Atlas Life Building, to be hotel.

[Steve]

quote:Originally posted by sgrizzle

I'm betting that the sign will stay, it is too much a part of the building. It's not like Atlas Life is just now leaving the building. They can just ad a marriot sign or two. They may even call it "Marriot Tulsa Atlas Building" or something to that effect.

My first instinct when I read the story in this morning's Tulsa World was "what a shame."  But I will admit I know nothing about the tennant occupancy of the Atlas Life building, so the economics of the situation are beyond my comment.  I do remember that just in the past few years they resored the neon Atlas Life sign, and I think they should definately keep this as part of the historic building and the Boston Avenue experience.

[sgrizzle]

quote:Originally posted by Steve

quote:Originally posted by sgrizzle

I'm betting that the sign will stay, it is too much a part of the building. It's not like Atlas Life is just now leaving the building. They can just ad a marriot sign or two. They may even call it "Marriot Tulsa Atlas Building" or something to that effect.

My first instinct when I read the story in this morning's Tulsa World was "what a shame."  But I will admit I know nothing about the tennant occupancy of the Atlas Life building, so the economics of the situation are beyond my comment.  I do remember that just in the past few years they resored the neon Atlas Life sign, and I think they should definately keep this as part of the historic building and the Boston Avenue experience.

I am betting most of the occupants will stay downtown and the net effect on occupancy rate will be good.

[sgrizzle]

quote:Originally posted by inteller

yeah, if it gives Kanbar a chance to renovate some of his other digs then it will be great.  I suspect he can move a bunch into the Mcfarlin building.

I thought McFarlin had other owners, which is why renovation has actually been done on it as opposed to the rather stagnant state of most of the Kanbar portfolio.

Sorrano's was good, but in a semi-crappy location. Wasn't even that convenient for people in that building.

[AVERAGE JOE]

quote:Originally posted by Kenosha

I hope the New Atlas Grill won't be permanently relocated....it would be a great addition to a hotel lobby.

No need to worry. Press Club is fine too.

[Kenosha]

quote:Originally posted by AVERAGE JOE

quote:Originally posted by Kenosha

I hope the New Atlas Grill won't be permanently relocated....it would be a great addition to a hotel lobby.

No need to worry. Press Club is fine too.

I suspected.  Hope they go for that 40%  historic tax credit...

[swake]

quote:Originally posted by sgrizzle

quote:Originally posted by inteller

yeah, if it gives Kanbar a chance to renovate some of his other digs then it will be great.  I suspect he can move a bunch into the Mcfarlin building.

I thought McFarlin had other owners, which is why renovation has actually been done on it as opposed to the rather stagnant state of most of the Kanbar portfolio.

Sorrano's was good, but in a semi-crappy location. Wasn't even that convenient for people in that building.

No exterior door kills that location for most uses.

[inteller]

quote:Originally posted by sgrizzle

quote:Originally posted by inteller

yeah, if it gives Kanbar a chance to renovate some of his other digs then it will be great.  I suspect he can move a bunch into the Mcfarlin building.

I thought McFarlin had other owners, which is why renovation has actually been done on it as opposed to the rather stagnant state of most of the Kanbar portfolio.

Sorrano's was good, but in a semi-crappy location. Wasn't even that convenient for people in that building.

no, thats why they knocked down the two adjacent buildings to make way for parking....because you know there isnt enough parking downtown.

[cannon_fodder]

Exciting news to me.  Though I refuse to actually get excited until the project is underway.

The Atlas building is a cluster on the inside.  Taking NOTHING away from the amazing architecture and detail - it is dark, cramped in places, and hard to navigate.  The office floors are entirely out of date.  Major work will be needed to make it into a viable hotel and I really hope they keep the charm and art-deco feel of the inside (I'm sure they will as why else choose that building?).

It is a good sign when private money bets in an area.  We are starting to see a trickle of bets in downtown, I hope the flood gates open.

BUT - what does this do for the prospects of the "old" city hall or the much anticipated Tower Apartment area across from the arena?

[TheArtist]

You dont reeeeally think that anyone is going to do something with the old city hall site do ya? That was just a line to get people on board for the new city hall. Which I still think is a good move.  The area right next to the Arena where the Towerview was, is still the most likely bet for a large hotel development or hotel/mixed use development. Plus the Atlas Hotel will not have that many rooms. Its supposed to be a "botique" hotel. Wont put much of a dent in over all room numbers.

