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Winthrop Realty Agrees to Acquire S. OK City M-F Property

24 Aug 2013, 8:07 pm

By Gabriel Circiog, Associate Editor

Winthrop Realty Trust has agreed to acquire Summit Pointe Apartments, a 184-unit multi-family community in South Oklahoma City, through a joint venture. In an Aug. 22 statement, the Boston-based REIT estimated its capital contribution to the venture at $4.8 million. The transaction is expected to close next month.

Located at 1002 South West 89th St., Summit Pointe offers easy access to I-35 and I-240. Tinker Air Force Base, Bricktown and downtown Oklahoma City are within a short driving distance.

According to the Web site of Commercial Realty Resources Co., the property was completed in 2010. Units feature air conditioning, hardwood flooring, dishwashers, stainless steel appliances, new or renovated interiors and oversized closets. Its amenities include a clubhouse, fitness center, pet park, garage, laundry facility, playground and swimming pool.

Photo Courtesy of: Summit Pointe Apartments via Facebook

Conservative Group Challenges ACLU Over City’s Plan to Use Church for Senior Center

8 Aug 2013, 4:27 pm

By Gabriel Circiog, Associate Editor

A conservative legal group has jumped into the First Amendment fray over Oklahoma City’s plans to lease or acquire part of a church for a senior wellness center.

The Liberty Institute offered a letter of support to the city’s plans to set up the facility at Putnam City Baptist Church. The letter came in response to the American Civil Liberty Union’s contention that the proposal would violate constitutional barriers to separation of church and state.

“After reviewing relevant facts of the case, we concluded that the ACLU’s concerns are either moot or unfounded. The mere fact that the City endeavors to lease or purchase a portion of the Church’s property does not create an Establishment Clause violation under the First Amendment to the United State Constitution,” wrote Michael Berry, an attorney for the Liberty Institute.

Ryan Kiesel, executive director of ACLU’s Oklahoma City office, told the city council last month that using church property for the senior center could create an overlap between public and religious purposes in violation of First Amendment prohibitions against the establishment of religion in public facilities, according to the Oklahoman.

Kiesel raised concerns about plans to offer Bible study classes at the center, hire staff according to the church’s own practices and operate the center by church hours.

At that time, the church’s pastor, the Rev. Bill Hulse, acknowledged that the original plan had been drawn up in haste, leading to the impression that the proposal violated the First Amendment’s establishment clause, the Oklahoman reported.

However, Hulse said, the church had taken steps to avoid a conflict by starting a non-profit group to operate the center.

RES Americas, Arkansas Electric Strike Deal for Murray and Carter Counties Wind Project

28 Jul 2013, 6:26 pm

By Gabriel Circiog, Associate Editor

RES America Developments Inc., a subsidiary of Renewable Energy Systems Americas Inc., has reached a long-term agreement to sell 150 megawatts of wind energy to Arkansas Electric Cooperative Corp.

“This purchase demonstrates AECC’s forward-looking approach to diversifying their portfolio, as well as their understanding of the economic benefits that long-term, low-priced wind energy contracts offer to their members,” said Tom Hiester, RES Americas’ senior vice president of development.

Little Rock, Ark.-based AECC will be the sole customer for RES America’s Origin Wind Energy project, which will comprise 75 turbines in Murray and Carter counties. Commercial operation is scheduled to start by December 31, 2014.

“The latest addition of 150 megawatts of low-cost wind energy provides AECC with a hedge against fluctuating natural gas energy prices,” said Duane Highley, president & CEO of the wholesale electricity supplier. “AECC will have 201 megawatts of wind energy in its generation assets with this addition. We will continue to pursue energy options that allow AECC’s member cooperatives to provide reliable electricity at the lowest possible cost.”

Announced on July 22, the agreement was made possible by the National Renewables Cooperative Organization, which enables electricity cooperatives across the country to pool ownership and benefits of renewable resources.

Photo Courtesy of: www.res-americas.com

Promise Hotels Acquires Hyatt Place Tulsa Southern Hills

20 Jul 2013, 10:04 pm

By Gabriel Circiog, Associate Editor

Promise Hotels has acquired the Hyatt Place Tulsa Southern Hills, a 126-key property located at 7037 South Zurich Ave. in the South Tulsa Medical District.

County records report the hotel’s sale price as $8.4 million, according to the Tulsa World.

