According to the TW, the Atlas Life Building, a Kanbar Property, is going to be turned into a Boutique Hotel.
However the article mentions that the building contains Kokoa Kabana and once Sorannos. I thought Kokoa Kabana was in the Philcade? And didnt think Sorannos was ever in the Atlas Life Building either?
http://www.tulsaworld.com/news/article.aspx?subjectID=11&articleID=20080301_1_A1_hTheA80155
Sounds great.
It would have to be a very small hotel. And I hope the Atlas Grill can stay.
It says they were tenants for "the buildings" meaning all of Kanbar's properties.
Regional hotel magnate John Q Hammonds is big on building Marriots.. I wonder if he was the buyer
I think putting a hotel right in the middle of downtown like that is a big step, just like putting apartments in the philtower, it will show a need for retail deep in downtown and not just in the east end or brady.
[:D]
quote:
Originally posted by sgrizzle
It says they were tenants for "the buildings" meaning all of Kanbar's properties.
Regional hotel magnate John Q Hammonds is big on building Marriots.. I wonder if he was the buyer
I think putting a hotel right in the middle of downtown like that is a big step, just like putting apartments in the philtower, it will show a need for retail deep in downtown and not just in the east end or brady.
Aaah my bad, read too quickly and misunderstood. And yes I am really glad that great old building will see new life. That long hallway/lobby could acutally be done quite nicely as a Hotel Lobby. Couches, plants, nice lighting. I do hope they keep a cafe in it though. Would be nice to have even if it were a hotel. Perhaps they will put their own cafe in. Just to the left of the front entrance is a deli. I wonder if that is considered part of the Atlas Life Bldg? Also from the pic, it looks like there is a space above that deli on the roof where you could possibly put a rooftop patio/garden/break area for hotel guests.
That's so huge.
*applauds
According to the Journal Record the new owner is a local group and they will have a press conference monday.
http://www.journalrecord.com/article.cfm?recid=86710
I'm stoked!
One thing I'm concerned about, though, is the sign... I sincerely hope it isn't removed--that sign is an icon in and of itself.
Press conference at 2pm Monday.
SJS Hospitality is a great developer. Their Holiday Inn Express in Broken Arrow at Stone Wood Hills is really nice.
I'm betting that the sign will stay, it is too much a part of the building. It's not like Atlas Life is just now leaving the building. They can just ad a marriot sign or two. They may even call it "Marriot Tulsa Atlas Building" or something to that effect.
quote:
Originally posted by sgrizzle
I'm betting that the sign will stay, it is too much a part of the building. It's not like Atlas Life is just now leaving the building. They can just ad a marriot sign or two. They may even call it "Marriot Tulsa Atlas Building" or something to that effect.
I like "the Atlas Marriott" [:D]
The "Marriott Atlas" or just the "Atlass Hotel"
quote:
Originally posted by DScott28604
quote:
Originally posted by sgrizzle
I'm betting that the sign will stay, it is too much a part of the building. It's not like Atlas Life is just now leaving the building. They can just ad a marriot sign or two. They may even call it "Marriot Tulsa Atlas Building" or something to that effect.
I like "the Atlas Marriott" [:D]
Atlas Hotel by Marriott?
I hope the New Atlas Grill won't be permanently relocated....it would be a great addition to a hotel lobby.
http://www.journalrecord.com/article.cfm?recid=86710
quote:
Hotel operator acquires Tulsa Atlas Life Building
by Kirby Lee Davis
The Journal Record March 3, 2008
TULSA – Downtown Tulsa's 13-story Atlas Life Building may become a Courtyard by Marriott hotel within 18 months.
Current Edition
This could mark a welcome trend in transforming other Class C and D office structures dotting Tulsa's skyline as the 18,000-seat BOK Center construction and the Tulsa Convention Center renovation draw close, said Suzann Stewart, senior vice president of the Metro Tulsa Convention and Visitors Bureau.
"There's been some interest expressed in a couple of the other buildings," said Stewart.
SJS Hospitality LLC of Broken Arrow paid an undisclosed price for the 95,000-square-foot Atlas Life tower, SJS co-owner Jeff Hartman told building tenants, which includes the Tulsa bureau of The Journal Record. He postponed discussing further developments Friday for a press conference at 2 p.m. Monday.
"SJS's other projects are very, very good-looking products," said Mike Craddock, the Tulsa managing broker for HotelBrokerOne of Oklahoma City. "They put a lot of thought into what they do."
The Broken Arrow company operates a 42,000-square-foot Candlewood Suites just off U.S. Highway 169 on Tulsa's 71st Street retail corridor, and a 65,000-square-foot Holiday Inn Express beside the Bass Pro Shops in Broken Arrow. Hartman said the firm will complete construction on a neighboring Town Place Suites in November.
Kanbar Properties manages Atlas Life for San Francisco investor Maurice Kanbar, the creator of Skyy Vodka, who acquired it and 15 other downtown landmarks in late 2005 and early 2006 under various corporations. Kanbar's Navajo Properties LLC had paid $1.4 million for the site, according to Tulsa County Courthouse records. It transferred the building under a special warranty deed last month to Atlas Life Building LLC.
