The Tulsa Housing Authority (THA), with co-developer Pennrose, has closed the $30.5 million phase II financing for 36N. The 36N development is the largest ever investment in mixed-income housing in Tulsa’s history, bringing 545 units of mixed-income housing and over 9,000 total square feet of commercial space to the Phoenix District in North Tulsa.
Phase II – The Landing @ 36N – is comprised of 70 units, with 34 affordable units, 21 workforce housing units and 15 market rate units. The first phase of 36N to be built on the former site of Comanche Park Apartments, The Landing will offer 3,000 square feet of commercial space, a community lounge, fitness center, and computer stations for residents.
Earthwork and infrastructure development for The Landing are underway, with vertical construction slated to begin in early 2026.
“The excitement we saw from the community at last month’s ribbon cutting for Phase I of 36N makes the closing of the second phase even more meaningful for us,” said Aaron Darden, THA President & CEO. “To begin work on the first phase of 36N that will sit where Comanche Park once stood is really special, and we can’t wait to see this corner of 36th St. N & Peoria continue to transform.”
Financing for The Landing @ 36N includes funds from the U.S. Department of Housing and Urban Development (HUD), Affordable Housing Tax Credit investment from RBC Community Investments, private debt financing – a construction loan from Horizon Bank and a permanent loan from M&T Realty Corp – and funding from The Anne and Henry Zarrow Foundation, Ascension St. John, George Kaiser Family Foundation and Charles and Lynn Schusterman Family Philanthropies. The financing for 36N requires that the development remain affordable for at least 40 years.
“We’re thrilled to take another exciting step forward in the historic 36N master plan, delivering high-quality housing opportunities for residents across the income spectrum,” said Zach Cavender, regional vice president with Pennrose. “Every milestone brings us closer to transforming a former public housing site into a vibrant neighborhood with access to amenities, supportive services, and nearby transportation, public space, and community assets.”
36N is Tulsa’s second project to be awarded a Choice Neighborhoods Implementation grant from HUD. A ribbon cutting and open house celebrating the opening of Phase I – The Phoenix @ 36N – was held in August. Residents will begin to move in October 1, with former residents of Comanche Park given the first right to return.
For more information on 36N, visit 36ntulsa.com.
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About Tulsa Housing Authority
Tulsa Housing Authority (THA), and its subsidiary THA Development Corporation, Inc., is creating a better Tulsa by transforming lives and communities. THA has been serving the community since 1967, providing affordable housing solutions for Tulsa’s most vulnerable populations. THA owns and manages 14 communities and administers the Section 8 Housing Choice Voucher program. THA serves more than 10,000 Tulsans, providing affordable housing options in tandem with connection to supportive services to help all Tulsans thrive.
About Pennrose
With more than 50 years of experience, Pennrose combines quality development and proven management to deliver exceptional lifestyle-centered communities for its residents. With the superior knowledge and unparalleled dedication to get the job done right, Pennrose develops and operates conventional, affordable, mixed-income, and mixed-use communities throughout the United States. For more information visit www.pennrose.com.