Real-estate developers in Tulsa, Oklahoma are reportedly working on a $4 million "Black Wall Street" townhome project. The "Black Wall Street" townhome project is inspired by the 20th century area of Tulsa that held the same moniker. Prior to the Tulsa Race Massacre of 1921, the area, also known as the Greenwood District, reportedly had the highest concentration of Black entrepreneurs in the country.
Led by McGee Enterprises, Inc. and Boomtown Development Company, the project is set to be located in the city's Dunbar neighborhood near Martin Luther King Jr. Boulevard. and East Reading Street. It will consist of 24 townhomes. Eight townhomes will be worth an estimated $150,000 with three bedrooms, two baths and a two-car garage. the other sixteen homes are described as "more affordable" with three bedrooms, two baths and a one-car garage.
At this time, it is unclear who or what will be moved out of the Dunbar area to make way for the project. It is also unclear if the "Black Wall Street" housing project will provide preference to potential Black homeowners. Currently, the U.S. census reports that nearly 75% of the county identifies as white. Meanwhile, less than 20% of the city is Black. Furthermore, Data USA reports that the median property value falls below the estimated $150,000 marker put forth by the development team. To address these concerns, FOX 23 in Oklahoma reports that developers are open to hearing feedback from residents in the area.
The project is expected to break ground next summer. If construction moves forward as schedule, the project will be completed in 2023.
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