City of Norman makes headway with funding approvals, tax credit for new Affordable Housing Project

The City of Norman continues to work toward its goal of increasing affordable housing, as evidenced by recent awards that total $14,500,000 in Affordable Housing Tax Credits that will provide funding for the proposed Crimson Flats development  an affordable housing project resulting from a public-private partnership. Staff received news of the award from the Oklahoma Housing Finance Agency (OHFA) at the May 2024 Board of Trustees meeting.

The partnership, accepted by Norman City Council in November 2023, includes a disposition and development agreement between the City of Norman and Milestone Property Development LLC that allows for construction of affordable housing units utilizing designated City Coronavirus State and Local Fiscal Recovery Funds (SLFRF) funds, Low Income Housing Tax Credit funding, and tax-exempt bond financing. Staff member Lisa Krieg, Planning & Community Development, says final approvals by OHFA this month will greatly benefit the community.

“This project is income-based for future tenants and will consist of 75 units, 40 of which are 1-bedroom,” Krieg said. “It will be required that the facility accept Section 8 vouchers, and the contractor will be building with accessibility in mind.”

Prior public studies have determined that Norman is in need of additional affordable housing. This project – to be located at Imhoff Road and Oakhurst Avenue – began being planned and researched nearly two years ago. Prior to receiving awards through OHFA, public hearings spotlighting the project received zero protests.

“Our community realizes the need for more affordable housing,” Krieg said, “and we are grateful to start bringing this project to reality.”

Work to begin clearing the site is ongoing and the entire project is expected to be complete in 2026. Updates regarding the project will be posted to