New OG&E tower to house 27 stories of offices, 500 apartments
OKLAHOMA CITY — There are big changes coming to the downtown Oklahoma City skyline.
Construction could begin in May for the new OG&E headquarters at Hudson and Sheridan.
At 27 stories tall, the project will cost $193 million.
You might recall when the Stage Center was demolished at that site last summer.
Thursday, the new building plans went before the Downtown Design Review Committee.
“It’ll be a first class, world class office building. We hope to really enhance the skyline of Oklahoma City. We sit prominently on Myriad Gardens, which is exciting. The views are outstanding,” Clayco partner Larry Chapman.
The project proposed by Chicago-based Clayco includes 27 stories of office space, a five-story garage, and a tower housing 500 apartments.
“You know, so few downtown areas have the opportunity to actually expand their central business district,” Downtown OKC President and CEO Jane Jenkins said.
Jenkins welcomes the new OG&E plaza, especially with its residential and retail space.
OG&E will have more than 900 employees working there, along with another 2,800 employees expected to work for other firms occupying the building.
“I think the jobs and the impact on our local economy and our state economy will far outweigh the inconveniences and the investment that the public sector is making in this structure,” Jenkins.
Construction is expected to be complete by then end of 2016.
Clayco has made a request for tax increment financing.
That’s an incentive offered by the city where companies can gain back money from their property taxes that was used to develop the project.
Clayco and the city are still negotiating that amount.