There still is a slight bounce Unfortunately.
Surplus land from these projects being auctioned off:
https://tulsaworld.com/business/loca...088b903e1.htmlA 21st-century version of the Oklahoma Land Run will take place next month in Oklahoma City.
In what could be one of the largest public land auctions in modern state history, close to 800 acres of surplus land owned by the Oklahoma Turnpike Authority will become available for sale.
A total of 68 parcels will be up for grabs across 11 counties: Tulsa, Creek, Rogers, Craig, Oklahoma, Wagoner, Murray, Canadian, McClain, Grady and Lincoln, said Jessica Brown, director of strategic communications for the Oklahoma Transportation Cabinet.
Dakil Auctioneers Inc., will conduct auctions beginning at 10 a.m. June 9-10 (registration is at 9 a.m. both days) at its facility at 200 NW 114th St. in Oklahoma City. Available land totals more than 790 acres, with the largest tract being roughly 71.2 acres on the west side of the Creek Turnpike near 22500 E. Omaha St. in Broken Arrow.
And of course selling land back now is a sign of corruption to some people: https://www.oklahoman.com/story/news...om/9850231002/
If anybody wants me to send them that article let me know and I can do it
Sometimes it’s worth it to buy more land in acquiring the entire property instead of just part of it. Easier for the land owner. Land almost always goes up in price. If the issue is a conspiracy where people believe the OTA does this to make money in the real estate business then that kinda throws the whole “but this new tollway will decrease our land value” argument many love to make.
Extra space is sometimes needed for the staging of construction equipment while the highway is under construction that is no longer needed once the highway is completed. Also, sometimes more land will be bought than is needed so that if something unexpected is found during construction, there is a little bit of "let" that they can use to adjust the exact routing of the road. There is no benefit to OTA holding this land once the project is complete.
Take a look at the I-35/Main Street interchange in Norman. There used to be a cloverleaf here, but about ten years ago, it got replaced by a SPUI, which takes up much less land. ODOT has not sold off the extra land, so there's a bunch of land on all sides of the interchange that is not being used for anything. That's not really an optimal solution.
As far as I know, land sales like this regularly take place in every state, other than maybe densely-packed Northeastern states that rarely take land to build new projects to begin with.
^^^ be careful Scott, you’re using logic to fight fear mongering bullsh!t. That’s dangerous
if you own property and will lose direct access to a road because of odot or OTA projects they have to buy your land .... (you don't have to sell it)
if they need a piece of your land for a project ... they have to buy all of your land (you don't have to sell all of your land) ...
this is how they get excess land ..
Imagine what people would say, if they bought out the usable pieces of someone's land and said "oh its ok, we don't need that other piece". Investors with deeper pockets have to make leftover land useful again.
Interesting thought that I haven't considered all the ramifications. Should the original landowner who lost it through eminent domain be allowed first right to buy back at the same price?
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