“The Hyatt Place, which has been renamed to the Tulsa South/Medical District . . . fits nicely into our growth strategy, in terms of geography, brand, and quality,” Promise Hotels president & CEO Paresh Patel explained in a statement. “With our hotel management track record of success, we are confident this hotel will have a solid performance and positive return on investment for owners and first-class hospitality experience for guests.”

Situated near St. Francis Hospital and the intersection of 71st St. and Yale Ave., the six-story, 75,792-square-foot property is located in the heart of Tulsa’s business and shopping district. The Hyatt Place offers high-definition TVs, complimentary Wi-Fi access throughout the property and 1,100 square feet of meeting space able to accommodate 75 guests.

In multi-family transaction news, a Tulsa asset is one of three sold by Continental Properties Company, Inc., the company announced on July 9. Springs at East Fifty-First, a 168-unit complex, is located north of Broken Arrow Expressway. It opened in November 2011. According to the Tulsa World, the property commanded $17 million from a buyer with a Los Angeles address identified in public records as East Fifty First Property Owners L.L.C.

Menomonee Falls, Wis.-based Continental also sold Springs at Chatham Parkway, comprising 352 units in Savannah, Ga., and Springs at Heritage Lakes, a 184-unit property in Lincoln, Neb.

Photo Courtesy of: www.tulsa.place.hyatt.com

2 Tulsa Sites Totaling 310 Acres Slated for Aug. 20 Auction

14 Jul 2013, 7:31 pm

By Gabriel Circiog, Associate Editor

Schrader Real Estate and Auction Co. will auction two sites totaling 310 acres northwest of Tulsa’s central business district on Aug. 20, the Columbia City-based company said.

Slightly more than half the property–160 acres–is located at Osage Drive / 43rd Street and North 25th West Avenue and will be sold in eight tracts varying in approximate size from 11 to 48 acres. The other 150 acres are about 3.5 miles to the south, bordered by 33rd West Avenue, West Edison Street and 41st West Avenue. The latter plot will be sold in 12 tracts ranging from 3 to 37 acres.

Brett Wellings, manager of Schrader’s Southwest operations, said: “These properties have a great deal of frontage and are all located within a few minutes of Tulsa’s central business district. Most is currently open pasture and woodland, but we expect considerable interest in much of it as development land. The tracts in the group to the north are less than a mile from Osage Casino, with frontage on the recently expanded 43rd Street. The southern group of tracts is right across the street from Central High School.”

The southern parcels include a 22-acre tract with a pond and an adjacent 37-acre tract with a creek running through it. The auction is scheduled to start at 6:30 p.m. at Post Oak Lodge, located at 5323 West 31st Street North in Tulsa.

In local investment sales news, Imation Corp. has tapped Binswanger to market a 179,270-square-foot industrial building in Weatherford. Located on a 50-acre site at 2700 East Frontage Road, the fully air-conditioned structure was built in 1975 and expanded in 1995. The property features a 162,370-square-foot industrial plant and three ancillary buildings totaling 16,900 square feet.

Image Courtesy of: www.schraderauction.com

Glimcher Sells Tulsa Promenade Mall

8 Jul 2013, 1:32 am

By Gabriel Circiog, Associate Editor

Tulsa Promenade Realty Management L.L.C., a private investor, has acquired Tulsa Promenade in a $12.3 million deal from a joint venture of Glimcher Realty Trust and an affiliate of Oxford Properties Group. The proceeds were used to retire the mortgage on the property.

Mike Kohen, Tulsa Promenade Realty Management’s CEO, told Fox23.com that he plans to improve the mall and diversify its tenant mix by attracting national and local retailers.

“Today’s transaction further illustrates our focus on enhancing the quality of the portfolio and managing our balance sheet leverage,” stated Michael P. Glimcher, chairman & CEO of the Ohio-based REIT, which was the property’s majority owner.  “The completed sales of Tulsa Promenade and Lloyd Center along with our recent acquisitions are accelerating our transformation.”

The venture continues to operate another mall in the Glimcher portfolio.

Located at 4107 South Yale Ave., in Midtown Tulsa, the 926,426-square-foot mall was built in 1965 as an open-air center and was originally named Southland.  The center was enclosed and given its current name in 1987. Its anchor tenants include JCPenney, Dillard’s and Macy’s.

Photo Courtesy of: www.facebook.com/TulsaPromenade

City Weighs Urban Renewal Plan for Midtown

25 Jun 2013, 3:44 pm

By Gabriel Circiog, Associate Editor

In an early step toward encouraging redevelopment in Midtown Oklahoma City, urban renewal officials are considering changes to the 15-year-old blueprint that governs redevelopment in North Downtown.

