This does seem like relevant news for this board..... I hope..... :?

http://www.newsok.com/article/3215672/

Devon plans downtown skyscraper
By Steve Lackmeyer
Business Writer
Copyright by The Oklahoman, 2008

http://blog.newsok.com/okccentral/files/2008/08/devon-rendering.jpg

Devon Energy Corp. is pursuing plans to build a new "iconic" downtown corporate headquarters — one that would be the tallest building in Oklahoma City


In an exclusive interview with The Oklahoman, Devon Chief Executive Officer Larry Nichols also confirmed he resigned from the board of the Oklahoma City Urban Renewal Authority because the city agency owns the proposed tower site.

In response to interest expressed by Devon Energy, Urban Renewal is set to issue a request for development proposals at next week's meeting for the old Galleria parking deck just north of the Myriad Gardens.

"In talking with experts and engineers, we're looking at something in excess of $350 million," Nichols said. "We're talking about something that matches MAPS I."

With 1,350 employees based downtown, Nichols said the company needs to move forward with construction of a new headquarters that he hopes can be completed within four years. He expects 2,000 people will move into the new tower when it is completed.

"Devon has recognized for some time that we need to consolidate into one building," he said. "We now have employees in five different buildings. There are obviously inefficiencies in that."

Nichols said Devon has yet to hire an architectural firm, though there have been "extensive conversations" with a potential candidate.

He estimates the building will span more than 1 million square feet. But when asked the potential height of the building, he could only cite the size of the floor plans. By dividing 1 million square feet by the proposed floor size, the height will be at least 37 stories.

Currently, the tallest building in Oklahoma City is downtown's 36-story Chase Tower.

"To have 1 million square feet, it will probably be the tallest building downtown," Nichols said. "That's not the goal — I don't care about having the tallest building or not. I do care that it be an iconic building, that it be distinctive building. It will change the skyline downtown, and we want to build a building that everyone will be proud to have in Oklahoma City."

While he has toured buildings in major metropolitan areas including New York and Washington, Nichols could not single out a particular skyscraper as a personal favorite.

"I wish there were a building I could say, 'Go build that,'" Nichols said.

But Nichols does have some basic ideas as to what he does and does not want in a new corporate headquarters. He doesn't want the sort of windswept plazas that often are desolate around some of the downtown Oklahoma City towers built in the 1970s.

But he does want a large public space — a large enclosed atrium with cafes, a large conference center, and an enclosed garden.

"We want a fairly large distinctive atrium that would be unlike anything that exists in Oklahoma at the moment," Nichols said.

He also wants to explore opening a never-completed tunnel that connects the Galleria parking deck to the gardens, and he hopes to somehow connect to The Underground pedestrian tunnels.

But before any of this can become reality, Devon must first respond to Urban Renewal's request for development proposals. Nichols isn't legally required to resign from his board seat, which he had held since he was first appointed by former Mayor Ron Norick. Nichols said he insisted on resigning to avoid any appearance of impropriety.

If selected as the developer for the site, Devon must still negotiate parking arrangements with the city for the City Center Garage. Nichols said the discussion would likely include adding floors to the west City Center garage, which opened two years ago. The tower would also have underground parking.

Urban Renewal Executive Director JoeVan Bullard called the proposed tower the largest single development in the agency's history.

"What a great, great day this is," Bullard said. "But there are always two sides to this story, and Larry not being an Urban Renewal commissioner any longer is really saddening. He has served admirably for 20 years. He's absolutely the best example of a corporate citizen willing to take on the responsibility to serve on this voluntary board, and he has been wonderful."

Sounds very impressive!!! Nice to know there are companies that can deliver such a great tower. With 1 million square feet and 2000 employees, this skyscraper could easily exceed 45 floors, IMHO.

A bit unrelated, but since OKC has been one of the pleasant surprises when it comes to skylines, I want to post this aerial of DT OKC, circa 1955 (courtesy of Three Lions/Getty Images):

http://cache.viewimages.com/xc/3352708.jpg?v=1&c=ViewImages&k=2&d=0629904139C22E58407A5869050AD8D0A55A1E4F32AD3138

If you can already guess, or better, know the location of this tower, where will it go relative to the following image?

http://pics4.city-data.com/cpicc/cfiles26315.jpg

lol, you did fine. I like the "hope I can do this" part :lol:.. All the OK people on here have been hoping Devon would go through with this. Something that has been speculation for some time is now reality.

You could've posted this under "development news" also. I don't know how to draw on the pics and them post them back, or else I would draw a big red circle. But the new site is supposed to be two blocks west of the current Devon building (the one to the far right behind the little white one) So from that current pic, I would think it'll be in between that black tower (chase tower, tallest in OKC right now) and that really cool looking art deco building) First national center I think it's called, at least that's where it'll appear from that perspective in the picture. We'll have an OKC resident fill us in.

Eh. There are some people that have expressed that they never want to see another OKC thread in their life, and then some (the members that have been here for a while) actually seem to like them. Thanks for starting the thread, czechm8.

http://photos-655.ll.facebook.com/photos-ll-sf2p/v189/75/106/692462655/n692462655_599801_3861.jpg
It will go on this street, before you get to the CBD (right where you start to see the skyscrapers going up).

If this illustration helps:

http://i8.photobucket.com/albums/a49/DougLoudenback/devon_tower/devonview3as.jpg

http://pics4.city-data.com/cpicc/cfiles26315.jpg[/QUOTE]

Okay see the tall blue skyscraper to the left side of the picture. If you look down towards its base there is a parking lot full of cars. The plans show it being built on that parking lot, but more to the left side of the picture. Sorry if it doesn't help...

http://www.aerial-photography-oklahoma.com/picts/Downtown%20OKC2.jpg

Yep, it will be built on the site of the Galleria parking deck... That skyline shot is perfect for showing where the building will go. that parking lot is now 1/2 converted to a nice parking garage, and the other half of the parking lot will presumably become the Devon Tower.

See where the construction is in that picture ^^? That's where the new parking garage is. The tower will go along the border of that surface lot and the park to the south.

Yes, perfect pic Cajun Dude. I highlighted the area in red...apparently =P.
It won't necessarily have that large of a footprint but thats where it'll be built.

http://farm3.static.flickr.com/2209/2331514819_943b7ab27d_o.jpg

I think its a perfect spot and helps fill in that ugly huge gap. It'll exted the skyline more to the west. Now only to get rid of those Ford car lots. =/

There we go. Some people who know what they're talking about.

What OCURA should try and do is interest Bob Howard Ford and City Chevrolet in a land swap giving them a parcel with a lot of visibility on I-40 or I-35 just outside of downtown, but further from downtown still.. that way everyone wins since I do believe they like to make a big deal about still being downtown.

Or they could build an urban car dealership. Which I doubt they would do since those haven't existed since the 40s..

Can't wait to see a rendering.

Well it's a large scheme, and Devon hasn't yet officially hired the architecture firm they are in talks with right now, but they will and they will also need a rendering to submit to OCURA next month when they throw up an RFP for the Hudson and Sheridan site.

^^ Yeah, he wants to make it really special. Sounds like he wants it to stand out from the entire region. Should be very interesting. Also, some people on okmet ran some numbers, the tower should be 550 feet, give or take. So not too bad. It's the whole "iconic" thing that intrigues me. Everyone that lives or has ties with OKC are really happy about this. Oklahoma itself hasn't had a new skyscraper since the 80s. With the exception of the One technology center (which is absolutely sexy :nuts:) building in downtown Tulsa which opened in 2000.

http://i241.photobucket.com/albums/ff140/tomorrow124/Oklahoma%202007/d109.jpg

If thats a skyscraper then our Renaissance Hotel should be counted also...=P

I wonder what architecture firm they are in talks with. I am really impatient now that they have finally announced it! I can't wait to see some renderings.

Yeah I didn't know what to call that one. I actually think it has 15-20 floors. I forget. But what I meant was last major, well building.. tower.. skyscraper.. thing?? :lol:

He's hoping for something that could be done under 4 years, and plans on spending $350 million. I hope he comes up with something good.

^^ Yeah, he wants to make it really special. Sounds like he wants it to stand out from the entire region. Should be very interesting. Also, some people on okmet ran some numbers, the tower should be 550 feet, give or take. So not too bad. It's the whole "iconic" thing that intrigues me. Everyone that lives or has ties with OKC are really happy about this. Oklahoma itself hasn't had a new skyscraper since the 80s. With the exception of the One technology center (which is absolutely sexy :nuts:) building in downtown Tulsa which opened in 2000.

http://i241.photobucket.com/albums/ff140/tomorrow124/Oklahoma%202007/d109.jpg

You mean City Hall. :lol:

Oh yeah... I guess I could say that now. :nuts:

Supposedly it is a 300 ft tall building. Just puts into perspective how tall the BOk Tower is.

The BOk tower is 667 feet. Tallest in Oklahoma.

Very cool! Great news!! :yes:

Request-for-Proposals has been officially put out by OKC Urban Renewal, which manages the lot that this tower will be built on. So, technically, anyone who wants to build a corporate HQ Tower on that site in OKC is welcome to propose one within the next month or so. And now we know that by a certain date (I think by about the end of April) we will have to have concrete, official renderings and stats for the tower!

I hope he picks something tasteful. He said he'd been touring the major cities of the U.S. I trust he knows what he's doing. Heck he's running a fortune 500 company, he's got to have a little sense.

I'd like to see something with a nice lit up crown. :yes:

:)

Personally, I wouldn't mind seeing something with a spire. As long as it's not a friggin box, we're all good.

An update- Devon CEO Larry Nichols spoke this week at OU, and I went to see him... The tower was not the main focus of the speech, but it did come up in question and answer period.

Regarding the tower, the introducer of Mr. Nichols said "I had in my notes that Devon will be building a 37 story building in OKC, but Mr. Nichols tells me it will be much larger than that."

And Nichols said, "It will be twice as large as any building in OKC with 1.2 million [sf]" and commented that they have several renowned architects looking at possible designs and they are all very excited about the site and about working in DT OKC.

I think his twice as large comment is referring to floorspace and not height, but First National I believe does have 1 million sf.

Can we possibly get a thread name change please?

OKC | Devon Tower | 37+ fl | Pro

Or something like that.

Devon has selected Hines as the real estate firm for this project. This is the firm that is working on 1180 Peachtree in Atlanta and Union Pacific in Omaha.

More clues to the height of the building were also mentioned... the floorplan will probably be between 22,000 and 27,000 sf. Putting the height up to 54 stories at a maximum and 37 at a minimum.

A "renowned architect" should be announced within a few weeks.

http://newsok.com/article/3235171

Thats IF its 1 million square ft. It is to be AT LEAST 1 million sq. ft.

1,000,000 / 27,000 = 37.04 stories

1,200,000 / 22,000 = 54.55 stories

^^ Yeah.

Specifics...

1.2 million sq/ft at 25,000 per floor/ 48 floors.

Very large atrium styled lobby to match the Myriad Botanical Gardens across the street with waterfalls and lush hanging plants.

Design is to take a year and construction three.

Is that final for sure Classof? When was that announced?

I think it's hearsay. Hopefully renderings aren't far from being public.

^^ Yup, its just that.

Architect selection Pickard Chilton.

-----------

Devon picks world leading architects to design headquarters, public space | NewsOK.com

By Steve Lackmeyer
Business Writer
A Connecticut architecture firm that designed Atlanta's 1180 Peachtree Tower and Four Seasons Place, a 3.1 million-square-foot complex in Malaysia, is set to “make a new heart of Oklahoma City” with a Devon Energy skyscraper

Larry Nichols, chief executive officer of Devon, said Friday Pickard Chilton was hired from among seven internationally-accomplished architecture firms the company has interviewed the past several months.

How the team was chosen “We started with the whole list of people who build high rises,” Nichols said. “We then came up with a list of six firms, and then had three finalists. They were all world class.”

The hiring process, he said, included repeated visits to the firms' home offices and trips by the architects to Oklahoma City. Devon Energy hopes to build a corporate headquarters on Urban Renewal land along Sheridan Avenue, across from the Myriad Gardens.

“Our goal was not to get the firm with the best name, but to get the one with the most interest in the project, the most engaged, one that would come up with the most interesting ideas for the opportunities this site gives us,” Nichols said.

