OKC MAPS PROJECTS – 25 YEARS
in 2009 and 2017. Figure 39 provides detailed valuation estimates for each Census tract in the study area at two-year intervals. The largest percentage and absolute gains are found in tract 1036.01 (downtown and Myriad Gardens, 254% gain). This large gain reflects the completion of Devon Tower in the central business district in late 2012. The more than $700 million office complex ranks as the 49th tallest building (844 feet) in the U.S. and is now the dominant structure in the downtown Oklahoma City skyline. 46 Other tracts posting a more than doubling in property valuation in the full period include tract 1025 (St. Anthony Hospital, 205% gain), tract 1026 (Oklahoma Department of Commerce, 138% gain), tract 1036.02 (Police Department and Municipal Courts, 104% gain), and tract 1038 (Bricktown and Deep Deuce, 125%). All four of these tracts are experiencing visible and significant revitalization including both redevelopment of existing structures and substantial new construction. By increase in dollar value, the largest valuation gains are reported in tract 1036.01 (downtown and Myriad Gardens, $710 million) and tract 1038 (Bricktown and Deep Deuce, $349 million). Other property value gains of $150 million or more are found in tract 1025 (St. Anthony Hospital, $180 million) and tract 1091 (Automobile Alley to Cox Center, $157 million). Figure 39. Total Market Value of Assessed Property by Census Tract
1,200
$Millions
2009 2017
989.5
1,000
800
628.6
600
495.0
400
337.7
279.5
279.6
266.9
249.7
232.9
225.7 184.2
202.0
181.2
140.5
156.0
110.8 104.2
200
140.0
143.5
112.6
94.4 87.4
69.8
24.8
58.7
54.3 70.9
16.5
0
1016 1017 1018 1025 1026 1027 1030 1091 1032 1036.01 1036.02 1037 1038 1040
Source: Oklahoma County Assessor and City of Oklahoma City Planning Department
The greatest concentration of total property value is now located in tract 1036.01 ($990 million) in the business district following completion of Devon Tower. This is up from less than $300 million in total value as recently as 2011. Tract 1038 (Bricktown and Deep Deuce, $629 million) is now home to the second highest total value of taxable property. Prior to the completion of Devon Tower, tract 1091 (Automobile Alley and downtown including the Cox Center, $495 million) contained the greatest total amount of taxable property but now ranks third. All other tracts other than 1040 (south of I-40) in the study area are home to taxable property valued at $100 million or more.
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