On June 19, the executive director of the city Urban Renewal Authority, Catherine O’Connor, formally presented a staff report on the plan to the agency’s commissioners.

Dubbed the Midtown Urban Renewal Plan, the proposal would permit the agency to enter into participation agreements with Midtown property owners to encourage them to redevelop their properties. Redevelopment has revitalized Midtown since 1998, when the city adopted the blueprint, known as the North Downtown Redevelopment Plan.

However, the Urban Renewal Authority contends that the changes are necessary in order to alleviate what it regards as blighted conditions.

Highlights of the proposal include:

• Adding structured parking to expand parking options
• Identifying key sites for development
• Identifying benefits the proposed streetcar will create through examining its potential routes
• Supporting rights-of-way, parks and other public spaces
• Enhancing the area as a vibrant, urban neighborhood
• Supporting the Oklahoma City University School of Law, the St. Anthony Hospital and its campus

In the next stage of the process the plan will then be presented to the Planning Commission and City Council for review and approval. The Urban Renewal Authority has hired Butzer Gardner Architects to provide urban planning consulting services. Authority staff members and Butzer Gardner held multiple meetings with the city planning department, stakeholder groups and the public to elicit feedback on redevelopment issues.

The current redevelopment policy originated in October 1997, when the city declared the area bounded by N.W. 13th Street on the north, the railroad on the east, N.W. 4th Street on the south and Classen Boulevard on the west to be blighted. In June 1998, the city adopted the North Downtown Redevelopment Plan in order to boost the area in the wake of the A.P. Murrah Federal Building bombing and to encourage St. Anthony’s Hospital to remain in the area.

Logo Courtesy of: www.ocura-ok.org

Tanenbaum’s Plan for M-F Project on John Marshall High School Site Wins Key Approval

14 Jun 2013, 8:20 pm

By Gabriel Circiog, Associate Editor

The Oklahoma City Planning Commission has approved Richard Tanenbaum’s plans to build an apartment complex on the former site of John Marshall High School. The plan now goes to the city council for a final vote.

NewsOK.com reports that Tanenbaum is planning to bring the “Big House” multi-family design of Dallas-based Humphreys & Partners Architects to Oklahoma City. He said the gated development, dubbed Marshall Square, will resemble large single-family homes more closely than conventional apartment buildings.

After visiting two Big House projects in Dallas and another in Tulsa, Tanenbaum decided that the gated Marshall Square would be a perfect fit for the former high school site situated southwest of Britton Road and Western Ave. Earlier this year, Tanenbaum’s Premier Assets acquired the property, which includes three buildings totaling 220,000 square feet, in a $400,000 deal with Oklahoma City Public Schools. The property had been listed in 2011 for $650,000, and although there had been several buyers under contract, each of the previous deals fell through.

Located at 9017 North University Ave., the 20-acre property is surrounded by single-family homes. The commission approved the plan over objections from some residents, who submitted petitions with more than 250 signatures detailing concerns about the project’s impact on density and traffic. The current plan, a revision of Tanenbaum’s original proposal,  would result in 30 percent less traffic, which would amount to less traffic than when the high school was operating.

Constructed in the late 1940s,the school buildings have been unused for several years and have issues such as mold and stripped wiring. At least one fire has been intentionally set. Tanenbaum said the land was a good investment but that he plans to demolish the buildings.

Rendering of Mueller Big House in Austin Texas Courtesy of: Humphreys & Partners Architects

ClubCorp Buys Oak Tree Country Club in Edmond

3 Jun 2013, 2:20 pm

By Gabriel Circiog, Associate Editor

ClubCorp has acquired Oak Tree Country Club in Edmond, about 15 miles north of Oklahoma City.

The new owners are planning a multimillion-dollar capital improvement project, which will include renovations and upgrades to the clubhouse, including the expansion of casual dining and the addition of an outdoor dining area.

Other improvements target the tennis, golf, pool and fitness areas. Oak Tree was designed by golf course architect Pete Dye and its two 18-hole golf courses have earned spots on the Golf Digest Top 10 “Best in State” rankings. Oak Tree is the only private country club in the metro area to feature 36 holes of golf.

