Welcome to today’s real estate news roundup! In Oklahoma City, a lawmaker has proposed an exciting study on 3D-printed homes to address the pressing issue of affordable housing. By exploring innovative technologies and reducing construction costs, there is hope for bridging the gap in affordable homes and providing solutions for families in need. Meanwhile, the Oklahoma City Metro Association of Realtors has joined forces with the Oklahoma Housing Foundation to support tornado victims in Sulphur, providing over $450,000 in donations to assist the affected community. Additionally, the Oklahoma City Department of Housing and Urban Development has granted $7.1 million to combat homelessness, aiming to provide housing and essential support services for individuals in need. Stay informed and engaged with the latest developments in the real estate market by clicking on the respective links to learn more about each news story.
Oklahoma Lawmaker Proposes 3D-Printed Homes Study To Address Affordable Housing
For many Oklahoma City families, buying a home is not an option. One lawmaker wants to study creative 3D technology to reduce construction costs. Some state leaders are optimistic about its possibilities. They hope to use the technology to solve Oklahoma’s lack of affordable housing. Greg Shinn with the Oklahoma City Housing Authority pointed to the data.
“There’s a huge gap,” said Shinn, talking about the demand for affordable homes. “It feels like it’s overwhelming.” The OKC waitlist for public and Section 8 housing lists more than 29,000 families. “They’re considered severely cost-burdened,” Shinn said.
He said many Oklahoma families face imminent chances of homelessness. “It takes one medical bill; your car breaks down,” Shinn said. Shinn’s office assists people with affordable housing – but it can’t keep up. “It’s just not enough when you look at these numbers,” Shinn said.
Rep. Mickey Dollens, (D-Oklahoma City), is exploring private-sector solutions. “There’s an innovative technology that shows a lot of promise,” Dollens said. Dollens proposed an interim study to study the laws, regulations, and repairs needed to allow 3D-printed homes to be built at affordable prices. “Consider all the different ways that we could go about building these,” Dollens said. “This is gonna prove very beneficial for smaller houses.”
Safety is on Dollens’s mind. He said the goal is to build quality homes without the high price tag. “We don’t wanna cut any corners,” Dollens said. Dollens said limiting corporate control is also important. “A prohibition on any corporate ownership on these homes going forward,” Dollens said.
Shinn said housing investment saves taxpayers’ money and creates jobs. “Those are lasting jobs because the housing will be sustainable,” Shinn said. “Things we never dreamed of are possible now.” However, Shinn believes the financial security of its people measures the health of a community. “We all benefit from that,” Shinn said.
Dollens said the results of this study will direct them on their legislative priorities next session. Dollens said a company out of Austin, Texas called Icon is leading the way for 3D-printed homes.
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Oklahoma City realtors donate over $450,000 to tornado victims in Sulphur
The Oklahoma City Metro Association of Realtors (OKCMAR) has joined forces with the Oklahoma Housing Foundation to provide much-needed donations for those affected by the devastating tornado in Sulphur on April 27. Over $450,000 has been made available to support the community surrounding Sulphur.
OKCMAR, in collaboration with the Oklahoma Housing Foundation, distributed more than $50,000 to over 200 families in the form of $250 checks. This financial aid aims to assist those who have been impacted by the tornado and are in need of support.
Emilykaye Mitchelson, OKCMAR Board President, expressed the caring nature of realtors, stating, “Nobody cares more about their communities than Realtors. We know that when people are suffering, they need caring professionals to provide advice, support, and financial aid.”
In addition to the direct assistance provided to Sulphur, OKCMAR also donated $30,000 to the Realtor Relief Fund (RRF), which has helped provide aid in Marietta, Ardmore, and Barnsdall.
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Oklahoma City Grants $7.1 Million Towards Fighting Homelessness
The Oklahoma City Department of Housing and Urban Development has granted $7.1 million to combat homelessness in the city. As the largest source for housing assistance funds, this department plays a crucial role in addressing the issue of homelessness.
The grant will be utilized to provide housing for individuals in need and support case management services. By investing in these initiatives, Oklahoma City is taking significant steps towards helping those experiencing homelessness and creating a positive impact in the community.
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