The Oklahoma Housing Finance Agency (OHFA) has approved a significant wave of housing investment across the state, confirming new tax credits, development grants and construction loans intended to expand affordable housing supply. The approvals, finalised during the organisation’s 19 November board meeting, close out OHFA’s second and final funding cycle for 2025.
Affordable Housing Tax Credits Support New and Rehabilitated Homes
Through the Affordable Housing Tax Credit programme, which issues both federal and state credits, trustees signed off on a wide range of projects. The 9% credit allocations include new-build developments such as The Dominion on Reno Ave. – West in Oklahoma City (27 units), Marietta Highland Trails II (28 units), and Villas at Lions Court II in Blanchard (38 units). Additional construction projects include West Oak Village in Bethany (43 units), Gardenia Apartments Phase I in Edmond (45 units), The Summit at 36N in Tulsa (46 units), and Skiatook Flats Phase II (40 units).
Rehabilitation initiatives, primarily focused on elderly residents, were also awarded credits. These include Parkland Townhomes in Prague (32 units), West Oak Village in Skiatook (40 units), and Chickasha Flats (48 units). Savannah Park of Tahlequah will undergo acquisition and rehabilitation of 77 units. Eastbrook Apartments in Cushing secured state credits for the refurbishment of 30 units.
Under the 4% tax credit category, funding was approved for The Summit at 36N in Tulsa for an additional 46-unit project. A combined rehabilitation initiative for Brookhaven Plaza in Bartlesville and Park Place Apartments in McAlester—totalling 240 units—was also supported. The Scott in Oklahoma City received state tax credits for the construction of 184 units.
HOME Grants Expand Community Housing Options
A separate round of investment was issued through the HOME Investment Partnerships Program, which provides grants to non-profits, housing authorities, tribal governments and private developers. Building New Foundations, Inc. received support to construct three rental homes in Canadian County, while Housing for Communities, Inc. will build three homes for buyers in Logan County.
Community Housing Development Organization (CHDO) funding was awarded to several groups. Southwest Oklahoma Community Action Group, Inc. will build two rental homes in Jackson County, and Native American Housing Services, Inc. will construct two homebuyer units in Pottawatomie County. Urban League of Greater Oklahoma City, Inc. will rehabilitate two rental homes, while Community Housing Partners of Oklahoma, Inc. will refurbish three homes in Canadian County for homebuyers. OKC Housing Services Redevelopment Corporation will construct three homes in Logan County. The Community Action Agency of Oklahoma City & Oklahoma/Canadian Counties, Inc. will use its grant to provide downpayment support to 12 buyers.
Housing Stability Programme Delivers Zero-Interest Construction Loans
The Oklahoma Housing Stability Program (HSP) advanced further funding for both single-family and multifamily construction. Under the HSP Oklahoma Homebuilder Program, trustees approved $7.2 million in zero-interest construction loans for 30 new homes. Chess Development, LLC will construct 23 houses in Guthrie, Logan County, while Summit Residential Builders, LLC will build seven properties in Echelon Estates in Oklahoma City. Eligible buyers will also qualify for 5% downpayment assistance.
Under the HSP Oklahoma Increased Housing Program, trustees approved an additional $7.2 million for new multifamily developments. Development of NE Oklahoma II, LLC and Development of NE Oklahoma III, LLC each secured funding for 25-unit developments in Sallisaw, Sequoyah County. Helm Rental Properties received support for a 16-unit project in Stilwell in Adair County.
Future Funding Decisions Scheduled for Early 2026
OHFA confirmed that further funding decisions will be reviewed at future board meetings. The next meeting is set for 21 January 2026.