“We are very excited about the addition of Oak Tree Country Club, nationally recognized as one of the preeminent clubs in Oklahoma, which gives us a presence in the state and increases our brand awareness nationwide,” said Mark Burnett, ClubCorp executive vice president, golf and country club division.

The property features a 65,000-square-foot clubhouse with three levels of dining, a men’s locker room and grill, ladies’ locker room and grill, and a golf pro shop. The club offers a 75,000-square-foot sports facility which features six indoor tennis courts, six outdoor tennis courts, a fitness center, indoor jogging track, aerobics studio, racquetball court, basketball court and additional locker rooms with whirlpools and saunas. An Olympic-size swimming pool and children’s wading pool are also included.

Ownership and development rights to 200-plus acres of land within the Oak Tree community are retained by Oak Tree Partners L.L.C., a local real estate partnership led by Tom Blanton and Jeff Bolding, which acquired the property in 2004.

Photo Courtesy of ClubCorp

Funding for 2 Museums Gains in Legislature

30 May 2013, 1:36 pm

By Gabriel Circiog, Associate Editor

Giving a major boost to two Oklahoma museums, the state senate committee on appropriations and budget has approved measures that would direct tax receipts toward a pair of Oklahoma museum projects, NewsOK.com reports. Next, the committee’s counterpart in the house will consider the proposal.

The beneficiaries of the funding would be the American Indian Cultural Center and Museum in downtown Oklahoma City and the Oklahoma Museum of Popular Culture in Tulsa. Lawmakers voted 16-10 to use sales tax revenue from Internet and out-of-state purchases to provide $40 million toward completion of the American Indian Cultural Center and Museum in downtown Oklahoma City.

Also approved was $40 million in state sales tax collection to provide initial funding for the Oklahoma Museum of Popular Culture, also known as OK Pop, which is planned for the Brady District in Tulsa.

Senator Clark Jolley, the committee chairman, said that the money will start flowing to the projects during the 2015 fiscal year, which begins July 1, 2014. OK Pop will receive tax money for four years and the funding of the Oklahoma City museum will be for construction.

Blake Wade, executive director of the Native American Cultural and Educational Authority, said that $40 million in private pledges has been raised for the Oklahona City museum. State bond issues have provided $63 million to go with $14.5 million in federal funding and a city grant of $4.9 million and 250 acres of land.

For the OK Pop museum Tulsa has pledged $3 million and Bank of America has offered a parcel in the Brady Arts District valued at $2.5 million.

Image Courtesy of: The American Indian Cultural Center Museum via Facebook

Government, Nonprofits Rush to Moore’s Aid Following Tornado

26 May 2013, 12:43 am

By Gabriel Circiog, Associate Editor

In the wake of the May 20 tornado that ravaged Moore, Okla., killing at least 24 people, non-profit and governmental organizations have announced steps to address both the emergency response and long-term rebuilding.

Architecture for Humanity has started working with local and regional construction professionals to assess damage and support rebuilding. The nonprofit design services firm is working on rebuilding areas devastated by Superstorm Sandy and participated in rebuilding communities affected by Hurricane Katrina 2005.

“After the Haiti earthquake, students from Moore West Junior High raised funds for the organization to help rebuild schools for displaced students,” said Cameron Sinclair, Architecture for Humanity’s co-founder, in a statement. “Our thoughts are with the entire community of Moore, OK and those affected.”

The United States Department of Agriculture announced a series of measures it will take to help homeowners affected by the recent tornadoes in Oklahoma. “I have instructed all (U.S. Department of Agriculture)offices in the disaster area as well as other offices throughout Oklahoma to do whatever they can to ensure that residents get the help they need to recover from this devastating event as quickly as possible,” said Agriculture Secretary Tom Vilsack.

Toward that end, USDA will provide the Federal Emergency Management Agency with an inventory of unoccupied multi-family rental units. FEMA has notified lenders who guarantee USDA housing loans that they can offer a moratorium on mortgage payments to the borrowers in the disaster area.

Residents left homeless by the tornadoes will be given priority for placement in available USDA multi-family housing units and the owners of those complexes will be allowed to waive age and income eligibility rules.
USDA will also give FEMA a list of foreclosed properties in the department’s inventory that FEMA will be able to offer for temporary housing.

Photo Credits: DVIDSHUB via Flickr.com

Case Ready to Start $21M Jenks M-F Project After Delay for Flood-Control Compliance

29 Apr 2013, 3:41 pm

By Gabriel Circiog, Associate Editor

Case & Associates is ready to kick off a 260-unit multi-family project in Jenks after a recent delay mandated by federal flood-control regulations.

