Greenwood Phoenix Development Group, LLC

PROJECT PURPOSE

Development and construction of a multi-purpose outdoor facility that will seat 10,000 attendees and an indoor youth and amateur sports facility. These facilities would be constructed in Tulsa's historic Greenwood District on the site of the former Evans-Fintube facility. This site would serve as a major economic development draw for the Tulsa area and spur hundreds of millions of additional investment dollars. Tulsa is one of the only 1 million MSA + sized cities in the country without an outdoor multi-purpose facility. The economic impact and positive health outcomes that these facilities will result in will help address the negative economic impacts that the Greenwood Community has experienced as the result of the COVID-19 pandemic and going back to the 1921 Race Massacre. Additionally, the multi-purpose outdoor facility will serve as the primary venue where the FC Tulsa men's professional soccer team plays.

EVIDENCE

Multi-purpose outdoor facilities and youth and amateur sports facilities have continually shown to generate significant economic impact on a regional and statewide basis. The events held at these venues bring in tourism dollars and create local area jobs. The business that develop around these venues create wealth and improve economic outcomes for the surrounding neighborhoods.

POPULATION DESCRIPTION

The Greenwood neighborhood and North Tulsa community has been disproportionately impacted by the Covid-19 pandemic. This area of Tulsa is very vulnerable to changes in the economic and health landscape as was the case during the pandemic. Furthermore, the Greenwood neighborhood was destroyed during the 1921 Race Massacre. As a result, a significant source of generational wealth for the descendants of Greenwood was wiped away. Furthermore, North Tulsa and the census tract where the new multi-purpose facility will be constructed is a vulnerable community. This area has been disproportionately impacted with negative health outcomes. North Tulsans have a life expectancy that is 10 years less than other Tulsa area residents. Additionally, Greenwood area residents and North Tulsans do not have the business ownership and wealth creation opportunities that other Tulsans have. Our project will generate additional wealth creation opportunities.

PERFORMANCE MEASURING

Performance will be measured by tracking the additional economic impact these facilities will have within the Tulsa MSA and Northeastern Oklahoma, including improving the health outcomes and growth in wealth and incomes of Greenwood area residents and North Tulsa's.

ONGOING INVESTMENT AMOUNT

$

ONGOING INVESTMENT DESCRIPTION

None

ONGOING INVESTMENT REQUIRED

Able to continue operation without additional funding from the State of Oklahoma