Nichols announced selection of Houston-based Hines as developer last month. Hines and Pickard Chilton have collaborated previously on towers including 1180 Peachtree and the upcoming Riverpoint tower project in Chicago. But Nichols said Pickard Chilton was chosen first, though the contract was completed after Hines was hired.

“The Hines organization and Pickard Chilton understand each other, have worked together in the past, and to have that is always helpful,” Nichols said.

Devon Tower represents a homecoming for William Chilton, who lived in Tulsa until he was 9 and then returned after college as a building designer for ConocoPhillips in Ponca City and as an architect with Olsen-Coffey Architects in Tulsa.

Chilton first befriended partner Jon Pickard while attending architecture school in Iowa in 1976. By the time the pair decided to form Pickard Chilton a decade ago, Pickard had completed an 18-year stint working with architect Cesar Pelli on projects including the Petronas Twin Towers in Kuala Lumpur, Malaysia.

What's Devon looking for? Nichols, who has said he is more interested in a building that is iconic rather than one that is the tallest in the state, said the tower will “probably be more than 37 stories” and added “it's not going to get smaller.”

Nichols said his favorite tower design in the Pickard Chilton portfolio is the planned 50-story Riverpoint in Chicago — a detail that caught Pickard and Chilton by surprise on Friday. Pickard said Riverpoint is a unique project where the design was somewhat dictated by its riverfront location.

“It's an unusual site with strange geometric problems and an Amtrak line that runs through the site,” Pickard said. “There was only one way — a very sculptured item, like minimalist art — to fit into the site.”

Chilton said their task is to create a design that not only meets Nichols' desire for an iconic tower, but one that will also meet his expectations for making a statement on behalf of employees, the community and Devon Energy shareholders. Pickard said Nichols has told them he wants a tower that also will be “civic minded.”

“We've had the good fortune to be involved in projects that came to symbolize cities and countries,” Chilton said. “It's a road we've been down before. This project raises all that to a new level for us.”

Pickard and Chilton echoed interest by Nichols in creating a special “winter garden” or “town hall” that will be a central focal point. Pickard said the only winter garden he thinks highly of is the 10-story glass-vaulted pavilion at New York City's World Financial Center designed by Pelli and built in 1988.

“Devon, and more specifically Larry Nichols, cares as much about the public space as he does about it being an iconic building,” Chilton said. “We've had the opportunity to tour projects with Larry looking at what makes a great public space. This will be a building that will engage the public realm.”

Pickard said Nichols' approach to the tower, as evidenced by his desire to somehow connect it to the Myriad Gardens and improve it as well, is unique.

“Devon Energy was born in Oklahoma City, grew there, prospered there, and there is a commitment to the city that is nearly unparalleled in our careers,” Pickard said. “We're not just creating a home for Devon Energy, we're creating a new heart for the city.”

Good news to hear. It's about time we hear something on it. We were just hanging there for a month or so.

I don't think this tower will have more than 50 floors. But it will be a lot taller than your typical 50-floor tower. 1, the iconic design will surely include setbacks and such that squeeze more height out of it, and 2, the lobby space Nichols wants would have to be among the grandest in architecture, 3, he's talking about a 10-story glass garden at the base, and 4, he's also talking about including a community auditorium in it, and 4, other than that, this tower's employee amenities will go well beyond that of a typical Class A office tower.

Pickard Chilton is a good architect. :) I'm sure it will be a great building.

Interesting fact: William Chilton actually turns out to be an Okie. Born and raised in Tulsa, got his start as an architect in Ponca City designing buildings for ConocoPhilips and then at an architecture firm in Tulsa.

Pickard Chilton is a good architect. :) I'm sure it will be a great building.

Yea, we're hoping he'll produce something great. It'll be fine :okay:

Renderings should be available on August 20th when they take the proposal to the city.

Not wanting to disrupt the business of the newly opened boutique hotel Colcord with its nightclub XO and restaurant Soleil, Devon has gone ahead and (in true oil-boom fashion) purchased the pricey property next to their tower's site so that the hotel won't have any losses during construction. So their plans could involve the hotel too. We know that there will be a large conference center element to the project, so the hotel could fit into that nicely.

We're getting closer!

Well might as well post the renderings in here, and it's time for another thread title change mods!

Devon Tower | 925 ft | 54 Fl | Proposed

It's 1.9 million square feet, $750 million, and the good news is that Devon could probably pay cash for it if they want. Huge atrium, 400,000 sf podium, building will sit in reflecting pool. Almost twice as tall as OKC's tallest at 500'.

http://i8.photobucket.com/albums/a49/DougLoudenback/devon_tower/presskit_06_skyline.jpg

http://i8.photobucket.com/albums/a49/DougLoudenback/devon_tower/presskit_05_insiderotunda.jpg

Wow! I didnt expect to see anything like this in OKC!

If this doesnt get downsized it'll almost be a supertall.

WHOA!!! Fancy. Reminds me of that recently completed tower in ATL that has the two "wings" that make it look larger and the UC Wachovia Tower in Charlotte. The Atrium is gorgeous and love the design of the tower.This will be one hell of an addition and should really enhance OKC's skyline.

Congrats!

Same architect as the Atlanta tower you mention.

wow!! new nba team? new all-glass skyscraper? you guys are on a roll!!!:okay:

wow!! new nba team? new all-glass skyscraper? you guys are on a roll!!!:okay:

Yea thanks! :cheers:

OKC | Devon Tower | 925 ft | 54 Fl | App

This was approved correct? So that should be the new thread title.

Yea but I think "App" means application. But if it would mean approved, which this project is, then yea..it should be changed.

App does mean approved. Send a PM to one of the mods and they'll change it. Include the link to this thread in the message.

More information continues to come out about the Devon Tower site. We now know the site will include an auditorium, retail space on the ground levels, a connecting structure to the neighboring boutique hotel the Colcord, and a fully public rotunda that will be the main entry to the entire facility.

Current Construction Timeline

Early 2009 - Parking facility construction begins
Spring/Summer 2009 - Site prep begins
November 2009 - Foundation complete
Late 2010 - Parking facility complete
Early 2013 - Full completion of site

-----

The site for the project is located on the surface parking lot adjacent and to the right of the large public greenspace at the center of this photo:

http://photos.newsok.com/2/showimage/518412/lead620/

In an 93 page report that included all of the schematics, I only found one new rendering, which shows the curtain-wall parking garage and the tower in the background:

http://img.photobucket.com/albums/v321/eyeblink/devon.jpg

-------

Panel OKs Devon plan for building
BY STEVE LACKMEYER
Published: November 21, 2008


Inspired by the success of the New York Times’ new Manhattan headquarters, architects designing a world headquarters for Devon Energy are proposing to construct an auditorium at the corner of Hudson and Sheridan avenues.

The auditorium is one of several new details revealed Thursday as Devon Energy successfully presented its plans for approval by the Downtown Design Review Committee.

Weather considered
Architect John Pickard said designers have met challenges designing retail spaces along the ground floor of the "podium” building that will be just west of the 54-story tower and rotunda.

They want to open the spaces to the park, but also must contend with Oklahoma’s changing weather.

Their answer was to create rooms with French doors that could open up into the adjoining gardens and pavilions, designed to be open during fair weather and enclosed with glass during extreme conditions.

Pickard said the rotunda is designed to not just be a dramatic space — but a space that will be filled with people.

He said garage connections are designed to force all of Devon’s work force, as well as the public to enter through the rotunda.

Similar changes are being planned for the neighboring Colcord Hotel, which Devon bought in August.

‘Very urban thing’
Committee members praised the plans, but urged Devon Energy to consider adding a retail level on the first floor of a garage extension to face Hudson Avenue.

Member James Loftis noted the Devon project meets the city’s desires for urban architecture downtown compared with a "suburban” style building approved by the committee in September.

"This is a very urban thing — it goes far beyond anything I thought we’d see in our lifetimes,” Loftis said.

He also praised Devon Energy for placing the public rotunda instead of the tower in the center of the block.

"It’s phenomenal — I can’t wait,” member Richard Tanenbaum said.

"Why don’t you start construction now?”



------------


Devon plans auditorium at world headquarters
by Kelley Chambers
The Journal Record November 21, 2008

OKLAHOMA CITY – Devon Energy Corp. is tweaking and refining its plans for a world headquarters now set for completion in 2013.

Initial plans released by the company in March called for several structures on a piece of Urban Renewal land.

In August Larry Nichols, CEO of Devon, unveiled plans for a 54-story skyscraper, an additional 400,000-square-foot office building connected to the tower by a glass rotunda, and park space on the southwest side of the site.

One new addition presented to the Downtown Design Review Committee on Thursday included an auditorium nestled in the park space at the corner of Hudson and Sheridan avenues.

Jon Pickard, principal with the architecture firm Pickard Chilton, said the auditorium will be similar to the Times Center, a 378-seat auditorium built by the New York Times in Manhattan.

The Devon auditorium will likely seat about 250.

Pickard called the auditorium the “jewel of the park,” and said the company wants it to be available for community use.

“As we developed the design and we started to better analyze the needs of Devon for meeting facilities it seemed to be that an auditorium would help support the Devon corporate mission,” he said.

“It was always there as a thought, we just hadn’t developed it.”
Pickard said the auditorium is still a concept at this point and the exact size and cost have not been determined.

The second floor of the office building, dubbed The Podium, will also be a conference center.

Plans for parking were also discussed.

John Wood, vice president with Hines, and project officer for the Devon site, said plans are in the works for Devon to acquire the west side of the City Center Garage and add five floors exclusively for the company’s use.

Wood said the company would like to start work on expanding the garage upwards, and to the west toward Hudson Avenue, in the first quarter of 2009 and it should take 21 months to complete.

Plans for the tower call for demo work on the site beginning next year and the foundation for the tower could be in the ground by November.

The current timeline for the project calls for completion in early to mid-2013.

Wow. I really like the plans. And as everyone else may be feeling, the timeline.. Hopefully it won't be prolonged any further. Let's hope OKC doesn't experience any super duper extreme weather situations (ha ha..) that are so bad they have to keep delaying it. I want this tower up! And thanks for the info. Shane.

Net earnings of $2.6 billion for the third quarter of 2008. They could pay for this building two and a half times with the money they made in three months this year. Devon is huge.

--------------

OKC's Devon Energy announces dividend
OKCBusiness Staff
12/1/2008

Devon Energy Corporation today announced that its board of directors declared a quarterly cash dividend on Devon's common stock for the fourth quarter of 2008.
The dividend is payable on Dec. 31 at a rate of $0.16 per share based on a record date of Dec. 15.

Nov. 5, Oklahoma City’s Devon Energy Corporation reported 2008 third-quarter results. For the quarter that ended Sept. 30, the energy company’s net earnings totaled $2.6 billion or $5.92 per common share ($5.87 per diluted share), a 256-percent increase versus the 2007 third quarter.

Compared to the 2006 third-quarter, Devon’s 2007 third-quarter net earnings increased $30 million from $705 million to $735 million and their common share jumped from $1.59 to $1.65 ($1.57 to $1.63 per common diluted share). The increase from $735 million to $2.6 billion ($1.65 to $5.92 per common share) is the company’s highest ever quarterly earnings, officials said.

With earnings like that, why not start the damn thing tomorrow ?

Well the land the project is proposed on happens to be OKC Urban Renewal-owned land, so anytime you're dealing with government land, it takes time. Also the first phase of the project involves buying up the existing 5-story Galleria Parking Garage and expanding it up to 10 stories and then building a second identical one. The parking garage is owned by the Central Oklahoma Parking & Transit Authority, also a government entity. What pushes the first phase back even more is that the COPTA land and OCURA land are separate bids and the COPTA negotiations begun later than the OCURA negotiations. Right now they have plenty of time to do the bidding for the project and get a contractor lined up for the first phase (probably either Flintco or Boldt since they're in OKC) because while they got the land from OCURA and the entire project approved, they're still negotiating with COPTA.

I suppose the preparations to build a 925 foot tower are so extensive that it will take a few months to break ground after you get all your ducks in a row.

With earnings like that, why not start the damn thing tomorrow ?

I wish!

