It's easier said then done. Housing laws prevent drastic increases in rent. I think the most they go up is $25-$50 at each lease renewal. To get the $50 they have to make upgrade to your unit and/or the property itself. The only way I have ever seen complexes cleaned up is for the property manager or company to shut down the complex as a whole, remodel and reopen.
That is a common misconception about OKC. Walmart may have physical presence but, they do not rule the grocery market for most families anymore. Walmart is expensive to shop on most items anymore. We are finding better deals at Buy For Less and Crest here in Midwest City. The only thing we shop for at Walmart anymore is items for our toddler. We might spend barely $20 on that stuff each month.
You, Sir, have an excellent memory. =)
One thing about all this: Traffic will be so snarled that EVERYTHING will have to be within walking distance of my house on account of all of the gridlocked automobiles that have been abandoned after a day or two of being stuck in traffic.
I agree with this for the most part. It all goes back to the fact upscale retailers look for not just wealth but density. In OKC, the wealth is here but very spread out compared to Tulsa where it is concentrated in one part of town. That is historically why Tulsa has got all the good retail while OKC has been passed up. I never would have guessed that OKC would end up getting Costco prior to Tulsa. If it does end up happening, its going to be an excellent sign for our city. H&M is also a huge catch for this city.
In terms of grocery stores, the real problem is there are no national chains, all of the major ones having been run out by Wal-Mart. If Tulsa wasn't lucky enough to have an outstanding chain like Reasor's in their market, they would have almost the same situation that OKC has.
I do trust Steve as a journalist but I don't see what he was doing as any different than several of the people on this forum do.
Not defending Steve in any way, but there are plenty of other people who are curious if the whole plan will come to fruition.
This was the tweet that got things started:
Amazed to see a TV report tonight on a "rumored" development in NW OKC based on a website & talk on an online forum. Rumors only...
Now, I understand where Pete might get upset with the "rumors only ..." part. I could be interpreted as saying his info was "rumors only." That was not my intent. Pete is very well connected in real estate and I've always respected his work. Again, wording could have been better, and I mixed in "chat site" when I shouldn't have. But this TV report - it was literally based on rumors and the website - no actual reporting. Be upset with the TV guy who ripped Pete off....
Yea I don't understand how the TV stations pulled information from OKCTalk and even displayed the images that were created here... I didn't hear credit given unless I just missed it?
So did we get many new registered users from the influx of visitors yesterday?
I'll address the reporting, twitter comments and site activity in another thread.
Let's please keep this about the retailers and developments in the original post.
Thanks.
My apologies for mixing in the forum with my comments at the TV station. I looked back at my tweets and I could have worded them better. My real intent was to show how flimsy the TV report was, and to address questions as to whether this is happening. According to my sources, much of this is not done yet, most notably the Costco. I'm not trying to take issue with the info posted by Pete; it was the TV report that was truly based on nothing.
Thanks Pete for all that you do. Any idea when they could break ground on the basic developments on this division? I work in the banking industry and I know smaller housing developments can take up to a year to clear the land, surveys, drainage, streets, sidewalks and everything that goes with that.
As I stated earlier, I've heard Chisholm Creek is working with a large architecture and engineering firm in Dallas to get this whole thing on the fast track.
I'm sure they will start with the healthplex and a couple of the larger anchors but will need to think through the entire site (entrances, roads, drainage, etc.) at the outset.
Pete, any idea on when Main Event will start turning dirt?
Also, what's your percentage chance of the Cabelas thing really happening? I told my dad and he was shocked. He thought Cabelas is just going to shut down Bass Pro but I told him that BP is more of a tourist thing and I think they will both keep bringing money into the city.
And the chances of them re-modeling when there's about 10 different fairly new apartment complexes along May and Penn is slim. Granted, if this development gets off the ground one of the apartment sets probably will get snatched up and rebuilt just so you can walk straight to this entertainment district. I'm staring at you, little apartments across from Freddie's on Penn.
Quote from Steve from the live chat:
Yes, premature speculation, right or wrong, can hurt deals. I've seen it happen. So that makes my job all the more challenging. Likewise, some developers will use media to hype projects that are far more show than substance. At this point, quite honestly, Pete Brzycki, operator of OKC Talk, is one of the leading sources of solid real estate news that I take very seriously. There was a TV report last night I considered to be pretty flimsy, and I made some tweets last night that unfortunately (and partially due to my own clumsy wording) indicated I was critical of the information being put out by Pete. So for that, I sincerely apologize. This question you ask, I realize, is based on that discussion.
From the TopGolf Facebook page:
Hi friends, we have had some inquiries this week about the status of TopGolf in Oklahoma. We just wanted you to know that the TopGolf team has visited Oklahoma City to meet with some developers and city officials. We are still actively evaluating sites for a potential location, and we will keep you posted on any progress. We remain excited to explore our options in Oklahoma!
So, no Rainforest Cafe or T-Rex Restaurant on the horizon?
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