Just that they're still looking for a site. I know they've considered Penn Square Mall and maybe Patrick would have more to say about that. I also know they considered Norman and decided they'd get a better mix of customers if they located it in OKC which will pull kids from Edmond as well as Norman. They've considered downtown and Western and maybe some other locations I don't know about. I sent a detailed suggestion for how/why to use 1101 N. Broadway or the Bruno's location and hopefully they will be passed on.

What did you send them, plans and elevations? Who did you send it to?

What did you send them, plans and elevations? Who did you send it to?

No, just gave them descriptions and addresses, approximate square footage, reasons they might be good locations. I sent them to my daughter, who will hopefully pass them on to the people in charge of selecting a location if she thinks my arguments are reasonable. She knows the people in charge of selecting the location.

betts, on that former Kensington Apartment site there is no immediate plan to build.

I know this because I just came across a lawsuit by Stanton Young who owns a large house that backs up to that property. He was suing CHK Land Co. because he heard they were going to build 5-story condos. But in the suit, CHK stated they had no specific plans and the judge ruled there couldn't be a nuisance if nothing had even been approved by the city. The suit was ultimately dismissed.

I know the property is currently zoned multi-family and I'm sure the adjacent neighbors would fight hard against anything that was any taller than Kensington.

You can see the case here:

http://caselaw.findlaw.com/ok-court-of-civil-appeals/1286468.html

I just heard, from the same source who originally told me Whole Foods was going in where it is, that this site is going to be retail, but said person wasn't sure what kind. I was also told that Crescent Market is definitely moving, but not sure if downtown or not.

For it to be retail, it would have to be rezoned and I'm sure the surrounding neighbors will fight that hard. Or perhaps, CHK can build nice screening features that would appease them.


Hope Crescent finds a new location at least near downtown!

^^ I believe CHK can turn water to wine if they want to.

http://farm6.static.flickr.com/5083/5377775751_08cfc683ae_b.jpg

Wait, surely they're not tearing this building down? Not only is it historic and high-quality, but it's aesthetic nicely matches the Chesapeake style. I can't imagine them not keeping this one.

This is crazy.

No, not tearing it down -- remodeling.

A construction permit for a large renovation was approved about a month ago.

Probably moving the existing tenants out (at least mostly) and some of their own staff in.

Oh, wow. What rock was I living under? Chesapeake is so removed from the downtown scene, in terms of power politics, that I guess I never even get around to speculating about them.

So Pete, have you written a list of current Chesapeake permits somewhere?

FYI, that picture is very deceiving. If you actually drive by the site, you'd see the fencing is not all around the building. Now its mainly just around the trees. That pic is facing east. Probably to protect the building from the construction on the pad sites such as Anthropologie. It appears people are still working in that building.

So Pete, have you written a list of current Chesapeake permits somewhere?

No, I just monitor the city permit site for construction and demolition and noticed this about a month ago.

Speaking of monitoring for construction permits...

Just saw CHK filed for a $30,000,000 permit to build a 252,000 square foot office building at 6000 N. Classen. That is the block just south of the biggest parking garage on Classen.

This would be Building #15, similar in size and scope of Building #14, which is under construction on the north side of that parking garage.

Both these buildings will have about four times the square footage of the average campus building. They will also put CHK well north of 1 million square feet of newly constructed office space on their main campus; not counting all the buildings they have acquired along I-44 and NW 63rd.

http://www.okctalk.com/images/pete/campus020911b.jpg

Speaking of monitoring for construction permits...

Just saw CHK filed for a $30,000,000 permit to build a 252,000 square foot office building at 6000 N. Classen. That is the block just south of the biggest parking garage on Classen.

This would be Building #15, similar in size and scope of Building #14, which is under construction on the north side of that parking garage.

Both these buildings will have about four times the square footage of the average campus building. They will also put CHK well north of 1 million square feet of newly constructed office space on their main campus; not counting all the buildings they have acquired along I-44 and NW 63rd.

http://www.tnttri.com/OKCTalk/campus020911b.jpg

Hi, Pete. That permit is for $3 million, not $30 million. I am truly in awe of how well you are tracking what Chesapeake is doing in this part of town.

