Chesapeake & NH Plaza

[OKCTalker]

There was a meeting at Chesapeake last night (April 24) with all of the NH Plaza merchants, and plans were to have been announced. Has anyone heard anything about the meeting?

[Kerry]

The tennants of NH Plaza hired Slade Gorton to represent them. That is all I have heard so far.

[metro]

Seattle is suing....

[BDP]

McClendon violated his good faith commitment and the sale of the plaza has been voided.

[andy157]

McClendon violated his good faith commitment and the sale of the plaza has been voided.

Man thats twice now he's done that. Is the guy ever going to learn?

[Kerry]

The kicker was when he was quoted in a local newspaper saying he didn't buy the NH Plaza to keep it in NH. He hoped to move it to OKC.

[OKCTalker]

Where are the mods when you need them!

[metro]

The kicker was when he was quoted in a local newspaper saying he didn't buy the NH Plaza to keep it in NH. He hoped to move it to OKC.

Now that's hilarious!!

[OKCTalker]

I wonder if Howard Schultz attended the meeting as Starbucks' representative?

[securityinfo]

There was a meeting at Chesapeake last night (April 24) with all of the NH Plaza merchants, and plans were to have been announced. Has anyone heard anything about the meeting?

Don't know about that, but at yesterday's Planning Commission meeting CHK's request to close 60th street to build a day care center was continued for 4 weeks.. but none of the Planning Commission members were going to allow it anyway.. seems the Commission is fed up with CHK not producing any kind of a Master Development Plan, (after several years of requesting) and are unlikely to approve any more of CHK's requests until such a plan is provided. The CHK representative (not the attorney, Box) stated to the commisison that since CHK was growing so fast it was simply impossible to give any kind of a plan to them, and that essentially the Commission just needed to green light all of CHK's future requests, as a plan was impossible to create.

I'm pretty sure the Commission members were a bit unhappy with that position...

[metro]

Glad to see someone finally making Aubrey accountable. I love most projects he's done for our city, but come on, we need a "Master Plan" now, at least something for the retail aspect. I understand if he can't give one for his campus as they do grow so fast, but for the retail/residential, etc. we do need to keep them more accountable. It's time to see some dirt moving and renderings!

Maybe if we get his emails we can see his true intentions. "I didn't buy all this land to keep in OKC, I secretly bought it to move to Arcadia to build another POPS and another farm". I will leave a giant hole in Nichols Hills that will reach the magma core of the earth"

[sgt. pepper]

and that essentially the Commission just needed to green light all of CHK's future requests,

What nerve...Chesapeake has done many good things for OKC, but give me a break. Matbe they think we should rename our city "Chesapeake, Ok".

[Kerry]

I'm telling you guys - they are planning to turn the campus into a university and move the business to Core to Shore. They can't release their plans yet because it would drive up land cost in Core to Shore.

I don't know if this is true or not but it is the rumor I am starting.

[BDP]

as a plan was impossible to create.

Soooo, let's see. Chesapeake is growing, but they have no plan for it. That's pretty reckless. I'm dumping my stock. I'll offer it here at 10 times market value. Think they'll buy it back at that, or do I have to invest it in a gas station that may or may not be in their plans?

[Pete]

I'm sure they don't want to release plans yet because 1) they are still acquiring real estate and don't want owners to see that particular properties are critical to their development; and 2) I'm sure they want more time to get buy in from the businesses and municipalities before word gets out without an opportunity to explain/elaborate.

I'm sure they are trying to get all their ducks in a row behind the scenes and will wait until they think the time is right before making a big announcement. In the meantime, they continue with their campus expansion that's all they're doing now anyway.

It's frustrating but I can also appreciate their position as a developer / landlord. I also remain concerned that by the time they get all the stars aligned the economy or other conditions might intervene.

[mmonroe]

I don't know if this is true or not but it is the rumor I am starting.

I like it.

1. What the hell are we talking about?
2. Why do you abbreviate Chesapeake as CHK?
3. What is NH?
4. Is this serious, or is this a joke, couldn't tell by the first few posts.

[OKCTalker]

1. OP (me) wanted to know what happened at a meeting last night.
2. CHK is the ticker symbol for Chesapeake Energy Corporation.
3. NH is an abbreviation for Nichols Hills.
4. Are you serious, or are you making a joke?

[BDP]

I'm sure they are trying to get all their ducks in a row behind the scenes and will wait until they think the time is right before making a big announcement.

Then again, this is Aubrey McClendon we're talking about. The announcement usually comes before the there are even any ducks.

Just playing. I completely agree with you and is why I think their attorney's assertion that they have no plan because their rate of growth prevents a plan is pretty ludicrous.

[OKCMallen]

They're supposed to release their plans so owners can jack up prices? The NH people can do whatever they want, within the rules, and so can CHK. Why are people demonizing CHK?

[securityinfo]

Then again, this is Aubrey McClendon we're talking about. The announcement usually comes before the there are even any ducks.

Just playing. I completely agree with you and is why I think their attorney's assertion that they have no plan because their rate of growth prevents a plan is pretty ludicrous.

Just to clarify, it was not their attorney, Box I think his name was, that was talking about how fast the campus was growing, it was another representative, someone who is a CHK employee. The session may be online at the CityVue site.

One of the Commission members even stated that all projects, regardless of size and growth, should have a Master Plan, and that changes could be made to that plan as requirements changed.

[Pete]

The NH people can do whatever they want, within the rules, and so can CHK

Actually, they are repeatedly going to the NH and OKC planning commissions in order to get variations and building permits.

There is an application process... Believe me, CHK wouldn't be asking permission if they didn't need it.

And when you ask for something the obvious question is: Why? And when you do it over and over again, it begs the further question: Exactly where are you going with all this?


People making these decisions are generally not willing to take "don't worry about it" as an answer, and neither are concerned citizens. What they are doing and are likely to do has far-reaching impact. it's not just about closing a street or building one structure. They own hundreds of pieces of property all over OKC and have already completely reshaped the area around 63rd & Western.

[andy157]

Maybe they're not releasing their Master Plan because, well, they don't have one. Could be what they do have though, is a Major Problem, which is, too much money. So maybe their Master Plan is to eliminate their Major Problem of having too much money. Who knows.

[solitude]

I think it is all about CHK building their own live/work/play district. Most of these are built with the idea of luring business to locate near their district. I think the CHK way is to populate it with people who work at CHK, can live in lofts, apts, townhomes in a semi-affordable way near the campus - and shop and play as well. An urban-like oasis in the near suburbs -- of, by and for CHK - all guests welcome.

As Pete said, these are legitimate questions being asked. I'm wondering why the stockholders haven't spoken up and asked these questions.

[onthestrip]

I'm sure they don't want to release plans yet because 1) they are still acquiring real estate and don't want owners to see that particular properties are critical to their development...

Owners, by simply just being in the vicinity, already have an idea if their property is possibly part of some plan. Releasing a plan isnt going to increase asking prices that much, they are already paying ridiculous amounts for properties as it is. There is certainly no secret about that.

[Pete]

Knowing that something is afoot and that CHK has been paying high prices is very different than seeing a master plan with your gas station right in the middle of a critical part a development that is about to kick off.