Oklahoma City is cracking open its massive 2025 bond package and directing $5 million into low-interest loans designed to keep existing apartments both livable and affordable. The money is headed to two local complexes: The Shane and the Villas at Stonelake.
According to a July 23 report from The Oklahoman, the city is tapping its 2025 bond funds to provide $5,000,000 in low-interest housing loans that support repairs and help preserve below-market rents at the properties.
Voters signed off on a $2.7 billion bond in October 2025 that carved out money for economic and community development, including housing. The City of Oklahoma City notes that the package set aside $175 million specifically for economic and community development and affordable housing, and city leaders are now starting to put that pot of money to work.
Who Will Get the Money?
As reported by The Oklahoman, The Shane is slated to receive $3,000,000 in low-interest financing, while the Villas at Stonelake will get $2,000,000. The paper notes that these loans are among the first targeted uses of the housing portion of the 2025 bond package.
Villas at Stonelake and Financing Details
State housing finance records describe the Villas at Stonelake as a 160-unit apartment community at 7404 Lyrewood Lane. The Oklahoma Housing Finance Agency has approved an inducement of tax-exempt multifamily bonds to support the complex’s acquisition and major rehabilitation. According to the Oklahoma Housing Finance Agency, that bond financing will be paired with federal housing tax credits so the owners can carry out extensive upgrades while keeping units affordable.
Why City Officials Say the Loans Matter
City officials say these low-interest loans are meant to draw in private investment for repairs and upgrades while protecting more apartments for working families who cannot absorb big rent hikes. When it outlined the 2025 bond, the City of Oklahoma City emphasized that economic and community development, including housing, would be a priority, and this round of loans is one of the first concrete moves toward that goal.
Officials describe this as an early step in deploying the bond’s housing funds, with more commitments expected as additional projects clear the city’s vetting process and meet program requirements. The real test will be whether these dollars translate into long-term preservation of affordable rents and better day-to-day living conditions for the residents who call these properties home.
