BoK Center, OneOk Field, and road projects have equaled over $300 million public dollars into downtown in the last ten years. Add to this almost every new apartment and hotel has been given subsidy or no interest loans and I would say that it is equal to the discretionary funding of all the rest of Tulsa combined.
Tulsa is 192.1 square miles and downtown is three square miles.
I have supported everyone of those dollars spent downtown to date, but at some point they are going to have to grow on their own.
Not to pile on, but I think your point has some merit but ignores a number of issues unique to downtown, some of which were made above.
First, while I don’t think we need any big dollar items in the near future, we cannot stop investing in downtown if we want it to achieve its full potential. Roads still need to be improved and modified to enhance walkability, one-way streets converted to two-way streets, downtown public transits needs to be developed, affordable housing will likely require some form of subsidy, etc.
Second, focusing on downtown’s geographic size as compared to the metropolitan area as a whole misses the point. Downtown is the focal point and it the areas single most important asset that drives regional growth in a way no other part of town ever can.
Third, that $300 million was not at the expense of other parts of Tulsa. If the BOK is not built downtown, it’s not built at all. The Spirit Bank center gave us a glimpse of how a suburban arena would fare. Indeed, $300 million over 10 years is really not that big of a number on an annual basis, especially considering the nearly $1 billion in private investment that it has help generate.
Fourth, I think we got and are getting a good return on our investment. Downtown is changing before our eyes and this has happened during one of the worst recessions in 80 years, a slow recovery and an oil bust. As noted, be cannot calculate a ROI, but you cannot ignore the apartments, hotels, restaurants, etc. that have been built. We are going to spend $100+ million to widen Yale between 81st and 91st, which is a huge chunk of the last roads package. While that will improve the lives of those living in that area, I don’t see it generating anywhere near the private investment or transformation that has happened downtown.
Tulsa needs to invest in all parts of the city, not just any one part. But it cannot ignore, as it did for so long, the most important part.