Do they own the entire block that whole foods is currently being built on?

Hi, Pete. That permit is for $3 million, not $30 million.

The city permit site clearly states $30 million. Is it incorrect?

The city permit site clearly states $30 million. Is it incorrect?

Ooops, sorry about that. I was mistaken. I just looked up the $30 million permit. I spotted this one a few weeks back for $3 million and thought you saw the same one and accidentally added a zero. $30 mill, wow.

Applicant:
James A Pickel
Smith Pickel Construction
P.O.Box 21447
OKLAHOMA CITY, OK, 73156
Home Phone: 755-7624
Fax: 755-6550

Location:
11935 S I-44 SERVICE RD
OKLAHOMA CITY OK 73173

Owner:
Chesapeake Energy Corp
P.O.Box 18496
OKC OK 73156


More Details

Additional Information

Job Value($):
$3,000,000.00
Housing Units:
1
Number of Buildings:
1
Public Owned:
No

Application Information

BUILDING
Permission To: Erect
Number of Stories: 1
Overall Height: 70
Square Footage: 42970
Existing Use: Vacant
Proposed Use Code: Office / Warehouse

Parcel Information


Parcel Number:
23604
Lot:
Block:
Legal Description:
T10N R4W S11

BTW, previously we talked about the permit for the 9,900 square foot retail building next to Whole Foods being for $500,000.

But upon further inspection that is only for the foundation. The permit for WF was $10,000,000 for a building about 3.5X the size, so I suspect the full permit for the retail building will be for $2 - $4 million.

Also Chesapeake continues to postpone the PUD rezoning for the entire area east of the campus. The fact that they have it on the agenda must mean they are getting close to a revelation of some plans for that area, but just not quite ready so they keep asking for it to be moved back? Maybe just wishful thinking- if west side is any indication, we will never see a master plan until everything has been built.

So it sounds like the building on Classen will be more of a warehouse, and a small one at that. Probably not Building 15.

No!

Building 15 will be at 6000 N. Classen exactly where I placed it on the map above. 252,000 square foot office building, 6 floors and $30M to build. Very similar in size and expense of Building 14.

BBailey was referring to an ADDITIONAL permit for a warehouse near the HE Bailey Turnpike & SW 119th. Completely different.

Warehouse, your crazy. What on earth would they need one for on their HQ for?

just an FYI chesapeake got there zoning change in the planning commision meeting yesterday for the 58th st property they own ...

also in the meeting it was discussed that they want to buy the other 3 lots on 58th and then close 58th st and add more parking with the possibility of 2 more classen curve buildings ..

Ah Pete, now I got it, sorry for the confusion.


just an FYI chesapeake got there zoning change in the planning commision meeting yesterday for the 58th st property they own ...

also in the meeting it was discussed that they want to buy the other 3 lots on 58th and then close 58th st and add more parking with the possibility of 2 more classen curve buildings ..

There goes the neighborhood..

What was the name of that area, meadow somethingorother? It was an interesting neighborhood, too. Well, it's history now.

just an FYI chesapeake got there zoning change in the planning commision meeting yesterday for the 58th st property they own ...

also in the meeting it was discussed that they want to buy the other 3 lots on 58th and then close 58th st and add more parking with the possibility of 2 more classen curve buildings ..

That's good to hear. Hopefully Classen Curve will continue to expand until it is a more logical shape and has more parking per business.

I noticed they were outlining the foundation for what I am assuming is the Anthropologie store today. I'm wondering when they'll make an announcement, as usually construction sites have a sign indicating what is going in there.

There was a whole slew of new demolition permits...

Three for the buildings on the site of what will be Building #15. One for the new parking area near Classen Curve.


And something new... Demolishing the small building on 50th just east of Western (CHK owned properties shown in yellow):

http://www.okctalk.com/images/pete/50western1.jpg

My old favorite gas station, I think.

betts, the demolition permit was for the office building east of the Conoco (Independent Insurance Agents).

But I'm sure CHK has plans to eventually raze all the properties highlighted above.

50th and Western, interesting. I would pay a huge admission fee to see CHK's master plans.

