“This project will continue to build on the revitalization of this exciting area of downtown Oklahoma City,” Rainey Williams, president of Kestrel Investments, Inc, said in a media statement.
“We want the development to complement its surroundings and provide another opportunity to enjoy our downtown. With OGE Energy as our anchor tenant, we are confident our development will be something that Oklahoma City will be proud to have downtown.”
The planned 14- to 16-story tower will serve as OGE Energy’s corporate headquarters, and metro-area employees will consolidate into the space.
Kestrel also announced it plans for a demolition permit from the Downtown Design Review Committee (DDRC) Tuesday prior to 4 p.m. An artist rendering of the property also was released.
The master plan is conceptual only, organizers said. Buildings and developments have not been designed. Local architectural firm ADG, Inc. developed the site plan.
The 3.15-acre property is located between W. Sheridan Avenue and W. California Avenue and S. Dewey Avenue and S. Walker Avenue. Plans for the area include an office tower on Hudson Ave. Early plans includes “multi-level parking and leased space for retail, restaurants and other uses supporting downtown Oklahoma City,” the statement said.
Another structure up to 12 stories may also be developed on Sheridan Avenue, and be offered for sale.
Also, plan to recognize the “architectural significance” of Stage Center with plans to build an exhibit to commemorate the building’s legacy.
“We know that Stage Center has architectural meaning,” Williams said. “We want to commemorate that as we move forward toward transforming this property into an exciting, active, usable space in our downtown community.”
Kestrel also said it will help provide areas to sustain the long-running annual Festival of the Arts, sponsored by the Arts Council of Oklahoma City, in the area.
Kestrel Investments, Inc. bough the property in July from the Kirkpatrick Center Affiliated Fund of the Oklahoma City Community Foundation for $4.275 million.