Nichols does have a record of being conservative so as not to disappoint (he told us this was going to be perhaps a million sf building of 37 stories, and ultimately revealed twice the space and almost 20 more stories)... So maybe when he says they'll break ground in late summer, we can hope to see groundbreaking by early summer... That would be nice...

The parking garage construction could start as early as next month. So they're starting pretty quick!

Additionally there are some designs to be finalized, like the auditorium building in the plaza. That will probably be the next exciting rendering.

Yeah, red tape and all that. Facts of life.

Yeah, red tape and all that. Facts of life.

You know how these guys just like to keep us commoners waiting.

You know how these guys just like to keep us commoners waiting.

They do it on purpose.

http://i278.photobucket.com/albums/kk92/gandjdunlap/DEVONTOWER-SW.jpg

metromax, this is not the place to go on some racial tirade. either contribute something relevant to skyscrapers and urban development or take a hike.

Thanks mod

Alright thanks Jman.

So with the current status of the economy and oil at such low prices, what are we to expect now? Will we see a downsize anyone think?

Why are you even asking that?

Alright thanks Jman.

So with the current status of the economy and oil at such low prices, what are we to expect now? Will we see a downsize anyone think?


NO.

Devon just ranked as one of Fortune's top 10 stocks for 2009.

http://money.cnn.com/2008/12/11/magazines/fortune/best_stocks.fortune/index2.htm

Devon Energy (DVN, Fortune 500) is one answer. The Oklahoma City-based exploration and production company does business almost exclusively in the U.S. and Canada, so it doesn't have to worry about Russia or some other nation deciding it wants a greater cut of oil profits. Devon's revenues are split between oil and natural gas, giving it an added cushion against oil price drops. To be sure, natural-gas prices are down as well. But many experts believe an Obama administration will shift the nation's energy consumption toward cleaner natural gas and away from oil and coal, which should boost demand over time. "Obama's policies are likely to strain natural-gas supplies," says Larry Nichols, chief executive of Devon. "So all else being equal, I expect higher prices next year, which is good for us."

With very little debt - just 13% of capital - the company already has a frugal operating structure. And Nichols says he plans to cut his budget "meaningfully" this year. On top of that, the company estimates that its reserves are up 10% this year, giving it more oil and gas to sell in '09. "We will sell 100% of our product next year," says Nichols. "That makes us different from hotel chains or fancy restaurants. People don't stop using oil and gas."

Earnings are expected to drop 36% in 2009. But that's much better than the 53% drop expected at Anadarko Petroleum, Devon's closest competitor. And at a recent $66, the company has a P/E ratio of ten, based on next year's earnings. That's lower than the 12 P/E of Exxon Mobil, which analysts also say is well positioned to weather the energy downturn. "We believe Devon has the most attractive asset portfolio in the oil sector," says Oppenheimer analyst Fadel Gheit, who recommends Devon's shares. "Everybody's earnings are going to fall. These guys' are going to fall less."

it will be on hold until the economuy gets better. it will finish about the same times as museum plaza

Oh no...

it will be on hold until the economuy gets better. it will finish about the same times as museum plaza

Yeah take it from this guy. :nuts:

That's probably about as likely as Museum Plaza actually ever happening.

Why are you even asking that?
I just don't know, I thought it was a serious question... I know the kind of money they have but I don't know how much they will be affected by all this.

it will be on hold until the economuy gets better. it will finish about the same times as museum plaza

Is that so? If you could possibly post the source you got that from, you know just so I know it's credible.

it will be on hold until the economuy gets better. it will finish about the same times as museum plaza

That cant be true, MP is D*E*A*D this project is going to happen.

Looks like we have a couple of Warren Buffets in here. Hey SRG and CVG can you all give me some stock advice since your so in tune with the economy. Better yet since you can tell the future so much what are the lottery numbers and heck, who's goin to win the super bowl. It's time for me to make some bets. :)

In all fairness baring the economic collapse of Devon this does have a lot better (if not definite) chance of getthing built than Museum Plaza because it's being backed by a fortune 500 company. Like any other large successful company they need a giant imposing way to demonstrate that success. What better way than a 925 foot, dare I say beautiful, beautiful, tower against the flat Oklahoma landscape. It will be the tallest thing for hundreds of miles, I can't think of a better statement for Devon.

Not that such a statement is a bad thing or has anything to do with corporate greed, it's just the way the world works. Nearly all great wonders of the world make such a statement, think of the pyramids, I guess it's just human nature. Being that I love architecture and big buildings as much as anybody else on this site, I can't say that I would have it any other way. At the end of the day it's a beautiful addition to OKC's skyline and I don't know of any poster on here who wouldn't be pitchin a tent right now if this were announced in their city.

That's my two cents :)

can you all give me some stock advice since your so in tune with the economy. Better yet since you can tell the future so much what are the lottery numbers and heck, who's goin to win the super bowl. It's time for me to make some bets. :)


1. Buy Merck and Devon.
2. Avoid the lottery.
3. The Steelers, of course.

That last one I have a problem with! :lol: I like the Ravens in the end. :lol:

I hope it's the Ravens or the Titans representing the AFC, I can't stand the Steelers...

Anyway back to the topic. lol

So Q3 2008 was a $2.6 billion profit, Q4 2008 is a $6.8 billion loss. Devon says the loss is a product of an accounting rule that will no longer be in effect for 2009. Most importantly, the loss will NOT alter plans for the Devon Tower.

-------

Devon Energy reports record loss
BY RANDY ELLIS
newsok.com

Published: February 4, 2009

Oklahoma City-based Devon Energy Corp. today reported a record $6.8 billion loss for the fourth quarter of 2008 — a sudden turn of events since the company reported a record $2.6 billion profit the previous quarter.

The $6.8 billion quarterly loss amounted to $15.42 per common share. For the year, Devon lost $2.1billion, or $4.85 a share. That was also a record.

Devon stock was trading down more than 5 percent in mid-morning trading as financial results did not meet analysts expectations.

The dramatic reversal at Devon is not the result of any major change in the way the company does business, said Vince White, Devon's senior vice president of investor relations. Instead, he said it is a reflection of oil prices that plunged from about $140 a barrel in mid-2008 to about $40 a barrel at the end of the year.

Securities and Exchange Commission rules required the company to value its oil and natural gas properties based on oil and gas prices on Dec. 31, resulting in a $7.1 billion non-cash charge, White said.

Accounting rules will change next year so that oil and gas properties will be valued at average prices throughout the year. Had those rules been in effect this year, Devon would not have had a loss, he said.

Despite the fourth quarter loss, Devon remains in good financial shape, White said.

Devon, Oklahoma's largest publicly traded company, has more than $3 billion in cash and unused credit lines and the non-cash charge does not impact the company's cash flow, cash position or access to credit lines, he said.

“It does not change the value of what we own at all,” White said. “It is purely an artifact of accounting.”

J. Larry Nichols, Devon's chairman and chief executive officer, was similarly optimistic about the company's underlying performance last year and its prospects for the future.

“Despite the effects of the sharp fourth-quarter declines in oil and natural gas prices, 2008 was a very successful year for the company,” Nichols said. “Cash flow reached an all-time record of nearly $10 billion. We increased oil and gas production by six percent and drilled 2,441 wells with a 98 percent success rate. In addition, we added 584 million barrels of proved reserves before price revisions at a very attractive cost per barrel.”

White said the loss does not alter Devon's plans to build a new office skyscraper in downtown Oklahoma City.

“We will need this building to accommodate our future growth,” he said.

http://newsok.com/article/3343215

Devon has already started site prep work on the property. And as world construction prices go down, the likelihood of Devon Tower being built goes up. Devon has already had the cash set aside for the project, and now it looks like it will cost less than they have planned for.

Scrapped skyscrapers benefit Devon
Construction Costs for tower may drop
BY STEVE LACKMEYER
Published: April 3, 2009

Planned skyscraper projects are being scrapped around the world, leaving Devon Energy looking at significant potential cost savings as it proceeds with construction of its 54-story world headquarters.

Klay Kimker, Devon’s corporate services manager, is aware that some local residents worry the economic downturn will claim its tower, as well. But both Kimker and Chief Executive Officer Larry Nichols say the project is still on track.

"We were very hopeful when we started the project that costs might go down,” Kimker said. "There were some indications that some of the pricing was high historically. And obviously any reduction in cost is of benefit to Devon and to the project.”

Devon estimated the tower’s cost at $750 million when project designs were unveiled in August. Kimker said any cost savings won’t be known until after a contractor is hired. Interviews with the top two finalists are ongoing and a choice is expected within weeks.

John Wood, project manager with Hines, the tower developer, thinks speculative skyscraper construction will be a lot less common in the future.

Two years ago, as Devon was preparing to make public its plans for a tower, skyscrapers were being announced across the country in what was a "go-go economy,” Wood said. Lenders, he said, were fueling the construction with aggressive interest rates and terms.

"There has been a fundamental shift in how real estate projects are capitalized,” Wood said. "And there are definitely a lot of people out there who think it’s a permanent shift.”

Wood, however, thinks towers — like the one to be built for Devon Energy — will continue to be built as companies look to modernize their workspaces.

Competition heats up
Just a year ago, Oklahoma contractors were worried about labor shortages and some public works jobs had to be readvertised because of a lack of bids.

That may be changing. Douglas Tapp, executive director of the Oklahoma Association of General Contractors, is already seeing out-of-state companies bidding for local jobs.

"Obviously, there’s not as much work as there was eight months to a year ago,” Tapp said. "We’re still doing OK. Most are feeling fairly comfortable through this year. The problem they (Oklahoma contractors) are running into is there isn’t enough work coming out on the bid board now that will carry them into next year.”

Tapp said the industry is waiting to see how much of the Devon tower project employs local labor. The project, he said, might be timed perfectly with the expected drop in jobs.

"We’re pretty comfortable there will be some of our state players involved,” Tapp said. "I’m not privy to how they’re going to split it up. You would hope that once the big tower gets going and started, it might trigger some other entities to start their work.”

construction begins Oct. 1

^^ Good news. :)

I'm curious what site work that Shane thinks has happened. I drive by the site all the time and don't see anything. But October 1st will be here soon enough, even though I will sadly be back up in Calgary by then.

^^I'm curious what site work that Shane thinks has happened. I drive by the site all the time and don't see anything. But October 1st will be here soon enough, even though I will sadly be back up in Calgary by then.

neither have I SRG,:banana: there is a parking garage and a parking lot that is it, but OCT 1st is getting closer!

two and a half monts till const./prep starts-its gonna be great posting pics of progress on SSC!

This is a beautiful design and be the envy of many cities throughout the South....does anyone know who the glazier/glass contractor is on this?

I hope this tower lights up downtown with light displays or a light becon on top,something to light the night sky up!

You know they still haven't released a rendering of exactly what it will look like at night. I think they had said the triangular parts up top would be lit

I can't wait

I can't wait

^^My friend's think i'm a big NERD for being excited about a new skyscraper being built in OKC!I think I'm not the only one excited about this monster tower being built!:banana:

http://4.bp.blogspot.com/_L3gtvb8usg4/SneHPF_SPAI/AAAAAAAAAJY/4OTGdkRgQx0/s400/devon.jpg

New Devon rendering released today.

Good find SRG. It's still so impressive, the sheer size of this building. I really hope there will be at least another tower taller than 500 feet that'll come in soon after.

And how is Devon doing with the oil prices how they've been? Any news or statements that may affect this tower?

New renderings have come out:

http://mysite.verizon.net/res17zef/devona.jpg


http://mysite.verizon.net/res17zef/devonb.jpg


http://mysite.verizon.net/res17zef/devonc.jpg


http://mysite.verizon.net/res17zef/devond.jpg


http://mysite.verizon.net/res17zef/devone.jpg

Youd think this would make OKC's skyline become a national contender, but
needs more in-fill b/w its tallest and 2nd tallest.

But this is about Devon Tower, not OKC's skyline...
Just a great building, though.

