The Norman Transcript

Business

December 18, 2013

Kestrel Investments announces OGE as tenant for tower

OKLAHOMA CITY — Kestrel Investments, owner and developer of the downtown Oklahoma City property currently occupied by Stage Center, recently announced that OGE Energy Corp. will be an anchor tenant for the 14- to 16-story tower planned for the property.

The tower will serve as OGE Energy’s corporate headquarters and will allow the company to consolidate a number of its metro-area employees into the new building.

Kestrel intends to file prior to 4 p.m. today for a demolition permit from the Downtown Design Review Committee and has revealed a conceptual master plan for development of the property.

The master plan is conceptual only. Local architectural firm ADG Inc. developed the site plan.

Plans for the 3.15-acre property, between west Sheridan and west California and south Dewey and south Walker, include the office tower along Hudson Avenue to be occupied by OGE Energy and additional tenants.

The conceptual site plan also includes integrated, multi-level parking and leased space for retail, restaurants and other uses supporting downtown Oklahoma City.

The conceptual master plan also showed potential for development of an additional structure of eight to 12 stories along Sheridan Avenue that will be made available for hotel, residential and/or additional office development. That portion of the property would be offered for sale to other developers.

The developer plans to include an exhibit on the property to commemorate Stage Center’s legacy.

Kestrel also intends to provide areas and improvements on the property to accommodate the Festival of the Arts, sponsored by the Arts Council of Oklahoma City.

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