Local Organization Aims To Boost Homeownership For Minority Residents In Tulsa

The Greenwood Chamber of Commerce is launching an initiative to increase homeownership among Black and Hispanic populations in Tulsa, particularly in North Tulsa, to raise homeownership rates by 31% by 2031.

President Freeman Culver highlighted the significance of preserving the remaining commercial properties on Greenwood, which were designated for historic preservation in 2021.

He emphasized the need to not only protect these sites but also to reestablish homeownership in the surrounding areas.

A key partner in this initiative is American Bank Oklahoma, which is working with the Chamber to provide community members with up to $10,000 to assist with closing costs, home repairs, or down payments. Interested individuals must meet specific qualifications to participate.

Culver underscored the importance of homeownership for the community, stating, “Homeownership means not only do you have a voice, but you have a buy-in. You become a stakeholder in that community. We want the community to thrive and for people in our community to stay and grow their families. This is a great start.”

Culver acknowledged that minorities face several challenges in achieving homeownership, including meeting credit score requirements and affording down payments.

For those interested in learning more about the program, check out the American Bank Oklahoma website.