Tulsa Development Summary

[BG918]

WPX still going to happen if merger goes through? That building is substantial and beautiful - would be a shame to see it go away because of the merger.

They are already four floors up with the 5th being formed on the south side. Doubtful they would change anything drastically but you never know.

From a couple weeks ago:

[Teo9969]

Who are the best prospects to fill the building now?

[BG918]

Who are the best prospects to fill the building now?

This was from a recent Tulsa World article:

"There are a number of possibilities, all of which would be mere speculation at this point, including a sale of the building or leasing office space to other tenants," the letter read. "We’ve already received numerous unsolicited expressions of interest for leasing since the project began."

For Tulsa’s sake hopefully companies not involved in oil & gas.

[Plutonic Panda]

This really isn’t a big deal for tulsa, IMO. I’m not involved with the OG industry but from what I read it seems this is actually good for Tulsa as it ensures Devon will remain in Oklahoma and a stronger state means a stronger Tulsa. I bet Tulsa will fill this space up very quickly.

[BG918]

This really isn’t a big deal for tulsa, IMO. I’m not involved with the OG industry but from what I read it seems this is actually good for Tulsa as it ensures Devon will remain in Oklahoma and a stronger state means a stronger Tulsa. I bet Tulsa will fill this space up very quickly.

If the building was opening soon I’d be more worried. But it won’t be completed until early 2022 so hopefully by then the office market will be somewhat normal and this helps attract companies to Tulsa.

[Teo9969]

Wow I didn't realize it was already well under construction. I'd assume that building is done within 18 months given where it's already at. Surely they won't have any problem renting out if it's already built. Selling it will be another proposition, especially with relatively few R.E. companies likely to be in good shape in the short to medium term.

[gopokes88]

It’ll sell quick. Devon will sell it (probably at a loss) just to get it off the books.

[Jersey Boss]

Wow I didn't realize it was already well under construction. I'd assume that building is done within 18 months given where it's already at. Surely they won't have any problem renting out if it's already built. Selling it will be another proposition, especially with relatively few R.E. companies likely to be in good shape in the short to medium term.

History repeating itself. Part deux.

Michael Overall: As history repeats itself, downtown Tulsa wonders what will happen to an unfinished building | Local News | tulsaworld.com
https://tulsaworld.com/news/local/mi...943059e60.html

[shavethewhales]

Never the less, the WPX tower continues moving upwards at the moment. They are currently on the fourth floor setting up for another column jump as of this weekend.

I am sporadic in my photo taking, but here are a few more from recent weeks:
ni0kfrs.jpg
The OKPOP museum from a few weeks ago. They now have a bunch of the steel structure added on as well. It's quite impressive.

rMie6IP.jpg
111 Greenwood. This is also from a few weeks ago. It's pretty close to being finished now. Apartments on top, retail space on the ground floor.

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The Davenport is finishing up brickwork on the exterior. Photo also from a few weeks ago. Pretty sure this is most of the scaffolding in the Tulsa area being used at once.

XNfH8SH.jpg
21 North Greenwood going vertical. Photo from this weekend.

7cmyWiG.jpg
The View apartments. Photo from this weekend. Right across from the downtown ball park. This is a huge complex with a parking garage on the backend.

[BG918]

Recent photo of the four tower cranes up downtown. Crazy that with all the new development there are empty lots just to the north in Brady Heights, seems like a great place for more residential density literally right next to one of the most vibrant urban districts in the city. I guess it's somewhat similar to how the area next to Scissortail Park in OKC was neglected for so many years and is now seeing a rebirth, this area will be one to watch over the next decade.

[BG918]

Fall colors and current progress at WPX

[BoulderSooner]

great picture

[shavethewhales]

uXJvohC.jpg
OKPOP MUSEUM

HXGn1VH.jpg
Davenport

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WPX/Devon Building

[Jake]

Was down in the Tulsa area this past weekend so I drove around downtown to see the progress of everything and it was a sight to behold. Bike lanes through almost the entirety of 11th street, the progress of the buildings in the Tulsa Arts District, it was all just really cool to see. Nice to see my home city getting great infill. The area around ONEOK Field has really densified.

[Plutonic Panda]

Tulsa’s new county admin building. I gotta say, that signage on the window looks ugly. I hope that isn’t permanent.

https://tulsaworld.com/news/local/go...home-top-story

[HOT ROD]

looks permanent to me.

