Development in Bricktown continues with hotel
By Steve Lackmeyer
The Oklahoman
Get ready for another growth spurt in Lower Bricktown, with construction of a $20 million Residence Inn starting next week, to be followed by new offices, shops, restaurants and for-sale condominiums.
Flintco started staging of the construction area last week along Reno Avenue, southeast of the SBC Bricktown Ballpark. Missouri developer John Q. Hammons, who built the nearby Renaissance Hotel and Courtyard by Marriott, promised Monday the Residence Inn won’t be his last downtown Oklahoma City project.
“I’m going to build an Embassy Suites,” Hammons said. “I’ve been negotiating with Urban Renewal for the last six months, and you’ll be hearing more about it within the next few weeks.”
The six-story Residence Inn will feature 150 rooms and a swimming pool and patio facing the Bricktown Canal. The hotel is expected to open by late next year. Hammons said his other downtown Oklahoma City hotels are performing “very well,” and he anticipates his investment in Oklahoma City will exceed $150 million.
Hammons wouldn’t disclose further details about the planned Embassy Suites. He said his addition of hotel rooms to downtown Oklahoma City will top 950 when he is finished.
Amcat, a company that sells call center technology, is among those anticipating the opening of the Residence Inn. Dudley Larus, vice president of marketing, said the Edmond company will move its 100 employees to the adjoining Sonic headquarters office building in January.
“It’s the right image for Amcat,” said Larus, whose customers travel from around the globe. “We want to take advantage of the energy that exists downtown. It’s a great way to show off Oklahoma City, with the vibrancy of all the shops and restaurants.”
The company’s lease for 10,000 square feet in the building’s first floor leaves only 5 percent vacant - and only two portions facing the canal available for restaurants or retail.
Initially, developers Randy Hogan and David Harper anticipated the entire first floor might be leased to shops and restaurants.
“I think there is still some possibility for retail,” said Harper, a leasing agent with Canal Properties LLC. “We have space that has a great patio outside and it’s directly across from the Toby Keith restaurant. But as we lease more office space, there is obviously less space for restaurants and retail.”
Two other retail buildings opened in conjunction with Harkins Theatres last year and are fully leased. Harper estimates about 5,500 square feet remain available in the Sonic building.
Hogan hopes that shortage of retail space will be addressed by a new five-story building to be built by Bricktown Entertainment LLC immediately west of the Centennial Fountain - the grand entry to Lower Bricktown.
Hogan said presales for the property’s 30 condominiums will start within the next month. The residences will range between 1,100 and 1,200 square feet, and will have enclosed parking. Sales prices are pending construction estimates being completed this month.
One retail tenant, whom Hogan would not identify, has signed a letter of intent to lease space on the building’s canal level and discussions are ongoing with several other shops and restaurants.
“We hope to start construction by year end,” Hogan said. “The interest level (in condominium sales) is high, but we need to firm up the costs and get about 10 presold.”
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