[sgrizzle]

quote:Originally posted by inteller

quote:Originally posted by sgrizzle

quote:Originally posted by inteller

yeah, if it gives Kanbar a chance to renovate some of his other digs then it will be great.  I suspect he can move a bunch into the Mcfarlin building.

I thought McFarlin had other owners, which is why renovation has actually been done on it as opposed to the rather stagnant state of most of the Kanbar portfolio.

Sorrano's was good, but in a semi-crappy location. Wasn't even that convenient for people in that building.

no, thats why they knocked down the two adjacent buildings to make way for parking....because you know there isnt enough parking downtown.

Kanbar knocked down the two buildings next door after the guy working in it fell through the floor.

[sgrizzle]

quote:Originally posted by TheArtist

You dont reeeeally think that anyone is going to do something with the old city hall site do ya? That was just a line to get people on board for the new city hall. Which I still think is a good move.  The area right next to the Arena where the Towerview was, is still the most likely bet for a large hotel development or hotel/mixed use development. Plus the Atlas Hotel will not have that many rooms. Its supposed to be a "botique" hotel. Wont put much of a dent in over all room numbers.

86,000sqft can make a good number of hotel rooms.

My bet is still on towerview for adjacent hotel., although it is hard to beat the possibility of direct connection to the convention center. City Hall probably needs the library parcel as well to be a real attractive property.

[swake]

quote:Originally posted by inteller

quote:Originally posted by sgrizzle

quote:Originally posted by inteller

yeah, if it gives Kanbar a chance to renovate some of his other digs then it will be great.  I suspect he can move a bunch into the Mcfarlin building.

I thought McFarlin had other owners, which is why renovation has actually been done on it as opposed to the rather stagnant state of most of the Kanbar portfolio.

Sorrano's was good, but in a semi-crappy location. Wasn't even that convenient for people in that building.

no, thats why they knocked down the two adjacent buildings to make way for parking....because you know there isnt enough parking downtown.

Kanbar did level those two buildings, but they were part of his purchase of the First Place Tower and he does not own the McFarlin building.

[PonderInc]

The TW article stated the hotel will be a Mariott.  Looks like the boutique niche is a new venture for Mariott...called "Edition."  They recently announced that the first Mariott Edition hotels will be in Paris, Madrid, South Beach in Miami, Chicago, Washington, D.C., Costa Rica, Los Angeles and Scottsdale, Arizona. To that list, should we add...Tulsa?
http://www.blogs.marriott.com/default.asp?item=737965

[cannon_fodder]

quote:You dont reeeeally think that anyone is going to do something with the old city hall site do ya? That was just a line to get people on board for the new city hall.

No, I don't think anyone is going to touch that building.  No possibility of attached parking (I know it is less than a black away, but across the street the DoubleTree has attached).  Ugly. Old. And poorly maintained.  It might make a good call center if they offered nearly free rent.

I was in favor of the City Hall move IF it made financial "cents."  It only did so pretending the city was able to get something from and/or not maintain the properties it abandoned.  Which it will not.  

Bah, I don't want to deviate any more... just wanted to point out that there is a finite need for hotels downtown and this developer made a conscious decision to remodel the Atlas building instead of building near the arena.

[swake]

quote:Originally posted by cannon_fodder

quote:You dont reeeeally think that anyone is going to do something with the old city hall site do ya? That was just a line to get people on board for the new city hall.

No, I don't think anyone is going to touch that building.  No possibility of attached parking (I know it is less than a black away, but across the street the DoubleTree has attached).  Ugly. Old. And poorly maintained.  It might make a good call center if they offered nearly free rent.

I was in favor of the City Hall move IF it made financial "cents."  It only did so pretending the city was able to get something from and/or not maintain the properties it abandoned.  Which it will not.  

Bah, I don't want to deviate any more... just wanted to point out that there is a finite need for hotels downtown and this developer made a conscious decision to remodel the Atlas building instead of building near the arena.

I'm pretty sure they are not going to be maintaining those old buildings, unless by "maintain" you mean "demolish".

http://www.tulsaworld.com/news/article.aspx?articleID=070715_1_A1_spanc10317

Quote:  The $76 million of indebtedness to be taken on by the city includes the building purchase price, which was confirmed at $52.25 million; relocation costs; bonding costs; demolition of some vacated city structures; security; and consultant fees.