First Property Developed Using State Tax Credits Opens in Hugo

Community includes 20 individual rental homes

Hugo Affordable Housing Opens Using State Tax Credits

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Development is the first completed State Affordable Housing Tax Credit Property

“This beautiful Hugo property is proof that the state tax credit is vital," said OHFA Executive Director Dennis Shockley. “The Oklahoma Affordable Housing Act is working like it should—adding more housing stock to rural communities.”

Hugo Affordable Housing homes

Key amenities mean an active community for Hugo Affordable Housing residents

With two car garages and winding streets, the latest Hugo Affordable Housing development looks more like a community of single family homes rather than rental housing for families. A horse shoe sand pit and playground, along with a Cross Fit exercise course mean a vibrant community for those who live there.

Developed by LW Development, LLC and managed by OPM, LLC, these properties are the first completed developments under the state’s Affordable Housing Tax Credit Program. The Oklahoma Affordable Housing Act was signed into law in 2014 with first allocations in 2015.

The development, known as Hugo Affordable Housing, was developed in two phases. Each of the 20 rental homes are set on individual lots rather than the traditional multi-family multi-family development. Of the 20 homes, 16 are three-bedroom and four have four bedrooms. Two of the three bedroom homes have been designed for individuals with special needs. Half of the homes have been set aside for those making at or below 50% of the Area Median Income. The other half are set aside for those making at or below 60% of the Area Median Income.

Amenities in each home include:

  • Ceiling fans
  • Dishwasher
  • Garbage Disposal
  • Security Alarm in each unit
  • Storm shelter in each unit
  • Washer & Dryer hook-ups in each unit
  • Energy Star Efficiency qualified
  • Programmable thermostats

OHFA allocated $209,373 in state and federal tax credits to make the development possible.

Ribbon cutting

Dignitaries gathered to cut the ribbon on the Hugo Affordable Housing development, June 9.

Neighborhood features outdoor amenities

The Hugo Affordable Housing development was designed to get families outdoors and active. Outdoor seating areas, a playground, cross fit exercise course and horseshoe pit encourage a sense of community.

Hugo playground
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