A $510,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas), in collaboration with its member Texas Capital, will support the construction of a 34-unit affordable housing development for veterans in Waco, Texas. The groundbreaking ceremony for this project was held last week at the Doris Miller VA Center.
“This affordable housing development is unique as it will be situated on an existing VA campus, providing veterans with immediate access to healthcare and social services right outside their apartment units,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas.
The AHP grant was awarded to Solutions for Veterans, a Georgia-based nonprofit organization dedicated to developing supportive housing and services for veterans at select VA medical centers across the U.S. The $10 million Freedom’s Path Waco project will involve the renovation of three historic buildings on the Waco VA campus, as well as the construction of a new multipurpose community building with eight residential units. The development is expected to be completed by late 2026.
“Texas Capital is honored to support this housing initiative for veterans with disabilities and those at risk of homelessness,” said Worley Barker, director of Community Development Lending and Investments at Texas Capital. “Working with FHLB Dallas on this grant has been a rewarding experience, and we look forward to future collaborations that will benefit communities across the state.”
AHP grants are designed to assist FHLB Dallas members in financing the acquisition, construction, and rehabilitation of housing, including rental and transitional housing and homes for the homeless. Funds must be used to benefit households with incomes at or below 80% of the area median income.
In 2023, FHLB Dallas awarded $28.4 million in AHP General Fund grants to 43 affordable housing projects, helping create or rehabilitate 2,677 housing units. For 2024, $79.4 million has been allocated to the AHP General Fund, with awards to be announced this fall. For more information about the FHLB Dallas Affordable Housing Program, visit their website.
About Texas Capital Bancshares, Inc.
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. Founded in 1998 and headquartered in Dallas, Texas Capital Bancshares provides a comprehensive range of financial services to businesses, entrepreneurs, and individuals through its offices in Austin, Houston, San Antonio, and Fort Worth. The company offers commercial banking, consumer banking, investment banking, and wealth management services. For more information, visit www.texascapital.com.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas, one of 11 district banks in the FHLBank System established by Congress in 1932, is a member-owned cooperative that supports housing and community development. With total assets of $126.2 billion as of June 30, 2024, FHLB Dallas provides competitively priced loans and credit products to approximately 800 members and affiliated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more details, visit fhlb.com.
