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TDA approves $1.32 million in Affordable Housing Trust Fund awards for three Tulsa projects
Summary
The Tulsa Development Authority approved three Affordable Housing Trust Fund awards totaling $1.32 million on Sept. 25 to preserve and add deeply affordable units across the city. Awards go to Townsquare (Trinity Trails) $700,000; Ellison Investment Group (North Star Community Residences) $120,120; and We Are Society (Maplewood) $500,000.
The Tulsa Development Authority on Sept. 25 approved three Affordable Housing Trust Fund grants totaling $1,320,120 to support projects that preserve and produce affordable rental housing across the city.
The board approved: $700,000 to Townsquare Apartments LLC for the Trinity Trails (Townsquare) project, which will preserve 69 affordable units and add 78 new units; $120,120 to Ellison Investment Group for North Star Community Residences (three duplexes, six units); and $500,000 to We Are Society for the Maplewood project (127 units). All three awards were presented by city staff and were approved by voice/roll-call votes during the meeting.
City staff said Trinity Trails’ capital stack is “fully assembled,” permits are issued, rehab and construction work has started, and the developer anticipates completion by mid‑2026. Staff flagged that 14 of the Trinity Trails units will serve households at or below 30 percent of area median income (AMI) and that the project includes Housing Choice Vouchers. Maplewood will devote 30 units at 30 percent AMI and also carries Housing Choice Vouchers; staff said Maplewood will use the Low Income Housing Tax Credit (LIHTC) program and will record a 40‑year affordability covenant. Ellison’s North Star project is new construction—three duplex infill homes, six units total—with four units targeted at or below 80 percent AMI; permits were expected in November with construction to follow.
Staff also noted that the Maplewood loan terms will be coterminous with senior debt and therefore longer (16–18 years) than some earlier TDA loans. The board voted to approve each award; staff said the Townsquare recommendation will require an additional step because the dollars are city funds and must go to City Council for final approval.
Trustees and staff emphasized the importance of preserving deeply affordable units, the role of vouchers in several projects, and the multi‑year affordability commitments tied to LIHTC projects. No member of the board voted against the awards.
