OKC MAPS Economic Impact - Executive Summary

OKC MAPS PROJECTS – 25 YEARS

Demographic Structure and Change The focus of the MAPS projects on placemaking was expected to establish the foundation for a vibrant downtown area where residents can live, work and play within the central core of the city. In turn, these changes were expected to introduce substantial change in the demographic makeup of the downtown area. Since about 2009, marked acceleration has taken place downtown in population and housing market growth. The area’s residents are also becoming younger, more educated, higher earning and more racially diverse. The full report provides a detailed evaluation of the changing demographic structure of the downtown study area and evaluates changes since the 2009 report. Key findings from the report include: Population Population growth in the downtown study area accelerated in 2010 following decades of relatively weak gains. • Total population in the study area increased 20.8 percent between 2010 and 2017, adding nearly 2,200 new residents. • Adjusted for residents living in group quarters, population in the study area increased by more than 1,000 new residents (14.9 percent gain) between 2010 and 2017. Population growth in the downtown study area is now far outpacing the broader region. • The 20.8 percent gain in the study area since 2010 is more than double the 7.7 percent gain countywide and four-fold the 4.6 percent gain statewide in the period. • Adjusted for residents in group quarters, the 14.9 percent study area gain is roughly twice the rate of county population growth (7.7 percent) and more than triple the state gain (4.6 percent). The downtown area is steadily moving toward a critical mass of residents. • Total population in the downtown study area reached a reported 12,603 residents in 2017. • After adjusting for residents living in group quarters, an estimated 7,808 persons not in group quarters now reside in the downtown study area. Housing Along with population, housing growth in the downtown area accelerated beginning in 2010. • County assessment data suggest that approximately 2,700 housing units were added in the downtown study area between tax years 2009 and 2017, a 55.3 percent gain in the period. • Three-fourths of new downtown residential units added since 2009 are found near SSM Health St. Anthony Hospital (1,052 units) and in the Bricktown/Deep Deuce area (1,006 units). • A total of 7,635 housing units are reported in the downtown study area in tax year 2017. The downtown housing market remains heavily rental, with vacancy rates falling over time. • Currently, approximately only one-fourth (23 percent) of total housing units in the study area are owner occupied. Almost 60 percent are occupied by renters, with 18 percent vacant.

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