New Oklahoma City Skyscraper

[The Ghostbuster]

The New York Post has an article about a new skyscraper proposed to be built in Oklahoma City: https://nypost.com/2024/04/17/real-estate/oklahoma-city-residents-question-the-planned-legends-tower/. It would be the tallest tower in the United States. I think it would be a monstrosity that would be better suited for being built in Chicago, Los Angeles or New York City.

[Rothman]

Ugh.  Tbought this forum was going to be immune from this nonsense.  But, alas, the con man developer has now invaded whatever area of the Internet I frequent.

[Scott5114]

Not going to happen for the simple reason that OKC-area banks are notoriously risk-averse (there are virtually no five-over-ones in the OKC area because the banks consider it a risky, unproven venture despite them existing in practically every other US city). Non-OKC area banks generally don't like to invest in OKC-area projects because formulas used to calculate ROI elsewhere in the country don't return realistic results due to OKC's low density. (This is also why many national chains don't have locations in OKC.)

[brad2971]

Not going to happen for the simple reason that OKC-area banks are notoriously risk-averse (there are virtually no five-over-ones in the OKC area because the banks consider it a risky, unproven venture despite them existing in practically every other US city). Non-OKC area banks generally don't like to invest in OKC-area projects because formulas used to calculate ROI elsewhere in the country don't return realistic results due to OKC's low density. (This is also why many national chains don't have locations in OKC.)

Considering the cascading effects of the Penn Square Bank failure on the banking system back in 1982, those OKC-area banks are right to be risk-averse. Yes, while it may seem that sense in certain areas of the country may be short, it's not too bad to have memories that are long. 

[Scott5114]

Sure, but the Penn Square bank failures had more to do with the oil industry than real estate.

[Henry]

It'll go the same way as the Chicago Spire, which would've dwarfed One World Trade Center by some 200 feet and change.

[Road Hog]

With the commercial office space situation post-covid, I'd be stunned if there's another major skyscraper not already in the pipeline built in the next 20 years.

[GaryV]

I think it would be a monstrosity that would be better suited for being built in Chicago, Los Angeles or New York City.

Because those cities need or deserve monstrosities?

I agree with other posts, that unless OKC is vastly different from other cities, large office or residential buildings are seldom needed any more. GM is moving out of the RenCen in Detroit, and they don't know what the future will hold for those buildings. Just that it won't likely be office space, and they don't know if residential would be viable.

[epzik8]

With the commercial office space situation post-covid, I'd be stunned if there's another major skyscraper not already in the pipeline built in the next 20 years.

Pretty bold prediction honestly.