OKC MAPS PROJECTS – 25 YEARS
valuations downtown along with an approximately 5% increase in the 14.6 million square feet of taxable office space already in the study area. Downtown Office Space by Tract . Figure 42 illustrates the distribution of taxable office space by square footage and market value across the Census tracts in the downtown study area in 2017. More than two- thirds (68%) of total office square footage in the study area is in just two tracts – 1091 (Automobile Alley to Cox Center, 4.2 million sq. ft.) and 1036.01 (downtown including Myriad Gardens, 5.7 million sq. ft.). Four other tracts have slightly less than 1 million square feet of office space each – tract 1032 (National Memorial and County Jail, 823,000 sq. ft.), tract 1030 (south OU Health Center, 770,000 sq. ft.), tract 1025 (St. Anthony Hospital, 710,000 sq. ft.), and tract 1038 (Bricktown and Deep Deuce, 780,000 sq. ft.). All other tracts have less than 500,000 square feet of office space. Valuations are more highly concentrated than square footage, with more than half the total value of office space (59%) now reported in tract 1036.01 in the business district where Devon Tower is located. Tract 1091 (Automobile Alley to Cox Center) is home to 29% of total square footage but represents only 16% of total office space valuation. Tracts 1036.01 and 1091 account for a combined 74% of total office valuation in the study area. Relatively little office space is in tract 1018 to the north (Mesta Park, 66,000 sq. ft.). Similarly, southern tract 1037 (Union Station, 55,000 sq. ft.) and tract 1040 (south of I-40 to Oklahoma River, 16,000 sq. ft.) have little existing office space. Office valuations per square foot are highest in three southern tracts – tract 1026 (Department of Commerce, $112), tract 1036.01 (downtown including Myriad Gardens, $115), and tract 1038 (Bricktown and Deep Deuce, $101). Relatively low office space valuations under $40 per square foot are found in residential tracts 1017 ($33, Heritage Hills) and 1018 ($37, Mesta Park) to the north; southern tracts 1027 (north OU Health Center, $37) and 1030 (south OU Health Center, $22); and tract 1040 south of I-40 to the Oklahoma River ($14).
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