Greater Oklahoma City is in the geographic center of North America equidistant from the east and west coasts and major trade partners of Canada and Mexico. The ten county region is at the crossroads of the U.S., sitting at the heart of three major national highways on the NAFTA corridor.
There's a reason Greater Oklahoma City is such a great place for business: Location. The ten county region is positioned within a day's drive of the rapidly-growing south-central region (OK, TX, AR, LA) projected to grow more than 44% during the next 25 years.
fDi (Foreign Direct Investment) magazine ranked Oklahoma City #1 on its list of most cost-effective large cities in the U.S. (pop. between 500,000 and 1 million), due to factors ranging from economic potential to quality of life and business friendliness.
(April 21, 2009)
The ProCure Proton Therapy Center is set to open in northwest Oklahoma City in July, but the center currently doesn't have too many neighbors.
There is a need for businesses around the center, and one of the most immediate needs is for cancer patients and their families to have a place to stay during treatment, especially if they are from out of town.
"There is going to be a need for a hotel or lodging facility," said Roy Williams, president and CEO of the Greater Oklahoma City Chamber. "The obvious development is some kind of extended-stay."
To serve that need, construction on a 120-room Hawthorn Suites is set to begin later this summer and will be located south of the cancer center.
Irmon Gray, with NAI Sullivan Group, said the hotel is being developed and built by Oklahoma investors BEKM Holdings LLC. The hotel is designed to be an extended-stay with shuttle service to and from the cancer center.
The hotel is part of a development called MacArthur Crossing at the southeast corner of Memorial Road and MacArthur Boulevard. Completion on the first office building at the 18-acre site is set for completion in September when Pete Swan moves his dental practice.
Susan Davis Jordan, with NAI, is handling marketing for the project, and said Arby's and Carl's Jr. plan to begin work on restaurants at the site later this year. The price per square foot on the buildings ranges from $185 to about $205. The developers are not planning any speculative buildings and with the slowdown in the market do not have immediate plans for additional buildings.
Williams said he hopes the cancer center will encourage development in the area, particularly to serve the center's employees, patients and families.
"You're going to see a gradual development of that whole area, a lot of which will pertain to people directly tied to treatment at those facilities," he said.
Brent Conway, with CB Richard Ellis Oklahoma, said the center will likely help support retail and hotel businesses in the area, but likely will not spur any new medical office buildings, with most of the work at the center being self-contained.
"I don't know that there's going to be a tremendous drive for MOB clustering as a result of the ProCure center," Conway said. "But a center like ProCure is going to be a very attractive anchor to any type of future development."
The center will be the sixth proton therapy center in the United States and will be on the Integris Cancer Institute Campus. ProCure is part of the Indiana-based ProCure Treatment Centers, founded in 2005.