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- FHLB Dallas Awards $2.5 Million in Affordable Housing Grants in Austin
FHLB Dallas Awards $2.5 Million in Affordable Housing Grants in Austin
Slice of Real Estate Team
August 09, 2024
Key Highlights:
$2.5 million in Affordable Housing Program grants awarded in Austin, Texas.
Three projects to benefit from the funding: Cairn Point at Cameron, Cady Lofts, and The Lancaster.
Grants aim to support seniors, homeless individuals, and those with disabilities.
Total AHP grants in 2023: $28.4 million, creating 2,677 housing units in Texas.
Source (Business Wire)
Notable Quotes:
“This is a welcome response to one of our community’s most pressing needs. As we work to improve Austin’s affordability, these funds will help our most vulnerable neighbors have a safe place to call home. I applaud the Federal Home Loan Bank of Dallas’ continued commitment to support housing and community development in Central Texas.”
“We are so thankful for Congressman Doggett’s support for affordable housing initiatives that will make a difference in the lives of Texans. These projects will go a long way toward easing the housing shortage in Austin.”
Our Take:
The recent allocation of $2.5 million by the Federal Home Loan Bank of Dallas to affordable housing projects in Austin is a significant step in addressing the city’s housing crisis. The targeted funding towards senior citizens, individuals experiencing homelessness, and those with disabilities showcases a strategic approach to inclusivity and support for vulnerable populations. By enabling the development of projects like Cairn Point at Cameron, Cady Lofts, and The Lancaster, this initiative not only provides immediate relief but also lays a foundation for long-term community stability. This substantial commitment by FHLB Dallas highlights the pivotal role of collaborative efforts between financial institutions and local organizations in fostering sustainable housing solutions.