Nope. It's actually one of the oldest neighborhoods in Oklahoma, dating back to the post civil-war era (that's new for Oklahoma, which wasn't a state until late 1907!). Many of the buildings are still standing from the 1910s and 20s, though many others were lost for a variety of reasons (a horrible race massacre, neglect, "urban renewal"). You can still find brick streets (and lots of brick under asphalt), old trolley lines in the roadway, and many buildings that don't make sense (because they were originally built along RR spurs that are no longer there).
The area started coming back ~20 years ago and really picked up steam ~10 years ago. Boatloads of re-purposing, remodels and new construction from art galleries, to archives (Woody Guthrie archives with the Bob Dylan archives coming soon), to apartments/condos/lofts, hotels, and some corporate buildings. What was a truck depot is now a park in the middle of the district. I'm thrilled they are keeping most of the old buildings, old businesses and venues in the area and seem to be mostly adding to it, instead of just sweeping the all of the old away and starting over.
If you came back in 3 years, you'd see another slate of a dozen or so new buildings. Logistics seems to keep the construction to 2 or 3 at a time in the area. If you are staying at the Holiday Inn, it was just completed a few months ago (and they are still working on the parking garage). I did a walk through a few weeks back and its really nice, the location is amazing. Also... You are half a block from Glacier Bean to Bar, chocolatiers. Go there. So good.
For a different breakfast check out Que Gusto (Ecuadorian food, ~ a block away) or Antoinette Baking Co (~4 blocks away). For a really nice evening meal and some drinks find the Bull in the Alley. But there is so much in that district that is good, so if its full don't fret.