The Oklahoma Housing Finance Agency (OHFA) has approved a new round of funding designed to expand affordable housing provision across multiple counties, following a meeting of its Board of Trustees on 21 January. The decisions cover awards under both the HOME Investment Partnerships Program and the Oklahoma Housing Stability Program, signalling a continued policy focus on increasing housing supply and improving access for lower-income households.
Taken together, the approvals are expected to support new single-family homes, rental housing developments and down payment assistance initiatives in both urban and rural communities. The programmes target a broad range of delivery partners, including non-profit organisations, local authorities, housing development bodies and private developers.
HOME Investment Partnerships Program Awards
Under the HOME Investment Partnerships Program, trustees approved a series of grants intended to increase the availability of affordable housing options within participating communities. The programme provides financial support to non-profit organisations, public housing authorities, Community Housing Development Organisations, local or tribal governments and private developers working to meet the housing needs of low-income residents.
Four organisations were selected for funding in this round. Catholic Charities of the Archdiocese of Oklahoma City Housing, Inc. received support for the new construction of four rental homes in Oklahoma County. Deep Fork Community Action Foundation, Inc. was awarded funding for the construction of three rental homes in Okmulgee County, alongside a Community Housing Development Organisation operating grant intended to strengthen organisational capacity.
Housing for Communities, Inc. secured funding for the construction of two homes for homebuyers in Canadian County, while the City of Midwest City was awarded support to provide down payment assistance for 27 homebuyers. Collectively, the grants are aimed at addressing localised housing shortages while supporting first-time and lower-income buyers.
Oklahoma Housing Stability Program: Homebuilding Loans
In parallel, trustees approved awards under the Oklahoma Housing Stability Program (HSP), which offers zero-interest construction loans for the development of single-family homes as well as single and multifamily rental housing. As part of the HSP Oklahoma Homebuilder Program, construction loans were approved for three entities, with the resulting single-family homes to be made available for purchase upon completion.
A total of $7.6 million was awarded in this funding round. Green Country Habitat for Humanity received support for the construction of 12 houses in Wagoner, within Wagoner County. PJSOZI, Inc. was awarded funding for 25 houses in the Wallace Meadows Addition in McAlester, Pittsburg County, while Craft Homes, LLC secured financing for eight homes in the Buck Crossing development in Guthrie, Logan County.
Homes built through the programme will be eligible for a 5 per cent down payment assistance offer provided by OHFA, a measure intended to reduce upfront costs for buyers and improve affordability.
Expansion of Multifamily Rental Housing
The board also approved awards under the HSP Oklahoma Increased Housing Program, which focuses on the construction of new multifamily rental units. In total, $9 million was allocated to four development entities to support projects across several counties.
Helm Rental Properties, LLC was awarded funding for 20 units in Stilwell, Adair County. Bravo Ridge Development Group, LLC received support for 15 units split between Davis and Sulphur in Murray County. Universal Development Enterprises, LLC was approved for 20 units in Oklahoma City, while STAR Living, Monkey Island was awarded funding for 20 units in Bernice, Delaware County.
These developments are intended to expand rental housing availability in areas facing supply constraints, particularly smaller communities where new multifamily construction has been limited in recent years.
Future Funding Opportunities and Deadlines
In addition to approving current awards, trustees authorised application materials for future rounds of financing. The next application deadline for the Oklahoma Housing Stability Program is 19 February. Applications for the HOME Investment Partnerships Program will be accepted between 2 April and 7 May, while National Housing Trust Fund applications will be open from 13 May to 26 June.
All development application materials are available for download via the OHFA website. The agency has indicated that continued investment in housing supply remains a priority as demand pressures persist across the state.
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