Federal Home Loan Bank of Dallas and Texas Capital Award $510K for Veterans Housing
The Federal Home Loan Bank of Dallas (FHLB Dallas) and Texas Capital have awarded a $510,000 Affordable Housing Program (AHP) grant to fund a 34-efficiency unit affordable housing development for veterans in Waco, Texas. The project, named Freedom's Path Waco, will be developed by Solutions for Veterans, a Georgia-based nonprofit. The $10 million development will renovate three existing historic structures on the Waco VA campus and include a new multipurpose community building with eight residential units.
The development is expected to open in late 2026 and will benefit veterans with disabilities, those who are homeless, or at risk of becoming homeless. The AHP grant is part of FHLB Dallas's broader initiative, which awarded $28.4 million in AHP General Fund grants to 43 affordable housing projects in 2023, creating 2,677 new or rehabilitated housing units. For 2024, $79.4 million has been allocated for the AHP General Fund, with awards to be announced in the fall.
La Federal Home Loan Bank di Dallas (FHLB Dallas) e Texas Capital hanno assegnato un contributo di $510.000 per il Programma di Abitazione Accessibile (AHP) per finanziare uno sviluppo di 34 unità abitative accessibili per veterani a Waco, Texas. Il progetto, chiamato Freedom's Path Waco, sarà sviluppato da Solutions for Veterans, un'associazione no-profit con sede in Georgia. Il progetto da $10 milioni prevede la ristrutturazione di tre strutture storiche esistenti nel campus del VA di Waco e includerà un nuovo edificio comunitario polifunzionale con otto unità abitative.
Si prevede che lo sviluppo apra nella fine del 2026 e beneficerà i veterani con disabilità, quelli senzatetto o a rischio di diventarlo. Il contributo AHP fa parte di un'iniziativa più ampia di FHLB Dallas, che ha assegnato $28,4 milioni in sovvenzioni dal Fondo Generale AHP a 43 progetti di abitazione accessibile nel 2023, creando 2.677 nuove unità abitative o riabilitate. Per il 2024, $79,4 milioni sono stati stanziati per il Fondo Generale AHP, con annunci delle assegnazioni in autunno.
El Banco Federal de Préstamos para la Vivienda de Dallas (FHLB Dallas) y Texas Capital han otorgado una para financiar un desarrollo de 34 unidades de vivienda asequible para veteranos en Waco, Texas. El proyecto, llamado Freedom's Path Waco, será desarrollado por Solutions for Veterans, una organización sin fines de lucro con sede en Georgia. El desarrollo de $10 millones renovará tres estructuras históricas existentes en el campus de VA de Waco e incluirá un nuevo edificio comunitario multipropósito con ocho unidades residenciales.
Se espera que el desarrollo abra a finales de 2026 y beneficiará a veteranos con discapacidades, aquellos que están sin hogar o en riesgo de quedarse sin hogar. La subvención AHP es parte de una iniciativa más amplia de FHLB Dallas, que otorgó $28.4 millones en subvenciones del Fondo General AHP a 43 proyectos de vivienda asequible en 2023, creando 2,677 nuevas unidades de vivienda o rehabilitadas. Para 2024, se han asignado $79.4 millones para el Fondo General AHP, con premios que se anunciarán en otoño.
달라스 연방 주택 대출 은행(FHLB 달라스)과 텍사스 캐피탈이 텍사스 주 와코에 있는 퇴역 군인을 위한 34개 효율 유닛의 저소득 주택 개발을 위한 $510,000 저소득 주택 프로그램(AHP) 보조금을 지급하였습니다. 이 프로젝트는 조지아주에 본사를 둔 비영리 단체인 Solutions for Veterans가 개발합니다. 이 $10 million 개발 프로젝트는 와코 VA 캠퍼스 내 세 개의 기존 역사적 건물을 개조하고, 여덟 개의 주거 유닛을 갖춘 새로운 다목적 커뮤니티 건물을 포함할 것입니다.
이 개발은 2026년 말에 개장할 예정이며, 장애가 있는 퇴역 군인, 노숙자 또는 노숙자가 될 위험이 있는 사람들에게 혜택을 줄 것입니다. AHP 보조금은 FHLB 달라스의 더 넓은 이니셔티브의 일환으로, 2023년에는 43개 저소득 주택 프로젝트에 $28.4 million의 AHP 일반 기금 보조금이 지급되어 2,677개의 새로운 또는 재건축된 주택 유닛을 창출했습니다. 2024년에는 $79.4 million이 AHP 일반 기금으로 배정되었습니다, 수상자는 가을에 발표될 예정입니다.
La Federal Home Loan Bank de Dallas (FHLB Dallas) et Texas Capital ont attribué une subvention de 510 000 $ dans le cadre du Programme de Logement Abordable (AHP) pour financer un développement de 34 unités de logement abordable pour les vétérans à Waco, Texas. Le projet, nommé Freedom's Path Waco, sera développé par Solutions for Veterans, une organisation à but non lucratif basée en Géorgie. Le développement de 10 millions $ renouvellera trois structures historiques existantes sur le campus du VA de Waco et comprendra un nouveau bâtiment communautaire polyvalent avec huit unités résidentielles.
Le développement devrait ouvrir fin 2026 et bénéficiera aux vétérans handicapés, aux personnes sans-abri ou à risque de devenir sans-abri. La subvention AHP fait partie d'une initiative plus large de FHLB Dallas, qui a attribué 28,4 millions de $ en subventions du Fonds Général AHP à 43 projets de logement abordable en 2023, créant 2 677 nouvelles unités de logement ou réhabilitées. Pour 2024, 79,4 millions de $ ont été alloués au Fonds Général AHP, avec des prix à annoncer à l'automne.