As previously reported by Multi-Housing News, the Jenks city council approved a zoning change from commercia l to residential use last November for the $21 million project on South Elm Street.

But as The Tulsa World
reports, the Federal Emergency Management Agency determined that the site is located in a flood plain. As a result, Tulsa-based Case had to wait for the previous owner to raise the site’s elevation an average of 3 to 5 feet. Company president Scott Case told the World that the Reserve at Elm had the longest lead time of any project undertaken by the firm to date.

When construction is complete in about 10 months, the apartment community will be the largest multi-family property in Jenks. It will comprise 130 one-bedroom units and 130 two-bedroom units varying in size from 789 to 1,176 square feet; monthly rents will range from $799 to $1,099. Amenities will include a clubhouse, fitness center, business center, gated access, a dog park, picnic areas, 60 garages and an outdoor swimming pool.

Elsewhere in the area, Case is weeks away from completing the Cascata Apartments, a $22 million, 286-unit project at 81st Street and Mingo Road. Case reported that the property is already 15 percent pre-leased.

Photo of Cascata Apartments courtesy of: www.cascataapartmentstulsa.com

GE Eyes Sites for $110M Research Center

19 Apr 2013, 3:06 pm

By Gabriel Circiog, Associate Editor

General Electric will build a $110 million Global Research Center in the Oklahoma City area that will pursue innovation in the oil and gas sector and to bringing products to the market faster.

Announced April 3 at the capitol by GE chairman & CEO Jeff Immelt and Gov. Mary Fallin, the facility will be GE Research’s first-sector specific center. It will initially create 125 high-tech jobs for researchers, who will join GE’s global network of 50,000 scientists and engineers.

GE did not immediately reveal details about the facility’s location, design or development timetable. The company said that it is evaluating sites that can draw on educational institutions like the University of Oklahoma and on the metro region’s skilled workforce. Oklahoma City is also home to GE Oil & Gas’ Artificial Lift business, which has more than 550 employees.

“Advancements in technology are revolutionizing the way energy is produced, whether it be deeper subsea fields, hard to reach unconventional resource sources, or mature oil fields getting a second life,” said Daniel Heintzelman, president & CEO of GE Oil & Gas. “The creation of the new center, in close proximity to many of our customers, will allow us to accelerate the development of new technologies and enable GE to deliver even more advanced solutions to our customers faster.”

At the outset, the new center will focus on technologies that permit safe, efficient and reliable production, delivery and use of unconventional oil and gas resources. Unconventional resources like shale gas have the potential to create jobs, fuel innovation and lead to greater energy independence, the company said.

 “At GE, we see a tremendous opportunity in the oil and gas space, “said Immelt. “Since 2007, we have invested $11 billion to build broad technical capabilities that can deliver productivity gains and foster innovation for our customers.”

Photo Courtesy of: GE Power & Water via www.genewscenter.com

After 100 Years, Sunbeam Family Services Mounts $12M Campaign for New HQ on North Classen

14 Apr 2013, 10:41 pm

By Gabriel Circiog, Associate Editor

When Sunbeam Family Services moved to its current location at 616 N.W. 21st Street in 1912, the building was on the northern outskirts of Oklahoma City. Much has changed in the century since then; the city has grown up around the building, which now sits tucked away in a residential neighborhood. And Sunbeam—which offers early childhood education, foster care, counseling and senior services free or a sliding-scale basis—has outgrown its longtime home.

To enhance its mission of serving central Oklahoma’s most vulnerable citizens, Sunbeam has launched a $12 million capital campaign to raise funds for a new 45,000-square-foot headquarters at 1411 North Classen Boulevard, The City Sentinel reports. Sunbeam has raised $8.4 million toward its goal.

Designed by Rees Associates Inc., the two-story building will provide a user-friendly space in a safe neighborhood for children adults and seniors. The facility will have improved access for the disabled and will be more accessible by bus for low-income clients. Sunbeam’s new headquarters will bring its programs and services together under one roof and trim its overhead. Tulsa-based Flintco L.L.C. will serve as the project’s general contractor.

Rendering: Sunbeam Family Services.

