Latest news with #FHLBDallasAffordableHousingProgram
Yahoo
3 days ago
- Business
- Yahoo
Affordable Apartments Receive $1M Grant from FHLB Dallas and Arvest Bank
Officials Gather for Grand Opening of Arkansas Development for Residents 55 and older GRAVETTE, Ark., June 25, 2025--(BUSINESS WIRE)--Spavinaw Creek Senior Housing, which was built with the help of a $1 million Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Arvest Bank, celebrated its grand opening today in Gravette, Arkansas. The AHP grant helped pay for the construction of the $7.3 million rental complex for residents ages 55 and older. The one- and two-bedroom apartments are reserved for residents with incomes that are 30 percent to 60 percent of the area's median income. "The funding allowed us to buy what was an abandoned former assisted living center, demolish it and build brand new affordable housing for seniors in Gravette," said Matt Darst, principal with Upward Housing Group. "The AHP grant filling the financing gap for our construction to deliver a fresh, new, energy efficient, affordable housing development that we are all proud of." The apartment complex opened in May and is nearly fully occupied, he said. "Spavinaw Creek Senior Housing addresses an extremely tight affordable housing market in Gravette and provides beautiful new housing that the city's aging residents can afford," Arvest Group CRA Director Virgil Miller said. "The support this project received from FHLB Dallas was critical in getting to the finish line." The development is near parks and walking trails and includes a clubhouse with a computer center, WiFi access and a book exchange library. AHP funds assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. The funds must be used to benefit households with incomes at or below 80 percent of the median income for the area. "We value our relationship with Arvest Bank, which has supported many affordable housing developments over the years in Arkansas using our AHP grants," said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. "Our AHP grants have a long history of providing gap funding for affordable housing developments throughout our five-state District." In 2024, FHLB Dallas awarded $78.9 million in AHP General Fund grants to 41 affordable housing projects. The grants will help create 3,571 new or rehabilitated housing units. FHLB Dallas will announce 2025 grant awardees this fall. Learn more about the FHLB Dallas Affordable Housing Program. About Arvest Bank With more than $26 billion in assets, Arvest Bank is a community-based financial institution serving more than 110 communities in Arkansas, Kansas, Missouri and Oklahoma. Established in 1961, Arvest Bank is committed to meeting the needs of its more than 830,000 retail and business customer households by continually investing in the digital tools and services customers expect. Its extensive network of more than 200 banking locations provides loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing as a part of its growing list of digital services. Arvest is known for its commitment to the communities it serves and to attracting, hiring and retaining a diverse group of talented people. Arvest is an Equal Housing Lender and Member FDIC. To learn more please visit About the Federal Home Loan Bank of Dallas The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $109.9 billion as of March 31, 2025, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit View source version on Contacts Corporate CommunicationsFederal Home Loan Bank of (214) 441-8445 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
3 days ago
- Business
- Business Wire
Affordable Apartments Receive $1M Grant from FHLB Dallas and Arvest Bank
GRAVETTE, Ark.--(BUSINESS WIRE)--Spavinaw Creek Senior Housing, which was built with the help of a $1 million Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Arvest Bank, celebrated its grand opening today in Gravette, Arkansas. The AHP grant helped pay for the construction of the $7.3 million rental complex for residents ages 55 and older. The one- and two-bedroom apartments are reserved for residents with incomes that are 30 percent to 60 percent of the area's median income. 'The funding allowed us to buy what was an abandoned former assisted living center, demolish it and build brand new affordable housing for seniors in Gravette,' said Matt Darst, principal with Upward Housing Group. 'The AHP grant filling the financing gap for our construction to deliver a fresh, new, energy efficient, affordable housing development that we are all proud of.' The apartment complex opened in May and is nearly fully occupied, he said. 'Spavinaw Creek Senior Housing addresses an extremely tight affordable housing market in Gravette and provides beautiful new housing that the city's aging residents can afford,' Arvest Group CRA Director Virgil Miller said. 'The support this project received from FHLB Dallas was critical in getting to the finish line.' The development is near parks and walking trails and includes a clubhouse with a computer center, WiFi access and a book exchange library. AHP funds assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. The funds must be used to benefit households with incomes at or below 80 percent of the median income for the area. 'We value our relationship with Arvest Bank, which has supported many affordable housing developments over the years in Arkansas using our AHP grants,' said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. 'Our AHP grants have a long history of providing gap funding for affordable housing developments throughout our five-state District.' In 2024, FHLB Dallas awarded $78.9 million in AHP General Fund grants to 41 affordable housing projects. The grants will help create 3,571 new or rehabilitated housing units. FHLB Dallas will announce 2025 grant awardees this fall. Learn more about the FHLB Dallas Affordable Housing Program. About Arvest Bank With more than $26 billion in assets, Arvest Bank is a community-based financial institution serving more than 110 communities in Arkansas, Kansas, Missouri and Oklahoma. Established in 1961, Arvest Bank is committed to meeting the needs of its more than 830,000 retail and business customer households by continually investing in the digital tools and services customers expect. Its extensive network of more than 200 banking locations provides loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing as a part of its growing list of digital services. Arvest is known for its commitment to the communities it serves and to attracting, hiring and retaining a diverse group of talented people. Arvest is an Equal Housing Lender and Member FDIC. To learn more please visit About the Federal Home Loan Bank of Dallas The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $109.9 billion as of March 31, 2025, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit
Business Wire
23-05-2025
- Business
- Business Wire
