Funds Will Be Used to Create Three Affordable Housing Projects to Serve Homeless Population

The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that three Affordable Housing Program (AHP) grants totaling $2.5 million have been awarded in U.S. Representative Lloyd Doggett’s district.

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U.S. Representative Lloyd Doggett (Photo: Business Wire)

“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,” said Congressman Doggett.

The funds will be used for three projects in Austin, Texas:

• Cairn Point at Cameron: Austin Housing Finance Corp. received a grant of $850,000 from FHLB Dallas through member Frost Bank. The funds will be used to develop Cairn Point at Cameron — a 150-unit affordable and supportive housing community focused on seniors aged 55 and over who have experienced homelessness.

• Cady Lofts: Austin Affordable Housing Corp. received a grant of $850,000 from FHLB Dallas through member Cadence Bank. The funds will be used for the completion of Cady Lofts — 100 furnished efficiency apartments to house individuals experiencing homelessness and those with physical and mental disabilities.

• The Lancaster: The SAFE Alliance Affordable Housing Corp. received a grant of $850,000 from FHLB Dallas through member Texas Capital Bank. The funds will be used to develop The Lancaster — 60 units of supportive housing that will provide high-quality housing paired with voluntary, wrap-around services for Austin’s homeless population.

AHP funding assists 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.

In 2023, FHLB Dallas awarded $28.4 million in AHP grants to 43 affordable housing projects to help create 2,677 new or rehabilitated housing units in its District, which includes Texas.

“We are so thankful for Congressman Doggett’s support for affordable housing initiatives that will make a difference in the lives of Texans,” said Bre Chapman, executive vice president, chief ESG and administrative officer at FHLB Dallas. “These projects will go a long way toward easing the housing shortage in Austin.”

This year, $99.4 million has been allocated for AHP and Homeownership set-aside grants, which also help first-time homebuyers, special-needs households such as the disabled and homeowners impacted by disasters. Learn more at fhlb.com/ahp.

About Congressman Doggett

Congressman Lloyd Doggett is an elected member of the United States House of Representatives from Texas’ 37th Congressional District. Rep. Doggett serves as Ranking Member of the Health Subcommittee on the House Ways & Means Committee. He was elected in 1994 and is a native of Austin, Texas.

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. For more information, visit fhlb.com.

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