Developers say they’re set to start construction next spring on two 14-story hotels that, along with a planned 18-story condominium tower, willextend the downtown skyline south toward the Oklahoma River.
Construction on the $275 million development in Lower Bricktown isset to start about the same time asBoulevard Place, a nine-story apartment tower justto the west and next to the 17-story Omni Hotel.
Located at the corner of Renoand Oklahoma Avenues on what is now surface parking,the proposed 14-story Dream Hotel will feature 220guestrooms and suites, five dining and nightlife venues, including arooftop pool deck, bar and grille with askyline view.Next door will be a planned 14-story, 174-roomUnscripted Hotel with two dining options, includinga lower-level rooftop bar.
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Pending presales, an 18-story, 150-unit condominium tower will be built as well.Planning for the project started about two years ago, prior to the pandemic starting, with discussions between Randy and Brad Hogan, developers of Lower Bricktown, and California investor and developerScot Matteson.
“We hope to break ground in May,”Matteson said. “Our goal is to build all three towers at once. The market will dictate when the condo tower will get built. The lenders will require some pre-sales. We already have contacts and we feel like it will fill pretty quickly.”
The Dream hotel flag started as first-tier lifestyle operationwith two hotels in New York City, one in Miami and another in Bangkok, Thailand.The Dream hotels have since expanded into Nashville, Los Angeles and Doha, Qatar.
Oklahoma City, Dallas and Atlanta are among cities targeted for expansion.
“Oklahoma City had been on our radar for quite some time,” said Christian Glauser Benz, senior vice president of development at Dream Hotel Group. “Following the success of Dream Nashville, we recognized othermidsize citiesin the Midwest that were ripe for this type of product.”
Bricktown saw a rapid pace of hotel development prior to the pandemic with a 10thhotel, theRenaissanceHotel, set to open this winter.Hotels across the city cut operations or shut down in 2020 as did destinations throughout the country as COVID-19 shut down travel.
Several announced Bricktown hotels never got built, however, including three planned by Champion Hotels east of the Chickasaw Bricktown Ballpark.
At his latest State of the City speech, Mayor David Holt reported the industry is recovering with room tax collectionsbeginning to exceed revenues for the same period in 2019 before the pandemic started.
The city is expected to see even more visitation with the recent opening of the First Americans Museum and plans by the Chickasaw Nation to develop a $300 million resort next to themuseum and along the Oklahoma River.
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Altogether, just under $1 billion in downtown development is set to start construction in 2022.
“No longer is Oklahoma City just a place you sleep in if you’re driving from Little Rock to Albuquerque,” Holt said. “This is truly becoming a destination for meetings and tourists.”
Benz said the city’s new convention center and adjoining Scissortail Park, one block west of the hotel site, also played into his decision into expanding into Oklahoma City.
“We always have a long view on the market,” Benz said. “When the pandemic hit, we knew it was a situation that would take a year or two to sort out.”
Investors, Benz said, are meanwhile shifting their attention from coastal cities to emerging markets in the middle of the country.
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Plans call for the development to replace about 550 parking spaces, but each building wouldhave its own underground parking and plans include a 325-space garage for public parking.Hogan said the parking won’t be missed much as it only filled up during Thunder games and other major events.
The city has since opened an 1,100-space garage a block south of Paycom Center arena while Hogan is in talks with Urban Renewal to add 60 surface parking spots southofHarkinsTheaters on surplus right of way along Oklahoma City Boulevard.
Schematic design is underway at Cube3 Architects.The plan is designed to allow buildings to be built separately, if necessary, Benz said.The hotels, set to open in 2024, will be the first to open that are not a part ofMarriott, Hilton, Intercontinental orHyatt.
“Dream is basically the last independently owned boutique hotel company left,” Benz said. “The rest got bought by Marriottand Hilton. We are similar to Marriott or Hilton, but the real essence of this project is that this is a very high energy developmentwith a focus on restaurants, food andbeverage and nightlife. It will be a catalyst for downtown, not just a traditional hotel with rooms and showers. It will be an entertainment hub.”
Staff writer Steve Lackmeyer is a 31-year reporter, columnist and author who covers downtown Oklahoma City,related urban development and economics for The Oklahoman. Contact him at slackmeyer@oklahoman.com. Please support his work and that of other Oklahoman journalists by purchasing a subscription today atsubscribe.oklahoman.com.
