Tallest Building In America Is Proposed for Oklahoma City

If you heard a high-powered developer was looking to construct America's tallest building, it's unlikely you would assume that Oklahoma City would be its proposed location. However, that's exactly what Los Angeles-based Matteson Capital is planning: A 1,907-foot-tall skyscraper that would eclipse New York City's One World Trade Center as America's tallest building. The building, known in plans as the supertall or legends tower, would change Oklahoma City's skyline forever.

The original plan for the supertall was for a 1,750-foot tower to be the centerpiece of a new development known as The Boardwalk at Bricktown. The supertall would be surrounded by three smaller towers of 345 each. All told, the Boardwalk at Bricktown would include 1,776 apartments and two separate Hyatt Hotels with over 800 rooms and another 85 luxury, private condominiums.

Matteson Capital recently announced plans to expand the supertall to 1,907 feet as a nod to the year Oklahoma achieved statehood. The new plan is about 5 million square feet, including 110,000 square feet of commercial space. The supertall's top floors will feature an observatory deck, restaurant and bar overlooking the city. There would also be a 17,000-square-foot waterfall/lagoon accompanying its signature boardwalk.

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Bricktown Is Already Exploding

With all the attention on growth in cities like Dallas and Austin in neighboring Texas, it's understandable you may not have realized Oklahoma City has also been coming of age. The Bricktown area of Oklahoma City is already a vital transit and entertainment hub. The NBA's Oklahoma City Thunder have their home arena in Bricktown, while numerous entertainment and dining options have also popped up nearby.

The area also benefits from having an Amtrak train station that brings thousands of travelers per day through the middle of Bricktown. Plans are in the works for a new soccer stadium in the area. With all that in mind, it's not hard to see why Matteson Capital and its partners are bullish enough on Oklahoma City to propose a project on such a grand scale.

Why Matteson Capital is so Excited About the Boardwalk at Bricktown

"Oklahoma City is experiencing a significant period of growth and transformation, making it well-positioned to support large-scale projects like the one envisioned for Bricktown," Matteson Capital CEO Scot Matteson said in a press release. "We believe that this development will be an iconic destination for the city, further driving the expansion and diversification of the growing economy, drawing in investment, new businesses and jobs. It's a dynamic environment, and we hope to see The Boardwalk at Bricktown stand as the pride of Oklahoma City."

The Deal Isn't Done Just Yet

Although Matteson Capital announced its new plans to great fanfare, it may be a bit early to book your trip to see the supertall up close. The project is so big that the Oklahoma City Council and Planning Commission would have to rezone the proposed site before it can move forward.

Matteson Capital is believed to be in the process of preparing an application to formalize that request. As of now, there is no early indication of whether the city will approve the plan, deny it or take a middle course by approving The Boardwalk at Bricktown on a smaller scale. If the project is fully approved, Oklahoma City will become the new home to America's largest building.

The fact that an outfit like Matteson Capital sees a bright enough future in Oklahoma City to propose a project of this magnitude suggests that there is potential upside in the market for real estate investors of all shapes and sizes. If Matteson is right, it may not be long before Oklahoma City is one of America's hottest real estate markets. At a minimum, Oklahoma City is a market worth keeping an eye on.

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