Oklahoma City Developments, Real Estates and Updates

[Laramie]

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    OKCTalk.com reports on Canoo

           Start-up Canoo has produced its first electronic vehicle at the new Oklahoma City plant.

     Link:  OKCTalk.com  https://www.okctalk.com/showthread.php?t=47299&page=9&p=1250275#post1250275
         
         

[Laramie]

   


     Devon Tower LED Lighting https://youtu.be/__u6actSTJ4

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[Laramie]

     KFOR Skycam Network | Downtown Oklahoma City

            https://kfor.com/downtown-oklahoma-city/

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[Laramie]

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         Drean Hotel Development to bring more towers to downtown Oklahoma City.

                   Oklahoma City Council approved incentives . . .



The incentive package will provide 90% of the ad valorem tax generated by the development over the 25-year life of the TIF with a cap at $200 million, as well as reimbursement of sales tax and use tax generated during construction capped at $5.5 million.

The development is estimated to cost more than $736 million, but the incentives are based on $550 million, which is the total less the 348-room Hyatt Dream Hotel and related components. The project lies in the no-subsidy zone under an agreement with Omni Oklahoma City Hotel that prohibits tax incentives for any other hotel for 15 years.--Journal Record, December 5, 2023

Three apartment towers will provide 924 units.  The development is estimated to cost more than $736 million, but the incentives are based on $550 million, which is the total less the 348-room Hyatt Dream Hotel and related components. The project lies in the no-subsidy zone under an agreement with Omni Oklahoma City Hotel that prohibits tax incentives for any other hotel for 15 years.

Looking at the inflation factor, if you compare this to OKANA development; it ballooned from $300 million to $400 million--25% inflation.

The pace of this development is picking up.

[Laramie]

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Proposition to fund new $900 million Downtown Oklahoma City arena passes.
 
KOCO-TV 5 - The passage comes with an agreement from the Thunder to stay in Oklahoma City through 2050
With all precincts reporting, about 71% of voters were in favor of funding a new downtown Oklahoma City arena.
More than 41,000 voters cast ballots to approve the proposition.

The newly approved plan calls for the arena to be funded by extending the MAPS 4 one-cent sales tax for an additional six years, which would include $70 million from previous money already set aside for the Paycom Center. The one-cent sales tax won't start until 2028.

Thunder ownership also agreed to contribute $50 million.

Keep OKC Big League campaign says vote will have long-lasting impact on city.

   
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[Laramie]

   City to opt out of extending lease agreement with Prairie Surf Media, new arena location
                                         frontrunner emerges:

     
     The former Cox Convention Center, now home to Prairie Surf Media, is the only city-owned site in downtown Oklahoma City
     that could be used for the new arena. (KOKH/Jake Baum)

Link:  https://okcfox.com/amp/news/local/city-moves-forward-with-ending-lease-agreement-with-prairie-surf-media-new-arena-location-frontrunner-emerges-okc-thunder-cox-convention-center-paycom

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[heironymouspasparagus]

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    OKCTalk.com reports on Canoo

           Start-up Canoo has produced its first electronic vehicle at the new Oklahoma City plant.

     Link:  OKCTalk.com  https://www.okctalk.com/showthread.php?t=47299&page=9&p=1250275#post1250275
         
         

Can't imagine why they wouldn't spend at least a few minutes looking at the coefficient of drag...at least give it a chance to have a tiny bit of streamlining.

[Red Arrow]

Can't imagine why they wouldn't spend at least a few minutes looking at the coefficient of drag...at least give it a chance to have a tiny bit of streamlining.

How much can really be done with a box on wheels.  At least they rounded the corners.

[Laramie]

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          Oklahoma City voters approve measure to fund new downtown arena.

                   

               KOCO-TV REPORTS:  https://www.youtube.com/watch?v=JKbfTBO98kk

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[Laramie]

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          Huge Aspirational 1,750 feet high 134 story Skyscraper
             Envisioned for Oklahoma City . . .        
           

             

         The tower would be the 2nd tallest building in the U.S. once constructed.
 
         His full vision, if realized, would include a 134-story apartment tower that would be twice the size of the 50-story Devon Energy Center.

         At 1,750 feet high, the tower, if fully built, would be a close second to the country's tallest building, the 1,776-foot-high One World Trade Center
         in New York City. The timing of the expansion decision, less than a week after Tuesday's vote to build a new arena, is no coincidence.

         Matteson also is expanding his plans for the remainder of the development, including a Hyatt Dream Hotel that is going up from 350 rooms to
         480 rooms.
 
         Link:  https://www.oklahoman.com/story/news/2023/12/18/developer-to-build-2nd-tallest-building-in-the-us-for-okc-apartments/71937684007/

         

         

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[Laramie]

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               The OAK, Oklahoma City
                Mixed-use development under construction in northwest OKC.

                   

               YouTube video: https://www.youtube.com/watch?v=hU4CCkFO1vY

                     The Oak $200 million development.