Navajo also transferred the Adams Building, Oil Capital Building, Pythian Building, Secure Agent Building and Transok Building to individual limited liability corporations, all using 68 OS (2001) Sec. 3201 to not file any document stamps.
Taking the 86-year Atlas Life from the ranks of office buildings will do little to improve Tulsa's 21.6-percent vacancy rate, or even downtown's 25.9-percent rate, said Ken Tooman, who this year completed his 20th survey of the market.
"That little building, it's not what you would call super-competitive in today's multi-tenant market downtown," he said. "But from a broad perspective, I think anything that the market does that takes those buildings that may never compete well with the office market again out of the playing field is good for downtown."
He also thought the addition of more hotel space downtown would improve the office market there.
"I think it's great to have that kind of use downtown," he said. "It speaks well of people's opinion of our use of the Central Business District."
Even with the refit needs, Stewart thought starting with the Atlas Life structure could carve six months or more off the startup time needed for such a hotel – and she welcomed the addition of suite space promised by a Courtyard by Marriott.
"I think it's a great location," said Stewart. "It's not the 500- or 600-room big property we need adjacent to the facilities, but this will certainly provide big options for us in helping us host and attract big conventions to this city. We're at a point where the two large hotels downtown can not even give us the block we need for large conventions because our occupancies are so high right now."
Tulsa's 13,000-room hospitality sector finished 2007 with a 61-percent occupancy rate, she said, up about 5.4 percent from 2006.
"The trend right now is to take old buildings like the Atlas Life and turn them around," she said, suggesting the hotel would appeal not just with business and convention travelers, but OSU-Tulsa guests and many others. "And having the suite-type of situation really gives us an option that we don't really have down here."
While he thought the renovation a "great concept," Craddock wondered if they would be able to draw the 100 to 120 rooms usually needed for a Courtyard out of the existing structure.
"It all depends on how well the architect can work within the structural walls of the building," he said. "You should be able to get quite a few rooms in there."
quote:
Originally posted by sgrizzle
I'm betting that the sign will stay, it is too much a part of the building. It's not like Atlas Life is just now leaving the building. They can just ad a marriot sign or two. They may even call it "Marriot Tulsa Atlas Building" or something to that effect.
My first instinct when I read the story in this morning's Tulsa World was "what a shame." But I will admit I know nothing about the tennant occupancy of the Atlas Life building, so the economics of the situation are beyond my comment. I do remember that just in the past few years they resored the neon Atlas Life sign, and I think they should definately keep this as part of the historic building and the Boston Avenue experience.
quote:
Originally posted by Steve
quote:
Originally posted by sgrizzle
I'm betting that the sign will stay, it is too much a part of the building. It's not like Atlas Life is just now leaving the building. They can just ad a marriot sign or two. They may even call it "Marriot Tulsa Atlas Building" or something to that effect.
My first instinct when I read the story in this morning's Tulsa World was "what a shame." But I will admit I know nothing about the tennant occupancy of the Atlas Life building, so the economics of the situation are beyond my comment. I do remember that just in the past few years they resored the neon Atlas Life sign, and I think they should definately keep this as part of the historic building and the Boston Avenue experience.
I am betting most of the occupants will stay downtown and the net effect on occupancy rate will be good.
quote:
Originally posted by inteller
yeah, if it gives Kanbar a chance to renovate some of his other digs then it will be great. I suspect he can move a bunch into the Mcfarlin building.
I thought McFarlin had other owners, which is why renovation has actually been done on it as opposed to the rather stagnant state of most of the Kanbar portfolio.
Sorrano's was good, but in a semi-crappy location. Wasn't even that convenient for people in that building.
quote:
Originally posted by Kenosha
I hope the New Atlas Grill won't be permanently relocated....it would be a great addition to a hotel lobby.
No need to worry. Press Club is fine too.
quote:
Originally posted by AVERAGE JOE
quote:
Originally posted by Kenosha
I hope the New Atlas Grill won't be permanently relocated....it would be a great addition to a hotel lobby.
No need to worry. Press Club is fine too.
I suspected. Hope they go for that 40% historic tax credit...
quote:
Originally posted by sgrizzle
quote:
Originally posted by inteller
yeah, if it gives Kanbar a chance to renovate some of his other digs then it will be great. I suspect he can move a bunch into the Mcfarlin building.
I thought McFarlin had other owners, which is why renovation has actually been done on it as opposed to the rather stagnant state of most of the Kanbar portfolio.
Sorrano's was good, but in a semi-crappy location. Wasn't even that convenient for people in that building.
No exterior door kills that location for most uses.
quote:
Originally posted by sgrizzle
quote:
Originally posted by inteller
yeah, if it gives Kanbar a chance to renovate some of his other digs then it will be great. I suspect he can move a bunch into the Mcfarlin building.
I thought McFarlin had other owners, which is why renovation has actually been done on it as opposed to the rather stagnant state of most of the Kanbar portfolio.
Sorrano's was good, but in a semi-crappy location. Wasn't even that convenient for people in that building.
no, thats why they knocked down the two adjacent buildings to make way for parking....because you know there isnt enough parking downtown.
Exciting news to me. Though I refuse to actually get excited until the project is underway.
