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New Construction in Midtown Tulsa
While the majority of homes in midtown were built before 1950, there has
been some new construction ... particularly in the last 5 to 10 years. Due to
the high cost of building sites, most of this new construction has
been in the
higher price ranges,
New Midtown trend offers contemporary urban "loft style" living
Pockets of these modern new homes can be found throughout midtown but one
of
Some of these new townhouses offer a distinctively “Green” approach to new
construction
New Homes in historic Midtown inspire a bit of controversy
This
trend towards so
One group of citizens has banded together in protest and formed a website to call attention to their concerns and you can check it out here: Preserve Midtown They are proposing a number of new restrictions on new construction in midtown Tulsa, including new ordinances establishing a moratorium on residential demolitions until so-called "conservation" districts are established.
Some have even suggested increasing permit and demolition fees to fund more rigorous inspections. They argue that "the fabric, character, and beauty of one of Tulsa's greatest resources - midtown neighborhoods - are being eroded like a rapidly spreading cancer." They continue with the idea that "the teardown / McMansion craze is destroying cultural and social diversity in Midtown by demolishing affordable middle class and even upper middle class homes in favor of McMansions that only the rich and near rich can afford."
Some opponents say "Be careful what you wish for"
Some in
opposition to the proposed new limitations say that property owners, working
within the framework of the existing building and zoning codes and covenants
should
It is probably safe to say there are valid arguments to support the concerns of
When you start legislating restrictions on those rights you are tinkering with the very foundation of our democratic freedoms, our right to own real property and use it as we wish so long as it poses no threat to others. As we say, be careful what you wish for because these proposals are easy to put in place and almost impossible to change.
Potential for a huge loss of tax revenue to the City of Tulsa
The people who support new restrictions might wake up some day to find that their property values have actually decreased because of the adverse effects these changes will have on the developers and entrepreneurs who risk enormous personal fortunes to ply their trade. They will simply go someplace else to do business. Without the prospects for new growth, it is easy to see how a neighborhood might easily fall into decline, as some historic neighborhoods reportedly have. That is not even considering the potential impact on future revenue for a cash starved city struggling to make ends meet.
One of the biggest complaints focuses on a project at 24th & Yorktown Ave where a smaller home (built on 3 previously platted lots) with a 2007 total market value for assessment purposes of $280,000, was leveled to make way for 3 new homes. The total valued estimated for the three new homes is projected at just under $2.25 million. The difference between the City of Tulsa's annual tax revenue before and after this project is approximately $26,000.
Over a 10 year period that would be a total loss of revenue to the city of over 1/4 of a million dollars just on this one single piece of property. How many parks could you mow, how many potholes could you fill, how many municipal pools could you operate, and how many schools could you fund with a quarter of a million dollars? If the Preserve Midtown group is successful in mandating a "preservation overlay" for all of midtown, it is highly unlikely any project like this would ever be built in the future; which would be disastrous both to the city budget as well as to your homeowners property rights in general. Hopefully a sensible compromise will be achieved
These days you seldom
here much about the age old real estate hypothesis
that in a
free society a piece of land will almost surely seek its highest and best use.
These are the market
forces which can work for or against you, depending upon how much economic sense
it makes to upgrade and grow with
the prevailing market conditions. That is why you typically see more
deterioration in neighborhoods that have little
change
than neighborhoods that have a
lot of change. The diversity of housing types and styles is after all what makes midtown
Tulsa neighborhoods so desirable when compared to typical suburban sub-divisions
where 300 homes often share 5 or 6 floor plans and the homes all look
For more information we suggest you visit some of the blogs and forums listed on our Tulsa Talk page where a lively debate is taking place. Hopefully a compromise can be reached that will protect the interests of both sides in this issue.
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