Dallas has unveiled a new affordable apartment complex, Oak Lawn Place, which is both LGBTQIA+-friendly and designed for residents aged 55 and older. This development was made possible by a $750,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas), awarded through Veritex Community Bank.
The Oak Lawn Place apartments are supported by the Resource Center of Dallas, an organization established in 1983 to assist people with HIV/AIDS and now offering broader LGBTQIA+ services. “The $750,000 AHP grant from FHLB Dallas was crucial in securing the necessary funding for Oak Lawn Place,” said Cece Cox, CEO of the Resource Center of Dallas. “We are thrilled to bring this welcoming residential development to Dallas.”
AHP grants support various projects including home rehabilitation, first-time homebuyer assistance, and the construction of affordable housing. Next month, FHLB Dallas will announce nearly $100 million in AHP grants for affordable housing projects through its member institutions.
Veritex Community Bank played a key role in this initiative, with Senior Vice President and Community Development Officer Courtney Taylor highlighting the bank’s commitment: “Our partnership with FHLB Dallas and the AHP allowed us to support this essential affordable housing development.”
Oak Lawn Place is equipped with amenities such as meeting rooms, a fitness center, a dog park, and onsite activities, and is conveniently located near healthcare facilities, public transportation, and entertainment options. Rent will be based on income.
“This project exemplifies affordable housing tailored to meet specific needs in Dallas,” said Greg Hettrick, Senior Vice President and Director of Community Investment at FHLB Dallas. “We are pleased to work with Veritex Bank to provide critical funding that helps bring such projects to fruition.”
