FHLB Dallas & Texas Capital Bank Grant $2M for Austin Supportive Housing
A significant milestone in Austin, Texas, was recently celebrated as a ceremonial groundbreaking took place for a 60-unit supportive housing community aimed at serving the city’s housing-fragile population. This ambitious development is being made possible through a $1.98 million Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas), in partnership with Texas Capital Bank. The initiative underscores a growing commitment to addressing the pressing issue of affordable housing, particularly for vulnerable communities in Central Texas.
The AHP grant was awarded to SAFE, an Austin-based nonprofit organization dedicated to ending multigenerational cycles of violence and abuse. SAFE has long been at the forefront of providing resources and support for survivors of domestic violence, sexual assault, child abuse, and human trafficking. With this funding, SAFE will further its mission by ensuring stable housing for those in dire need, offering them not just a roof over their heads but a foundation for a more secure and hopeful future.
The Sasha: A Sanctuary for the Vulnerable
The new development, named The Sasha, is designed to provide high-quality, secure housing combined with essential voluntary wraparound services. These services are intended to support some of Austin’s most at-risk individuals, ensuring they have access to necessary resources to maintain stability and independence.
The Sasha will prioritize individuals transitioning out of homelessness, those at risk of becoming homeless, individuals with disabilities, youth aging FHLB Dallas out of foster care, and survivors of domestic violence, dating violence, sexual assault, and stalking. By focusing on these demographics, the development aims to bridge the gap between temporary shelter and long-term housing security, addressing the root causes of homelessness and housing instability.
A Commitment to Affordable and Supportive Housing
Texas Capital Bank has been a key partner in this initiative, demonstrating its commitment to community development and affordable housing solutions. Todd Jordan, Texas Capital’s Austin Market President, emphasized the importance of such investments in fostering stronger communities.
“Investing in affordable and permanent supportive housing is a top priority for Texas Capital,” Jordan stated. “With partners like SAFE, we are able to invest in projects that will have a positive impact on the lives of some of the most vulnerable members of our Central Texas community.”
His remarks underscore the critical role of financial institutions in funding and supporting affordable housing initiatives, especially in rapidly growing cities like Austin, where rising housing costs have exacerbated homelessness and housing insecurity.
The Role of AHP Grants in Community Development
The Affordable Housing Program (AHP) is a crucial initiative that assists Federal Home Loan Bank members in financing the purchase, construction, and rehabilitation of affordable housing. The program supports a variety of housing needs, including owner-occupied housing, rental units, transitional housing, and shelters for homeless individuals. Importantly, AHP funds must be allocated to benefit households earning at or below 80 percent of the area median income (AMI), ensuring that assistance reaches those who need it most.
Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas, expressed pride in supporting this project and reaffirmed the organization’s dedication to expanding affordable housing options.
“We are pleased to help bring this project to life to benefit those who need this critical assistance,” Hettrick said. “The impact of secure, affordable housing extends far beyond shelter; it provides stability, dignity, and an opportunity for individuals and families to rebuild their lives.”
The Urgent Need for Supportive Housing in Austin
Austin has been grappling with a growing affordable housing crisis, exacerbated by rapid population growth and rising real estate prices. The demand for FHLB Dallas affordable and supportive housing has never been more urgent. According to recent data, thousands of individuals in Austin experience homelessness, and many more live on the brink, struggling to keep up with increasing rental costs.
Organizations like SAFE, in collaboration with funding from institutions like FHLB Dallas and Texas Capital Bank, are playing a crucial role in addressing these challenges. By focusing FHLB Dallas on supportive housing models that integrate services such as mental health counseling, job training, and case management, The Sasha aims to not only provide shelter but also empower its residents to achieve long-term stability and self-sufficiency.
A Model for Future Housing Initiatives
The Sasha represents a forward-thinking approach to addressing homelessness and housing insecurity. Rather than serving as a temporary shelter, it provides permanent supportive housing, which has been proven to be one of the most effective solutions for ending chronic homelessness. The FHLB Dallas combination of stable housing with voluntary services tailored to residents’ needs ensures that individuals can recover from trauma, regain independence, and reintegrate into the community successfully.
As the project moves forward, it serves as a model for future housing initiatives in Austin and beyond. The collaboration between public, private FHLB Dallas , and nonprofit sectors highlights the importance of a multi-faceted approach to tackling housing insecurity. With continued investment in such initiatives, cities can make meaningful progress in reducing homelessness and providing stable housing solutions for their most vulnerable residents.