The Atlas building is a cluster on the inside. Taking NOTHING away from the amazing architecture and detail - it is dark, cramped in places, and hard to navigate. The office floors are entirely out of date. Major work will be needed to make it into a viable hotel and I really hope they keep the charm and art-deco feel of the inside (I'm sure they will as why else choose that building?).
It is a good sign when private money bets in an area. We are starting to see a trickle of bets in downtown, I hope the flood gates open.
BUT - what does this do for the prospects of the "old" city hall or the much anticipated Tower Apartment area across from the arena?
You dont reeeeally think that anyone is going to do something with the old city hall site do ya? That was just a line to get people on board for the new city hall. Which I still think is a good move. The area right next to the Arena where the Towerview was, is still the most likely bet for a large hotel development or hotel/mixed use development. Plus the Atlas Hotel will not have that many rooms. Its supposed to be a "botique" hotel. Wont put much of a dent in over all room numbers.
quote:
Originally posted by inteller
quote:
Originally posted by sgrizzle
quote:
Originally posted by inteller
yeah, if it gives Kanbar a chance to renovate some of his other digs then it will be great. I suspect he can move a bunch into the Mcfarlin building.
I thought McFarlin had other owners, which is why renovation has actually been done on it as opposed to the rather stagnant state of most of the Kanbar portfolio.
Sorrano's was good, but in a semi-crappy location. Wasn't even that convenient for people in that building.
no, thats why they knocked down the two adjacent buildings to make way for parking....because you know there isnt enough parking downtown.
Kanbar knocked down the two buildings next door after the guy working in it fell through the floor.
quote:
Originally posted by TheArtist
You dont reeeeally think that anyone is going to do something with the old city hall site do ya? That was just a line to get people on board for the new city hall. Which I still think is a good move. The area right next to the Arena where the Towerview was, is still the most likely bet for a large hotel development or hotel/mixed use development. Plus the Atlas Hotel will not have that many rooms. Its supposed to be a "botique" hotel. Wont put much of a dent in over all room numbers.
86,000sqft can make a good number of hotel rooms.
My bet is still on towerview for adjacent hotel., although it is hard to beat the possibility of direct connection to the convention center. City Hall probably needs the library parcel as well to be a real attractive property.
quote:
Originally posted by inteller
quote:
Originally posted by sgrizzle
quote:
Originally posted by inteller
yeah, if it gives Kanbar a chance to renovate some of his other digs then it will be great. I suspect he can move a bunch into the Mcfarlin building.
I thought McFarlin had other owners, which is why renovation has actually been done on it as opposed to the rather stagnant state of most of the Kanbar portfolio.
Sorrano's was good, but in a semi-crappy location. Wasn't even that convenient for people in that building.
no, thats why they knocked down the two adjacent buildings to make way for parking....because you know there isnt enough parking downtown.
Kanbar did level those two buildings, but they were part of his purchase of the First Place Tower and he does not own the McFarlin building.
The TW article stated the hotel will be a Mariott. Looks like the boutique niche is a new venture for Mariott...called "Edition." They recently announced that the first Mariott Edition hotels will be in Paris, Madrid, South Beach in Miami, Chicago, Washington, D.C., Costa Rica, Los Angeles and Scottsdale, Arizona. To that list, should we add...Tulsa?
http://www.blogs.marriott.com/default.asp?item=737965
quote:
You dont reeeeally think that anyone is going to do something with the old city hall site do ya? That was just a line to get people on board for the new city hall.
No, I don't think anyone is going to touch that building. No possibility of attached parking (I know it is less than a black away, but across the street the DoubleTree has attached). Ugly. Old. And poorly maintained. It might make a good call center if they offered nearly free rent.
I was in favor of the City Hall move IF it made financial "cents." It only did so pretending the city was able to get something from and/or not maintain the properties it abandoned. Which it will not.
Bah, I don't want to deviate any more... just wanted to point out that there is a finite need for hotels downtown and this developer made a conscious decision to remodel the Atlas building instead of building near the arena.
quote:
Originally posted by cannon_fodder
quote:
You dont reeeeally think that anyone is going to do something with the old city hall site do ya? That was just a line to get people on board for the new city hall.
No, I don't think anyone is going to touch that building. No possibility of attached parking (I know it is less than a black away, but across the street the DoubleTree has attached). Ugly. Old. And poorly maintained. It might make a good call center if they offered nearly free rent.
I was in favor of the City Hall move IF it made financial "cents." It only did so pretending the city was able to get something from and/or not maintain the properties it abandoned. Which it will not.
Bah, I don't want to deviate any more... just wanted to point out that there is a finite need for hotels downtown and this developer made a conscious decision to remodel the Atlas building instead of building near the arena.
I'm pretty sure they are not going to be maintaining those old buildings, unless by "maintain" you mean "demolish".
http://www.tulsaworld.com/news/article.aspx?articleID=070715_1_A1_spanc10317
Quote: The $76 million of indebtedness to be taken on by the city includes the building purchase price, which was confirmed at $52.25 million; relocation costs; bonding costs; demolition of some vacated city structures; security; and consultant fees.
quote:
Originally posted by PonderInc
The TW article stated the hotel will be a Mariott. Looks like the boutique niche is a new venture for Mariott...called "Edition." They recently announced that the first Mariott Edition hotels will be in Paris, Madrid, South Beach in Miami, Chicago, Washington, D.C., Costa Rica, Los Angeles and Scottsdale, Arizona. To that list, should we add...Tulsa?
http://www.blogs.marriott.com/default.asp?item=737965
I saw this too, but hesitated to post. I'm not convinced that this "Edition" brand will be utilized here in Tulsa. My guess is that the hotel will be a Courtyard Marriott (similar to the one next to the Ford Center in OKC). Courtyard isn't exactly a "boutique" brand but it's a smaller version of most full-service Marriott hotels.