Well it's not like OKC has a bad skyline..it's actually pretty good for a city its size. The fact is that it's a line of towers that hangs around 500-400 ft. There are other skylines that are dominated by a single tower, too. Omaha, for one. Minneapolis in the 1970s is what I think of when people say Devon will stand out too much.

http://i70.photobucket.com/albums/i120/Iandependant/0000-1.jpg
Minneapolis, 1970s

http://www.crh.noaa.gov/images/oax/climate/extremes/omaha_skyline.jpg
Omaha, today

http://pictopia.com/perl/get_image?provider_id=493&size=550x550_mb&ptp_photo_id=3007656
Oklahoma City, today..from NW

http://www.cvent.com/destination-guide/oklahoma-city/images/oklahoma-city-skyline-02.jpg
Oklahoma City, today..from SW

http://blog.newsok.com/okccentral/files/2008/08/devontower1.JPG
Oklahoma City, 2012..from SW

OKC isn't a small skyline, Devon Tower is just a huge tower. Tallest tower from Chicago to LA.

that's sweet...

maybe instead of one 900+ footer, twin 750 footers would make for a better overall skyline? or moving the suburban towers into the CBD?

OKC needs some streetcars. and more gentrification incentives. get those and it'll be poised to be one of the top up and comers in the next decade...it has the backbone layout, unlike say, early 90s Atlanta.

-

I totally agree about where our downtown is and what streetcar would do for it. Forget all this MAPS 3 convention centers, downtown parks, riverfront stuff, and so on.. if it doesn't have streetcar in it by the time we vote on it in December it will all be a waste. I spoke to the City Council earlier this week about it, and I'll probably go back next week.. I feel like the people that just want at least a streetcar system downtown are gaining a lot of momentum.

That's not a new suggestion, about the twin towers. Leadership Square was originally planned to be a 750-ft tall skyscraper when it was proposed in the early '80s. So instead they just did twin towers, one 300 ft, the other 400 ft, so they didn't throw the skyline out of whack.

http://www.mcafeetaft.com/Files/MT_Office_OKC.jpg

I have to believe though that some of these suburban towers, the ones with the most interesting architecture, would just be overshadowed in downtown. They would be in the shadows of taller skyscrapers, and because of how often downtown goes through urban renewal every decade, they probably would have been demolished by now.

Talking about towers like The Classen, at NW 23rd and Classen, just 2 minutes north of downtown..

http://www.emporis.com/images/5/2004/02/247354.jpg

And the Founders Tower, on the western edge of the NW Expressway skyline..

http://www.shawver.net/PIC/Projects2/Fountowr.JPG

Both of these towers are doing pretty well and haven't been touched, except for both being recently renovated as condos.

http://www.urban-photos.com/gallery/albums/city_galleries/omaha/omaha_58_9815.jpg

Great news, just checked Devons financial reports and they actually had a gain last quarter. Only down $3.5 billion on the year now.

$3.5 bil is chump change for Devon, and you make it sound like Devon is in debt.. the reason their profits fell compared to in last years is a new accounting rule from the fed's that has kept Devon from being able to count the Barnett Shale and Alberta oil sands (the world's 2nd largest oil field) as proven reserves, because the fracturing technology to extract resources (that exists now) didn't 20 years ago. The new rule is designed to prevent oil companies from being able to market stock with over-inflated, grandiose projections..but Devon has beat every single quarter projection for its stock for a long, long time.

http://moneycentral.msn.com/content/P150651.asp
http://www.reuters.com/article/companyNews/idUKTRE54585W20090506

And, even though this year the stock took a hit with the new accounting rules (although still beating projections), total company production is still up 7% this year.

And is there a reason for the super-huge Omaha picture? Couldn't you have found a smaller one, or at least explained why you were posting it?

Omaha picture is to show people the skyline without the 2nd tallest building being hid. Also shows how the tallest is in scale with the rest of the buildings from a girth standpoint as well. Devon will be significantly out of scale in both height and bulkiness of the building.

And $3.5 billion is not chump change to Devon, considering the company only had about $12 billion in revenues and $3.6 billion in profits last year. You all used the accounting rule excuse last year for the huge loss. Supposedly that was supposed to change this year.

Wait.. in the above post not only do you use the same word twice in a single sentence, but you also first talked about a $3.6 bil profit last year, and then you say there was a huge loss last year.. so which is it? I'm confused by your post.

Huge loss in the 4th quarter, something like $6 billion, you know exactly what I am talking about.

So Q3 2008 was a $2.6 billion profit, Q4 2008 is a $6.8 billion loss. Devon says the loss is a product of an accounting rule that will no longer be in effect for 2009.

nm

Wait.. in the above post not only do you use the same word twice in a single sentence, but you also first talked about a $3.6 bil profit last year, and then you say there was a huge loss last year.. so which is it?

And in all seriousness, if you are going to try and act like some kind of English professor with that comment in your sig., try constructing sentences better than that.

It's just hard sometimes to understand people's Internet speech.

Well it's not like OKC has a bad skyline..it's actually pretty good for a city its size. The fact is that it's a line of towers that hangs around 500-400 ft. There are other skylines that are dominated by a single tower, too. Omaha, for one. Minneapolis in the 1970s is what I think of when people say Devon will stand out too much.

OKC isn't a small skyline, Devon Tower is just a huge tower. Tallest tower from Chicago to LA.

I know your trying to make it seem like Dev Tower won't dominate the skyline like people are exaggerating, but it will. I agree OKC isn't a small skyline, but its not a big one, either.

The difference b/w Omaha's (your example) tallest, and 2nd tallest is 156 feet.

Meanwhile the difference b/w OKC's current tallest and Dev Tower is a whopping 425 feet.

SRG, $3.6 billion isn't chump change for Devon. They may be the largest private oil company but let's be real. It's no doubt that Devon is an impressive company and what Cashville has to say doesn't make a difference, it's an oil company, they are going to face huge profits and losses. But please don't say that $3.6 billion is chump change because it really isn't, it may not be a big deal but it's definitely not something that they could just throw around as if it were chump change.

And yes 425 feet is a very significant difference, it will stick out like a sore thumb but it will only be a matter of time before people are used to it and it begins to blend in. OKC can expect at least one or two more towers whether it be a hotel, residential or office within the next 10 years I'd say and if we don't see one then I would be very surprised. It's prime for it, no matter what Cashville conjures up in his head.

Office- Nope, you are looking at class A vacancy rates of over 30% when this tower is complete. There is a reason it has been decades since any significant office tower has been built in downtown OKC, and it will be several more before another one is a possibility.

Residential- I dont see anything that indicates the city has demand for a large residential building. Most cities of this size dont, just not a large enough market for these types of developments.

Hotel- Probably your best bet, but chances of it being over 300-400 feet tall are very slim. Even adding residential units to the tower it would be highly doubtful it reaches the height of the current tallest.

Seems people are under the impression that just because Devon is building a large tower that others will follow. That is not gong to be the case, there has to be a demand for one. The last 25-30 years shows that there isnt a real demand for high rise developments in OKC.

Office- Nope, you are looking at class A vacancy rates of over 30% when this tower is complete. There is a reason it has been decades since any significant office tower has been built in downtown OKC, and it will be several more before another one is a possibility.

You're right, there is a reason why it's been 30 years since downtown has seen a new office tower. Downtown was dormant. Dead. No longer the case. For years OKC had the highest downtown vacancy of any major city, but now our bigger brother across the Red River has the top spot..and it's not like the Big D's skyline isn't growing. In less than five years we went from 33% vacancy downtown to 27%, back in 2008. I don't know what it's at today, right now. My guess is either stable, or slightly lower (27-25%).

Residential- I dont see anything that indicates the city has demand for a large residential building. Most cities of this size dont, just not a large enough market for these types of developments.

Hmm..eau contraire. We had 3,000 residential units in the works before the national lenders clamped down. Down to 1,500 now, but still a big number. 3,000 exceeded my optimism, and after that, 1,500 is a disappointment, but it still flies in the face of anyone who says OKC does not have demand for downtown residential development.
http://www.downtownokc.com/Portals/0/docs/OKC%20Downtown%20Housing%20Study%207-05.pdf

Hotel- Probably your best bet, but chances of it being over 300-400 feet tall are very slim. Even adding residential units to the tower it would be highly doubtful it reaches the height of the current tallest.

The last mid-rise bldg built downtown was the 16-story Renaissance Hotel, which the city sold its soul in order to get built, back in 2000. The Renaissance got to be the official headquarters hotel for the newly renovated Cox Convention Center. As we go forward with a new convention center, this time it will have a much, much larger hotel on-site, built into the convention center complex. The CVB did a study suggesting 500-800 rooms in a new convention center hotel.

Just to correct a few points with facts.

I'm just going to be really immature for a second; Cashville, why don't you stfu?
Please. Your constant blabbering of anything OKC related makes me wonder if you have a life.

Regardless of whether or not that loss is from a miscalculation from a new fed regulation or not, it's a loss. Frankly though, isn't that supposed to be expected in a recession? Like really, it's less than two months until construction starts. It's going to happen. So in the meantime, find something else to bicker about, you aren't getting anywhere in this argument.

Oh and thanks for the picture of Omaha. It's real pretty.

I know it's laughable..but here's an accurate illustration of current OKC + Devon. From this perspective, Devon is in the back of the skyline, almost level with the Chase Tower (500 ft even). So I made it an additional 4/5th the height of Chase.

http://www.filehive.com/files/090809/23267429_550x550_mb_art_R0.jpg

You're right, there is a reason why it's been 30 years since downtown has seen a new office tower. Downtown was dormant. Dead. No longer the case. For years OKC had the highest downtown vacancy of any major city, but now our bigger brother across the Red River has the top spot..and it's not like the Big D's skyline isn't growing. In less than five years we went from 33% vacancy downtown to 27%, back in 2008. I don't know what it's at today, right now. My guess is either stable, or slightly lower (27-25%).

This is one of the reasons I was concerned for OKC when this tower was proposed. typically developers looking to build office high-rises are looking for markets with 10% or less vacancy rates.

I like the tower but I'm worried it will flood the market and stall any new major office developments in the OKC downtown core for a long time.

I hope that 25-27% estimate is not for Class A space, if so thats atrocious and much worse than I thought.

There is also a big difference between your typical downtown residential units, and the units that call for a luxury condo tower of any size. You are typically calling for several $1 million+ units in those buildings. There is clearly not a market for that in OKC.

And the 500-800 room hotel is in line with what I was saying earlier. That might be in the 300-400 foot range if you are lucky.

This is one of the reasons I was concerned for OKC when this tower was proposed. typically developers looking to build office high-rises are looking for markets with 10% or less vacancy rates.

I like the tower but I'm worried it will flood the market and stall any new major office developments in the OKC downtown core for a long time.


What will it flood the market with, though? Devon is not going to lease out any space, except for retail clients on the street level. The only thing it will do is free up the collection of space Devon has in 5 different buildings, including 20 floors in the Chase Tower, all of a 23-story tower, and then 5 five floors here and there.

To me that's a good thing because I know the Chamber has had difficulty in getting new companies moving downtown due to the lack of available contiguous space. When you look into the 27% vacancy, almost none of that is Class A space, or even Class B for that matter (which OKC doesn't have a whole lot of Class B anyway). Class C is not going to be leased anytime soon unless it is renovated or, in the case of some buildings, converted to residential, and unfortunately, that's a large part of that 27%.

What's probably done more to bring that vacancy down so much recently is the renovation of several big abandoned historic buildings into hotel (i.e., Skirvin Hilton, Colcord) and residential conversion in the old Downtown Library, the top floors in CityPlace Tower, and all of the historic restorations in Bricktown, A-Alley, and MidTown. That has taken a LOT of abandoned Class C space off the rolls, and there's still a lot of Class C to go.

What will end up happening is that Devon's consolidation will free up space that allows more large firms to move downtown, or perhaps even entice more corporate relocations to OKC. The block of abandoned historic mid-rises directly across Hudson Avenue from the Devon Tower was bought up by Nicholas Preftakes who has something in store for the block, in conjunction with Devon Tower. It will speed up gentrification in the Arts District/western downtown, which will liquidate even more abandoned Class C space. By the time Devon Tower is finished it's not out of the question that downtown vacancy will be down to 20%, as a realistic projection. But I'd hate to jinx it.

I hope that 25-27% estimate is not for Class A space, if so thats atrocious and much worse than I thought.

