Quote:
Originally Posted by Dylan Dude
Wow looks like it's happening!
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It's just for the smaller towers.
I'm rooting for the 1,900ft tower to be built, but honestly I don't see how they finance it. The building will consist of the following:
350-key Hyatt hotel
1,776 apartments
110,000+ square feet of retail stores and restaurants.
observation deck
Demand is there for the hotel, would would also induce demand for the retail, restaurants. Observation deck (with bar) will also do well. However, there is no way the financing is going to work out for the 1,776 apartments. I saw an estimate online that the tower will cost $770 million, with the entire complex costing $1.6 billion. There is no way there is that much demand and the rents would need to be higher than anything in OKC to justify the cost. If they go the condo route, are they really that much demand?