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.
The Stage Center has been closed since being flooded in 2010. It was designed by the late John Johanson and has been praised in the international architecture world and featured in architectural textbooks.
Kestral President Rainey Williams said the Stage Center is "unfortunately ... not a useable space."
