Gathering Place Construction Having Positive Impact On Real Estate Market

Monday, March 13th 2017, 6:18 pm
By: News On 6

The real estate market surrounding Tulsa’s Gathering Place construction is booming.

Realtors and developers are seeing an increase in activity from Cherry Street, all the way to 47th Street in the Brookside area.

While a huge construction project like the Gathering Place is usually a deterrent for people investing in homes, the park has actually attracted people to the area, and it's not even finished.

Realtor Danielle Sprik said, "There are a lot of people coming in, investing in real estate, flipping the market or home builders who are tearing down for new."

Sprik sells existing homes in the area and also works with her husband, a home builder. She said the market in the area has changed a lot in just the past year.

"Where we used to be able to purchase a lot for maybe $150,000, $200,000, now we're looking at closer to $250,000 and up," Sprik said.

She said the east side of Peoria in Brookside has been booming for a few years now, but since the Gathering Place construction, things are really heating up in between Riverside and Peoria.

"These homes are the ones these investors are targeting to really go in and revitalize, and it's been awesome for the neighborhood," Sprik said.

With the completion date for the Gathering Place expected for the end of this year, Sprik said she hopes the growth continues.