New Hotel Proposed Across from Arena

[Gaspar]

The Hampton Inn Hotel and parking lot is off the table.

[]

Keep an eye on the Tulsa World for more details.

[sgrizzle]

Interesting...

[TURobY]

I just got over my last ulcer. Don't give me another one by keeping me in suspense...!

[dsjeffries]

Thank the Lord!  Detail, Gaspar, details!

[carltonplace]

Quick, everyone get a shovel and break ground before they change their minds again!

[Gaspar]

quote:Originally posted by dsjeffries

Thank the Lord!  Detail, Gaspar, details!

Tulsa World will have more details in the morning.  I can't comment at this point.  

[dsjeffries]

quote:Originally posted by Gaspar
Tulsa World will have more details in the morning.  I can't comment at this point.  

Today or tomorrow morning?

[Ibanez]

Just thinkin' about
Tomorrow
Clears away the cobwebs,
And the sorrow

[Ibanez]

Quick, someone shoot me before I post more showtune lyrics.

[tulsa1603]

http://www.tulsaworld.com/news/article.aspx?articleID=20081013_1__Plans61755

No more Hampton Inn

Let's hope this other one can happen then...

[RecycleMichael]

This is a telling line from the Tulsa World story...

"But Jones Lang LaSalle, the city's independent real estate consultants, indicated in a September letter to Tulsa Economic Development Director Mike Bunney that Raskin's proposal was "insufficient to accurately assess project feasibility."

Still needed were a development pro-forma, financing plans, site plans and a preliminary commitment from a hotel operator, according to the letter."

I tried looking up some history on this first developer and couldn't find much. It doesn't look like he has ever done anything close to this size. I found a bankruptcy, but not much more...that is not reassuring to me.

Gaspar...since you know this guy...can you get some more info on this developer? What else has he done...where is he gonna get $38.8 million...etc?

[Gaspar]

quote:Originally posted by RecycleMichael

This is a telling line from the Tulsa World story...

"But Jones Lang LaSalle, the city's independent real estate consultants, indicated in a September letter to Tulsa Economic Development Director Mike Bunney that Raskin's proposal was "insufficient to accurately assess project feasibility."

Still needed were a development pro-forma, financing plans, site plans and a preliminary commitment from a hotel operator, according to the letter."

I tried looking up some history on this first developer and couldn't find much. It doesn't look like he has ever done anything close to this size. I found a bankruptcy, but not much more...that is not reassuring to me.

Gaspar...since you know this guy...can you get some more info on this developer? What else has he done...where is he gonna get $38.8 million...etc?

Yes, He's an older gentleman (about 80) that has been developing in Oklahoma for about 30-40 years.  He's done about 500,000 sq ft of retail space all over the state, mostly small shopping centers.  He's also done several office buildings in Tulsa like the IBC bank building on 73rd and Lewis. and what everyone calls the Darth Vader building (BOK location) on 58th and Lewis.  He's worked on some of the malls in Oklahoma City and apartment complexes all over the place.

He knows what he's doing and how the game works.  He's very focused on doing what is right no matter how much it costs.  He'd rather just do things than talk about them.   We have confidence in his funding sources for this project, they are just not ready to go public yet, and won't do so until Howard makes his hotel selection.  

I have actually known him for my entire life through a close family friendship.  He's a very sweet, but tough old guy.  He's not going to rush this thing.

[RecycleMichael]

Thanks...I knew there had to be more than just pretty pictures.

I will be interested to read further developments...

[Gaspar]

quote:Originally posted by RecycleMichael

Thanks...I knew there had to be more than just pretty pictures.

I will be interested to read further developments...

I just got off the phone with Howard to follow up on some details.  Within the next week everything should be solid, and we will have some more exciting news, until then you just have to speculate.  []

[T-TownMike]

quote:Originally posted by Gaspar

The Hampton Inn Hotel and parking lot is off the table.

[]

Keep an eye on the Tulsa World for more details.

I'm taking the smilie as a good sign. Let's hope so. The area around the arena has major draw potential, I'd like to see it utilized as such. I'm hopeful that Raskin's deal gets done and they use frontage on at least three of the four corners, plus utilize the patio/balcony area as something very unique.

Every step of thinking urban in downtown, is a step in the right direction, IMO and Raskin's plan seems to be better planned in that direction. I can't wait for the details to unfold and to hopefully help spur growth downtown, so that is will become a vibrant place to be.