Posted Jul 29, 2010, 4:28 PM
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Devon: Building on a dream of expansion
Construction of Devon Energy Corp.'s new tower is on schedule. With the tower now six stories high, contractors expect to start adding the glass exterior in September.BY STEVE LACKMEYER 0
Published: July 29, 2010
Devon Energy Corp. Executive Chairman Larry Nichols admits he's among the crowds gazing up at the downtown skyline and not quite believing what he sees.
Construction on Devon Energy tower on Wednesday in downtown Oklahoma City.
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Devon: Building on a dream of expansion
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Future uncertain for
• Devon Executive Chairman Larry Nichols said discussions continue with multiple potential buyers for Devon Energy's current headquarters at 20 N Broadway. One of potential buyers would involve the relocation of a corporate headquarters, but would not provide further details, he said.
• Completion of the former City Center West Garage expansion has freed 1,500 spaces in other downtown garages that Nichols said he hopes will compliment efforts to lease vacant office space.
• Nichols said he is concerned about reports that First National Center is facing potential foreclosure (his company leases several floors in the complex). He called the building iconic, but added that he has no answers for its long-term future.
Online
To watch Larry Nichols talk about the new Devon Energy tower, go to NewsOK.com and search "Devon Energy.”
This week marked a turning point in the schedule for construction of Devon's new 50-story headquarters. The tower has slowly emerged toward the top of the neighboring Colcord Hotel, but with the sixth floor complete, the pace is about to pick up.
"It's significant — it completes the main structure, the foundation, and now we'll proceed with one new floor every eight days,” Nichols said. "We will hit 800 feet next spring, which will make it the tallest building in the state.”
Construction of the adjacent "garden wing” building to the west of the tower is under way and work will begin on the rotunda and auditorium this fall. All three buildings will top out in early 2011.
In September, the glass facade will begin to be placed on the tower, which Nichols expects will be the first opportunity for downtowners to see how the skyscraper will transform the skyline.
"When you've spent a couple of years working on plans,” Nichols said, "and you've seen all the drawings and renderings — to see it coming up and say, 'Yes, that's what we wanted to do' … it's exciting.”
John Wood, project supervisor with Hines (tower developer), reported the project is on schedule and the rough economy has kept construction bids at or under budget.
With about 500 people employed on the job site, Nichols said he's not surprised to see reports that the city's finances are stabilizing.
"Our project is a part of that uptick,” Nichols said. "The things we're buying, we're buying in Oklahoma City. We designed it that way.”
Assistant City Manager Cathy O'Connor added that the tower project is in a sales tax increment financing district, which will redirect revenues back into the Project 180 reconstruction of downtown streets, parks and public spaces.
"Obviously with all these people working downtown, buying lunch, and with their expenditures on materials, yes, it's part of the uptick in the city's revenues,” O'Connor said. "We've got a lot of good construction projects going on right now, that helps things.”
Read more: http://www.newsok.com/devon-building-on-...dline_local-financial-news#ixzz0v5btxxuZ
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