Over the past six years, the partnership between M&T Realty Capital Corporation (M&T RCC) and the Tulsa Housing Authority (THA) has become a model for how creative financing, deep collaboration and shared vision can transform communities and deliver lasting impact.

Since 2019, M&T RCC and THA have successfully closed eight major transactions, leveraging a range of HUD and Freddie Mac programs to finance new construction, substantial rehabilitation, and strategic refinancing across Tulsa. This partnership has weathered unprecedented challenges, including the COVID-19 pandemic and supply chain disruptions.

“THA is the kind of partner every lender hopes for: focused, collaborative and unwavering in its commitment to residents,” said M&T RCC Head of FHA Sandy DeFelice, “Together, we navigated unprecedented headwinds, structuring solutions that advanced mixed‑income redevelopment, preserved deeply affordable housing and prompted neighborhood revitalization across Tulsa.”

This collaboration has supported projects spanning mixed-income redevelopment, preservation of deeply affordable housing, and large-scale neighborhood revitalization. Some notable projects include River West IV, V, and VI, a multi-phase development in the Eugene Field neighborhood, which delivered hundreds of mixed-income units. Pioneer Plaza was a substantial rehabilitation of a high-rise serving elderly and disabled residents, preserving critical affordable housing while improving quality of life. Another project was Murdock Villa, which included the refinancing of a fully Section 8-assisted property, unlocking capital for future THA initiatives. 36N and Hilltop Developments were separate, ambitious, multi-phase projects that revitalized the former Comanche Park development in North Tulsa and the former Sunset Plaza site. These created hundreds of new LIHTC units focused on sustainability and mixed income living.

“M&T Realty Capital Corporation has been an incredible partner and integral part of our agency’s transformation. Their professionalism, skill and faith in our team have shone through each project we’ve completed together, and we hope to be able to continue our partnership into the future,” said Tulsa Housing Authority President & CEO Aaron Darden.

At the core of their partnership, M&T RCC and THA have had a commitment to customized and innovative financing. M&T RCC has structured tailored solutions using programs such as HUD 221(d)(4), HUD 223(f), and Freddie Mac Forward Loans, ensuring that each project remains financially viable while advancing broader community goals.

Across their portfolio, the partnership has delivered thousands of sustainable, affordable units, catalyzed neighborhood revitalization, and driven measurable improvements in resident incomes and local property values.

M&T RCC assisted with facilitating partnership(s) between THA to key development partners and provided strategic support, from equity bridge loans to development consulting. This support has helped THA accelerate its pipeline.

With several major projects in the pipeline, including additional phases at 36N and Hilltop, and new ventures at East Central Village and Parkview Terrace, the partnership is poised to continue delivering transformative results for Tulsa. The teams’ commitment to flexibility, open communication, and shared problem-solving ensures that as challenges arise, solutions will follow.

The success of M&T RCC and the Tulsa Housing Authority partnership demonstrates that with the right partners—lenders, developers, public agencies, and community stakeholders—affordable housing can be delivered at scale, even in the face of adversity. The lessons learned in this process are already informing similar efforts in other markets.