ROOMS TO GROW
The Omni sign soon could glow atop a sleek glass 19-story tower hovering over the Chesapeake Energy Arena, the new convention center and park.
The hotel, however, comes with a cost.
Oklahoma City Council members will be asked Tuesday to pursue a deal with Omni to build the 600-room headquarters hotel to tie into the city’s future $288 million convention center.
The proposal calls for $85.4 million in public assistance, with Omni financing the remaining $150.1 million of the $235.5 million hotel. In addition to the Omni deal, the city council also will see details of a proposal submitted by Marcus Hotels and Resorts and Mortenson, two parties that initially competed separately for the project but joined together earlier this year.
The second proposal by Marcus/Mortenson pitched a 600-room Marriott with a $248 million cost estimate that includes $105 million in subsidies.
Cathy O’Connor, president of The Alliance for Economic Development of Oklahoma City, led negotiations with what initially started out as seven competing development teams.
A committee appointed by City Manager Jim Couch that included council members David Greenwell and Larry McAtee met with the two finalists for 90 minutes each this week before picking Omni as their recommendation.
“The initial public subsidy proposed by Omni is significantly less than The potential deal with Omni coincides with discussion starting on another missing piece in the creation of a convention center – a request to use $10 million of MAPS 3 money to pay for a $35.2 million, 856-space parking garage on current site of an OGE Energy Corp. data center. The Oklahoma City Urban Renewal Authority, meanwhile, has acquired or is going through eminent domain on all the property required for the convention center and land adjoining E.K. Gaylord Boulevard that will be reserved for future development or additional surface parking. The lots immediately to the south of the convention center were acquired for future expansion of the convention center and will be turned into 500 surface parking spaces in the interim. what was proposed by Marcus and Mortenson,” O’Connor said. “That’s a big consideration. The other appeal is the ownership structure proposed by