An application being filed this week with the Oklahoma City Planning Department asking to raze downtown's Stage Center reveals the property is set to be developed as a 14- to 16-story tower that will become the new headquarters for OGE Energy Corp.

In an interview with The Oklahoman, Rainey Williams Jr., president of Kestrel Investments, said the $100 million project will also likely include a second tower, eight to 12 stories high, that will be separately developed as either housing or a hotel.

A conceptual master plan shows both towers will adjoin a multi-story parking structure that will include shops and restaurants facing Hudson and Sheridan Avenues. A daycare and play area are proposed along the south side of the garage facing the Festival Plaza that each year is home to the Festival of the Arts.

Williams said his current timeline calls for construction to begin in 2015 with completion in 2017.