Oklahoma Marinas | Most Affordable

Back talking about our Oklahoma Marina our first Oklahoma Marina which was sky to cross timbers and we were talking about the private land that we purchased. This actually occurred in 2004. It was a 55 acre. Parcel and that was divided into 89 minimum half acre lots reason for the half acre is that there’s no sanitation or sewer system there on the lake. And so you’re using aerobic. Oklahoma Marinas. Anaerobic for those that don’t know is a system that takes the waste and basically is it like a little sewer system of itself that has its own little motor breaks everything down and then returns it has potable water that it can either be returned underground or above ground. So that was our first introduction to that type of technology. We’ve used that throughout our development at Sky to like we don’t have to use it at our other Oklahoma Marina. Keystone Harbor because at that facility we actually are tied directly into the city of Manford sewer system. So at Sky tuque our first major development was 20 acres of the 55 acres and that 20 acres ended up being a 30 lot track. And amazingly this was in 2004 real estate markets were pretty hot. And we found there was tremendous pent up demand to live on and have a big view a beautiful sky too like. So much so that we sold all of those 30 lots in a seven day period which is just amazing particularly now in a more normal economy to look back and see that kind of absorption some of the lots no doubt were were purchased on spec. But many of them were designed or lots that people were excited to have because they had a tremendous amount of view. And like I said there was an awful lot of demand for that type of. View and development what people were looking for and it turns out we sold these lots to 13 different states just pretty amazing. Of those. 13 different states we saw a lot coming in from California which I guess should be expected. Oklahoma Marinas. People that had family back in Oklahoma were selling a business or selling their now a very expensive California home and wanted to come to Oklahoma live on a lake and have easy access to shopping health care entertainment. Obviously it’s got to look like you’re 20 to 25 minutes from downtown you’re about 30 minutes from Midtown so you have dinner at Utica square you can go to the OK center and see Paul McCartney. I mean he you have all of that lifestyle if you have a medical emergency you’ve got world class facilities at St. Johns in Hillcrest and St. Francis very very close to you. So we saw these people coming in that just found us on the web back in 2004. We obviously didn’t even have the social media to the extent that we have it today. And yet they found they were looking for that lake view like lifestyle. Of course we had trails that we had developed that attached to the subdivision that would allow you to go down on the court lease and walk the shoreline and never leave cross timbers. That was a very unique feature that we were able to present. As these Californian’s Coloradoans you. Know we had a family from Alabama we had literally from these 13 states they came from all over obviously a number from Texas and Missouri Kansas as well as as people that lived as far away as Bartlesville that wanted to work at Philips and still live on the like. So we sold these first lots and a seven day period. We then within another year year and a half we developed phase 2 which turned out to be 34 lots. Oklahoma Marinas. Those sold in about a six week period. A little slower but still an amazing pace so 60 for the first 89 lots sold out literally in a number of weeks days and weeks. Then we developed Phase 3 in about 2007 and about half of it sold out. It was I believe 25 lots and it sold quickly but we weren’t particularly pressing on sales. And then the the big economic downturn occurred in 2008 2009 and we were left with about 12 lots which we have now sold down to just two lots haven’t pushed them very hard. But just a sign it has been a very successful development. Some of the homes in there have gone up to two even $3 billion. Some mansions now. The economic benefit of that has been very very pronounced in fact we did a. Press briefing just a few weeks ago with a story in the Tulsa World about the economic impact of cross timbers Marina. Again our first Oklahoma Marina and that analysis showed that we had had an impact. When you looked at a two mile radius of the cross timbers Marina our first Oklahoma Marina. Two mile radius in 2005 had a an assessed this is by the county Osage County assessor and assessed value of $16 million. In 2016 just 11 years later that exact same two mile radius now has an assessed value of 125 million. So better than an eight fold increase in terms of the the tax property tax benefits that have occurred from that first development. If you have gone out to the cross timbers marina. And had a memory of the history before we were there the development obviously not just in our development but all around. Has just been staggering and continue. So. The exciting thing about the economic benefit of the of our first Oklahoma Marina is that we have. Definitely seen that the schools are getting about a million and a half dollars per year. Additional that they weren’t getting back in 2005 before that Marina came into existence. So a big part of the demonstration like program was to measure economic and social benefit. And I’ll certainly be talking about the social benefits because we’ve done some things on the water with our our heroes our wounded warriors that we’ll talk about in a ensuing episode. So huge economic impact that continues. I don’t think it’s an exaggeration to say that that economic velocity will continue just as quickly over the next 11 years as it has over the past 11 years so we’re very proud of that fact and it certainly underscored the need for private development dollars to come in encored likes for the well-being of the of the community as well as the recreating enjoyment of the public. So after we got that development crossed a state started with phase one back in 2004 we opened our first Oklahoma Marina Cross Timbers Marina. In 2005 on Memorial Day. Now the Corps when we had made application there real estate office said I don’t believe that you can fill build and fill 100 slips. They said we’re very skeptical that there needs to be another marina on this like we literally built. Oklahoma Marinas. They approved it just a sign. We built 100 slips and they were full at the time that we opened with an enormous waiting list in the first few years of our operation. It was not unusual for us to have 60 or 70 on our white list. So starting in 2005 we opened with our ships door we opened with a little floating dock shop. And we saw that unbelievable surge in demand that led us to building. Today’s total of 517 Marina slips. Obviously there was tremendous need on that. Like for more amenities starting with an Oklahoma marina but all the way out to the ensuing development in 2006. We built and opened what is a five story lighthouse and that is a restaurant that’s two story in terms of food and bar service. The first floor is a pretty traditional restaurant but very very nice very clean as we try and maintain everything in an extremely clean fashion. And then the second floor is a little bit more fun. I would call it a bar all capitals with a food service. It has karaoke and oh I know a pool table some video games it’s more a relax and have fun with a big open deck looking out on the water downstairs. Oklahoma Marinas. Again a more traditional does have the small bar a bit of a more traditional restaurant dining experience down there. It’s been very very popular. Anybody that has that owns an Oklahoma Marina knows that food service and Emory Marina anywhere food service is a challenge because it is usually pretty seasonal. And even though we’re close to population our restaurant has traditionally not been open more than about six months out of the year. Just very very hard to get people to come out even though it’s got a beautiful view to drive 15 or 20 minutes. You know when the when the season is upon us however when it is the season and that’s usually from May to September the volume of business is so excessive that it pretty much carries you for the rest of the year. Oklahoma Marinas. So that’s been our Oklahoma Marina experience both Sky tuque as well as at Keystone like. Keystone. We have more expectation for the food service being more year round because the population is so much closer we’re literally within the city limits of Manford. But we have tremendously large highways running on each side and so the food service there should be able to stretch throughout the season. Well back on the sky to Marina we continue to add features as we develop one of the ones that I’ll talk about in our next segment are our cottages. Those were another good opportunity for us to environmentally do the right thing at the same time build something with staggering views that are very very popular. Those 14 cottages We’ll talk about here in the next segment the construction material that used and the setting and the popularity of them. So that was our our next project of consequence after our initial Marina ships door dock shop. And then the following year. The restaurant. So we’ll be back in the next segment to talk about those things.¬†Oklahoma Marinas