If it did become an "Edition" though...I'd be fine with it :)
It will be a courtyard marriott. Atlas Grill and Tulsa Press Club will remain.
http://www.tulsaworld.com/news/article.aspx?articleID=20080303_5__SJSHo05376
quote:
Originally posted by sgrizzle
It will be a courtyard marriott. Atlas Grill and Tulsa Press Club will remain.
http://www.tulsaworld.com/news/article.aspx?articleID=20080303_5__SJSHo05376
Here's the article text:
SJS Hospitality of Missouri announced Monday it will redevelop the historic Atlas Life Building into a 120-room Courtyard by Marriott boutique hotel.
The company, which has developed two Tulsa-area hotels and is in the process of building another in the Stone Wood Hills development of Broken Arrow, plans to spend $12 million to $15 million to convert the building over the next 18 to 24 months.
SJS purchased the building at 415 S. Boston Ave. from Maurice Kanbar, the San Francisco inventor and philanthropist who bought 16 downtown Tulsa buildings for $108 million. The purchase price of the Atlas was not disclosed.
During a press conference at the building Monday, Tulsa Mayor Kathy Taylor said the announcement was a key part of the redevelopment of downtown Tulsa.
Current tenants above the second floor will vacate the building, although Steve Ehrhardt, a partner with SJS, said the Atlas Grill and the Tulsa Press Club will remain. The status of the other first-floor tenants has not been determined.
Very, very cool.
This is great news! The heart of our downtown is getting an injection of "life"
http://www.tulsabusiness.com/article.asp?lID=7&sID=8&m1=9&cID=Z&aID=32069819.9871897.609193.406515.61929302.821&aID2=46852
i can't decide if that's good news or bad.
i guess it's better than the building being mostly un-rented at this point.
THIs: "Plans for parking adjacent to the building also are under negotiation." scares me.
sounds like they are going to not keep the identity of the atlas life name / sign / etc. which would be really sad. it'd also suck if they got rid of the architecture that's in there. IMO at least don't touch the lobby.
http://www.newatlasgrill.com/
it's like a living working museum.
*sigh* the elevators...are really old and great but were made in a time when people were smaller (and thinner?), so they're probably going to be gutted and made modern. that's going to suck.
quote:
Originally posted by cmoreno
http://www.tulsabusiness.com/article.asp?lID=7&sID=8&m1=9&cID=Z&aID=32069819.9871897.609193.406515.61929302.821&aID2=46852
i can't decide if that's good news or bad.
i guess it's better than the building being mostly un-rented at this point.
THIs: "Plans for parking adjacent to the building also are under negotiation." scares me.
sounds like they are going to not keep the identity of the atlas life name / sign / etc. which would be really sad. it'd also suck if they got rid of the architecture that's in there. IMO at least don't touch the lobby.
http://www.newatlasgrill.com/
it's like a living working museum.
*sigh* the elevators...are really old and great but were made in a time when people were smaller (and thinner?), so they're probably going to be gutted and made modern. that's going to suck.
Don't fret...
As per KOTV's story (http://www.newson6.com/global/story.asp?s=7959765):
quote:
As for parking, they say they're negotiating with the owner of the PhilTower Parking Garage next door.
They say they could always rely on valet parking as well. The entire renovation is expected to cost $15 million.
quote:
Originally posted by cmoreno
http://www.tulsabusiness.com/article.asp?lID=7&sID=8&m1=9&cID=Z&aID=32069819.9871897.609193.406515.61929302.821&aID2=46852
i can't decide if that's good news or bad.
i guess it's better than the building being mostly un-rented at this point.
THIs: "Plans for parking adjacent to the building also are under negotiation." scares me.
sounds like they are going to not keep the identity of the atlas life name / sign / etc. which would be really sad. it'd also suck if they got rid of the architecture that's in there. IMO at least don't touch the lobby.
http://www.newatlasgrill.com/
it's like a living working museum.
*sigh* the elevators...are really old and great but were made in a time when people were smaller (and thinner?), so they're probably going to be gutted and made modern. that's going to suck.
Dude, I highly, highly doubt that this company is purchasing the Atlas Life building in order to strip it of all its gorgeous, significant architecture and turn it into something generic. From the artticle you linked to:
quote:
Marriott's national urban design team, which specializes in the development of existing buildings, will work closely with the SJS project team of Tulsa-based architects GH2 and contractor Thomas Construction to integrate the historical nature of the building throughout its renewal.