There is also a big difference between your typical downtown residential units, and the units that call for a luxury condo tower of any size. You are typically calling for several $1 million+ units in those buildings. There is clearly not a market for that in OKC.

And the 500-800 room hotel is in line with what I was saying earlier. That might be in the 300-400 foot range if you are lucky.

I don't know what the Class A occupancy rate is but I bet I can find it pretty easily..or one from the last 3-4 years at any rate.

I agree that condo high-rise developments are completely different game than typical downtown units. I'm sure if you were in OKC you'd be familiar with the situation, but one of my biggest complaints with the downtown development boom is that it was OCURA's brilliant idea to start with high-end units, and try and max out that market (they are concerned that it will be harder to get high-end units if there are a lot of mid-range units already built). It completely defies real estate and city planning principals, though. They're already developing it like it's the downtown version of a luxury golf course neighborhood, so I just don't see where OKC hasn't proven no market for it. Block 42, Maywood Park, Centennial on the Canal, The Montgomery, Central Avenue Villas, The Hill, and so on..all high-end. Maywood Park units actually went for around $750,000.

As for the hotel, just depends on the design. Fort Worth got a new 500 ft tall skyscraper out of a 600-room hotel. Dallas will be going with a much shorter, bulkier design with 1,000 rooms. San Antone's new convention hotel has 1,100 rooms and is only 410 ft or so.

http://media.star-telegram.com/smedia/2009/08/06/16/599-0809_OmniOpening3_RE_ad_08-09-2009_Tarrant_JCUJB66.embedded.prod_affiliate.58.jpg

Actually, bring out the champagne.. it's lower than I had anticipated, meaning OKC's vacancy rate has dropped nearly 12% in the last five years. Cause for celebration, I'd say.

http://blogs.journalrecord.com/persquarefoot/2009/07/15/little-insulation-for-oklahoma-citys-office-market/

Today Downtown OKC is 23% vacant -total- including all of the Class C space. The largest chunk of that 23% is the 78-year old First National Bank tower (over a million SF), currently undergoing a massive renovation. OKC's overall, metro-wide office vacancy rate is 15%. Class A space in downtown has a 6% vacancy rate, and Class B space in downtown has a 9% vacancy rate.

http://findarticles.com/p/articles/mi_qn4182/is_20041008/ai_n10163652/
34.8% in 2004..

That's a pretty good rate, and if the city is look for existing contigent office space then this should provide that. But in terms of new office towers, which is what i was talking about in the above post, this will set you back because its the equivelent of not needing a new 20 story office tower, a new 23 story office tower, or new five story office developments here and there.

That's what i was referring to when i said i was a little worried for OKC.

Also, referring to the 500-800 hotel rooms, I dont think it's all that unfeasible for it to crack the 400ft. mark if its closer to the high end of that range.

Centrepointe here in Lexington (if built) will have 250 rooms on thirteen stories of the tower so if you multiply that by three and use 750 rooms then you are talking about 39 stories with 8-9 feet per floor (hotels tend to have a lower floor height then other highrise buildings) then you're looking at the 300' - 350' range.

However Centrepointe has a very large footprint, its an entire city block, so if the footprint is small that means fewer rooms per floor and a higher floor count. If thats the case i could imagine that it would crack 400'

Then you have a project like the JW Marriot in Indy that is approx. 1,000 rooms and will only be 373 feet tall.

^^ Hmm... good point

Austin's Hilton Convention Center Hotel is 31 floors, 377', with 802 hotel rooms, and 93 condominiums on the top 5 floors. It's also home to 60,000 square feet of meeting space. Usually these convention center hotels aren't that tall.
http://www.usabilityprofessionals.org/conference/2007/images/AustinHilton.jpg

Well I have a feeling that if the City is paying for it, it will be whatever looks the best. Hopefully more attractive than these hideous big box hotel skyscrapers.

Here is are some early sketches that could change of the proposed convention center..Devon Tower is on the right, rising over the Ford Center (which they forgot to account for the facelift it's getting).

http://www.filehive.com/files/090515/turbinomicokc3.png

http://i54.photobucket.com/albums/g100/TheOkie/convcenter-1.jpg

Cashville the residential isn't that far fetched. I understand what you are saying when it comes to the price tag. But I was really back tracking to the rumored 30 story residential tower that I think you may know of, Rick Dowell's. But I think it's safe to say that won't happen, at least not for a while.

Hotel, convention space will be growing ten fold (a lot ok?) more than likely in the next 5-10 years if it comes up with funding. Also with the NBA and the like, could possibly create some slight demand, not much, but has the chance to create demand for a high rise hotel or we could even go back to the residential discussion (note I'm not saying the NBA alone will do that, it will simply be a solid anchor if it comes to it, imo).

Office, SRG wasn't American Fidelity going to move into one or more of the vacant towers that Devon occupied? If so that may impact the vacancy rates significantly, I don't know enough of them though.

Btw I never said anything about supertalls or high rises specifically. I just meant towers, aka buildings in general.

Austin's Hilton Convention Center Hotel is 31 floors, 377', with 802 hotel rooms, and 93 condominiums on the top 5 floors. It's also home to 60,000 square feet of meeting space. Usually these convention center hotels aren't that tall.
http://www.usabilityprofessionals.org/conference/2007/images/AustinHilton.jpg

Hilton Americas-Houston is Houston's, and its only 24 stories, but luckily not our tallest.

And it has over 1200 rooms, so its pretty short for its room number. I agree with you, Convention Center Hotels are usually short/ and or not that tall.

http://i324.photobucket.com/albums/k353/northbayoukid/3.jpg

it amazes me how moronic people must be. okc is a growing city, just like any other. considering it's a top 10 city to do business, a top 10 most livable city, and home to the nation's lowest unemployment rate, i don't think devon tower will be the end of the road for okc. there might not be anything else on the horizon, or there might be, but if there isn't surely at some point there would be.

in the early 1930s when okc got its first skyscraper, people didn't say oh my god it's going to look out of place. they said bring it on. devon tower..bring it on. this is merely just the next level for okc.

it amazes me how moronic people must be. okc is a growing city, just like any other. considering it's a top 10 city to do business, a top 10 most livable city, and home to the nation's lowest unemployment rate, i don't think devon tower will be the end of the road for okc. there might not be anything else on the horizon, or there might be, but if there isn't surely at some point there would be.

in the early 1930s when okc got its first skyscraper, people didn't say oh my god it's going to look out of place. they said bring it on. devon tower..bring it on. this is merely just the next level for okc.

i know it'll look out of place, you know it'll look out of place, the whole world knows it'll look out of place!:nuts:

what bothers me is people comparing it to other cities,among other things, in an effort to understate the domination of this tower,
when it is CRYSTAL CLEAR how this tower will loom above OKC.

anyways, they should build an observation deck on this. it would be awesome!:banana:

i know it'll look out of place, you know it'll look out of place, the whole world knows it'll look out of place!:nuts:

what bothers me is people comparing it to other cities,among other things, in an effort to understate the domination of this tower,
when it is CRYSTAL CLEAR how this tower will loom above OKC.

anyways, they should build an observation deck on this. it would be awesome!:banana:

Please get back to me when structural rise occurs. (Though I am a native Seattleite, this has nothing to do with the Sonics)...it just seems a poor risk to build such a massive building in today's environment. I agree with others, if this is built it will halt future development of OKC for atleast a decade, maybe two. As for the skyline look, yes, it will remind me of Omaha, no doubt.

Damn you OKC, this is such a gorgeous tower, would look real nice next to BoA tower in Dallas.

Please get back to me when structural rise occurs. (Though I am a native Seattleite, this has nothing to do with the Sonics)...it just seems a poor risk to build such a massive building in today's environment. I agree with others, if this is built it will halt future development of OKC for atleast a decade, maybe two. As for the skyline look, yes, it will remind me of Omaha, no doubt.

Surely you mean development in the CBD. And by development in the CBD, you mean any future high rise. One tower is not going to halt all of Oklahoma City's development, that's ridiculous.

I have to side with you and others on this subject. With the completion of this tower, I feel like there is going to be major excess space downtown where Devon had previously been. I don't feel like it is going to cripple OKC, but there is going to be a large chunk of space that is going to have to be filled, and who's gonna fill it? And until it does fill in, we aren't going to get another tower added to our skyline unless it's a hotel or residential, and even I'm skeptical of a residential tower coming to fruition. I am however, fairly confident in a new hotel highrise coming relatively soon. Nothing massive, but maybe 400-500 ft. I don't know.

The new tower will look out of place. As mentioned it's height will exceed the next tallest tower by 425 feet. Then look at the sheer size of it as a whole, it's easily two or three Chase towers (next tallest building in OKC) around. It will look funny compared to the rest of the buildings, there's no arguing. End of discussion.

OKC can only hope that a couple big name companies come and move in the space that's left. I hope it doesn't destroy the CBD when they move..
Point is though, this tower is so gorgeous and it's going in Oklahoma City.

To sum it all up...

Look what happened when kerr mcgee left downtown- their campus was quickly purhased by a company that had already been looking for continuous space. There are other local companies that would be interested in owning devons current tower, and larry Nichols says he has spoken with out of town businessmen on the sidelinea waiting for space to open up. Nichols is acutely aware of what his tower will do to okc, and I'm almost positive he has a master plan behind it all. This is a CEO who cares a lot about his city.

With 6% class a vacancy in small chunks around the cbd, there is no room for a new large company to rent. Devons vacancies will open up some in-demand space. Besides that, okcs economy is still doing alright and we have 3 years for national recovery before Devon moves.

The new tower will look out of place. As mentioned it's height will exceed the next tallest tower by 425 feet. Then look at the sheer size of it as a whole, it's easily two or three Chase towers (next tallest building in OKC) around. It will look funny compared to the rest of the buildings, there's no arguing. End of discussion.

End of dicussion.. but that's a matter of opinion. It'll dominate but I don't think it will look bad.

OKC can only hope that a couple big name companies come and move in the space that's left. I hope it doesn't destroy the CBD when they move..
Point is though, this tower is so gorgeous and it's going in Oklahoma City.

To sum it all up...

What is the point of even saying anything like, "I hope it doesn't destroy the CBD when they move" ?? You know, Downtown Tulsa is also kind of dominated by a skyscraper that is out of scale with everything. It's not like OKC currently where every single building fits in just perfect..which is just what happens when a skyline hasn't grown in many decades.

If you are worried that Devon Tower will "destroy the CBD when they move" you don't have any right being an active participant in discussions about Downtown OKC development.

Like I said earlier, there is practically no wiggle room in the Class A market in Downtown OKC right now. Companies can't move downtown when there isn't any contiguous space available, and anytime there is, it gets snatched up by someone who's been waiting for a while. You suggested yourself earlier that American Fidelity Insurance (one of Forbes' Top 40 Companies to Work For) could come in. They've been looking to move downtown, from their HQ complex on Classen between NW 16th and NW 23rd, where they have a thousand workers.

If anyone wants to talk about Downtown OKC office vacancy, you have to take into account that overall vacancy has gone from 34% in 2004 to 23% today in 2009, and that individually, Class A vacancy is 4%, Class B is 6%. By the time that Devon Tower is built, vacancy will no doubt be a lot lower even, especially as the First National Bank tower undergoes renovations (the 78-year old FNB tower is downtown's largest building and represents HALF of the abandoned space in downtown).

End of dicussion.. but that's a matter of opinion. It'll dominate but I don't think it will look bad.



What is the point of even saying anything like, "I hope it doesn't destroy the CBD when they move" ?? You know, Downtown Tulsa is also kind of dominated by a skyscraper that is out of scale with everything. It's not like OKC currently where every single building fits in just perfect..which is just what happens when a skyline hasn't grown in many decades.






Again comparing to another city only makes it worse. Downtown Tulsa's tallest and 2nd tallest is a difference of 151 feet, so it isn't dominated.

http://i324.photobucket.com/albums/k353/northbayoukid/stadia/1-1.jpg

In Tulsa's skyline you can make out the tallest building , but it doesn't really dominate it.

In fact in some angles it is seen almost the same height as other buildings, and even smaller,too.
http://i324.photobucket.com/albums/k353/northbayoukid/stadia/1-2.jpg

Imo, domination of a skyscraper is when, from every angle the tallest building seems like the tallest building.

