Key financing has been secured for the development of a 99-unit mixed-income development in Tulsa, Oklahoma.
M&T Realty Capital Corp. (M&T RCC) announced that it has provided $11.78 million in financing for The Enclave at 36N, marking the latest milestone in an ongoing collaboration with the Housing Authority of the City of Tulsa and the city.
“The Enclave at 36N reflects the power of partnership and innovative financing to create meaningful impact,” said Sandy DeFelice, M&T RCC’s Federal Housing Administration platform manager, who originated the deal. “We are proud to continue our work alongside the Tulsa Housing Authority to deliver housing that is both affordable and transformative for the surrounding community.”
Since 2019, the organizations have closed eight major transactions together, leveraging financing from the Department of Housing and Urban Development and Freddie Mac to support new construction, rehabilitation, and refinancing efforts across the city.
The collaboration has supported projects spanning mixed-income redevelopment, preservation of deeply affordable housing, and large-scale neighborhood revitalization.
The Enclave at 36N will feature 99 units across six three-story buildings. Of these units, 89 will be income-restricted under the low-income housing tax credit program, with 51 supported by long-term project-based Section 8 Housing Assistance Payment contracts, ensuring deep affordability for residents.
The development is part of the broader 36N redevelopment initiative transforming the former Comanche Park housing site into a vibrant, mixed-income neighborhood. The project represents the third phase of the multi-phase Choice Neighborhoods Initiative redevelopment, which will ultimately deliver more than 545 mixed-income units in north Tulsa.