The Sunday Daily Oklahoman recently had a whole series of articles based on asking various city leaders what Oklahoma City was going to be like in the year 2033. They interviewed a whole host of community leads, from the mayor to top business owners and CEOs, and others.
What stood out from a real estate perspective were a few points:
1) Everyone is expecting massive development and an explosion of the downtown area. The biggest potential for new grouth may actually be south of downtown along the Core to Shore Downtown Park, which is located along Robinson Avenue. The skyline will change again as at least a few more skyscrapers are constructed.
2) Oklahoma City is poised for continued strong population growth. There are many reasons to expect Oklahoma City to continue to attract people from all over the United States because of our strong economy. More major employers will be attracted to Oklahoma City because of how much better the quality of living has become due to the remake of this community over the last 20 years.
3) Right now, Oklahoma is the fourth largest producer of natural gas in the nation. Because of that, Devon Energy, Sandridge Energy, Chesapeake, and many other oil and gas companies have their headquarters here in Oklahoma City. Larry Nichols, CEO of Devon Energy, points to improved technology driving much of the recent oil and gas boom. He projects that improved technology will continue to drive growth in the industry…which mean continued growth in the Oklahoma City economy. I found it interesting that he is quick to differentiate the current oil and gas boom from the one that occurred in the late 1970’s. Oklahoma City’s economy is much more stable now because it is not so dependent upon oil and gas.
It seems clear what these things mean for us who hold real estate in the Oklahoma City area.
I have yet to find a safer, better way to invest money than into Oklahoma City real estate.
And with any luck, the Oklahoma City property management company that own and operate, OKC Home Realty Services will be right there in the thick of it.
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