Stage Center OKC

Preservation Oklahoma

The executive director of a historic preservation nonprofit says he will not appeal a decision to demolish a historic downtown theater complex.

Preservation Oklahoma executive director David Pettyjohn says he's disappointed the Oklahoma City Board of Adjustment voted to sustain the decision by the Downtown Design Review Committee to demolish the Stage Center, but he won't appeal the decision.

Provided / Kestrel Investments, Inc.

The developer of a planned 14- to 16- story high-rise in downtown Oklahoma City says OGE Energy Corp. will be the anchor tenant of the building that will replace a downtown theater complex known as Stage Center.

Kestrel Investments announced Tuesday that it will ask the Downtown Design Review Committee for a demolition permit on the 3.15-acre property where it will build the tower.

Kestrel's plans include multi-level parking and leased space for retail, restaurants and other businesses in addition to OGE Energy.

The former Stage Center theater in downtown Oklahoma City has been sold and the new owner says a 20-plus story office building will be constructed on the site. 

Kestrel Investments, Inc. said in a news release Friday that it bought the 3.15 acres for $4.275 million. Kestrel says plans for the building are still being developed — but that is will include a parking garage, public space and perhaps retail space.

An estimated cost of the project has not been determined.