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March 05, 2021, 06:58:59 am
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Author Topic: Santa Fe Square on the big surface parking lot in the Blue Dome...  (Read 67719 times)
DTowner
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« Reply #210 on: February 05, 2021, 12:57:50 pm »

Last I heard the office portion, which was supposed to be Phase 2 after the hotel, was on hold due to needing a certain amount of space leased.  The rumor was that Laredo Petroleum was going to take a big chunk of space then decided to stay put in the BofA Tower.  Then potentially WeWork was looking at it but we know what a mess they're currently in.   

Santa Fe is pretty aggressively marketing itself to downtown tenants with soon-to-be expiring leases (mine included).  They still need more commitments to break ground.  The problem is they are now competing with WPX who has a 1/2 built building underway.
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« Reply #211 on: February 07, 2021, 05:39:59 pm »

Santa Fe is pretty aggressively marketing itself to downtown tenants with soon-to-be expiring leases (mine included).  They still need more commitments to break ground.  The problem is they are now competing with WPX who has a 1/2 built building underway.

Yeah we need WPX to snag a big tenant then Santa Fe Square can get moving.
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LandArchPoke
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« Reply #212 on: February 08, 2021, 07:35:59 pm »

Yeah we need WPX to snag a big tenant then Santa Fe Square can get moving.

There's also GreenArch office building - I think they're building it 100% spec. Wonder if anyone has heard anything about if they have an anchor tenant or not.

My bet is Santa Fe Square's office portion is a while away barring some big announcement/expansion.

Anyone know anything about the TIF that was approved for Santa Fe Square? I'm curious if any funds have been dispersed to them yet or not and if there was any requirements put on by the city for them to build a certain amount on the site to qualify for it (most likely not, doesn't seem like the city ever tries to make people build what they promise when utilizing public money)

I was hopeful they were closer to breaking ground on the garage and other stuff back when they kicked the Blue Dome Arts Festive off the site. Kind of a bummer they did that and now have still yet to break ground on much of anything.
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Rattle Trap
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« Reply #213 on: February 09, 2021, 11:26:25 am »

Yeah we need WPX to snag a big tenant then Santa Fe Square can get moving.

Heard some conflicting information, not sure which is correct. Hearing there's a tenant seriously interested in either the WPX building, or the Santa Fe building. Given that the WPX building is currently under construction and the Santa Fe development hasn't broken ground, I would assume they meant the WPX building.
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« Reply #214 on: February 09, 2021, 03:31:08 pm »

Heard some conflicting information, not sure which is correct. Hearing there's a tenant seriously interested in either the WPX building, or the Santa Fe building. Given that the WPX building is currently under construction and the Santa Fe development hasn't broken ground, I would assume they meant the WPX building.

The WPX building is the linchpin for Santa Fe Square.  Not only for the office space but the residential as well.  I would say the Annex is also tied to both of these developments.  Exciting time for downtown if all these projects are able to get started.
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LandArchPoke
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« Reply #215 on: February 09, 2021, 06:53:28 pm »

Heard some conflicting information, not sure which is correct. Hearing there's a tenant seriously interested in either the WPX building, or the Santa Fe building. Given that the WPX building is currently under construction and the Santa Fe development hasn't broken ground, I would assume they meant the WPX building.

Might depend too on lease expiration if it is a local company. Given the size of the Santa Fe office building they could probably break ground quickly and get it built within 48 months. So if the tenant is looking for something at the end of a lease and relocation they might be looking at both and just seeing which one makes better financial sense. I'm betting if Devon ends up leasing that building it will be in the $30 per sq. ft. range and I believe Santa Fe they are proposing someone around $22-25 per sq. ft. They were originally asking in the $30 sq. ft. range and once they moved the office portion back along Greenwood and cheapened up the look of it from the new renderings they dropped the asking rent range down.

The WPX building is the linchpin for Santa Fe Square.  Not only for the office space but the residential as well.  I would say the Annex is also tied to both of these developments.  Exciting time for downtown if all these projects are able to get started.

I've been wondering about the Annex. I'm betting if they're still moving forward that Reasor's is waiting for things to calm down with COVID before breaking ground on a new store. Really with those two holes of parking lots filled in the entire downtown will feel a lot more cohesive with the View, Vast, GreenArch, etc. all done. The last thing I had heard about the Annex was they were seeking approval from the State of Oklahoma to capture the states portion of sale taxes... essentially what a TIF would do from the city. I assumed that passed but never heard anything about it or much about the project after that. I think they were seeking that in 2019 so it was at least over a year ago. I believe an AC Hotel was going to be part of the project too with the residential tower becoming slimmer and more vertical to accommodate the hotel along the west quarter of the block. I'm sure most hotel operators are not super eager to break ground on new projects yet either.
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