Yeah, they could almost finance their development plans to an extent off of our anxiety at this point. Because lord knows their holdings, reserves, and cash flow won't do it...lol

I've gotten what I think is a glimpse, but I can't prove it. If what I saw was the real deal, well ...

I've gotten what I think is a glimpse, but I can't prove it. If what I saw was the real deal, well ...

What, will it blow Utica Square out of the water and be the premiere upscale shopping district in the state? :-)

I don't think you can create a Utica Square. That sort of thing happens organically, with patience and time.

You're right, I just meant in terms of its potential tenants.

is there a map that shows all land that the company owns?

Charger, I've plotted their holdings on several maps found on this thread. I will try to do an updated one soon.


There is now a webcam for the Building #15 site. They have already pulled down two of the three small buildings:

http://oxblue.com/pro/open/smithandpickel/chesapeake15

Just out of curiosity, I don't drive down 63rd towards Broadway Extension often cause the traffic is just horrible come rush hour but you know where that huge mound of dirt is? West side of the railroad tracks extending north towards 63rd? I noticed on Tuesday that they've really leveled the area out. Just wondering what they plan on putting here?

CHK has a big Planned Unit Development before the planning commission for that area bounded by Classen, 63rd, the railroad tracks and 57th.

I'm sure they will continue to expand their campus in that direction but the remainder will likely be housing. I'm betting on condos, apartments and patio homes.

Exclusive to current and future employees? Or just another public venture like Whole Foods?

Also, even though it'd be right next to the railroad tracks, they wouldn't have to deal with whistles, since the closest crossing is at Wilshire.

McClendon has said the primary intention is to create a live/work/play environment for their employees.

I imagine people working for CHK will have first shot (and probably incentives) at whatever they put up.

Hey! We were surprised to see our new construction on Classen Curve on this website! Our Meadowbrook Acres construction (http://www.sellingoklahoma.com/MyHomeDtl.asp?lstPages=2&HomeID=1053952) is going to add some more contemporary pizazz to the rapidly expanding area. If anyone is interested in learning more about it, here's the direct line :)

Hey! We were surprised to see our new construction on Classen Curve on this website! Our Meadowbrook Acres construction (http://www.sellingoklahoma.com/MyHomeDtl.asp?lstPages=2&HomeID=1053952) is going to add some more contemporary pizazz to the rapidly expanding area. If anyone is interested in learning more about it, here's the direct line :)

Cool!
http://www.sellingoklahoma.com/asp/homes/3188%5C1053952_13012488.jpg

Pretty sure Pete posted those months ago.

Well.. here is the conceptual plan for the area east of Shartel, from next week's planning agenda. I thought this would be the residential portion of the campus finally, and while "residential above the ground floor" is an allowed use under the PUD zoning they're requesting, it doesn't really look like that would fit well with some of this. But, maybe the fitness center will have some residential on top? Building height maximums range from 60-90 feet. East of Lee, the building material regulations are reduced so that they can build more industrial plain metal buildings there.

http://www.okc.gov/AgendaPub/view.aspx?cabinet=published_meetings&fileid=1153034

Boy is this disappointing... All those millions for property with great views of the city for a data center, maintenance facilities and storage?? Hopefully the park / sports areas will be nice and open to the public.

That really only leaves their properties north of 63rd along Classen for housing.

http://www.okctalk.com/images/pete/chkeast.jpg

Hey! We were surprised to see our new construction on Classen Curve on this website! Our Meadowbrook Acres construction (http://www.sellingoklahoma.com/MyHomeDtl.asp?lstPages=2&HomeID=1053952) is going to add some more contemporary pizazz to the rapidly expanding area. If anyone is interested in learning more about it, here's the direct line :)

Kasperskys went crazy when I clicked on this link... Computer not happy.. thanks.

Is there a reason why they are going to have two separate fitness centers on opposite sides of their campus, and three separate areas with sports fields? That's a head-scratcher.

Virtually everything in this Shartel-to-BNSF plan is something Chesapeake could do without, if they were a more pragmatic company.