Honestly, this sort of thing is what keeps our beautiful old buildings from suffering the same fate as the Auto Hotel, the Tulsa Club, and the Camelot. Continuous renewal and upgrade, taking into account historical and architectural significance, is what is going to breathe life into our legacy buildings.
quote:
Originally posted by DScott28604
quote:
Originally posted by cmoreno
http://www.tulsabusiness.com/article.asp?lID=7&sID=8&m1=9&cID=Z&aID=32069819.9871897.609193.406515.61929302.821&aID2=46852
i can't decide if that's good news or bad.
i guess it's better than the building being mostly un-rented at this point.
THIs: "Plans for parking adjacent to the building also are under negotiation." scares me.
sounds like they are going to not keep the identity of the atlas life name / sign / etc. which would be really sad. it'd also suck if they got rid of the architecture that's in there. IMO at least don't touch the lobby.
http://www.newatlasgrill.com/
it's like a living working museum.
*sigh* the elevators...are really old and great but were made in a time when people were smaller (and thinner?), so they're probably going to be gutted and made modern. that's going to suck.
Don't fret...
As per KOTV's story (http://www.newson6.com/global/story.asp?s=7959765):
quote:
As for parking, they say they're negotiating with the owner of the PhilTower Parking Garage next door.
They say they could always rely on valet parking as well. The entire renovation is expected to cost $15 million.
Some hotels in rehabed buildings I have been in lately include the Hotel Phillips in KC, very very cool hotel, the kept the old elevators and they are small. The Skirvan Hilton in OKC, small elevators. Holiday Inn redid the Aladdin in downtown KC and kept the look of the building as well as the original hotel sign and reopened the signature dining room as did the Hilton President. NOt everyone is in the tear it down mood nor do they re-cover the exterior like they did in the 60s and 70s to make it look more modern. Keeping the original look makes a building more valuable. Resheeting the exterior can be a mistake. Especially if they try to make it look like 80s Dallas with reflective glass.
You know, I'm getting
sick and tired of having to go from news source to news source in Tulsa to try to get the whole story.
We go to the World and get bits of information, go to KOTV to get some additional bits, and possibly the Tulsa Business Journal for another bit or two.
What is really frustrating about this is that the Journal Record (or some other source) often has a MUCH more complete look at a story.
Take THIS story, for instance. TW announced some things, and we had questions that were later answered by KOTV.
I just checked the Journal Record's website and found a very nice story that gives us a much better look at the developer and his plans for the building... MUCH more detailed. Why can't we have routine, comprehensive coverage? Does the World fear that if they let the whole story out at once, they can't write about it the next day to fill up space???? [:(!]
Check it out:
quote:
SJS to turn Atlas Life Building into $15 million flagship hotel
by Kirby Lee Davis
The Journal Record March 4, 2008
TULSA – Hotel operator SJS Hospitality LLC will pay about $15 million to transform downtown Tulsa's 95,000-square-foot Atlas Life Building into its flagship hotel, a 120-room Courtyard by Marriott.
The changeover will also give the skyscraper district a new restaurant and bar on the building's second floor, SJS operating partner Jeff Hartman said Monday, even as he assured Tulsa Press Club listeners that both the nonprofit club and the neighboring Atlas Grill restaurant would remain open for business.
"That's the key question everyone has asked us," Hartman said with a smile. "It wasn't really about the number of rooms."
Broken Arrow-based SJS paid $1.7 million to Kanbar Properties for the 86-year-old office tower in a deal brokered by Cecilia Wilkins of Tulsa's W3 Development LLC. Contractor Thomas Construction of Osage Beach, Mo., will to start work this summer to transform the 13-story structure, using plans by GH2 Architects of Tulsa. SJS partner Steve Ehrhardt expects the work to take 18 to 24 months.
While the Atlas Life provides an existing foundation to create the fourth hotel in the SJS chain, Hartman said his four-year-old company would face several challenges in adding hospitality infrastructure – plumbing, environmental system and other needs – while protecting the building's historic character, from the four-story neon sign to its molded lobby roof.
"We're not looking at any savings whatsoever," he said of the project, acknowledging new construction could deliver a similar-sized hotel at a potentially lower price.
For example, the company targets November completion for a $6.5 million, 92-room TownePlace Suites by Marriott alongside its Holiday Inn Express and Suites at the Bass Pro Shops development in Broken Arrow.
But Hartman said Atlas Life offers several factors that make it a "must-stay destination" for downtown leisure travelers, from its iconic architecture to its close proximity to the BOK Center arena, Mid-Continent Tower and Philtower.
"The return on the investment is about the same, if not better, because a property like this has that historical nature and concept that people will pay extra for," Hartman said, projecting room rates from $149 to $189.
Upgrading the building also involves added costs. Hartman said SJS would reduce the number of elevators from three to two, so that one shaft could accommodate a gurney.
"That alone is going to cost close to half a million dollars," he said.
Hartman projected asbestos removal will run about $160,000. GH2 architects also are developing plans for a stairway to extend from the first floor to the 12th.
But the biggest challenge could come from Thomas Construction having to do its demolition work and other retrofit needs limited to existing space, pouring its waste down chutes to dumpsters without blocking access to a building wedged between to high-rise towers. Hartman said SJS does not plan any new construction to expand the original, inverted T-shaped tower.