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[Laramie]

PRESS RELEASE

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ORANGE, Calif., Jan. 19, 2024 (GLOBE NEWSWIRE) -- Matteson Capital, a multifaceted real estate investment and development company operating since 2004, and AO, a leading full-service architecture firm with design expertise spanning the full commercial and multi-family real estate spectrum, announced today that they will request a variance from the City of Oklahoma City to increase the height for one of the towers in the already entitled development known as The Boardwalk at Bricktown. If approved, the height variance will make the structure the tallest building in the United States and currently fifth tallest in the world.

The ambitious development features a collection of three towers, each rising to 345 feet, and a fourth striking supertall tower, referred to as Legends Tower, that ascends to 1,907 feet, creating an impressive silhouette against the Oklahoma City skyline. The symbolic height honors the year that Oklahoma was admitted as the 46th state of the United States.

Spanning approximately 5 million square feet, the project is a mixed-use marvel, including a 480-key Dream Hotel by Hyatt with 85 residential serviced condominiums in the Dream Tower; an additional 350-key Hyatt hotel with 100 serviced condominiums in the Legends Tower; 1,776 residential units ranging from market-rate to affordable workforce and luxury options; and a vibrant retail and restaurant scene with over 110,000 square feet of space designated for commercial use, food and beverage, and a workforce development center for the community at the street and second levels. The top floors of the supertall tower will consist of a public observatory, restaurant and bar where visitors will be able to enjoy the sweeping city views.

Notably, the design incorporates extraordinary public spaces that are poised to become central hubs for community engagement. Among these is an impressive 17,000 square foot lagoon and water feature surrounded by a boardwalk that adds a tranquil, yet lively, entertainment atmosphere to the development. Additionally, the project boasts several expansive roof-decks, providing residents and visitors with unparalleled views of the city and creating an urban oasis in the heart of Oklahoma City.

"Oklahoma City is experiencing a significant period of growth and transformation, making it well-positioned to support large-scale projects like the one envisioned for Bricktown," said Scot Matteson, CEO of Matteson Capital. "We believe that this development will be an iconic destination for the city, further driving the expansion and diversification of the growing economy, drawing in investment, new businesses, and jobs. It's a dynamic environment and we hope to see The Boardwalk at Bricktown stand as the pride of Oklahoma City."

Bricktown, in particular, has become a premier destination within Oklahoma City. Expanding this vibrant hub is a priority for the city with more professional sports, entertainment and transit. The area already boasts attractions such as the Amtrak station; a movie theater; an NBA sports arena, which is home to the OKC Thunder; the recently renamed Oklahoma City Dodgers' minor league baseball stadium; as well as a forthcoming soccer stadium. The public also voted to fund a $900 million bond to build the Thunder a new state of the art arena in the area. The recently completed convention center is another opportunity to showcase this catalytic project, which will further complement the Bricktown Entertainment District. The Boardwalk at Bricktown aligns perfectly with the city's trajectory of becoming a center for cultural and economic activity.

"We are excited to embark upon this pivotal undertaking with a carefully assembled team of talented and experienced architects and designers from within our ranks," said Rob Budetti AO managing partner. "Crafting a project of this significance is an honor, and the collaborative process with the City, Matteson Capital, Hensel Phelps, and a top-notch team of engineers, consultants, and development partners has been exceptional. Managing the intricacies of such a project, ensuring seamless integration of all components, is a significant challenge. Fortunately, this aligns with one of AO's core strengths."

A development of this magnitude requires the subject matter expertise of multiple parties. In addition to architectural firm AO and developer Matteson Capital the project team includes development partners, ThinkBox and Legends Capital Management; structural engineers, Thorton Tomasetti; civil engineers, Johnson & Associates; fire life safety and energy, Siemens; general contractor, Hensel Phelps; and hotel management companies, Hyatt and Dream. The finance team for the project includes BCREM Incorporated and Global Economic Strategies. The legal team is headed by Greenberg Traurig, LLP.

Press Release via OKCTalk.com

[Laramie]

   

[Laramie]

     Oklahoma City tower seeks to take title of tallest building in the world from
        World Trade Center.

    Video news links:  https://www.youtube.com/watch?v=FXuB03EkrB4

                                                 https://youtu.be/WvlfU9XBlEc

     

[dbacksfan 2.0]

    Oklahoma City tower seeks to take title of tallest building in the world from
        World Trade Center.

    Video news links:  https://www.youtube.com/watch?v=FXuB03EkrB4

                                                 https://youtu.be/WvlfU9XBlEc

     

5th tallest building in the world, it will be ~800 feet short of the tallest in the world.

The city of Dubai, United Arab Emirates, contains the tallest building in the world, the Burj Khalifa, which towers over the desert city at 2,716.5 feet. The Legends Tower in Oklahoma City would officially become the fifth tallest building in the world if completed. 

https://people.com/a-new-tallest-building-in-america-has-been-proposed-in-this-unexpected-city-8549316#:~:text=The%20city%20of%20Dubai%2C%20United,in%20the%20world%20if%20completed.