New Hampton Inn & Suites to be built just east of BOK Center at "One Place"

[TulsaGoldenHurriCAN]

http://www.tulsaworld.com/news/local/new-hampton-inn-suites-to-be-built-just-east-of/article_d6e74d29-1dff-5e2b-b3f0-6ea97786d9e1.html

Physical development on the planned Hampton Inn & Suites at the One Place development just east of the BOK Center will soon break ground.
The nine-story, 125-room hotel will be constructed by Promise Hotels at a cost of $17.3 million, and will be finished by the end of 2016.
The construction site at the northwest corner of Third and Cheyenne is now surrounded by fencing in preparation for construction.
Thursday’s construction announcement included speakers Mayor Dewey Bartlett; Mike Neal, president and CEO of the Tulsa Chamber; and Ray Hoyt, President of VisitTulsa.
Promise Hotels is in the process of developing two other hotel projects in downtown Tulsa. One is a $15 million to $16 million, 105-room Holiday Inn Express planned for the southeast corner of Archer Street and Detroit Avenue.

That hotel is now set for 105 rooms and a mid to late-summer construction start date, said, Pete Patel, CEO of Promise Hotels. Because it’s a smaller project, construction will go somewhat faster than the Hampton Inn & Suites.
Promise Hotels also announced a $20 million, 134-room Hilton Garden Inn that will wrap around the Oil & Gas Journal building on the southeast corner of Second Street and Cheyenne Avenue.
Physical development on those two hotels has not yet begun.
One Place is a block-sized development that also includes the 17-story One Place Tower occupied by Cimarex Energy Co., and the adjacent, five-story Northwestern Mutual building. Both buildings have retail space on the bottom.
The Hampton Inn announcement follows several other recent announcements of developments in a revitalized Tulsa downtown.
A development dubbed "The Boxyard" was unveiled a month ago for construction at Third Street and Frankfort Avenue. The concept is to stack large cargo containers next to each other and create a retail-oriented environment, along with a few small restaurants and service providers.
Housing projects also are on the way:
The Edge at East Village, a $26 million 162-unit development at 215 S. Greenwood.
The View, a $25 million to $30 million 200-unit development on the southeast corner of Archer Street and Elgin Avenue.
Davenport Urban Lofts, a 24-unit development at 405 N. Main St.
Coliseum Apartments, a 36-unit development at 635 S. Elgin Ave.
Harrington Apartments, a 24-unit development at Eighth and Main Streets.
Additionally, John and Stuart Price of KPM Management have announced they intend to develop 183 units in the TransOK Building at 2 W. Sixth St., the 111 W. Fifth Building and the Adams Building at 403 S. Cheyenne Ave.
Several hotel projects also have focused on downtown.

[TulsaGoldenHurriCAN]

Lots of new hotels planned downtown. I wonder if they will just siphon business from other parts of town (all the power to them, especially taking in guests who might stay at the BA/I44 interchange) or create new business which otherwise wouldn't come to Tulsa. They will certainly have to compete with each other and existing hotels already downtown. Does anyone have numbers for occupancy rates for any hotels downtown? I

Obviously this would be a great location for people coming in town to go to the BOK center. It is much better use of the parking lot that exists there currently.

[TulsaGoldenHurriCAN]

I wanted to add there are currently 9 hotels downtown (including the Ambasador) and another 7 in development based on the link in the above article to the previous new downtown hotel announcement:

http://www.tulsaworld.com/news/downtown/yet-another-new-downtown-tulsa-hotel-planned-this-time-near/article_bfcef537-a412-54a2-b211-7a0255d0efe8.html

So after 2016/2017 there will be 16 downtown hotels plus a bed-n-breakfast, not to mention the dozens of Airbnbs in and  around the IDL. I wonder if demand will keep up. I certainly hope so.

[carltonplace]

a study conducted by the chamber in 2007 suggested that a city of Tulsa's size needs between 1,800 and 2,000 rooms to fully accommodate events held here, especially with the events held at the BOK Center and Tulsa Convention Center.

We still haven't even made it to this level.

[Oil Capital]

a study conducted by the chamber in 2007 suggested that a city of Tulsa's size needs between 1,800 and 2,000 rooms to fully accommodate events held here, especially with the events held at the BOK Center and Tulsa Convention Center.

We still haven't even made it to this level.

With just some of these new ones currently under development, we will exceed 2,000 rooms.  (I'm apparently missing several hotels from the following list and I'm already above 2,000 room.

Courtyard          119
Aloft                  180
Ambassador         55
Fairfield            80
Holiday Inn           220
Hyatt Regency    454
Mayo                   102
Best Western     79
Doubletree           417
Hampton Inn   125
Holiday Inn Exp   105
Garden Inn           134   

                  2070

[TulsaGoldenHurriCAN]

With just some of these new ones currently under development, we will exceed 2,000 rooms.  (I'm apparently missing several hotels from the following list and I'm already above 2,000 room.