Die Federal Home Loan Bank in Dallas (FHLB Dallas) und Texas Capital haben einen 510.000 $ Zuschuss für das Programm für bezahlbares Wohnen (AHP) gewährt, um eine Entwicklung von 34 Effizienzwohnungen für Veteranen in Waco, Texas, zu finanzieren. Das Projekt, das den Namen Freedom's Path Waco trägt, wird von Solutions for Veterans, einer gemeinnützigen Organisation mit Sitz in Georgia, entwickelt. Die 10 Millionen $ Entwicklung wird drei bestehende historische Gebäude auf dem VA-Campus in Waco renovieren und einen neuen multifunktionalen Gemeinschaftsraum mit acht Wohneinheiten umfassen.
Es wird erwartet, dass die Entwicklung Ende 2026 eröffnet wird und Veteranen mit Behinderungen, Obdachlosen oder solchen, die vom Obdachloswerden bedroht sind, zugutekommt. Der AHP-Zuschuss ist Teil einer umfassenderen Initiative von FHLB Dallas, die 2023 28,4 Millionen $ an AHP-Allgemeinfondszuschüssen an 43 Projekte für bezahlbares Wohnen vergeben hat und 2.677 neue oder renovierte Wohneinheiten geschaffen hat. Für 2024 wurden 79,4 Millionen $ für den AHP-Allgemeinfonds bereitgestellt, und die Auszeichnungen werden im Herbst bekannt gegeben.
- Texas Capital's participation in funding affordable housing for veterans
- $510,000 AHP grant awarded to support veteran housing development
- Development of 34-efficiency unit affordable housing for veterans
- $10 million investment in Freedom's Path Waco project
- Renovation of historic structures and addition of new units on VA campus
- FHLB Dallas awarded $28.4 million in AHP grants in 2023, creating 2,677 housing units
- $79.4 million allocated for AHP General Fund in 2024
- None.
The $510,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Texas Capital for the Freedom's Path Waco development is a positive step towards addressing veterans' housing needs. However, its direct financial impact on these large institutions is likely minimal.
The $10 million total project cost indicates that the grant covers only about
From an investor's perspective, while this initiative demonstrates corporate social responsibility, it's unlikely to significantly affect the stock performance of Texas Capital or other involved entities. The $28.4 million in AHP General Fund grants awarded in 2023 and the $79.4 million allocated for 2024 provide context for FHLB Dallas's ongoing commitment to affordable housing. These figures, while substantial for community development, are relatively small compared to the overall operations of major financial institutions.
Investors should note that such community development initiatives can enhance a bank's Community Reinvestment Act (CRA) rating, potentially leading to regulatory benefits and improved community relations. However, the long-term financial returns on these investments are often indirect and difficult to quantify.
The Freedom's Path Waco development presents an interesting case study in adaptive reuse and mixed-use development within the constraints of a historic site. The project's approach of renovating three existing historic structures while also constructing a new multipurpose community building showcases a blend of preservation and new development that could serve as a model for similar projects nationwide.
The 34-efficiency unit scale of the project is modest, which may help in managing costs and ensuring high occupancy rates, especially given the targeted veteran demographic. The inclusion of a multipurpose community building with additional residential units demonstrates a holistic approach to community development, potentially enhancing the overall living experience for residents.
The expected completion in late 2026 suggests a lengthy development timeline, which is not uncommon for projects involving historic renovation and new construction on federal property. This extended timeline could pose risks in terms of potential cost overruns or delays, especially considering current volatility in construction material costs and labor markets.
From a market perspective, the project's location on an existing VA campus provides a significant competitive advantage by offering immediate access to healthcare and social services. This integrated approach to veteran housing could set a new standard in the sector and potentially influence future developments targeting similar demographics.
The Freedom's Path Waco development represents a significant step forward in addressing the housing needs of vulnerable veteran populations. By targeting veterans with disabilities and those at risk of homelessness, the project addresses a critical gap in the veteran support system.
The integration of housing with existing VA healthcare and social services creates a comprehensive support ecosystem that can significantly improve outcomes for residents. This model of co-locating supportive housing with VA facilities has shown promise in other locations and could become a blueprint for future veteran housing initiatives.
The involvement of Solutions for Veterans, a nonprofit with experience in developing supportive housing for veterans, adds credibility to the project. Their track record in coordinating services with VA medical centers could be important in ensuring the success of this development.
However, it's important to note that 34 units, while valuable, represent only a fraction of the need for veteran housing in the area. The project's impact should be evaluated not just in terms of units provided, but also in its potential to catalyze similar developments and partnerships in other locations.
For investors in the healthcare and social services sectors, this project highlights the growing trend of integrated care models for veterans, which could create new opportunities in real estate, healthcare technology and supportive services tailored to this demographic.
Funds Will Repurpose Several Historical Buildings and Add New Units in
Left to right: The Honorable Doc Anderson, The Honorable Pete Sessions, Stan Parker, The Honorable Brian Birdwell and Craig Taylor, President, Solutions for Veterans. (Photo: Business Wire)
The AHP grant was awarded to Solutions for Veterans, a
The
“Texas Capital is proud to be a part of this housing development for veterans with disabilities, veterans who may be homeless or at risk of becoming homeless,” said Worley Barker, director, Community Development Lending and Investments at Texas Capital. “It has been a pleasure to work with the FHLB Dallas on this grant and we look forward to partnering on other initiatives that will make a positive impact across the state.”
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 area median income.
“This affordable housing development is special because it will be built on an existing VA campus with healthcare and social services for veterans right outside their apartment units,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “We are pleased to be a part of it.”
In 2023, FHLB Dallas awarded
About Texas Capital Bancshares, Inc.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, the parent company of Texas Capital Bank d/b/a 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
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
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Source: Federal Home Loan Bank of Dallas
FAQ
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