$850K awarded for Austin affordable housing
Federal Home Loan Bank of Dallas (FHLB Dallas) and Texas Capital have granted $850,000 to SAFE, an Austin, Texas-based nonprofit, to support the development of a 60-unit affordable housing complex for victims of abuse and homelessness.
The grant, part of the Affordable Housing Program (AHP), aims to provide safe, high-quality housing along with comprehensive support services for the most vulnerable in Austin.
The multifamily housing development will offer comfort and security to the Austinites who have experienced long-term trauma, homelessness and violence, integrating voluntary, wrap-around services tailored to their needs.
SAFE CEO Julia Spann said, “This development is so important for families fleeing violence who need a safe place to stay. We are grateful for the support we’ve received from FHLB Dallas and Texas Capital.”
Claire Harrison, managing director and Austin market president at Texas Capital, expressed the organization’s commitment to the initiative, saying, “Texas Capital is honored to play a role in this project, which will increase access to safe, supportive housing for the most vulnerable members of our Central Texas community.”
She added, “As we continue investing in our local community, we look forward to strengthening our relationship with SAFE to support the life-saving impact of their work for years to come.”
AHP grants help FHLB Dallas members finance the acquisition, construction and rehabilitation of various housing projects for homeless individuals with household incomes at or below 80 percent of the median area income. Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas, highlighted the impact of the project, saying, “This development will provide affordable housing for some of the most vulnerable populations — those who have experienced trauma, violence and homelessness. We are pleased to help bring this project to life to benefit those who need this critical assistance.”
Last year, FHLB Dallas supported 43 affordable housing projects by awarding a total of $28.4 million in AHP General Fund grants, with 2,677 new or rehabilitated housing units being expected to be created. For this year, $79.4 million has been allocated.
In the featured photo, from left to right, are Worley Barker and Laura Webb with Texas Capital, Alex Fitzgerald with FHLB Dallas, Julia Spann with SAFE, David Lopez and Barbra Boeta with Texas Capital. (Photo: Business Wire)
