Originally Posted by
bombermwc
It's a pretty tough spot to put a hotel, like Spartan said. The foot print is really small, but they're going to have a hard time buying up the rest of the block. OG&E has the surface lot because their large surface lot across the street gets full. Now if they can get that 4 story brick structure next door, maybe they'll have something (although it would be a shame to toss a multistory brick building down there...and one that doesn't seem to be in bad structural shape (can anyone confirm that?) with tight frontage too.
The stickler here is parking. Between the two building footprints, you could get something going...IF you have the parking lot too. Remember, this is OKC after all and not NYC, you can't build a hotel without somewhere to put the cars.
I'm not expecting this to be some bit major thing, but more like the cookie-cutter 4-6 floor suburban hotels. But I'm not really complaining either. It's the first private purchase we've seen to try and work off of C2S (which still has a long way to go). It COULD be the start of something here. I imagine once the park is done, we'll see a lot happen.
Something else to consider is, are they simply purchasing it in anticipation of the land being valued higher in another 10-15 years? They could just sit on it (or even raze the building and put in a surface lot [or grass] and collect event parking dollars). I'm hoping it turns into an actual building, but we should consider all the possibilities. Putting a cautiously optimistic about SOMETHING happening!
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