OKLAHOMA CITY – OGE Energy Corp. will be an anchor tenant at a new 14- to 16-story tower planned for the area currently occupied by the Stage Center downtown.
Kestrel Investments announced the news Tuesday morning.
The new tower will serve as OGE Energy’s corporate headquarters.
Officials with Kestrel said they plan to file for a demolition permit at 4 p.m. Tuesday.
Plans for the 3.15-acre property, located between W. Sheridan and W. California and S. Dewey and S. Walker, include the 14- to 16-story office tower along Hudson Ave. to be occupied by OGE Energy and additional tenants, according to Kestrel.
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 Ave. 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.
Recognizing the architectural significance of Stage Center, the developer plans to include an exhibit on the property to commemorate Stage Center’s legacy.
“We know that Stage Center has architectural meaning,” Rainey Williams said, president of Kestrel Investments, Inc. “We want to commemorate that as we move forward toward transforming this property into an exciting, active, usable space in our downtown community.”
Kestrel said it 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.
Kestrel Investments, Inc. purchased the downtown property in July from the Kirkpatrick Center Affiliated Fund of the Oklahoma City Community Foundation for $4.275 million.
Start of building design and construction are dependent on approval of the demolition permit by the DDRC.
When designed, improvements will be submitted to DDRC for approval.