Oklahoma City real estate snapshot

The city's quality health care and excellence in education, has attracted many young families to the area. And the high quality of living comes without the high costs, energy shortages, smog or traffic congestion found in bigger cities.

Oklahoma City has an increasingly diverse economy. What was once a city known as a regional center of federal agencies and energy exploration has expanded and diversified to include sectors such as biotechnology, information technology, health services and administration within the past 15 years. Several Oklahoma City-based companies, such as Devon Energy and Chesapeake Energy, rank among the largest Fortune 500 Corporations in the nation.

The city's downtown and surrounding areas such as Bricktown and Midtown have seen a significant revival in the wake of the city programs, which created new venues and attractions in the downtown area. Today, as downtown and the central business district continue in their economic revival, there are numerous condo and apartment developments being built around these areas, along with older buildings that are being converted into apartments and hotels.

Devon Energy, currently occupying space in five separate downtown buildings, announced plans in March 2008 to build a new 1,000,000-square-foot skyscraper at the corner of Sheridan and Hudson. The building is expected to bring new life to the east side of downtown, which has seen less growth compared to Bricktown on the western edge and Midtown to the north.

Other development projects include the Block 42, a high-end condominium project offering 42 eco-friendly luxury condos with a modern, urban aesthetic. The luxury 2-bedroom, 1-bathroom condos are starting at $295,000 and a three-story townhouse with 2 bedrooms and 2.5 bathrooms are going for $614,500. Construction should be completed by mid-2008.

The Hill, another development project, has plans for 200 townhouses being built on a hill overlooking the Deep Deuce district. The project is currently under construction. The Triangle (including the Flatiron District and some of Deep Deuce) is a project by TAParchitecture, which will be finished in 5 to 10 years with 700 loft units, office and retail space.

The Central Avenue Villas will have 30 loft units when finished later in 2008, and the Cotton Exchange is a planned 12-story retail/condo development on the canal across from the Bricktown Ballpark. Construction should begin in 2008. The median home price in Oklahoma City is $134,000.

Oklahoma City is a distinctly livable city where you can chase your business dreams and still enjoy a rich quality of life. So join in the city's renaissance and start your Oklahoma City real estate search today!

Sources and more information:
http://en.wikipedia.org/wiki/Oklahoma_City,_Oklahoma
http://www.ok.gov/
http://www.block42.com/#
http://okc.about.com/od/neighborhoods/Oklahoma_City_Metro_Area_Neighborhoods.htm