New Oklahoma basketball arena a big step closer to reality

It's been over a year since plans of a new $1.2 billion entertainment district were first revealed, and this past June the Norman Planning Commission approved the plans with the expectation that the Norman city council would shortly follow with its vote of approval.

The city council vote never came, slowed down over the summer months by a couple of procedural delays. On Tuesday, at a meeting that began at 6:30 p.m. and finally concluded after 1 a.m. on Wednesday, the city council approved the plan, by a 5-4 vote, for what would become the Rock Creek Entertainment District.

The plans for the new entertainment district, to be located north of University Town Center, near the intersection of 24th Avenue Northwest and Rock Creek Road, will include a new 8,000 seat arena for Oklahoma men's and women's basketball and gymnastics programs. The first phase of the development will also include retail shops, restaurants, office space and new and multi-family housing units.

OU officials were hopeful back in June, when the planning commission approved the plans, that the district would be ready to host OU athletics events by 2027 or 2028, but now with the delays getting to the city council vote, those dates will most likely be moved back.

The University of Oklahoma would be the anchor tenant of the arena and utilize about 24 percent of its availability every year for sporting events. The other 76 percent would be used for conventions, concerts and other activities.

Oklahoma men's basketball head coach Porter Moser has been a strong advocate for a new OU basketball arena during the three seasons he has been at Oklahoma.

"I'm extremely excited for the city of Norman, our community and Sooner Nation," Moser said following the city council approval. "The new facility will be a game changer for our men's basketball program in recruiting and on game day, providing a world-class event space and a much needed improvement in the fan experience."

Under the current proposal, the city of Norman will be asked to contribute, at most, $600 million toward the development with the rest coming from tax increment financing (TIF). OU will contribute $100 million toward the $330 million total project cost of the arena. The remaining $230 million would be paid by the TIF.

The Lloyd Noble Center, which opened in 1975, is the home of OU basketball and gymnastics and has a current capacity of 10,967, The new proposed arena will seat fewer fans, but will be more in line with attendance trends. In 2023-24, the LNC averaged 7,670 for men's basketball games and 4,409 for women's home games.

While the city council approval is a major step in the process, the development plan is not a done deal just yet. The Tulsa World is reporting that "the probability of a referendum could impact the timeline of the arena's completion further. Based on the numerous commentors at the (city council) meeting who were against the TIF, it seems highly likely that citizens will file a petition to repeal the city council's vote."