City Council Endorses Plan To Sell Santa Fe Parking Garage

By William Crum Staff Writer wcrum@oklahoman.comThe Oklahoma City Council agreed Tuesday on a plan to sell the largest of the downtown municipal parking structures, the 45-year-old, 1,518-space Santa Fe garage. Plans also are to sell a nearby city-owned surface lot in west Bricktown for construction of an 865-space garage. The transactions would add to downtown parking and assure spaces remain available for Thunder fans, but there would be a shuffling of options for the general public. The arrangements are driven by Continental Resources' desire to secure employee parking and BancFirst's need for parking for the old Liberty Bank tower. Continental Resources wants to lock in parking in anticipation of losing leased space beneath the Cox Convention Center when that complex is redeveloped. BancFirst is buying the Liberty Bank building, now called Cotter Ranch Tower, for its headquarters. Parking is essential to BancFirst's efforts to close on its $23.5 million contract for the 36-story Cotter tower, said City Manager Jim Couch. The Santa Fe garage would be sold to Continental Resources and BancFirst, through a joint ownership arrangement or creation of a new business entity. The surface lot would be sold to a new entity owned by Bricktown Parking Investors and BancFirst Corp., or a bank affiliate. Continental Resources and the Cotter tower are across Main Street from each other, adjacent to the Santa Fe garage, at 101 N E.K.