OKC MAPS Economic Impact - Full Report

OKC MAPS PROJECTS – 25 YEARS

Smaller tracts with less than $150 million in total value but with large percentage gains between 2009 and 2017 include 1018 (Mesta Park, 49% gain), 1026 (Department of Commerce, 138% gain), 1036.02 (Police Department and Municipal Courts, 104.2% gain), and 1037 (Union Station, 47% gain). The smallest concentration of total property value is found in tract 1040 ($25 million) located south of I- 40 and stretching to the Oklahoma River. Much of the tract has been cleared for construction of the south section of Scissortail Park. Mostly small commercial structures are located within the tract, including about 100 housing units. New Downtown Square Footage . Growth is also taking place in the amount of total square footage of taxable space in the downtown study area. Figure 40 details total assessed square footage between tax years 2009 and 2017. In 2017, properties with a total of 40.85 million square feet (sq. ft.) were located in the study area. More than 5.9 million total sq. ft. were added from 2009 to 2017 – a 17% gain. Most of the gains in square footage are found in just six tracts. To the north, tract 1016 (far north) added 15.4% (+195,000 sq. ft.) to total taxable square footage. In the south, tract 1025 (St. Anthony Hospital, 58.6% gain, +1.0 million sq. ft.) and tract 1026 (Department of Commerce, 103% gain, +770,000 sq. ft.) posted gains of 50% or more in total square footage. Important but smaller gains among the southern tracts include tract 1030 (south OU Health Center, 29% gain, +636,000 sq. ft.), tract 1036.01 (Myriad Gardens and Civic Center, 38% gain, +2.5 million sq. ft.), and tract 1038 (Bricktown and Deep Deuce, 43% gain, +1.4 million sq. ft.). In tract 1036.01, Devon Tower comprises 1.8 million of the 2.5 million square feet of new footage reported and almost 20% of the 9.16 million total sq. ft. reported in the tract. Six tracts in the study area reported flat or declining total taxable square footage between 2009 and 2017. The most significant declines are in tract 1037 (Union Station, -26%, -382,000 sq. ft.) and tract 1040 (south of I-40 to Oklahoma River, -11%, -50,000 sq. ft.). Both tracts are undergoing significant demolition and change in land use. Smaller losses in square footage are reported in tract 1027 (north OU Health Center, -3%, -42,000 sq. ft.), tract 1091 (Automobile Alley to Cox Center, -4%, -300,000 sq. ft.), and tract 1036.02 (Police Department and Municipal Courts, -2%, -38,000 sq. ft.).

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