InterContinental Hotels, NewcrestImage Team Up for Bricktown Hotel

8 Apr 2013, 11:15 pm

By Gabriel Circiog, Associate Editor

InterContinental Hotels Group announced late last month that the Bricktown entertainment district will be the site of its next development in Oklahoma City. The hotel company is partnering with NewcrestImage to develop a 124-key Holiday Inn Express at 101 East Main St. Construction is scheduled for completion by the end of the year, followed by a grand opening in early 2014.

The Holiday Inn Express Bricktown will be the seventh property developed by NewcrestImage under the InterContinental Hotels Group family of hotel brands. The company has a portfolio of six Holiday Inn Express properties, totaling more than 450 keys, in Arkansas and Texas. Another three hotels are in NewcrestImage’s development pipeline.

“This is a strong market and is well positioned for growth,” commented Daxesh Patel, managing partner with NewcrestImage, “We are looking forward to working with IHG on this new hotel.”

Located near the Bricktown Ballpark, Cox Convention Center and Chesapeake Energy Arena, home of the National Basketball Association’s Oklahoma City Thunder, the 70,500-square-foot hotel will be built by Brightman Construction, an affiliate of NewcrestImage.

“The Holiday Inn brand family is the fastest-growing chain globally in its segment; and we remain focused on strengthening that presence even further in the right markets through strong relationships with our owner community,” said Joel Eisemann, Chief Development Officer, The Americas, InterContinental Hotels Group.

Rendering Courtesy of: www.brightmanc.com

City Renews Hunt for M-F Developer to Top Off 10-Story Downtown Parking Structure

15 Mar 2013, 10:41 pm

By Gabriel Circiog, Associate Editor

As construction of a Downtown Oklahoma City parking structure nears, the Oklahoma City Urban Renewal Authority is trying for the second time this year to recruit a developer to top off the 10-story structure with housing.

NewsOK.com reports that the Central Oklahoma Transportation and Parking Authority has signed off on a $20.6 million bid by Tulsa-based Flintco to build a 10-story garage with 20,000 square feet of ground-floor retail space, reports NewsOK.com. Flintco will build the 830-space structure west of the Hightower Building at 105 North Hudson Ave.

After its first invitation to developers in January got no takers, the city urban renewal agency is again looking for candidates to build up to 80 units of housing on the structure’s top three levels.

In other local real estate news, Tulsa World reports that Kanbar Properties may try to sell more of the 13 properties in its 2.1 million-square-foot portfolio, which accounts for about 30 percent of Downtown Tulsa’s inventory of office space. Bob Pielsticker of CB Richard Ellis/Oklahoma made the comments March 13 during a meeting of the Greater Tulsa Association of Realtors.

John and Stuart Price, the investors and developers who bought a stake in Kanbar Properties last fall, have “a clear plan” for the 13 buildings, Pielsticker told the audience, according to the World.

In February, the First Presbyterian Church paid $2.1 million for the Avanti Building at 810 South Cincinnati Ave. Pielsticker noted that three additional buildings have been put up for sale.

The owners may try to repurpose other properties, such as the Pythian Building at 423 South Boulder and the TransOK Building at 2 West 6th Street, as multi-family properties.

Rendering: www.theallianceokc.org

Von Maur Eyes 2014 Opening at Quail Springs Mall for First Oklahoma Store

12 Mar 2013, 2:23 pm

By Gabriel Circiog, Associate Editor

In the latest indication of the Oklahoma City area’s retail revival, Von Maur Department Stores has picked the city as the site of its first location in the state. The upscale retail chain plans to open a 150,000-square-foot store at General Growth Properties Inc.’s Quail Springs Mall in the fall of 2014.

This summer Von Maur will begin renovating the store’s future site, a two-level building formerly occupied by Sears. Antiques, original artwork, piano music and the chain’s signature brick façade will characterize the new store.  Elsewhere in the nation, Von Maur plans new stores in New York and Alabama.

Von Maur’s announcement follows numerous other signs of the metro region’s retail rebound. Last year Dick’s Sporting Goods opened four stores, two in Oklahoma City and one each in Moore and Midwest City, according to a report on the store opening from the Greater Oklahoma City Chamber of Commerce. In the past few years established and new-to-market restaurants and retailers have arrived, including Genghis Grill, Smashburger and GolfSmith.

Also in 2012, Horizon Group Properties completed a 27,800-square-foot addition to Outlet Shoppes at Oklahoma City only 15 months after opening the center’s first phase. A second expansion is on the way, according to the Chamber of Commerce.

