River Hotels (Oklahoma City, Meridian, May: fit in, houses, construction)

[happytown]

By Steve Lackmeyer
Business Writer

With a major "investment” along the Oklahoma River being announced today by Devon Energy, hotelier Jeff Penner can think of no better time to start construction of the first two hotels to directly face the waterway.



Details of the announcement are being kept a secret, but Penner says he has seen enough momentum along the restored river already to inspire investing $40 million on up to four hotels adjacent to a Meridian Avenue boat landing being built by the city for a boat service launching this fall.

"The river is the deciding factor we are doing this,” Penner said. "If the boat ramp weren't here, we probably wouldn't be doing this.”

Site preparation has already begun for a 97-room, four-story Staybridge Suites and a 143-room, six-story Holiday Inn. Penner, a partner in the venture that also includes hotelier N.G. Patel and Patriot Hospitality LLC, said negotiations are underway with franchises to build two more hotels along the stretch between the river and SW 15 just east of Meridian Avenue.

Penner said he has worked closely with Pat Downes, development director for the Oklahoma City Riverfront Redevelopment Authority, to ensure the hotels fit into long-term plans for the waterway.

"We've made major concessions we ordinarily wouldn't have,” Penner said. "For example, it was important to Pat Downes that we not having parking facing the trails. And we won't ... We definitely intend to play off the river. This Holiday Inn has a lounge that sets off a patio that will overlook the Oklahoma River. Our goal is to set this in a park-like setting along the river.”

Penner said he hopes restaurants will follow suit and he foresees the area becoming the west anchor for the river parks.

The site itself would ordinarily not be an ideal candidate for development. Penner's group is spending $1.2 million to remediate debris dumped on the property in previous years. Without the city's investment in the river, Penner said his group probably wouldn't have considered such an investment.

Such investment is no surprise to Ron Norick, who as mayor in 1993 convinced voters to pass the Metropolitan Area Projects that included construction of dams, trails and other amenities along a waterway that was for decades derided as an ugly ditch that needed to be mowed three times a year.

Since the MAPS improvements on the river were completed, the city has seen a wave of ensuing investment, including the Chesapeake Boathouse, the American Indian Cultural Center, a Dell office campus, announcement of three boathouses by area universities, Penner's hotels, and today's announcement by Devon Energy.

Norick also anticipates big plans are in store for the property Chesapeake Energy recently purchased along the river east of Western Avenue — which is across from the former Downtown Airpark being redeveloped by former Mayor Kirk Humphreys. Norick predicted Devon's investment will help take the river to the next stage of development.

"It's huge,” Norick said. "This to me has got to be the final piece of the puzzle to the river. We have the dams, we have water impounded, we're building docks and this announcement will add the final piece to the river.”

Larry Nichols, chief executive officer of downtown corporate anchor Devon Energy, said the river is a prime opportunity to continue Oklahoma City's renaissance.

"The Oklahoma River is the most exciting redevelopment project in Oklahoma City right now,” Nichols said. "Enthusiasm that originated downtown through the MAPS projects is extending to the river where there is great potential for future growth. The river is an important part of our history and it remains an important aspect of our continuing development into one of the nation's great cities.”


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[FutureArchitect]

Oh!!
Ive seen the Holiday Inn!
Its accross the street from Crabtown.
Its under construction.
Looks Decent.