Tulsa City Council Approves Pearl District Neighborhood Economic Development Project Plan

Tulsa's City Council has taken a significant step towards revitalizing the Pearl District by approving a public hearing for the proposed Pearl District Neighborhood Economic Development Project Plan. This initiative aims to enhance the area just east of downtown, focusing on residential stability, business retention, and infrastructure improvements.

During the meeting on July 23, 2025, representatives from the Center for Economic Development Law outlined the project plan, which seeks to establish a single Ad Valorem increment district. This district will facilitate redevelopment efforts over the next 25 years, potentially generating up to $200 million in redevelopment and $96 million in property taxes. The plan emphasizes a "pay as you go" financing structure, minimizing upfront borrowing and ensuring that funds are allocated directly to projects as they arise.

Key priorities of the project include promoting homeownership and housing affordability, increasing employment opportunities, enhancing safety, and improving infrastructure to support community health and wellness. The plan also allocates 10% of the increment directly to Tulsa Public Schools, ensuring that the educational sector benefits from the anticipated growth.

The council's decision reflects a commitment to revitalizing the Pearl District, aligning with previous sector and small area plans adopted in 2019. With positive recommendations from the Tulsa Metropolitan Area Planning Commission and support from local taxing jurisdictions, the project is poised to make a lasting impact on the community.

As the city moves forward with this initiative, residents can expect to see improvements in housing options and local business opportunities, contributing to a more vibrant and economically stable Pearl District.