Federal Home Loan Bank of Dallas and Southwest Capital Bank Award $220K to Special Needs Affordable Housing Development
SOCORRO, New Mexico--(BUSINESS WIRE)--Representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Southwest Capital Bank (Southwest Capital) attended a ribbon cutting ceremony yesterday for Vista de Socorro Apartments. Completion was made possible in part by a $220,000 Affordable Housing Program (AHP) grant through FHLB Dallas member Southwest Capital. Investing in affordable housing is a meaningful way to strengthen communities, create stability for residents and build a bright future for New Mexico families. Share Vista de Socorro Apartments is a 32-unit complex in Socorro, New Mexico, with one- and two-bedroom housing for low-income individuals and families. It has seven units reserved for people with disabilities. 'This project meets the pressing need for both affordable housing for at-risk populations and special needs residents,' said Anthony Ortiz, controller and senior vice president at Southwest Capital. 'We are so pleased to be a part of this project.' AHP funds assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for individuals. The funds must be used to benefit households with incomes at or below 80 percent of the median income for the area. 'Investing in affordable housing isn't just good business—it's a meaningful way to strengthen communities, create stability for residents and build a future for New Mexico families,' said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. In 2024, FHLB Dallas awarded nearly $100 million in AHP grants for 4,833 units that support housing affordability in its District, which includes Arkansas. This year, $149.5 million has been allocated for the AHP, homeownership grants and voluntary programs, such as home repair assistance for military veterans and small business loans. Learn more about the FHLB Dallas Affordable Housing Program. About Southwest Capital Bank Southwest Capital Bank is a family-owned community bank in New Mexico, specializing in commercial lending and known for its focus on building relationships and supporting local businesses and communities. Their focus is on community banking, particularly commercial lending, with a strong emphasis on building relationships. Southwest Capital Bank was founded in 1890 and are headquartered in Albuquerque, New Mexico. About the Federal Home Loan Bank of Dallas The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $109.9 billion as of March 31, 2025, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit
Yahoo
20-05-2025
- Business
- Yahoo
$750K Affordable Housing Program Grant from FHLB Dallas and Texas Capital Helps Fund New Shelter for Homeless Houston Youth
Residents Will Have Access to Robust Support Services HOUSTON, May 20, 2025--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas) and Texas Capital joined Covenant House Texas (Covenant House), community partners and local leaders on Friday to celebrate the opening of Covenant House, a safe haven for youth aged 18-24. FHLB Dallas provided a $750,000 grant through its flagship Affordable Housing Program (AHP). The AHP grant, which FHLB Dallas awarded through Texas Capital, supported the expansion of residential housing in Houston, Texas, for 52 unaccompanied young men and women. The funds are critical to completing this project and reducing homelessness in Houston. Residential capacity will be doubled for young adults and households with children under 5 years old. AHP grants assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. The funds must be used to benefit households with incomes at or below 80 percent of the median income for the area. In 2024, FHLB Dallas awarded nearly $100 million in AHP and AHP homeownership grants for 4,833 units that support housing affordability in its District, which includes Texas. "Projects like this can be transformative to communities in many ways," said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. "We applaud Texas Capital for leveraging FHLB Dallas AHP grants to invest in its communities." Learn more about the FHLB Dallas Affordable Housing Program. About Texas Capital Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank ("TCB"). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities. All services are subject to applicable laws, regulations, and service terms. Deposit and lending products and services are offered by TCB. For deposit products, member FDIC. For more information, please visit About the Federal Home Loan Bank of Dallas The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $109.9 billion as of March 31, 2025, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit View source version on Contacts Corporate CommunicationsFederal Home Loan Bank of (214) 441-8445 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
$750K Affordable Housing Program Grant from FHLB Dallas and Texas Capital Helps Fund New Shelter for Homeless Houston Youth
Residents Will Have Access to Robust Support Services HOUSTON, May 20, 2025--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas) and Texas Capital joined Covenant House Texas (Covenant House), community partners and local leaders on Friday to celebrate the opening of Covenant House, a safe haven for youth aged 18-24. FHLB Dallas provided a $750,000 grant through its flagship Affordable Housing Program (AHP). The AHP grant, which FHLB Dallas awarded through Texas Capital, supported the expansion of residential housing in Houston, Texas, for 52 unaccompanied young men and women. The funds are critical to completing this project and reducing homelessness in Houston. Residential capacity will be doubled for young adults and households with children under 5 years old. AHP grants assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. The funds must be used to benefit households with incomes at or below 80 percent of the median income for the area. In 2024, FHLB Dallas awarded nearly $100 million in AHP and AHP homeownership grants for 4,833 units that support housing affordability in its District, which includes Texas. "Projects like this can be transformative to communities in many ways," said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. "We applaud Texas Capital for leveraging FHLB Dallas AHP grants to invest in its communities." Learn more about the FHLB Dallas Affordable Housing Program. About Texas Capital Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank ("TCB"). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities. All services are subject to applicable laws, regulations, and service terms. Deposit and lending products and services are offered by TCB. For deposit products, member FDIC. For more information, please visit About the Federal Home Loan Bank of Dallas The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $109.9 billion as of March 31, 2025, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit View source version on Contacts Corporate CommunicationsFederal Home Loan Bank of (214) 441-8445 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