Courtyard          119
Aloft                  180
Ambassador         55
Fairfield            80
Holiday Inn           220
Hyatt Regency    454
Mayo                   102
Best Western     79
Doubletree           417
Hampton Inn   125
Holiday Inn Exp   105
Garden Inn           134   

                  2070

Was that study meaning that downtown needs 1,800-2,000 rooms? Because there are far more than 2,000 rooms already at the dozens of hotels around the city.

It looks like downtown will have maybe 2,500+ rooms when all is said and done. I wonder if they redid the study now with increased activity downtown, if Tulsa could support more hotel rooms.

Based on what I've seen there are far too many hotels being developed and far too few condos. If Tulsa downtown really wants to take off, it needs citizens with an ownership of downtown. And affordable places. Not just price ranges of $200k for 1000ft2 or $500k for 1800ft2. There need to be condos people with a relatively common salary (50k-90k) can afford. Just about any other major city has far more condos downtown than Tulsa. Central Park condos are old and not what I'm talking about either. More like the GreenArch but with buyable condos.

People who buy condos will take an ownership of neighborhoods and fight for a more walkable community. A mortgage is a much bigger commitment than a year lease. Until you have homeowners populating downtown, I don't see things like grocery stores or a huge uptick in retail being feasible. Look at how awesome Decopolis, Dwelling Spaces and Made are. That is how incredible you have to make a store to survive in downtown. Very few people can manage places like that. I've seen some really neat stores open and close quickly downtown (Bison & Bear was great with a cult-following and only lasted 2 years). Then go to a places with far more foot traffic or in areas surrounded by residential and see the low quality stores which stick around for years (not necessarily Tulsa, although the malls are an example, I mean low quality stores populate the streets of many big cities, especially in walkable areas).

Adding apartments and hotels is nice. Hope more investors will see the value in condos.

[cannon_fodder]

Well, the industry group, the lenders, the city, the hotel chains, and the ownership groups all seem to think they are a good bet...so build away!  Occupy empty spaces. Rehab old buildings. Bring people downtown instead of the burbs! Stay in Tulsa when you go to the Eagles or whoever the kids see these days.

Even with the addition of 800 hotel rooms coming the group is projecting increased occupancy. According to the study, the good times are rolling:
http://www.tulsaworld.com/business/realestate/analyst-promotes-rosy-outlook-for-tulsa-s-hotel-industry/article_124a0aca-350d-5674-9e6b-d4ecdc289924.html

Tulsa's occupancy beat the national average by 5 points and was on the increase. Even with the added rooms they think demand will grow faster than supply. And the downtown segment was growing faster than anything else.

http://www.tulsaworld.com/business/retail/hotels-are-no-sleepy-business-for-the-tulsa-area/article_30ff2d8a-c48c-5cea-b6a0-22da1c19c717.html

- - -

Happy things at OnePlace are moving forward. But my question is, why is this just getting done now? I thought the original TDA requirements had a much faster timetable? Announced in 2012, fully leased and finished by 2012. Pretty drawings released of the entire development, then they paved the lot and sought extensions.

2012 working on financing:
http://www.tulsaworld.com/business/realestate/downtown-tulsa-s-one-place-project-adds-stories-with-new/article_3af7a828-88af-5407-b0c2-74afc0d984b3.html

Tower + Hotel + Residential + second floor retail!
https://www.questia.com/newspaper/1P2-29046878/taking-over-the-block-tulsa-s-one-place-center-developer

In 2013 It was going to open in early 2016. We are actually fairly close to that.
http://www.tulsaworld.com/news/local/hotel-to-be-built-at-one-place-next-to-bok/article_971ad93b-7b0a-569d-8fa6-f681c1853e1d.html

Lets not forget the original architectural renderings for the project with a park like look, walk through alleys, and a garden like courtyard "drawing people in" to the middle:




I haven't found any renderings of the current plan to finish out OnePlace, but see no mention of residential in the most recent releases.

[DowntownDan]

Haha, drawings always look great.  Then they build you a treeless bland off-white building that's 50% above ground parking garage.

[TulsaGoldenHurriCAN]

Haha, drawings always look great.  Then they build you a treeless bland off-white building that's 50% above ground parking garage.

Unfortunately accurate. They try to get investors excited. The actual One Place is pretty vanilla. Glad it is there with retail/food along the sidewalk but it is a plain looking building and nothing like the rendering. The Hamton also looks relatively plain although similar to the one in Brady so not bad, just nothing like the renderings showed what the place could be.

The park with courtyard would've been great. Too bad it'll just be another corporate hotel. But if it brings more people in it'll bring more life to downtown.