February 2024 City Scoop: Oklahoma City
City Grill
Craig Abbott
Vice President
Manhattan Construction Co.
Continued public, private and tribal investment is fueling significant construction activity and growth in the Oklahoma City market, Abbott says. The MAPS 4 initiative is contributing $1.1 billion toward municipal, beautification and human services projects over the next four years.
Many projects included in the $955-million bond package to revitalize city public schools are ongoing or set to start in 2024. Also, voters recently approved a 1% sales tax to help fund a new arena for the Oklahoma City Thunder basketball team, estimated at $900 million.
“Such strong support from the community to approve public funding gives confidence to private entities looking to invest in developments to support these growing areas,” Abbott says. Oklahoma City unveiled the new Horizon District, anchored by the $400-million OKANA Resort and Indoor Waterpark set to open in early 2025.
But there are challenges, including procurement and supply chain issues, especially with mechanical and electrical equipment. And availability of qualified labor remains a key constraint, he says.
