The Alliance for Economic Development of Oklahoma City is pressing forward with current and new projects that continue Oklahoma City's positive momentum. Since The Alliance's founding in 2011, Oklahoma City has experienced incredible gains in retail, commercial and residential development. Over the course of 2012, five major projects illustrate The Alliance's role in job creation and economic development:
1. Devon Energy completed their world headquarters in downtown Oklahoma City. The development occurred on a site owned by the Oklahoma City Urban Renewal Authority (OCURA), a partner of The Alliance, and resulted in the creation of Tax Increment Financing (TIF) District 8. TIF District 8 funded Project 180, which includes the renovation of the Myriad Gardens, Bicentennial Park, and the complete redesign of downtown's streets and streetscapes.
2. The Edge apartments in Midtown Oklahoma City brokeground in September 2012 with an expected completion date in Spring 2014. Sited at the former Mercy Hospital, this development received assistance from TIF District 2 and is a project of OCURA. The new apartments will host 249 units plus 8,000 square feet of street-level retail.
3. Boeing completed an expansion of their office facilities in south Oklahoma City. The development is part of the company's relocation of quality jobs from Long Beach, CA and Wichita, KS to Oklahoma City spurred by the City of Oklahoma City's Strategic Investment Program (SIP), which is overseen by The Alliance.
4. LEVEL Urban Apartments completed phase two of construction in downtown's Deep Deuce District. The development, located in TIF District 2, was fully leased at completion in June 2012 and is home to downtown's new grocer, Native Roots. The developer is now looking at additional phases adjacent to the site.
5. NBA superstar Kevin Durant's restaurant, KD's, broke ground in 2012 and is expected to open in late 2013. The 10,000-square-foot restaurant is an OCURA project that will be located in Lower Bricktown and will seat 320 people with additional private dining rooms.
These five developments are just a snapshot from The Alliance's contributions to the growth and success of Oklahoma City. For more information on current and future projects, follow The Alliance Blog and watch for future issues of Building Together.