TULSA, Okla. — Mixed among the industry of downtown Tulsa are some high-rise apartments.
During its Jan. 28 meeting, the city council paved the way for more. The council approved a $2.8 million loan, to kickstart the construction of 80 downtown units. The loan will be paid over six years at 6% interest.
“It’s great news for downtown,” Ronita Wade, interim executive director of Partner Tulsa, said.
Partner Tulsa will administer the loan to Rose Rock Living, which, according to its website, already owns a few properties downtown.
“What we’re allowed to do by providing that incentive is ask for …. some workforce housing units,” Wade said, “Some affordable housing units.”
RENT GOING UP >>> But as 2 News’ Stef Manchen explains, Tulsa is still a bargain
The apartment complex, the 3D Flats as they will be called, are set to be placed at 3rd and Denver. Thirteen of the 80 units will command ‘affordable’ rent. Councilor Lori Decter-Wright defined affordability.
“That’s 30-80% of the area median income, which right now, for a family of four, is about $58 thousand. So we’re talking that they will be priced for people earning between $18 thousand and $40 thousand to be able to afford to rent in the downtown core,” Decter-Wright said.
2 News contacted the lead developer, Steven Watts, but could not coordinate time for an interview.
Meanwhile, KJRH listened to Stephon Hall about life downtown.
“The people are pretty awesome. The businesses around here are vibrant and downtown’s just kind of has been way better than it has been in the past, growing up here in Tulsa,” Hall said.
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