What made me bring up the BOK Tower is that TU 'cane had a point about how Devon Tower isn't just taller, but huger in general, compared to the other towers. Well look at DT Tulsa. BOK isn't just longer, but the bulk of BOK is mostly in its girth...erm I mean the actual footprint of BOK is at least twice as large as the next closest. Then there's the City Hall Borg Cube which just looks completely out of place, albeit very cool.

A skyline is supposed to be a diverse collection of different shaped, different sized buildings. Devon Tower will break up the monotony of the OKC skyline.. there's no point to clinging onto monotony.

If you are worried that Devon Tower will "destroy the CBD when they move" you don't have any right being an active participant in discussions about Downtown OKC development.

So true. Juss Sayin'.

Tear down the Eiffel Tower!

If you are worried that Devon Tower will "destroy the CBD when they move" you don't have any right being an active participant in discussions about Downtown OKC development.


Seems strange that you would want to alientate people who are concerned for the well-being of your city. And yes it is concern.

If thats how you feel you can count me out

What you fail to notice is that the Devon Tower is the CBD's crowning achievement if it hasn't had one these past few decades. Yes, there is going to be some concern when it comes to the vacating of their former space [because like I said, I'm concerned with that also], but Devon's new tower will inject so much more into the CBD than it would ever be able to do in it's current place. It is going to change our downtown forever for the better and to say that it might destroy the CBD is just laughable and also very uninformed.

That's what I gathered from TU 'cane's quote. Even though I don't think he meant to put it that way because he knows what positive things are coming out of this new tower; and I'm sure he's very excited as well.

^^I never said it would destroy the CBD. I just said i was worried it would stall new development.

If you guys want to know why some forumers are hostile toward OKC its because we chime in with concerns like these, legitimately concerned for your city, and its met with statements like "you have no right participating in this discussion."

When concerns are raised about other developments in other cities we dont get this kind of reaction. You have to understand that no one is rooting for the demise of OKC. It's a big leap to read "I'm worried about this" as "I want your city and this tower to fail." which is the impression we're getting from the responses we receive.

No one is saying that.

I know that not all OKC forumers are doing this but the ones that are need to understand that they are creating the precise negative sentiments that they are complaining about.

This thread is getting out of hand.

^^I never said it would destroy the CBD. I just said i was worried it would stall new development.

If you guys want to know why some forumers are hostile toward OKC its because we chime in with concerns like these, legitimately concerned for your city, and its met with statements like "you have no right participating in this discussion."

When concerns are raised about other developments in other cities we dont get this kind of reaction. You have to understand that no one is rooting for the demise of OKC. It's a big leap to read "I'm worried about this" as "I want your city and this tower to fail." which is the impression we're getting from the responses we receive.

No one is saying that.

I know that not all OKC forumers are doing this but the ones that are need to understand that they are creating the precise negative sentiments that they are complaining about.

My post was a direct response to a different comment from someone that should know better than to say "will destroy the CBD." That's getting hysterical, even for someone who doesn't know better, let alone someone who does or should.

It's like saying.."I think Atlanta needs to just stop growing now. It's getting out of hand. Any more growth will just destroy the entire metro." How do you shroud a statement like that in "genuine concern" for the place? It's a very touching thing to say, and I really mean that about as honestly as you mean "genuine concern", but I don't think we're at risk of "having our downtown destroyed by Devon."

It's one thing to say "the tower poses some potential overlooked risks" and then it's a whole 'nother thing to say "Devon Tower will destroy downtown." One is a legitimate thing to add to a discussion, the other is just a hysterical statement made by someone who makes so many contradictions that it's hard to tell where he stands.

Go sit down with someone from Arlington (deplorable suburban cesspool that a lot of people enjoy living in) and talk to them about JerryWorld. All of those people are really excited to have the new stadium in their town and how it will raise its profile. Then you get to the hard questions, "Now I'm worried that this new stadium is going to destroy your town. It looks so out of place that it appears aliens have indeed landed in Texas. Whoops, there goes the whole damn city." That's why I just completely avoid topics like Arlington where I have nothing good to say.. and I especially have nothing informed to say about Arlington. I probably then shouldn't suggest to someone from Arlington that JerryWorld will destroy their fine little town...

Yeah, well you don't seem to take very kindly to anyone piping in who doesn't know the most intimate details of your city's development history or is not 100% convinced that nothing will go wrong anywhere with your development plans. And since I don't fit either category I'm going to bow out of the OKC love fest.

Yeah, well you don't seem to take very kindly to anyone piping in who doesn't know the most intimate details of your city's development history or is not 100% convinced that nothing will go wrong anywhere with your development plans. And since I don't fit either category I'm going to bow out of the OKC love fest.

Drama queen much?

You make it sound like I'm not allowed to express my opinions. From your pov, "SRG hates it when anyone disagrees with him and doesn't know the intimate details of a city's development history." From my pov, "Gosh don't I get to share my opinion too? Why always bash me just because my opinion is automatically going to be very different from most people's."

Yeah, well you don't seem to take very kindly to anyone piping in who doesn't know the most intimate details of your city's development history or is not 100% convinced that nothing will go wrong anywhere with your development plans. And since I don't fit either category I'm going to bow out of the OKC love fest.

As far as I'm concerned. There are only two active members that partake in said OKC love fest, and I encourage you to question anything that you don't agree with or have a concern for. That's how discussion and progress happen. This thread is getting cumbersome though, this is why I never get on this site and post, I'm more of a lurker, than poster, and I alway feel embarrassed by OKC's unnecessary boosting on this site. I am also going to bow out of this conversation.

As far as I'm concerned. There are only two active members that partake in said OKC love fest, and I encourage you to question anything that you don't agree with or have a concern for. That's how discussion and progress happen. This thread is getting cumbersome though, this is why I never get on this site and post, I'm more of a lurker, than poster, and I alway feel embarrassed by OKC's unnecessary boosting on this site. I am also going to bow out of this conversation.

By "unnecessary boosting" you mean not negatively reporting OKC's progress..

By "unnecessary boosting" you mean not negatively reporting OKC's progress..

He might mean that he considers it gauche to express pride in your city on your city's own damned thread.

Well put. This is what seems weird to me, and I have NOTHING at all against Classof2010 or TU 'cane, in fact I've enjoyed conversing with both of them a lot and they have good opinions.. I just don't get why they feel in order to be taken seriously on here they have to make both positive AND negative statements on the same subject. Or else Cashville and others will call them shameless OKC boosters...

Cashville would call anyone who was more positive than "it sucks" an OKC booster so why bother?

You know, I don't even know if I'd call myself a booster. I've been pretty critical at times. I just don't like people like Cashville being critical. But if anyone's read my blog or glanced at it, you'd see where 75% of the time I'm actually very critical of the status quo in OKC. I call a spade a spade.. but Devon Tower is not one of the things I'm even remotely critical about, like C2S for example, where I've been one of the main antagonists. A Daily Oklahoman columnist actually wrote, "'Core to Shore sucks.' Nick Roberts' words, not mine." I've even been on TV for trying to shake up the city council when it comes to public transit.. so I'm just saying it's not like I'm some ignorant, blissful yesman that doesn't get out enough.

I know what OKC's problems are and I have well-developed theories on how to fix them.. but Devon Tower is not a problem, it's a massive gift from God in my opinion.

Not surprisingly, it sounds like you take yourself way too seriously in real life as well.

I'm hearing rumors that the Devon towers height is being reduced to 908 ft! that is 17 feet shorter than the 925 ft orig.height!

I'm hearing rumors that the Devon towers height is being reduced to 908 ft! that is 17 feet shorter than the 925 ft orig.height!

Well, f***! just forget the whole thing then.

On second thought, this should cheer the folks who worry that the tower will be grossly out-of-proportion to the existing skyline. 908 ft. is rather squatty by comparison.

I'm hearing rumors that the Devon towers height is being reduced to 908 ft! that is 17 feet shorter than the 925 ft orig.height!

God dammit now it won't be taller than Dallas.. now what will we do? At least I'm sure it will be a lot fatter though. I mean, this is Oklahoma..

Well, looks like I was right, have said all along the original plans would be reduced. Hopefully SRG still refers to it as a 1,000 footer though.

Here is a story about the reduction.

From 54 floors to 50.

From 15 feet per floor to 14'8".

Depending on what they do with the top, looks like it will be closer to 850'. Still about 100 feet too tall, but they are getting there.

http://www.newsok.com/devon-shortens-plans-for-tower/article/3393122?custom_click=lead_story_title

Man, this is sad news... Although, about 2 years ago we would have leaped in the air for a 500, 600, or 700 foot tower, now I feel let down that it might not be 900. The only published height recently other than the 925' was 908' in an article last week.

It's best to not think of it as a scaledown in the overall scheme of things... The tower itself will be smaller, but the lost 4 floors will be built in space elsewhere in OKC (near the airport apparently) because they were a data center which Devon wants in a separate facility for security. There will be the same number of facilities, it's just that they made the tower more efficient I guess.

I'm not surprised, I've been saying this would happen from the beginning, it's smart by Devon if you think about it.
Classof, no I didn't mean that it would destroy the CBD. I was questioning the possibility of that outcome more than stating it, because we know how much space will be vacated... a lot.
And I think that the initial proposal was very rushed, we should have all known from the beginning that 925 feet was simply too much, imho. Bringing it down to the 800s range makes more sense and will work out much better I think for Devon and OKC.

Cashville, your rainbow pony filled dreams are coming true...kind of. It got a height reduction, happy now?

New height apparently confirmed at 850', but I guess what does the extra 75' matter, other than being taller than Dallas and more than 900'. It will still be dang tall. A little over a year ago they were saying it would be about 37 floors, so it exceeded anyone's expectations.

850' for now, from the way they are talking I would expect another height reduction.

^^ There might be another reduction to come but I doubt it will be on the scale that you are hoping. From 850' right now I'd expect them to reduce no more than 14-28 feet or so, a floor or two. Which will still put it in the 820s or 830s, still very good for Oklahoma and OKC. No reason to be bummed out OKCers, this is really smart by Devon and better for the future of OKC. And look at it this way, it won't look near as out of place as it would sitting at 925 feet. Be happy, I am.

I would say 750' or so.

With the offices moved by the airport and the discovery of more efficient floors, I would be shocked if at least 5 more floors arent removed before its all said and done.

Seems like they still have more space in the reduced version than they thought they had in the original, and plan on putting less people in them.

architect5311 on OKCtalk.com posted these Sketchup models showing the reduction:

http://i278.photobucket.com/albums/kk92/gandjdunlap/DEVONTOWER-Redux.jpg

http://i278.photobucket.com/albums/kk92/gandjdunlap/1-southelevation.jpg

It's not that big of an impact on the look of the building, and it's still probably the most impressive construction project in the country at almost 2 million sf.

This shows how impressive this will be in the OKC skyline even if it were reduced 150 more ft. it still would, It is a truly massive tower for OKC, and Oklahoma! const. starts in about 3 weeks!!!

Can we get a mod to change the tower measurements? Should be 850 ft and 50 fl. Thanks


So how long will this cut off the total construction time? A couple months? I mean it is 75 feet so it should be noticed a little bit.

The construction site for the Devon tower is now coming alive! Sheridan is completely blocked off with concrete baracades and orange cones everywhere! under 1 week till const. starts!!!!!1

Fantastic! best new highrise going up in the US, IMO.

Can we get a mod to change the tower measurements? Should be 850 ft and 50 fl. Thanks


So how long will this cut off the total construction time? A couple months? I mean it is 75 feet so it should be noticed a little bit.

I am not sure if it is 850 now or 900..I have heard both. Or somewhere in between.

Well it's 4 stories shorter, surely it wouldn't be 900?

And I drove by the site today, briefly. It's blocked off and they've got the backhoes and a little dirt moved maybe from tearing out sidewalk it looked like, etc. Just as dmoor said.

This must be like a dagger through Cashville's heart to see construction beginning.

^ Nope, I dont obsess over OKC like you do over me.

^ Nope, I dont obsess over OKC like you do over me.

HA! it's not like I have to go out of my way to find you. All I have to do is look for good news for OKC and there you'll be, ready to poop on it.

