A friend of mine in Tulsa recently tipped me off to a container development proposed for the southeast corner of Third Street and Frankfort. As the article from the Tulsa World mentions, “Inspiration for The Boxyard came from similar shipping-container redevelopment projects in other cities.”
One needs look no further than Oklahoma City to hypothesize that some of that inspiration came from multi-container projects like OK SEA and The Showroom at Oklahoma Contemporary’s future downtown location, or even single-container retail space Perch’d.
So, as Tulsa plays catch up with Oklahoma City’s container-based projects, it would appear that this building trend has officially arrived in Oklahoma. Now here’s the part where I put on the economist hat from my previous life as an industry analyst in Los Angeles:
Although estimates of the container surplus vary, a surplus indeed exists (for reasons I mentioned earlier). Given the existing surplus in America, the increasing popularity of container-based building will likely encourage price-based competition among container vendors. With higher demand, container vendors will accept smaller per-unit profit margins to encourage higher volume sales. As such, I forecast container developments to increase in line with falling costs for raw building units.
Agree? Disagree? Wanna fight? Sound off in the comments below!