Interesting read about WTX being acquired by Devon and the impact similar to CITGO being aquired which halted the now OneOK Plaza construction; which was going to become Oklahoma's new tallest at probably 700 feet-ish.

There are many parallels to this in OKC:
* Leadership square was designed to be 60 stories but was cut in half then two much smaller towers and a connecting mall were built.
* Oklahoma Tower was supposed to be taller but cut at 33 floors.
* Devon itself was supposed to be 54 floors but was cut to 50. Onmi was supposed to be taller (750 rooms - equating to 21 floors).
* Wasn't Penn Square Bank new tower (Valliance) also supposed to be taller than it's current 23 floors?
* Former American Fidelity that became 3 midrise towers instead of one 30-ish floor tower??
* Oklahoma Health Center OU Med new patient facility (11 floors [iirc] but stopped 5 short).

Seems as if Oklahoma (esp City) has a mental complex on completing towers or something. ... Nothing is built to spec (of significant height anyway).

[BG918]

WPX will be completed as originally designed at 11 stories

[Pete]

looks permanent to me.

Interesting read about WTX being acquired by Devon and the impact similar to CITGO being aquired which halted the now OneOK Plaza construction; which was going to become Oklahoma's new tallest at probably 700 feet-ish.

There are many parallels to this in OKC:
* Leadership square was designed to be 60 stories but was cut in half then two much smaller towers and a connecting mall were built.
* Oklahoma Tower was supposed to be taller but cut at 33 floors.
* Devon itself was supposed to be 54 floors but was cut to 50. Onmi was supposed to be taller (750 rooms - equating to 21 floors).
* Wasn't Penn Square Bank new tower (Valliance) also supposed to be taller than it's current 23 floors?
* Former American Fidelity that became 3 midrise towers instead of one 30-ish floor tower??
* Oklahoma Health Center OU Med new patient facility (11 floors [iirc] but stopped 5 short).

Seems as if Oklahoma (esp City) has a mental complex on completing towers or something. ... Nothing is built to spec (of significant height anyway).

Virtually everything you state here is completely wrong.

The only valid point is that Devon Tower was slightly reduced, and given the fact it is now half-empty, we should be very happy they built it much taller than they ended up needing and by far the tallest building in the state.

The idea that OKC developers consistently under-deliver is ridiculous and I'm tired of this narrative. It happens every once in a while as it does in every city on the planet.

[Rover]

Virtually everything you state here is completely wrong.

The only valid point is that Devon Tower was slightly reduced, and given the fact it is now half-empty, we should be very happy they built it much taller than they ended up needing and by far the tallest building in the state.

The idea that OKC developers consistently under-deliver is ridiculous and I'm tired of this narrative. It happens every once in a while as it does in every city on the planet.

And, even Devon’s change was due to the decision to move backup data storage off site wasn’t it? Was a prudent move, not a reneging of their commitment or plans. It was a corporate decision, not a developer one. This wasn’t a spec building done by a developer.

[Laramie]

WPX Energy merger with Devon Energy will shift 400 jobs to Oklahoma City.

Fox 23 Tulsa: https://www.fox23.com/news/local/tul...ISL3IH4DJ5RO4/

[shavethewhales]

The WPX building continues to rise. It is now topped out on the south end, and still rising on the north and middle side. Doesn't look like they'll be decreasing it from what was planned. Sure hope it gets filled up soon...



The OKPOP museum is getting closer!

[Plutonic Panda]

The Cancer Treatment Center of America is closing the location in Tulsa. Not good for the city or state healthcare. Anyone know why they’re doing this?

https://kfor.com/news/local/cancer-t...fter-30-years/

[BG918]

The Cancer Treatment Center of America is closing the location in Tulsa. Not good for the city or state healthcare. Anyone know why they’re doing this?

https://kfor.com/news/local/cancer-t...fter-30-years/

CTCA also closed their Philadelphia hospital but that is being taken over by Temple University. There is speculation OU or another local hospital could do the same with the Tulsa facility.

[shavethewhales]

I'm guessing CTCA is a dumpster fire administratively. This really sucks to lose our main stand alone cancer hospital. I do hope OU can take it over, that would be a big win for Tulsa.

One step forward, one step back.

[Laramie]

Maybe one of our state universities will step up to the plate and follow what's happening in Pennsylvania:

Temple University Hospital and Cancer Treatment Centers of America Sign Asset Purchase Agreement: https://www.templehealth.org/about/n...asset-purchase