Well it's 4 stories shorter, surely it wouldn't be 900?

And I drove by the site today, briefly. It's blocked off and they've got the backhoes and a little dirt moved maybe from tearing out sidewalk it looked like, etc. Just as dmoor said.

Well I agree. Being 4 stories shorter, I would think it would be more than 25 feet off, yet I do not think it would be 75 feet off..

925'/54 = approximately 17.25'
17.25' x 4 = 69'

Not precise because lobby heights on ground floors and upper floor offices can be taller than the bulk of the tower in some designs. But without any major architectural alterations it should be in the neighborhood of a 60' - 70' difference.

^^ Yea because there has not been any announced changes in anything below the top 4 stories. The atrium and everything is the same.

And Cashville you have things backwards, it's you who obsesses, not Dale. I guess your tiny little brain can't process things correctly can it?

No, I push buttons, don't obsess.

Its others who seem to want to mention me in every thread and take things personal. Some people cant differentiate between the real life and the internet. Its like everybody becomes a woman when they log onto a computer.

925'/54 = approximately 17.25'
17.25' x 4 = 69'

Not precise because lobby heights on ground floors and upper floor offices can be taller than the bulk of the tower in some designs. But without any major architectural alterations it should be in the neighborhood of a 60' - 70' difference.

Well the floors that were taken out were supposed to be the data center because they decided they wanted the data center to be removed to an off-site location on Airport Rd where they already have a smaller data center they just built. The atrium is disproportionately huge to the rest of the tower as well, obviously. They wanted to make a statement with the base of the tower that this truly is one of the premier skyscrapers in the nation.

Groundbreaking ceremony happened today.

http://dougdawg.blogspot.com
http://i8.photobucket.com/albums/a49/DougLoudenback/devon_tower/devongroundbreaking1.jpg

http://okcreview.com
http://www.okcreview.com/userfiles/image/DevonGB4.jpg

Has anyone emailed the developers or the architects and asked for an official height?

Has anyone emailed the developers or the architects and asked for an official height?

I'm hoping that the round of newspaper articles tomorrow about the groundbreaking will have updated interviews with the architect with an official height. We know it's not 925 anymore, but it is unclear whether it is 908 or 850, both of which have been reported. I tend to think it'll be 850, because they removed 4 floors and lowered floor heights.

congrats OKC - NICE tower!

I'm hoping that the round of newspaper articles tomorrow about the groundbreaking will have updated interviews with the architect with an official height. We know it's not 925 anymore, but it is unclear whether it is 908 or 850, both of which have been reported. I tend to think it'll be 850, because they removed 4 floors and lowered floor heights.

Cool. Keep us up to date.

Articles written today said 850' and 50 stories.

Site prep!

http://i284.photobucket.com/albums/ll14/Platemaker_photos/Devon100709a.jpg

So is it too late for Austin to offer incentives to get Devon to move here, and build this tower in our downtown instead?:jk:

Congratulations OKC! This is going to be a great tower.

So is it too late for Austin to offer incentives to get Devon to move here, and build this tower in our downtown instead?:jk:

Congratulations OKC! This is going to be a great tower.

^^^^hell no! Austin has enough new towers!LOL

Day 1
http://blog.newsok.com/okccentral/files/2009/10/day1.jpg

Day 2
http://blog.newsok.com/okccentral/files/2009/10/Devon100809b.jpg

You all will like this..
Lead architect Jon Pickard confirmed the Devon tower "groundbreaking” may be alone among skyscraper projects being launched in 2009. Construction crews began setting up late last week.

"This is unique,” Pickard said. "This is it."

http://newsok.com/tower-construction-start-is-drawing-close-at-devon/article/3406910?custom_click=lead_story_title#ixzz0TW3ETYco

(shock) How could a noted architect lie like that?!?

Photos from members of OKCTalk.com
Tower Site

http://i284.photobucket.com/albums/ll14/Platemaker_photos/devon102209c.jpg

http://cdn.cloudfiles.mosso.com/c54102/app839551255626658.jpg

Parking garage expansion

http://www.okctalk.com/attachments/okc-metro-area-talk/360d1256147074-devon-tower-officially-under-construction-photo.jpg

OKC is really starting to move into its own, and this grand new landmark will be an important part of its progressive new identity.

I agree with krazeeboi. Just to put it into terms of OKC in the press this month alone, with several national rankings coming out..

Nation's lowest unemployment rate, CNN ranked us #1 among large metros for starting a new business, BusinessWeek ranked us the #3 best place to put your money, and in an area we used to rank at the bottom of (intelligence) we recently ranked as the #35th smartest city (out of 55)..drastic improvement.

Obviously OKC is sort of a rising star at the moment. I know Cashville would argue the opposite somehow, but the fact that OKC is booming right now is pretty tough to dispute if you look at the economy, downtown projects, new cultural additions, and compare it to what's going on in other places in the nation.

I wouldnt say OKC is booming, to borrow a term from the world of finance it is a low risk/low reward type of city. It looks ok right now because of the recession going on elsewhere and the OKC economy is somewhat stable. But when the national economy picks up other cities will will start doing better and OKC will remain basically the same.

Actually when the national economy picks up I look forward to even more investors taking advantage of OKC's stable market.. more of the big center city proposals will make it past the proposal phase once credit thaws. Right now companies aren't relocating HQs, despite OKC making several plays at potential moves. That will also yield a lot more results once the economy improves.

A recent Chamber study found that post-MAPS investment in Downtown OKC is approaching $5 billion. That's a return of $5 billion on $360 million that the taxpayers put down mostly during the late 90s. Now OKC is fixing to embark on MAPS 3 -- $777 million including a new convention center, streetcar system, a central park, and the Oklahoma River -- if MAPS 1 yielded a 14-fold return on investment, it's impossible to imagine how the MAPS 3 package will further transform OKC. So when you say "low risk, low reward" that's not necessarily accurate..there was huge risk in the beginning, but how that risk has been eroded after a decade of strong success with pretty much everything in Central Oklahoma. And we've already seen huge reward, as well.

Lets see this study, and show everybody exactly where this $5 billion is being invested.

I will also change my low risk/low reward to high risk/low reward because of the lack of diversity in the OKC economy.

http://www.okcchamber.com/index.asp

Front page, like the third or fourth slide after the Fortune ranking and Schmoozapalooza.

"MAPS related investment to reach $5 billion" is the headline.

I hope you are not naive enough to realize that the 'Greater Oklahoma City Chamber' is nothing more than a sunshine pumping organization that is basically around to promote the mayors agenda for the city (hence the Vote Yes for MAPS link on the left hand side) and any study they do should be taken with a huge grain of salt.

That $5 billion that put out is highly subjective and does not take into account the initial cost of the project, the cost of running the facilities, and the fact that a lot of that money has just been diverted from other establishments around the city.

Then their is a huge list of developments that the chamber determined were directly caused by MAPS (basically they were built after maps so maps must be the reason for their existence).

So sorry, when an independent organization without an agenda does a study let me know.

Ok, just briefly looked at the executive summary link in the article and found this:

"These projects (including the MAPS projects) total about $3.1 billion since the original MAPS vote in 1995. An additional $1.9 billion has been announced,"

So basically they are counting all the MAPS projects as an 'investment' that was paid for by tax dollars. So this original $360 million counts towards the $5 billion they are promoting? Lets get real here.

Without or without the $365 million included, they are still approaching $5 billion. Basically, it's irrelevant, but it makes it look slightly more impressive I guess.

Without or without the $365 million included


Plus the other 2 MAPS and the arena renovation because it was not adequate from the original.

The $5 billion is just a way to trick the uninformed and make them think all the taxes they have already paid was some other investment. Obviously it has worked, so good for them.

I hope you are not naive enough to realize that the 'Greater Oklahoma City Chamber' is nothing more than a sunshine pumping organization that is basically around to promote the mayors agenda for the city (hence the Vote Yes for MAPS link on the left hand side) and any study they do should be taken with a huge grain of salt.

Well we already take everything you have to say about OKC with a grain of salt. The reason: you irrationally hate OKC. Thus, everything you said is discredited. The OKC Chamber however has a vested interest and actual leaders rely on an accurate analysis from them. As for them promoting the mayors agenda, honestly we all feel like it's the other way around. So, something else you've got wrong.

That $5 billion that put out is highly subjective and does not take into account the initial cost of the project, the cost of running the facilities, and the fact that a lot of that money has just been diverted from other establishments around the city.

?? Bricktown Ballpark, Cox Convention Center, and Ford Center all support themselves. Their operation is leased out to operators, who along with the City, make a profit on operating those facilities that all stay pretty busy with events. Not a week goes by that there aren't several events at each of those facilities.

Then their is a huge list of developments

I think you mean "there."

So you are that naive, a biased report is a biased report and in turn absolutely worthless. They have a Vote Yes for MAPS section on their website, and just because you 'feel' one way doesn't mean a whole lot, the website speaks for itself.

Supporting themselves is one thing, but there is still an initial cost and operating cost, I am positive that was not deducted from the $5 billion number. How do I know that? They actually added the initial cost of the projects to the $5 billion, says so right in the report.

And when you have to go to grammatical mistakes on message boards that is when its obvious you don't have anything to bring to the table. But if it makes you feel better in your little world of insecurity then roll with it.

And when you have to go to grammatical mistakes on message boards that is when its obvious you don't have anything to bring to the table. But if it makes you feel better in your little world of insecurity then roll with it.

Just so you know, you shouldn't begin a sentence with 'but.'

This is actually comical....please don't let this question interrupt anything.

Is that entire parking garage going down? It appears as if they are trying to save part of it. I would hate to see the gem bud up against something like that, not to mention is is not nearly the size needed for a tower of this size.

Well there are two parking garages in that pic. One is an underground garage that will be completely gone before groundbreaking, and the other is a 5-story garage that will be expanded to 10 stories for Devon. The site will be a contiguous application of new uses: expanded parking garage, auditorium, plaza, street-retail, Devon Tower, as well as a connector addition to a nearby 100-yr old boutique hotel.

Ok, if SRG wants to play that game here we go.

Actually when the national economy picks up I look forward to even more investors taking advantage of OKC's stable market.. more of the big center city proposals will make it past the proposal phase once credit thaws.

Now OKC is fixing to embark on MAPS 3 -- $777 million including a new convention center, streetcar system, a central park, and the Oklahoma River -- if MAPS 1 yielded a 14-fold return on investment, it's impossible to imagine how the MAPS 3 package will further transform OKC.

So when you say "low risk, low reward" that's not necessarily accurate..there was huge risk in the beginning, but how that risk has been eroded after a decade of strong success with pretty much everything in Central Oklahoma.

And we've already seen huge reward, as well.

Lets all take note of the run on sentences, with terrible punctuation.

Lets also take note of starting sentences with 'So' and "And' which are both conjunctions just like 'But.'

Now this is a good one, I corrected you on a thread earlier about the use of the word 'through' instead of 'throw' in the following thread.

http://www.skyscrapercity.com/showthread.php?t=955698&page=2

But if you through in Oklahoma with Texas suddenly you have a pretty active forum. OKC has a lot of forumers/interest on this site, not to mention a lot of trolls with a bizarre hatred of OKC who routinely turn OKC threads into shitshows.

I was going back to see if you responded (of course not), and after further analysis it seems that you started your post with the word 'But.'

At this point you should really save face and just admit that you re not intelligent enough to correct people on their use of the English language.

Ok, if SRG wants to play that game here we go.



Lets all take note of the run on sentences, with terrible punctuation.

Lets also take note of starting sentences with 'So' and "And' which are both conjunctions just like 'But.'

Do you want me to correct these typos too?

I mean, the reason I would rather talk about your typos is because there is absolutely no point in actually discussing any topic at hand with you. It's also easier and less annoying (for me at least).

I don't care what you do. This is a message board, not English class, the next time I care about my typos/grammar will be the first time.

You should try going out and getting laid every once in a while, then maybe you wouldn't be so uptight all the time.

How did YOU know about my drought?!?!

