It's frustrating to see great lots stay vacant for so long. This spot is prime for development, as is the lot at 14th and Utica. But they just sit there with nothing while cheap hotels continue to expand in the south, including underneath highway ramps (ala Hwy 169 and 91st st).
Part of the reason Utica is in its current position is because it is owned by an oil company and not a real estate company. After Sr.'s death there really does seem to be nothing happening. I have very little info what has gone on lately with decisions related to this and Utica Square directly.
Part of what Oil Capital brought up about an old statement of mine a few days ago ignored all of that discussion since... at one point Utica Square was really getting its groove back it seemed. Lots of new tenants and lots of demand. Right around the time they demoed this building was the very end of that. Between oil prices collapsing, the death in the family, etc. it seems that they shifted focus elsewhere (likely toward keeping H&P from a bad fate like so many other O&G firms) and Utica Square and other real estate investments have been a side project for that family for a long time.
Hopefully they sell it to a local ownership group at some point who will treat this as a full time trophy/legacy property versus just a side business. Most likely if they end up selling it (not that there's any credible rumor I know of) it will go to a company like Simon. I really do think that would be the only short term way we'd see a big reinvestment in the center... but it will probably hobble along the way it is now for a few more years unfortunately, because it really is under utilized. I'd almost prefer it to be in the state it is now and hope for better local management in the future than have Simon or others come in and ruin it.
