory theater for us,” he said. “It gives a lot more entertainment value than what we’re used to doing.”

[Plutonic Panda]

ShowBiz Cinemas starts construction this week.

http://m.newsok.com/article/5539902

[OKCisOK4me]

ShowBiz Cinemas starts construction this week.

http://m.newsok.com/article/5539902

That's pretty f'in impressive!

[bucktalk]

I wonder if ShowBiz knows Warren Theater is going in at Eastern and Kirkpatrick turnpike?? Or maybe it doesn't matter one way or the other.

[onthestrip]

ShowBiz Cinemas starts construction this week.

http://m.newsok.com/article/5539902

Another unnecessary give away from the city, or at least too much at $4.8 million. And this is even more unnecessary with Warren announcing a theater at the turnpike and Eastern. ShowBiz isnt going to go south of Memorial, into OKC city limits, and they arent going to go north and out of Edmond. ShowBiz wants to be in Edmond and those incentives likely wouldnt have made a difference to them. But instead Edmond will forego $4.8 million in tax collections for something that I would bet would happen regardless.\

Not all TIFs are bad, but this is one that I think Edmond had more bargaining power than what the incentive package showed.

[jerrywall]

Yeah, but it's such a piddling amount annually, and it is drawn out over 15 years or so, and based on the previous year's sales tax collection, so there's no chance of losing much on the deal. And, while Edmond may have had more bargaining power, we DESPERATELY need that area to succeed if the convention center is going to work at all. The EEDA does a great job in evaluating these incentives, so I trust them here.

[_Cramer_]

I meant to snag some pictures of the new convention center/hotel. Can someone snap some?
The complex has really taken off. It looks like they'll be done with the Covell intersection there by the end of the summer.

[Pete]

I meant to snag some pictures of the new convention center/hotel. Can someone snap some?
The complex has really taken off. It looks like they'll be done with the Covell intersection there by the end of the summer.

Talked to someone they hired and they plan to open in the fall.

[Zorba]

I meant to snag some pictures of the new convention center/hotel. Can someone snap some?
The complex has really taken off. It looks like they'll be done with the Covell intersection there by the end of the summer.

I think the intersection will probably be done by the end of April, if not sooner. Only a few more panels to pour, and the medians.

[Plutonic Panda]

Looks like a Starbucks along with a new retail center will be coming to Covell and I-35. The hearing has been continued to September 5th.

Another note: the site plan for the movie theatre has been discontinued indefinitely. I don't know what that means exactly. I hope this development isn't in trouble.

[onthestrip]

Looks like a Starbucks along with a new retail center will be coming to Covell and I-35. The hearing has been continued to September 5th.

Another note: the site plan for the movie theatre has been discontinued indefinitely. I don't know what that means exactly. I hope this development isn't in trouble.

A blurb in the paper says Showbiz is looking for a real estate partner who will build and own the theater and I assume lease back to showbiz. So Showbiz cant even build their own building but still took nearly $5mil in incentives.

[traxx]

Showbiz Pizza?

[Plutonic Panda]

A blurb in the paper says Showbiz is looking for a real estate partner who will build and own the theater and I assume lease back to showbiz. So Showbiz cant even build their own building but still took nearly $5mil in incentives.

That figures. Is this common practice? I've never heard of a movie theatre doing this.

[jerrywall]

A blurb in the paper says Showbiz is looking for a real estate partner who will build and own the theater and I assume lease back to showbiz. So Showbiz cant even build their own building but still took nearly $5mil in incentives.

Of course those incentives haven't been paid and are based directly on performance which if doesn't happen they get nothing. So, no, not really. The EEdA is pretty smart in how it operates.

[onthestrip]

Of course those incentives haven't been paid and are based directly on performance which if doesn't happen they get nothing. So, no, not really. The EEdA is pretty smart in how it operates.

True. Maybe I didnt word it properly. Its just kind of astounding how they are getting one helluva incentive package yet here they are delaying things because they cant get started on a building. It shouldnt be hard to find a real estate partner to help with the actual development of the building. I guarantee you there'd be several local folks who would do a build to suit for them.