OKC S T R E E TCA R : I NV E S TMEN T I MPAC T P U B L I C & P R I VA T E I N V E S T M E N T S U C C E S S The three-block impact zone referenced in the study was determined by the City of Oklahoma City Planning Department. Within the three-block impact zone around the streetcar route, there has been more than $1.6 billion value in public and private investment since 2011, the year the steetcar route was announced. • Private investment ($801.9 million) • Public investment ($806.8 million) includes the Oklahoma City Convention Center, Scissortail Park, Project 180 and public infrastructure improvements. P R I VA T E P R O P E R T Y VA L U A T I ON & S Q U A R E F OO T AG E I N C R E A S E
• Private property values within the three-block impact zone have grown by 115 percent since the route was proposed in 2011. On a square-footage basis, values are up 80 percent over the same time. • The taxable market value of private properties along the streetcar route increased more than three times the rate of citywide property values since 2011. • Since 2011, total square footage within three-block impact zone is up 4.2 million square feet. 1.9 million square feet of that growth is located in the first block, with one million and 1.3 million located in the second and third blocks, respectively. • An average of more than 730,000 square feet of space has been constructed annually since 2011 (commercial and residential).
$ 2 . 5 B
$ 1 .1 B
TOTAL TAXABLE MARKET VALUE OF PRIVATE PROPERTY (within three blocks of streetcar route)
G R OW T H S U MM A R Y Since 2011, the area within three-block impact zone of the streetcar route has gained:
• $1.6 billion in total public and private investment • Approximately 5,700 jobs (16 percent increase from 2011-2015) • 1.54 million square feet net increase of office space
• 21 residential developments with 1,860 new housing units • Seven new hotels with 833 hotel rooms
Streetcar envisioned in EMBARK’s Regional 2030 Fixed Guideway Plan, the blueprint for public transit’s future in central Oklahoma.
OKC residents passed the MAPS 3 initiative to self-fund a modern streetcar system in the downtown area.
EMBARK convened a multiagency collaboration about transit oriented development (TOD) to conduct an economic impact assessment and projections study.
Proposed streetcar route announced.
Made with FlippingBook - professional solution for displaying marketing and sales documents online