They will remove the one playfield just north of the Whole Foods location (probable hotel / retail location) and the only other one will be above the underground parking just east of Western.

As for two fitness centers, it may be the one they built -- and have already expanded once -- isn't big enough. Hopefully the new one will be open to the public.

It looks like the footings have been poured for the ?Anthropologie? store next to Whole Foods and still no announcement. That seems odd.

Is there a reason why they are going to have two separate fitness centers on opposite sides of their campus, and three separate areas with sports fields? That's a head-scratcher.

Maybe they don't like the people in the data center and want them to workout and play away from everyone else.

Maybe they don't like the people in the data center and want them to workout and play away from everyone else.

To be honest, I don't like people who work in data centers either, so this is actually a perfectly reasonable explanation. Thanks snowman...

Work on the new site seems to be going much faster then at the wholefoods site. Maybe it is not as complicated of a building?

Work on the new site seems to be going much faster then at the wholefoods site. Maybe it is not as complicated of a building?

It's a very simple construction building, and no reason they couldn't already be finished if they wanted to. As pointed out in numerous posts, the construction crew has been very fickle and sporadic on this site. Probably no rush on Chesapeake's or WF part.

Case in point, there was nobody on the WF site today -- a Thursday.

I know it rained but it's pretty clear they are in no big rush.

I still think it's bizarre that CHK is building these kind of structures east of Lee. Those are the closest parcels CHK owns to the future commuter rail line that will go through their campus. The only way it makes logical sense is if they are planning to build semi-permanent, fairly cheap buildings that they plan to relocate once a commuter rail stop south of 63rd becomes an eminent reality.

It is bizarre and I don't understand it. Seems like a lot of trouble and expense for a bunch of stuff that could be done without or easily located elsewhere. It even makes business sense to keep storage and data centers separate from the main operations for disaster recovery purposes. And of course, just about anywhere else would be infinitely cheaper given what they've paid for these properties.

I thought for sure this area would be for housing. It's got great views and would make it easy for their employees to walk to work and the retail on the west side of Western.

The only place to put housing now is along Classen north of 63rd, but a lot of that is a hike from their campus and certainly from Classen Curve, WF and everything else in that area.

... It even makes business sense to keep storage and data centers separate from the main operations for disaster recovery purposes. And of course, just about anywhere else would be infinitely cheaper given what they've paid for these properties.


Thats what I was thinking

It is bizarre and I don't understand it. Seems like a lot of trouble and expense for a bunch of stuff that could be done without or easily located elsewhere. It even makes business sense to keep storage and data centers separate from the main operations for disaster recovery purposes. And of course, just about anywhere else would be infinitely cheaper given what they've paid for these properties.

I thought for sure this area would be for housing. It's got great views and would make it easy for their employees to walk to work and the retail on the west side of Western.

The only place to put housing now is along Classen north of 63rd, but a lot of that is a hike from their campus and certainly from Classen Curve, WF and everything else in that area.

They had planned to put housing there along Classen at 59th. Something has changed. It was in a PUD they submitted to the city a few years ago.

This could be the looming presence of Carl Icahn coming into play.

CHK has been working hard to reduce their debt of late, selling off billions in assets and taking on more partners. A big part of this is trying to appease unhappy shareholders, as they are growing tired of low stock prices.

I suspect they had much grander plans for all that property and have decided to scale back significantly. You don't spend years assembling properties, buying out businesses and spending millions per acre for community gardens and storage facilities.

Exactly! The Icahn effect!

Aubrey is scheduled to do a News 9 Tv sit down interview this week, and main topic of discussion is Mr. Icahn.

Good thing their stock has been going up lately

Good thing their stock has been going up lately

...CHK spiked after Icahn filed his 13F disclosing his new ownership stake -- the sale of assets to BHP strengthened the momentum of the stock. It'll be interesting to see the role Uncle Carl plays with CHK -- some of his past energy endeavors haven't gone his way, ie. the recent failed forced sale of Dynegy (DYN) and his investment in Delta Petroleum (DPTR) hasn't fared well at all.

PS. I'm eagerly awaiting the release of SandRidge's new Mississippian Trust (will trade under ticker: SDT)