Funds Will Repurpose Several Historical Buildings and Add New Units in Waco, Texas
A $510,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas), through its member Texas Capital, will help fund a 34-efficiency unit affordable housing development for veterans in Waco, Texas. Congressional and state-elected leaders and local dignitaries gathered last week for a ground-breaking ceremony of the development at the Doris Miller VA Center (VA campus).
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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 Georgia-based nonprofit that develops supportive housing and coordinating services for veterans at select VA medical center campuses around the U.S.
The $10 million Freedom’s Path Waco development will renovate three existing historic structures on the Waco VA campus. It will also include a new multipurpose community building with eight residential units. The development is expected to open in late 2026.
“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 $28.4 million in AHP General Fund grants to 43 affordable housing projects. The grants will help create 2,677 new or rehabilitated housing units. In 2024, $79.4 million has been allocated for the AHP General Fund and awards will be announced this fall. Learn more about the FHLB Dallas Affordable Housing Program.
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 Dallas with offices in Austin, Houston, San Antonio and Fort Worth, building a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital established commercial banking, consumer banking, investment banking and wealth management capabilities. Member FDIC. For more information, please visit www.texascapital.com.
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 $126.2 billion as of June 30, 2024, 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. Visit fhlb.com for more information.
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Contacts
Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com, (214) 441-8445
