THE GENTRIFICATION OF GREENWOOD: The Bait & Switch
The story of Greenwood is one of resilience and reinvention — but today, it teeters on the brink of erasure once more.
From Black Wall Street to Rediscovery
Founded in the early 20th century by Black visionaries like O.W. Gurley and J.B. Stradford, Greenwood became the famed “Black Wall Street,” a self-sustaining hub of Black-owned businesses, schools, churches, and cultural institutions built in the face of Jim Crow and white violence. The 1921 Tulsa Race Massacre decimated that success: over 35 blocks burned, up to 300 Black residents killed, and a legacy nearly erased.
Yet survivors refused erasure. Within a decade, Greenwood rebuilt — 240 Black businesses stood by 1942.
Post-Segregation Decline and Rediscovery
The 1950s–60s desegregation led many Black Tulsans to leave Greenwood. Urban renewal in the 1960s, including the construction of I‑244, further fragmented the district and accelerated disinvestment. The decades that followed, only a handful of small businesses remained.
Recently, cultural landmarks like Greenwood Rising and the Greenwood Cultural Center, along with civic energy, sparked a renaissance.
Greenwood rent is up to 21% higher than Tulsa average. Home prices have doubled in just one year.
Investor Influx — The Bait & Switch
Tulsa’s North Tulsa redevelopment, including the 188-page Kirkpatrick Heights–Greenwood Master Plan (approved December 2022), held promise: 56 acres of city-owned land designated for community-led development.
But instead of Black-led stewardship, investors quietly purchased storefronts — leasing them back to Black businesses. Rising rents, coupled with a lack of supportive infrastructure, now threaten to push Black entrepreneurs out, one lease renewal at a time.
Historically, most land in Greenwood has been owned by the city, Tulsa Development Authority, or adjacent developers — often outside the Black community. Meanwhile, Black developers continue to face capital-access barriers and historic inequities in real-estate ownership.
Erasure in Real Time
This isn’t merely a business squeeze — it’s heritage at stake. Greenwood was built on Black ownership and inter-generational wealth. Leasing without ownership recasts Black Tulsans as caretakers rather than rightful inheritors.
Reclaiming Greenwood Through Community-Led Ownership
To restore belonging, we must return control to those who built it. Strategic solutions include:
> Community Land Trusts & Co‑ops
Transfer land to nonprofit trusts governed by Black residents, ensuring long-term affordability and community governance.
> Fiscal Sponsorship Infrastructure
Provide Black entrepreneurs with nonprofit partnering to manage legal, financial, and operational needs — rooted in cultural competency and economic access.> Capacity & Capital Support
Invest in grants, loans, and shared services — especially for Black-owned and locally embedded businesses — buffering them from rising rent cycles.> Equity-Driven Development Boards
Implement civic oversight through newly formed entities like the Greenwood Legacy Corporation and Kirkpatrick Heights advisory structure.
Now Is the Moment
Monroe Nichols, Tulsa’s first Black mayor is proposing a $105 million Greenwood Trust to fund housing, cultural preservation, and legacy land acquisition — and aiming for deployment by 2026 — the window for community-centered action is open.
Tulsa nurtures extraordinary talent — artists, entrepreneurs, cultural innovators — rooted in Greenwood. Now is the time to ensure this future belongs to the Black Tulsan community, not outside investors.
“Greenwood should not just rebuild — Greenwood must be reclaimed, owned, and operated by those who’ve always called it home.”
Rent Trends & Rising Displacement Pressures
> Tulsa overall: Average rent rose 13.5% since 2021 — reflecting significant inflation-driven pressure on renters
> Median apartment rent (Tulsa): Now around $1,005/month (June 2025)
Greenwood-Specific Affordability Crisis
> Greenwood Historical District average rent: $1,671/month, well above the city average and nearly 66% higher
> Median list price surged +93% year-over-year to $202.7 K (May 2025)
> Sale prices also jumped ~136% YoY, reaching $212 K median
What This Means for Greenwood
These sharp rent increases and home value surges highlight accelerating displacement:
> Hiking rents priced local Black entrepreneurs out of their community.
> Home values doubling squeeze long-term residents and obstruct local ownership.
> Investor speculation on rising real-estate values undermines grassroots economic resurgence.
Further Reading & Inspiration
Fulton Street Books & Coffee: 21 N Greenwood Avenue | Tulsa, OK 74120
Brookings: Community Ownership Models in Greenwood
Economic Architecture: Community Land Trusts as Anti-displacement Tools