The new restaurant and bar will overlook Boston Avenue. Hartman said the concept paralleled Panera Bread eateries, providing breakfast, lunch and dinner options. As an added revenue source, SJS is working with Philtower owner Jim Hawkins to provide room service for the neighboring tower – and not just for the SJS outlet, but from others in the building. He said similar service for Mid-Continent tenants remained an option.
SJS is negotiating parking access to the Philtower parking garage.
"If that goes through, we will build a skywalk bridge from our second floor," he said.
As for its marquee, Hartman said SJS is looking at several options to broadcast itself but not interfere with the existing neon landmark, including a metal awning like the Mid-Continent employs.
"We are real sensitive to not putting a 40-foot sign on this building," he said.
quote:
Does the World fear that if they let the whole story out at once, they can't write about it the next day to fill up space?
in a word?
yes.
and i have to give mad props to KOTV in the last few years for getting much more investigative in their coverage. i've seen since i arrived in tulsa 8 years ago the quality of their news go from fluff to VERY comprehensive.
more and more i rely on the tulsa business journal and KOTV to get the full story.
I am still wondering if they will use the rooftop areas off the second floor as outdoor eating space and or patio space? I think it would be really neat if they did [:D]
quote:
Originally posted by cmoreno
quote:
Does the World fear that if they let the whole story out at once, they can't write about it the next day to fill up space?
in a word?
yes.
and i have to give mad props to KOTV in the last few years for getting much more investigative in their coverage. i've seen since i arrived in tulsa 8 years ago the quality of their news go from fluff to VERY comprehensive.
more and more i rely on the tulsa business journal and KOTV to get the full story.
The Journal Record, the business paper out of Oklahoma City is also pretty good.
quote:
Originally posted by TheArtist
I am still wondering if they will use the rooftop areas off the second floor as outdoor eating space and or patio space? I think it would be really neat if they did [:D]
+1
This is the first "infill" development downtown. The other items are on the outskirts of the active area - arena, bluedome, pearl, brady. This is in the middle. Good news.
Also relieved to hear that they intend to use existing parking. If they started messing with the urban look of Boston I'd throw a fit.
Oh, and per the architecture they said in the press conference that the classical and detailed architectural elements were one of the main reason they chose the building. So I'd expect to see them maintained.
And thank god the Atlas grill will remain. I crave apple smoked bacon.
/ramble.
Front of the TW says they plan on keeping the sign.
quote:
Originally posted by DScott28604
You know, I'm getting sick and tired of having to go from news source to news source in Tulsa to try to get the whole story.
We go to the World and get bits of information, go to KOTV to get some additional bits, and possibly the Tulsa Business Journal for another bit or two.
What is really frustrating about this is that the Journal Record (or some other source) often has a MUCH more complete look at a story.
Take THIS story, for instance. TW announced some things, and we had questions that were later answered by KOTV.
I just checked the Journal Record's website and found a very nice story that gives us a much better look at the developer and his plans for the building... MUCH more detailed. Why can't we have routine, comprehensive coverage? Does the World fear that if they let the whole story out at once, they can't write about it the next day to fill up space???? [:(!]
Check it out:
quote:
SJS to turn Atlas Life Building into $15 million flagship hotel
by Kirby Lee Davis
The Journal Record March 4, 2008
TULSA – Hotel operator SJS Hospitality LLC will pay about $15 million to transform downtown Tulsa's 95,000-square-foot Atlas Life Building into its flagship hotel, a 120-room Courtyard by Marriott.
The changeover will also give the skyscraper district a new restaurant and bar on the building's second floor, SJS operating partner Jeff Hartman said Monday, even as he assured Tulsa Press Club listeners that both the nonprofit club and the neighboring Atlas Grill restaurant would remain open for business.
"That's the key question everyone has asked us," Hartman said with a smile. "It wasn't really about the number of rooms."
Broken Arrow-based SJS paid $1.7 million to Kanbar Properties for the 86-year-old office tower in a deal brokered by Cecilia Wilkins of Tulsa's W3 Development LLC. Contractor Thomas Construction of Osage Beach, Mo., will to start work this summer to transform the 13-story structure, using plans by GH2 Architects of Tulsa. SJS partner Steve Ehrhardt expects the work to take 18 to 24 months.
While the Atlas Life provides an existing foundation to create the fourth hotel in the SJS chain, Hartman said his four-year-old company would face several challenges in adding hospitality infrastructure – plumbing, environmental system and other needs – while protecting the building's historic character, from the four-story neon sign to its molded lobby roof.
"We're not looking at any savings whatsoever," he said of the project, acknowledging new construction could deliver a similar-sized hotel at a potentially lower price.
For example, the company targets November completion for a $6.5 million, 92-room TownePlace Suites by Marriott alongside its Holiday Inn Express and Suites at the Bass Pro Shops development in Broken Arrow.
But Hartman said Atlas Life offers several factors that make it a "must-stay destination" for downtown leisure travelers, from its iconic architecture to its close proximity to the BOK Center arena, Mid-Continent Tower and Philtower.
"The return on the investment is about the same, if not better, because a property like this has that historical nature and concept that people will pay extra for," Hartman said, projecting room rates from $149 to $189.
Upgrading the building also involves added costs. Hartman said SJS would reduce the number of elevators from three to two, so that one shaft could accommodate a gurney.
"That alone is going to cost close to half a million dollars," he said.
