The garage is part of a deal with BancFirst which recently purchased what was most recently named Cotter Ranch Tower, the city's second-tallest building.
BancFirst bought the tower out of bankruptcy and along with Continental Resources, negotiated with the city to also purchase the neighboring Santa Fe Garage. As part of the same deal, BancFirst and local developer Don Karchmer worked with the city to obtain property just to the east of the railroad tracks, as Karchmer owned property along Main Street and had been operating the surface lot on a lease with the city.
BancFirst told the city they would not move forward with purchasing the tower unless they could also control Santa Fe Garage and come to terms for building a new parking facility nearby.
The new parking structure is a part of that complex deal and plans have been drawn to build it on the westernmost section of the surface lot.
The configuration will allow for easements to serve future commuter rail lines as Santa Fe Station has been envisioned as the hub, although there are currently no set plans for commuter trains.
At the time of the deal with the city, it was stated the new garage would include a connection via tunnel or skywalk to the Santa Fe Garage and thus the BancFirst Tower.
The structure has been named ParcFirst@Bricktown and would contain 799 spaces, although 148 surface spaces would be lost.
