Thank goodness it’s finally 2021! Looking back at the past year, we have learned many lessons about what is most important in life, what we can do without, and how we should really wash our hands!
Our city tallied up several positives statistics as we ended the year. Sales tax revenue, residential activity, and commercial investment all ended 2020 with strong numbers. Beginning with sales tax revenue, Edmond finished the calendar year 2020 up 3.42% over 2019. This growth can be attributed partially to people working from home and spending more of their money here in Edmond.
Ten percent more homes were built in Edmond in 2020 than in 2019, representing over $215,000,000. Five neighborhoods had more than 35 new homes built, including The Lakes at Cross Timbers, Woodland Park, High Garden, Delmer Lakes, and Delmer Lakes North. The average new home price was $377,270 compared to the average price of an existing home at $316,243.
Thirty-six percent more commercial activity occurred in 2020 than in 2019. Projects started or completed this past year include:
- A new McDonalds
- SSM Health (St. Anthony’s) and Integris Primary Care all at I-35 and Covell
- A Neighborhood Jam restaurant on 2nd Street
- Scooters Coffee on Edmond Road
- A clubhouse and fitness center at Highland 55 on Bryant
- Central Bank north of Coltrane on 2nd Street
- A Tinker Federal Credit Union at Kelly and Covell
- Five new buildings in the Ice House development at the railroad tracks, north of Edmond Road.
The city added to the activity with the opening of the new tennis center, Edmond Center Court, the relocation of Fire Station #2, and the railroad quiet zones, which were enabled in 2020. All of this occurred during a pandemic year! To hear more about activity in the different real estate sectors of the market, sign up for our three-session 2021 Economic Preview virtual series on our website.
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About Janet Yowell
Janet Yowell is the executive director of the Edmond Economic Development Authority. The EEDA exists to offer resources that stimulate the growth of Edmond’s economy by creating and maintaining an optimum environment for both new and existing businesses, offering services that facilitate the growth and expansion of those businesses and generating opportunities to increase the sales tax base of the city of Edmond.
Janet is a graduate of the University of Oklahoma’s Economic Development Institute (OU/EDI) and Leadership Edmond Class VIII. She was named the 2019 Citizen of the Year by the Edmond Area Chamber of Commerce and one of the 2006 50 Women Making a Difference by The Journal Record. Janet is also a Paul Harris Fellow of the Rotary Club of Edmond and was named their 2020 George Mikesell recipient.