Hartman projected asbestos removal will run about $160,000. GH2 architects also are developing plans for a stairway to extend from the first floor to the 12th.
But the biggest challenge could come from Thomas Construction having to do its demolition work and other retrofit needs limited to existing space, pouring its waste down chutes to dumpsters without blocking access to a building wedged between to high-rise towers. Hartman said SJS does not plan any new construction to expand the original, inverted T-shaped tower.
The new restaurant and bar will overlook Boston Avenue. Hartman said the concept paralleled Panera Bread eateries, providing breakfast, lunch and dinner options. As an added revenue source, SJS is working with Philtower owner Jim Hawkins to provide room service for the neighboring tower – and not just for the SJS outlet, but from others in the building. He said similar service for Mid-Continent tenants remained an option.
SJS is negotiating parking access to the Philtower parking garage.
"If that goes through, we will build a skywalk bridge from our second floor," he said.
As for its marquee, Hartman said SJS is looking at several options to broadcast itself but not interfere with the existing neon landmark, including a metal awning like the Mid-Continent employs.
"We are real sensitive to not putting a 40-foot sign on this building," he said.
That 40% Historic Tax Credit would go a looooooooong way towards mitigating those retrofitting costs.
quote:
Originally posted by DScott28604
I just checked the Journal Record's website and found a very nice story that gives us a much better look at the developer and his plans for the building... MUCH more detailed.
Thank you so much for the Journal Record article. I have been waiting to hear more details before weighing in. My concerns (preserving the architecture, signage, the Atlas Grill and the Tulsa Press Club) were all answered by this article. (The TW article left me thinking: "Am I happy or afraid? We need more information.")
I can now officially state: Yippee-kay-a! What a great project for downtown. Can't wait to see it move forward! (And thanks, Journal Record.)
The Atlas Life Building is one of the buildings in Tulsa that I would chain myself to to protect. Soooo glad to hear that the developer seems to respect the building, and appreciates that it's an irreplaceable treasure. Go Tulsa!
The Journal Record has offices in the Atlas Life building. No wonder they got the scoop! [}:)]
quote:
Originally posted by cannon_fodder
The Journal Record has offices in the Atlas Life building. No wonder they got the scoop! [}:)]
Well, not only that, but the World keeps reporting (i.e., every article they've written about the project) that the building was sold for "an undisclosed amount", which isn't true. The Journal Record not only had the amount for which it was sold, but also the name of the broker! [:O]
Hey! This is great news! Why the Tulsa world had to spin every article with a negative tone, I will never understand!
Actual Headline:
Building tenants told to relocate
We have too many mush-heads in Tulsa that are going to read this and go:
"Aww. . . how horrible, the big bad developer is going to put these poor people out on the street and they are going to go out of business and starve."
The tenants of this building signed leases with an understanding that their occupancy was temporary and dependent on a future sale of the building by Kanbar's group. They were told that this was going to happen about 6 months ago and most were renting month to month.
Why coulden't the Tulsa World report good news with a happy and exciting headline like:
Botique Hotel to Revive Historic Atlas Life Building
Hey Tulsa World, you guys are in some part responsible for setting the tone for our community. How do you think a headline like this helps Tulsans?
because poo pooing downtown drives down property values which allows them to buy out more places and flatten them for surface parking like the skelly building.
quote:
Originally posted by inteller
because poo pooing downtown drives down property values which allows them to buy out more places and flatten them for surface parking like the skelly building.
They already owned the skelly building but it is getting more apparent that they poo-poo anything that is NOT from friends of theirs.
Yes I found the TW headline to be kind of "low life tabloid" myself. Shameful.
quote:
Originally posted by TheArtist
Yes I found the TW headline to be kind of "low life tabloid" myself. Shameful.
i'm overjoyed that old money is losing its position of influence downtown.
quote:
Originally posted by inteller
quote:
Originally posted by TheArtist
Yes I found the TW headline to be kind of "low life tabloid" myself. Shameful.
i'm overjoyed that old money is losing its position of influence downtown.
never mind
So the World says that the Atlas Building sold for $1.7 million and Kanbar bought it two years ago for $1.5 million. Kanbar got a nice 13% return on his investment in the building in just two years. This is good for him and for Tulsa has it would seem the run-up in downtown property values he created by buying all those buildings at once has not only held but values have increased even since then.
quote:
Originally posted by swake
Kanbar got a nice 13% return on his investment in the building in just two years.
Assuming those numbers are right, that is a return of 6.25% per year. Not bad in general, particularly not bad in the current real estate market, and CERTAINLY better than he would have enjoyed in most markets. But after expenses he didn't make a killing (nor should you in 2 years).
kanbar basically got out from under that purchase. Good for him, and good for tulsa as a renovated and heavily used Atlas Life building will bring value to all the surrounding properties.
If this building is renovated as well as the Humble Oil building in Houston was by Marriott, it will be a huge hit. One difference down there though was that they made part of that building apartments. It sure would be nice if they could do something similiar here.
quote:
Originally posted by inteller
kanbar basically got out from under that purchase. Good for him, and good for tulsa as a renovated and heavily used Atlas Life building will bring value to all the surrounding properties.
