Sega Gameworks will anchor a planned entertainment and retail site on the middle segment of Oklahoma City's Bricktown Canal, the site's developer announced this week.
Sega Gameworks, an entertainment concept that uses restaurants, bars, high-tech games and arcades to entertain its guests, is combining its successful theme with 14 movie screens for its Oklahoma City project.
Developer Randy Hogan and the company agreed upon a long-term lease for the $22 million project Monday. They anticipate a summer 2003 opening. Hogan also announced Monday he has a letter of intent with Bass Pro Shops for a 110,000-square-foot retail store as part of the canal development. While no lease has been signed for this project, Bass Pro Shops retail store officials said they expect the center to open in spring 2003.
Hogan continues to work on other potential additions to the development, including three buildings near the project's main plaza. Bricktown Entertainment has letters of intent with the Hal Smith Restaurant Group, the Marble Slab Creamery and Jamba Juice. Discussions continue with other restaurants and stores.
Offices and perhaps even a hotel may eventually be involved, bringing the total value of investment to more than $60 million. The pact between Sega Gameworks and Hogan's development firm, Bricktown Entertainment LLC, closes a search to find a replacement anchor tenant for the canal development project.
Bricktown Entertainment LLC is a partnership between Hogan Property Management LLC and Stonegate Management Co., which includes Brad Hogan, Mark Elgin and Ron Richey of Birmingham, Ala. The Oklahoma City Urban Renewal Authority initially sought proposals for canalfront land south of Reno and north of Interstate 40 in 1997.
In late 1998, Hogan secured a lease with Edwards Theaters that would have brought a 24-screen theater complex to the land. But a legal challenge to the deal stalled the project. Then Hogan was forced to drop Edwards in August just before the firm declared bankruptcy.
The Oklahoma City Urban Renewal Authority gave Hogan 300 days to find a replacement for Edwards. The local firm used every day but one to find the replacement. The deadline was today.
"It feels good to get the commitment secured for what we think will be a really great development," Hogan said. "There is no doubt that we are competing in a challenging national environment for these types of projects.
"It also helps to have a Bass Pro Shops committing to the site. That's truly a great step forward. Not only does it enhance retail possibilities for our project, but it does the same for Bricktown and downtown.
"This gives us two anchor tenants — not just one."
Gameworks, Hogan said, provides the same entertainment-based theme as Edwards, with the added twist of fun and games. The Sega Gameworks center planned for Oklahoma City includes a restaurant, bars, a bowling alley and the high-tech games — plus 14 movie screens as part of the package.
SOURCE:
Oklahoman.com
