FHLBank Chicago Celebrates Grand Opening of the Harry and Jeanette Weinberg Residences at Woodale Crossing
FHLBank Chicago awarded a $1 million Affordable Housing Program (AHP) General Fund grant through member CIBC Bank USA to assist with construction.
Woodale Crossing features 56 high-quality, affordable apartments for adults aged 55 and older, with 25% of the units designated for residents with disabilities who have experienced homelessness. The development includes on-site supportive services provided by JFS, helping residents maintain stability, wellness, and independence.
'CIBC is proud to support a development that expands access to affordable housing that addresses the unique needs of older adults and residents with disabilities,' said Adam Rogers, Managing Director at CIBC Bank USA. 'Woodale Crossing proactively creates more affordable housing in our community.'
AHP grants subsidize the acquisition, new construction, or rehabilitation of rental or owner-occupied housing. Delivered in partnership with FHLBank Chicago financial institution members, these forgivable grants help address ongoing housing supply challenges by expanding access to quality affordable housing in many communities.
'Woodale Crossing reflects what's possible when housing is designed with long-term wellbeing in mind,' said Katie Naftzger, SVP and Community Investment Officer at FHLBank Chicago. 'We are proud to partner with CIBC and JFS to support a development that meets both housing and service needs in a meaningful way.'
In 2024, FHLBank Chicago awarded $48 million in AHP General Fund grants to 35 affordable housing projects, helping create over 1,300 new or rehabilitated housing units. FHLBank Chicago will announce 2025 grant awardees this fall.
'Affordable housing remains inaccessible to many of my constituents and Americans nationwide. I am thankful to the leaders and partners who made these important investments and helped respond to a critical need in our community. These new residences will give more seniors and people with disabilities in Brown Deer the stability and security of a high-quality, affordable home,' said Rep. Gwen Moore (WI‑4).
JFS led the development with support from financial partners, community stakeholders, and FHLBank Chicago's AHP General Fund. Other partners included the Wisconsin Housing and Economic Development Authority (WHEDA), National Equity Fund, the Harry and Jeanette Weinberg Foundation, Otto Bremer Trust, Bader Philanthropies, and Milwaukee County.
'Woodale Crossing was designed to support residents in living independently while having access to services that help them thrive,' said Daniel Fleischman, Vice President of Housing and Residential Services at JFS. 'This community reflects our belief that stability, respect, and access to care should be part of every housing solution.'
For additional information about FHLBank Chicago's AHP General Fund, please visit fhlbc.com.
About the Federal Home Loan Bank of Chicago
FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members' customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit fhlbc.com.
About Jewish Family Services (JFS)
For 158 years, Jewish Family Services (JFS) has provided critical support services to thousands of individuals, families and children in the greater Milwaukee area. JFS offers quality community-based programs that improve the health, personal well-being and levels of independence of persons with intellectual and developmental disabilities, physical disabilities, age related disabilities, mental health issues and families with low household incomes. JFS' services are not exclusive to the Jewish community; individuals representing all religions, races, and ethnicities, are eligible to participate in JFS programs. Their geographic service areas include Milwaukee, Ozaukee, Waukesha, and Washington counties with the vast majority of individuals residing in the city of Milwaukee.
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