Play nice kiddies!

http://www.okctalk.com/images/pete/devon/devon1103098.jpg

http://www.okctalk.com/images/pete/devon/devon1103095.jpg

http://www.okctalk.com/images/pete/devon/devon1103091.jpg

shouldn't this thread be renamed now, from APPROVED to U/C or at least SITE PREP?

shouldn't we be consistent, at least. I mean, the tower is under construction after all.

That and the height and fls need to be changed. Thanks for the update Shane. It's nice to see something actually related to the thread rather than seeing SRG and Cashville bicker like little school girls, it gets real old. I'm pretty sure they're just doing it for the attention now.

I'm not sure whether I'm more excited about this tower or the roughly gazillion dollars of streetscaping OKC's about to embark upon. The town is going to be unrecognizable in three years.

Yeah what's astonishing is how fast the streetscape planning is moving. And I hate these design-by-committee projects where a faction is always pushing for what's cheapest, another faction is always pushing for what suits their corporate interest, and another faction is always pushing for what they believe to be the latest national trend.

That and the height and fls need to be changed. Thanks for the update Shane. It's nice to see something actually related to the thread rather than seeing SRG and Cashville bicker like little school girls, it gets real old. I'm pretty sure they're just doing it for the attention now.

Ooh ooh look at me look at me.

http://photos.newsok.com/2/showimage/754474/gallery_photo

wow, they've moved that far already? sweet!

-

lol, it looks like the picture is just from a different vantage point.

Congrats on this tower. I bet yall can't wait for the day this building reaches 668 feet during construction huh?

LOL,now how does a person from Green Bay know that!If anyone doesnt get his post,Tulsa's and the states current tallest is the BOK tower in Tulsa standing at 667'ft tall!

They probably have the internet, its an interesting concept and you have tons of information at your fingertips. Maybe one day I will be lucky enough to have the internet.

I usually like to see whats goin on all over the place...I like skylines/architecture, I drive an 18 wheeler and travel to OK a lot.

I usually like to see whats goin on all over the place...I like skylines/architecture, I drive an 18 wheeler and travel to OK a lot.

^^Cool,I also drive a truck,not a big rig but a box truck nontheless ,I'm always on the road in other states,I also love seeing skylines from around the country! I didnt mean anything negative from mypost earlier I was just suprised someone f/ out of oklahoma knew that info!but yeah this tower is going to be a monster!!!

^^ lol yea i knew you weren't being negative or anythin...

Simulated Google Earth views of Devon Tower:

From Medical District:

http://www.rezoneokc.com/blog/wp-content/uploads/2009/11/devon1.jpg

From Bricktown:

http://www.rezoneokc.com/blog/wp-content/uploads/2009/11/devon2.jpg

Over West Downtown:

http://www.rezoneokc.com/blog/wp-content/uploads/2009/11/devon4.jpg

From Midtown

http://www.rezoneokc.com/blog/wp-content/uploads/2009/11/devon5.jpg

And from Automobile Alley

http://www.rezoneokc.com/blog/wp-content/uploads/2009/11/devon6.jpg

I actually kind of like it.

The thing I can appreciate about OKC's skyline is that we don't have an interstate system that wraps around our downtown on all sides like Tulsa, Dallas, Houston, San Antonio, Kansas City, St. Louis, and a lot of other cities. In fact on the side that a freeway does define a border of downtown, we're moving the freeway so that it no longer defined any sort of border. We have a downtown without borders, that isn't cut off from circulation with the rest of the city by interstates.

The point I'm getting at is that should other supertalls crop up along with Devon like what has happened after almost every city has gotten its first supertall (ie Minneapolis, Dallas, Denver, etc) it will feel like a different effect. It's easy to admire a row of supertalls like downtown Dallas from a ring freeway, but here there's a city in front of the skyline. So it's a different effect, and I like it.

http://www.rezoneokc.com/blog/wp-content/uploads/2009/11/devon2.jpg

Belated congrats I guess, didn't know they added height to make it a supertall.

^^ I explained further back that this is not a supertall. In fact none of those cities mentioned have supertalls...

Well by definition SRG OKC,Dallas,Minne,and Denver all do not have supertall's! A supertall by def. is atleast 300M and 1,000ft!

^^Precisely. only five cities in the US have supertalls.

NYC
Chicago
Atlanta
L.A.
Houston

Thats it. And the bottom three just barely inch by.

Atlanta crosses the 1,000' mark by only by 23', L.A. by 18', and Houston by only 2'.

It is very unlike SRG to exaggerate things, I have to think he has info that this will indeed be a 1,000 footer.

Ok..

Parking garage about to rise!

http://i724.photobucket.com/albums/ww242/luckynedpepper/Nov242009-b.jpg

Lots of equipment.

http://i724.photobucket.com/albums/ww242/luckynedpepper/Nov242009-a.jpg

No pictures in a while---

Here is an image from OKCTalk's webcam from this afternoon, the garage construction looks like it's going really fast. They are adding 5 floors, plus adding retail space and expanding one side of the garage horizontally.

http://img.photobucket.com/albums/v321/eyeblink/devon-1.jpg

A reliable source tells me to expect the tower to come out of the ground on Jan. 1 or so and go up 4 floors a week.

Wow that will be cool. So I might get to see the first 4 floors of it while I'm in town.

Any chance they'll reclad the Chase Tower in the next few years ? It's going to look like a turd next to Devon.

No way. The guy who owns it is insane. In fact he lives on a ranch out in Western OK I think..

No way. The guy who owns it is insane. In fact he lives on a ranch out in Western OK I think..

No he lives near San Antonio. And the only way he reclads it is if he gets to engrave his face in the side of the building.

what are these properties in the background surrounding the site? Are the preserved as historic, institutional or parkland?

It'd be nice to see a couple midrises there to avoid a sudden dropoff kind of effect.

Ian, in the background to the south is the Myriad Gardens, which is getting an overhaul. The site is also surrounded by historic low-rise and mid-rise buildings to the west that should be preserved. However everything west of the stuff that should be preserved, and south of the Myriad Gardens can go. The plan is to redevelop all of it. Some more high-rise development will likely occur just south of the gardens and wherever the $280 million convention center is going to go.

No he lives near San Antonio. And the only way he reclads it is if he gets to engrave his face in the side of the building.

The Oklahoman's Steve Lackmeyer says that prospective firms are already hovering over and looking to fill the space that Devon vacates when the tower is completed.

Looks like the doomsayers are going to be wrong - again.

Here's a crash course on the history of OKC economics and why Devon isn't going to collapse any time soon. More than half of the current office space on the market was built during the 1980s (granted everything predating 1950 was demo'd in the 70s). OKC has never had a problem with overdevelopment, it has always been underdeveloped..development practices have always been too damn conservative. Despite the vast square miles of sprawl under development at any given time, the ratio of in migration to new homes being built is always low, like 2 new homes for every 1 new resident. Even in the 80s development was conservative because it literally simply followed the demand. Hard to grow a whole lot when you're development is so conservative, compare to DFW which has one new house under construction for every .25 new residents

In the 1980s there was this bank called Penn Square Bank which began with one office inside Penn Square in OKC and a mere $2.5 million assets in 1975. They became a major bank overnight for lending to the oil industry and by 1981 their assets had topped $700 million (6 years difference). It was so easy to get a loan if you were chummy with lending chief Bill Patterson that you literally just had to sign for it and then you got your millions. Patterson was known as a swashbuckler who thought oil would always go up in price and he was known across town for drinking beer out of cowboy hats, wearing Mickey Mouse suits and beanies to work, and starting food fights in upscale downtown clubs and restaurants that you just don't do that in. This is the guy who would lend millions to anyone in OKC who could point to a spot on the ground to drill a hole into.

The story goes, one time Larry Nichols ran into a friend of his on the streets of downtown who just got a $1 million loan to buy a drilling rig. The friend of his had failed at 15 businesses before, which convinced Nichols that a crash was imminent. Nichols sold off all of his company's assets in the Deep Anadarko Bason to 6 different companies for $5,000 an acre--an incredibly rich deal, right before the crash hit.

The amount of money flowing into OKC was unreal during the late 70s and early 80s. In 82 the Comptroller of the Currency shutdown Penn Square Bank and it caused a panic in the entire financial industry, and yes, there were "bailouts" -- which are hardly a new concept. Not a single OKC bank was the benefactor of a bailout though, they just got shut down by the govt here..

Today, there is nobody who drinks beer out of cowboy hats and wears Mickey Mouse suits to the office issuing multimillion dollar loans in OKC. So people are right when they say that OKC has fallen before, but come on, look at what caused it in the past. And even today there's still a lot of insulation from the recession. If you compare recent govt revenues the picture is even not that bad, with the recession only just now affecting state revenues (as opposed to everyone else that got smacked last year). Development is still going on in OKC, too. Life goes on. Maybe everything has been frozen and employment is near 20% in certain states, but that's not ever going to happen here. Devon is strong, Devon Tower will be strong, the downtown office market is still rising in occupancy, downtown is still moving forward, and everything is still on track. Slower pace, yeah, but still moving forward.

Awesome tower! Can't wait to see it rise. :yes:

Recent pics..

http://4.bp.blogspot.com/_L3gtvb8usg4/Sy68M6H0O5I/AAAAAAAAASw/OlIsRFf8SGY/s320/IMG01070.JPG

http://4.bp.blogspot.com/_L3gtvb8usg4/Sy68MvzZebI/AAAAAAAAASo/N7NPChPAk9E/s320/IMG01069.JPG

http://4.bp.blogspot.com/_L3gtvb8usg4/Sy7DNUJO9uI/AAAAAAAAATA/8SBSSytKbOE/s320/IMG00997.JPG

^^ Cool. OKC is so fortunate to have such an awesome addition coming to town. :yes:
It will make the city proud when it's finished, I'm sure.

Maybe OKC can get a company (or two) in a different industry than oil and gas though to fill the 900,000 sq. ft. of vacated space when the time comes. It'd be a nice change and OKC wouldn't be so reliant on these energy companies, not that anything is bad with that of course.

Tower Crane went up yesterday... piers are showing out of the ground... lots of action going on 24/7 check out http://www.okctalk.com/okc-metro-area-talk/ for more info

Some construction pics.

Taken on my phone this week, note the four big cranes:
http://4.bp.blogspot.com/_L3gtvb8usg4/S_LmriL5MWI/AAAAAAAAAmY/GrVNo9g1CaU/s400/IMG01232.JPG

Some high-res pics taken by a poster on OKC Talk.
http://farm4.static.flickr.com/3329/4627581551_a4dfe1073f_b.jpg

http://farm5.static.flickr.com/4011/4628183162_49284ea67d_b.jpg

A reliable source tells me to expect the tower to come out of the ground on Jan. 1 or so and go up 4 floors a week.

Wow, they are way behind schedule according to this guys "source".:wallbash:

http://img716.imageshack.us/img716/7874/devonconstruction630201.png

It's rising!!! I can't wait to see this thing!

Here's some July 8 construction update photos from DelCamino at OKC Talk.

http://i724.photobucket.com/albums/ww242/luckynedpepper/July82010-a.jpg
http://i724.photobucket.com/albums/ww242/luckynedpepper/July82010-b.jpg
http://i724.photobucket.com/albums/ww242/luckynedpepper/July82010-f.jpg
http://i724.photobucket.com/albums/ww242/luckynedpepper/July82010-c.jpg

The new 10-story garage is mostly finished, and Devon is going to begin moving their workers into it within the next month--they're working on the Hudson Ave right now in front of it in preparation, although it will soon be completely redone in the next 36 months like all the other downtown streets. In front of the tower that is going up in the last pic you can see where they are laying the foundation for the Amphitheater.

You can also see how the once meticulously-landscaped Myriad Gardens is getting a total makeover. For me, having spent a lot of lazy afternoons enjoying the Myriad grounds, the abruptness of all the dirt work and clearing all the trees is still pretty shocking. It will be a much-improved downtown park at the end of the reconstruction.

The Devon Tower will rise One floor every eight day's now!http://newsok.com/devon-tower-construction/multimedia/video/292303205001

Starting to look real good. Looking forward to checking in on this every so often to see how it continues to progress. More pictures are always good! :)

Starting to look real good. Looking forward to checking in on this every so often to see how it continues to progress. More pictures are always good! :)

anytime you want a peek just click on this!http://www.okctalk.com/showthread.php?t=19584&page=1