Job growth and the increase in sales tax collections continue to boost the local economy. Collections in December increased 9.9 percent year over year. For 20 of the past 24 months, Oklahoma City’s unemployment rate has been the lowest in the country, the Chamber of Commerce reported.


Paycom Plans $11.8M Expansion of W. Memorial Rd. Headquarters

17 Feb 2013, 3:38 pm

By Gabriel Circiog, Associate Editor

Paycom plans to break ground next month on an $11.8 million expansion of its Oklahoma City headquarters, the payroll and human capital management technology company said on Feb. 13. The addition would augment the 90,000-square-foot headquarters that Paycom opened at 7501 West Memorial Rd. in Aug. 2011, which is expected to reach capacity late next year.

City officials are weighing a proposal to provide $1.25 million in economic development incentives in connection with the expansion, newsok.com reported. Paycom estimates that the expanded headquarters will house nearly 700 workers.

The incentive package would follow a 2010 agreement under which the city approved $2 million worth of incentives and Paycom promised to create 492 new jobs. Since then, Paycom has created 186 jobs, the company said in a statement. The company will be eligible for the new incentives after it has fulfilled its prior job-creation commitment, Brent Bryant, manager of the city’s economic development program, told newsok.com.

“Paycom’s growth is further proof of Oklahoma City’s progression,” commented Oklahoma City Mayor Mick Cornett said. “These additional, well-paying jobs will have a major impact on our increasingly diverse economy. They are a great example of how a company can thrive in this market.”

Based on capital investment, state and local taxes as well as average first-year wages of close to $40,000, Paycom’s expansion will have an estimated economic impact of $143 million over the first five years. “Our growth is a testament to our focus on customer service and developing innovative solutions to streamline the HR process,” said Paycom CEO Chad Richison.”

Photo Courtesy of: www.paycomonline.com


St. Anthony Advances $83M Plan for MidTown Expansion, New Mustang Medical Campus

10 Feb 2013, 8:20 pm

By Gabriel Circiog, Associate Editor

St. Anthony Hospital is moving ahead on plans to expand its MidTown home and create a new facility in Mustang at a total cost of $83 million, okc.BIZ reports.

According to Joe Hodges, the regional president of SSM Healthcare, St. Anthony’s owner, the $53 million expansion plan for the MidTown campus is the largest in the hospital’s history. Designed by the REES architectural firm, the expansion will comprise 125,000 square feet and will feature four patient-care floors, a rooftop heliport and an underground parking structure.

The first phase of the project calls for the addition of surface parking in order to free up space for the new structure bordered by N.W. Eighth and Ninth streets and Dewey and Walker Aves. Groundbreaking is scheduled for next month and completion is expected by fall 2014.

In Mustang, St. Anthony intends to partner with Miller Neff Development on 90,000-square-foot medical campus. Situated at the intersection of State Highway 152 and Sara Road, the new campus will cost an estimated $30 million. St. Anthony Healthplex Mustang will feature a full-service emergency room and will be similar to the facility St. Anthony opened in south Oklahoma City last year. Architectural and engineering services for the project will be provided by Jason Givens with Miller Architects Inc.

Rendering Courtesy of St. Anthony Hospital Facebook Page: www.facebook.com/saintsok


Legend, Maco Development Break Ground on Senior Projects

3 Feb 2013, 3:25 am

By Gabriel Circiog, Associate Editor

Legend Senior Living has broken ground on a $13 million senior living center in Tulsa Hills, its third such facility in the Tulsa metropolitan area. The 86-unit facility will specialize in assisted living and memory care, Tulsa World reports.

The 478,000 square feet facility will feature an 18-apartment section dubbed The Reflections Memory Care Residence, dedicated to residents with impaired memory, according to the World. Construction is expected to be complete in early 2014.

Amenities will include a theater, private dining room, kitchen, a massage and therapy room and an activity room. The company recently completed the construction of its second assisted living center in Tulsa, the Legend at Mingo Road.

In other senior living news, Tulsa World reports that Clarkton, Mo.-based Maco Development Co. has broken ground on Northwind Estates, a $5.5 million senior living complex in north Tulsa. Upon completion, the property will feature 60 apartment units for independently living lower-income seniors, according to Jason Maddox of Maco Development Co.

Northwind will consist of 10 six-unit clusters and an 11th building that will house an office, laundry facilities and a community area. The complex will include one- and two-bedroom units varying in size from 752 to 984 square feet. Units will rent for prices ranging from $460 to $550.

Logo Courtesy of Legend Senior Living