25 years of public and private investment in Oklahoma City
About this study | 4 |
About the authors | 4 |
I. MAPS Projects | 5 |
MAPS Projects - Structure and Status | 8 |
MAPS (Metropolitan Area Projects) Downtown revitalization and civic arts/entertainment venues | 8 |
MAPS for Kids Revitalization of public school infrastructure | 8 |
MAPS 3 Downtown infrastructure development and health/recreation venues | 9 |
Other Related City Development Efforts | 10 |
II. Downtown Study Area – Demographic Profile | 12 |
Demographic Structure and Change | 15 |
Population | 15 |
Population growth in the downtown study area accelerated in 2010 following decades of relatively weak gains. | 15 |
Population growth in the downtown study area is now far outpacing the broader region. | 15 |
The downtown area is steadily moving toward a critical mass of residents. | 15 |
Housing | 15 |
Along with population, housing growth in the downtown area accelerated beginning in 2010. | 15 |
The downtown housing market remains heavily rental, with vacancy rates falling over time. | 15 |
Rents remain low relative to many central cities but have risen sharply in key downtown census tracts. | 16 |
Owner-occupied housing represents a declining share of the downtown market, but valuations are rising sharply in key census tracts. | 16 |
A significant share of the city’s early legacy housing stock remains in place in the study area. | 16 |
Demographic Profile: | 16 |
The population of the downtown study area remains relatively young and the median age is falling. | 16 |
Declining school enrollment in the study area reversed along with population beginning in 2010. | 16 |
The study-area population is far more racially diverse than the surrounding region. | 17 |
The average level of education in the downtown study area is relatively high but is highly variable across census tracts. | 17 |
Median household income in the downtown study area is relatively high compared to the county, state and nation. | 17 |
The disability share in the study area is above both the national (12.6 percent) and county (13.6 percent) shares but falls below the state share (15.9 percent). | 18 |
The downtown study area has a very high share of management, business, science and arts occupations relative to the county, state and nation. | 18 |
III. Downtown Study Area - Economic Profile | 19 |
Employment | 19 |
Much like recent population gains, a distinct acceleration in downtown job growth has taken place since approximately 2009. | 19 |
However, most new jobs in the downtown study area since 2009 were filled by workers who live in Oklahoma County. | 19 |
Despite large and growing numbers of in-commuters to downtown, growth in employment of residents who live in the study area has been even stronger. | 20 |
The growth rate for downtown jobs has been larger and more persistent for residents who live in the study area versus commuters coming from outside downtown. | 20 |
Recent growth in the number of workers who both live and work downtown is found almost exclusively among workers in the highest wage category. | 20 |
ZIP code-based employment estimates for the study area similarly suggest a surge in downtown hiring in recent years following an extended period of relatively stagnant business activity. | 20 |
Payroll at firms operating in the four primary ZIP codes similarly accelerated beginning in 2009. | 21 |
Recent downtown payroll gains far exceed historical gains. | 21 |
Payroll gains in the study area are more than double the pace of reported employment gains in the period, suggesting rising pay per worker in the study area since 2009. | 21 |
Business establishment growth in the U.S. and in many states has been sluggish for more than two decades but resumed growth in the downtown study area since 2012. | 21 |
The average size of business establishments in the downtown study area continues to increase. | 21 |
IV. MAPS Investment – Public and Private | 22 |
Public Investment–MAPS, MAPS for Kids, MAPS 3 | 22 |
Total Public and Private Investment | 23 |
Private Investment and Property Market Valuations | 25 |
Downtown Office Market | 26 |
Downtown Residential Market | 27 |
Bricktown Property Valuations | 28 |
V. Lodging, Tourism, and Cultural Attractions | 30 |
Lodging | 30 |
Tourism | 31 |
VI. Downtown Transportation | 36 |
Oklahoma City Streetcar | 36 |
Changing Downtown Commuting Patterns | 36 |
Streetcar Area Economic Profile – Three-Block Impact Zone | 36 |
VII. MAPS Evaluation | 40 |
Key Policy Findings | 40 |
Conclusion | 42 |
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