GREENWOOD Dist.– On January 12, Black Wall Street Square was announced as the newest housing development for North Tulsa.

Boomtown Development Company, McGee Enterprises, and Twenty20 Management hosted the groundbreaking ceremony at Crossover Preparatory Academy to announce the highly anticipated housing development. More than a dozen companies have joined in partnership in the development of Black Wall Street Square.

The Black Wall Street Square, located on the northeast corner of Martin Luther King Jr. Boulevard and East Reading Street, will feature 25 single family, energy efficient and mixed income townhomes.

The 8-million-dollar project was inspired by the late Terry McGee, founder of McGee Enterprises and North Tulsa homebuilder. McGee passed away in October of 2022, but the project with Boomtown Development Company (a subsidiary of Green Country Habitat for Humanity) was already approved. His sons, Terry and Dominic McGee are carrying on his legacy.

Dominic spoke to the audience about his father’s love black wall street and his desire for it to be more than one street.

“My father always said that Black Wall Street does not have to stop at Greenwood or downtown, but rather Black Wall Street is a mentality about taking collective action.” McGee said.

Black Wall Street Square Development for District One 

The housing development will be in District 1, at the northeast corner of Martin Luther King, Jr. Boulevard and East Reading Street in North Tulsa. The city councilor for District 1, Vanessa Hall-Harper, spoke to the statistics of the unemployment  between Black and White Tulsans, as well as the homeownership disparity between the two racial groups.

“According to the Bureau of Labor Statistics in April, Black unemployment hit a historic low of 4.7% marking the lowest level ever recorded. This achievement is known as it narrows the gap with the White unemployment rate of 3.5%,” Hall- Harper said.

Urban Removal

She mentioned, despite the gap closing in unemployment, the housing ownership gap between Black and White Tulsans does not positively reflect the unemployment statistics.

“In 2022, the Black homeownership rate stood at 45%, only modestly higher than the level as a passage of the 1968 Fair Housing Act.,” she stated.

She also mentioned that Black homeownership is currently well below the community’s peak of nearly 50%, in 2004, while noting that White homeownership sits at 74.4%.

Despite the numbers, Hall-Harper has a positive outlook for the new housing development and considers the project a form of reversal for systemic racism.

“It’s a sense of pride, and I consider it some level of reversal of the systemic racist practices of urban removal. It’s really called Urban Renewal, but I call it urban removal,” she told the Black Wall Street Times. 

She continued saying that the land was taken from Black people, and the project was a small attempt to take some of it back. 

“I do consider it a fight back, an opportunity to say, we’re getting our community back,”  she added.

United We Stand Divided We Fall 

William Tisdale, Director of Business Development with Twenty20 management and North Tulsa native expressed his enthusiasm for members of the community being involved with the building of Black Wall Street Square.

“Boomtown and Terry McGee had developed a process that included the community and what the design looked like instead of going over and saying, hey, we’re doing this for you, they’ve come alongside and said, we’re doing this with you.” he told the Black Wall Street Times. “For me, that was probably the biggest difference between how things have been done in the past.” He added.

Jeryaun and Courtney Perry, young professionals with Twenty20 Management, both expressed excitement to see the housing development in North Tulsa.

“I’m just appreciative of being able to help bring something to the north side of Tulsa that’s desperately needed.” Jeryaun Perry told the Black Wall Street Times.

Courtney mentioned her hope of the project attracting young professionals, due to the lack of opportunities in North Tulsa.

According to a press release, all units will include three bedrooms, two full and one 1/2 baths, and a 1- or 2-car garage featuring professional landscaping, sidewalks, and a community gathering space.

Black Wall Street Square is scheduled to be completed by summer 2026, with phase one of two being complete by summer 2025.