If this building is renovated as well as the Humble Oil building in Houston was by Marriott, it will be a huge hit. One difference down there though was that they made part of that building apartments. It sure would be nice if they could do something similiar here.
The Atlas just isn't big enough for that, but that is the plan with the Mayo. The World said today it would have something like 72 condo and 100 hotels rooms.
quote:
Originally posted by swake
quote:
Originally posted by inteller
kanbar basically got out from under that purchase. Good for him, and good for tulsa as a renovated and heavily used Atlas Life building will bring value to all the surrounding properties.
If this building is renovated as well as the Humble Oil building in Houston was by Marriott, it will be a huge hit. One difference down there though was that they made part of that building apartments. It sure would be nice if they could do something similiar here.
The Atlas just isn't big enough for that, but that is the plan with the Mayo. The World said today it would have something like 72 condo and 100 hotels rooms.
Anyone have news on when the Mayo is supposed to be finished? I would love to see it!!
quote:
Originally posted by Gaspar
quote:
Originally posted by swake
quote:
Originally posted by inteller
kanbar basically got out from under that purchase. Good for him, and good for tulsa as a renovated and heavily used Atlas Life building will bring value to all the surrounding properties.
If this building is renovated as well as the Humble Oil building in Houston was by Marriott, it will be a huge hit. One difference down there though was that they made part of that building apartments. It sure would be nice if they could do something similiar here.
The Atlas just isn't big enough for that, but that is the plan with the Mayo. The World said today it would have something like 72 condo and 100 hotels rooms.
Anyone have news on when the Mayo is supposed to be finished? I would love to see it!!
My guess is around the end of next year. Lots of things seem to be lining up to finish in about 18 months or around 2010. It takes a while for things to work their way through the system and happen. It took a while for MAPS to show any progress in OKC. 2010-2012 are settling in to be good years for Tulsa.
SJS mixes retail, history with new Tulsa hotel
by Kirby Lee Davis
The Journal Record March 25, 2009
TULSA – SJS Hospitality LLC will mix retail and history in delivering a 118-room Courtyard by Marriott to downtown Tulsa on May 15, 2010, officials said Tuesday.
A full year after announcing plans to transform the 95,000-square-foot Atlas Life Building into its flagship hotel, Broken Arrow-based SJS put to rest fears the $17.2 million project had encountered developmental difficulties under the credit crunch and national recession. "I don't know about how the rest of the nation feels, but here in Tulsa, I think we feel pretty good," said Mayor Kathy Taylor, who praised SJS for demonstrating the risk-taking heritage of Tulsa's founders.
Between the 18,000-seat BOK Center, the ongoing Tulsa Convention Center renovation and the $60 million Oneok Field project scheduled for completion next spring, Tulsa Metro Chamber Chairman David Page said SJS should find a prime audience for its hotel.
"These three will draw 1 million new visitors annually to downtown Tulsa starting in 2010," said Page.
SJS operating partner Jeff Hartman unveiled subtle changes to the Atlas renovation plans Tuesday, injecting more retail into the first-floor mix while repositioning the seventh floor for high-profile guests.
Both changes address concerns raised with the transformation's initial announcement last year. In preserving the historic art deco character of the first-floor lobby, SJS had promised to retain the New Atlas Grill and the Tulsa Press Club while hoping to relocate everyone else. But the Courtyard Deli sought to retain its Boston Avenue home under a long-term lease, which SJS decided to honor.
Hartman said Tuesday that his company now intends to retain some 2,500 square feet of retail space in about three spaces. While SJS has no leases signed, Hartman expressed hope the Stems floral shop would remain a tenant. Other good fits, he said, would include a salon/spa or a travel agency.
SJS plans renovations for the Atlas Grill site and the Press Club, ranging from freshening the countertops and paint schemes to upgrading the tables and seats. The grill also will receive a higher, open ceiling similar to the Press Club.
Between its retail space and the Tulsa Press Club, SJS will create a downtown satellite office for the Tulsa Historical Society.
"We will work with them on displaying Atlas Life Building artifacts as well as other historical displays," said Hartman.
Since the seventh floor retains its original 1922 floor plan and central hall, Hartman said SJS decided to adapt that historic motif under the three-bedroom Atlas Life Hospitality Suite.
"Along with this suite will be several other upscale guest rooms on this floor as well as a boardroom that can serve as an office when a client or guest rents the entire floor," said Hartman. "We anticipate that this seventh floor will be well-received within the entertainment market as performers or production companies are booked into the BOK arena or the PAC (Performing Arts Center)."
SJS paid $1.7 million to Kanbar Properties for the 87-year-old office tower, with contractor Thomas Construction of Osage Beach, Mo., transforming the 13-story structure with plans by GH2 Architects of Tulsa.
Since the former office building holds a spot on the National Register of Historic Places, SJS partner Steve Ehrhardt sought and received the National Park Service approval before proceeding with its renovation.
"This is apparently unheard of, for the National Park Service to approve a presentation on the first attempt, without any comments," he said.
GH2 has a page for the project, although no renderings:
http://gh2hospitality.com/portfolio/atlas-courtyard-by-marriott/
This is looking VERY cool. Glad it's progressing.
Looky looky
http://www.marriott.com/hotels/travel/tultd-courtyard-tulsa-downtown/