OKC Districts Fuel Mutual Economic Growth

New businesses continue to pop up around the metro Oklahoma City area, attracting different clientele in different districts.

Some might think that growth in one district equals a decline in another, but city business trackers say the opposite is true. Downtown OKC, Inc. vice president Jill DeLozier says this year's success is unprecedented with an average property value increase of 15% citywide.

DeLozier says individualized districts are helping rather than competing for business.

“In Bricktown, its assessed value grew by 35% in one year, which we’ve never seen. And Midtown was 38%,” DeLozier told News 9.

DeLozier points out that the city is lucky urban renewal only focused on the center of downtown, allowing places like Midtown and Automobile Alley to retain their historic identities.

“Now it’s a trend nationwide, of course, to really localize and create experiences that are different from each other, but still work together for the greater good of the city,” she said.

The developers at Midtown Renaissance have revitalized nearly 40 old buildings in the past 10 years, and are just now able to start planning for new construction.

“There’s almost more pride when you have an historic building versus a new building because it tells a story,” said Firm partner Chris Fleming. “As the city has grown over the last, let’s call it 10 years, and these character districts have become more and more established, you end up with a lot more variety and a higher quality of life for everybody.”

The newfound success in these smaller districts has not been ideal for some, though. A few businesses in the original entertainment hub of Bricktown have closed their doors, making way for something different.

“Some of them were able to keep up with the trends and rebrand themselves and stay in business and others decided it was time to move on,” said DeLozier.

Developers believe Oklahoma City will continue to flourish as long as there is space to expand. You can expect to start seeing newly designed buildings that complement the old in years to come.