Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-Thirteen Texas cities have won a combined $2.2 million in grants from the Federal Home Loan Bank of Dallas for 18 affordable housing projects with 720 units.

Grants were awarded for projects in Bryan, Dallas, Denton, El Cenzio, Fort Worth, Fredericksburg, Grapevine, Houston, Leander, Mason, San Antonio, Temple and Uvalde. The aggregate development cost is more than $59 million.

The bulk of the grants went to programs to help first-time homebuyers with closing and down payment costs, but the stack did include four multifamily developments.

The town of Leander got $350,000 that will be funneled through the First State Bank of Texas in Temple to build a 72-unit facility, Cedar Ridge II, for very low-income families.

The City of Bryan was awarded $315,000 for Crestview Unity, a multifamily project for very low-income elderly residents. The capital will flow through First National Bank of Bryan.

In Grapevine, the Glade Corners Retirement Community secured $329,000 via Summit Bank in Fort Worth to build a 66-unit facility for low- and moderate-income elderly.

A 280-bed project, the Oaks III in Dallas, walked away with $300,000 through Texas Capital Bank. The aid will help build an assisted living facility for moderate-income elderly.

Single-family assistance, including “sweat equity” programs, brought $100,000 for Fort Worth. A $50,000 grant went to Central City Revitalization in Fort Worth for down payment assistance to 10 first-time homebuyers while United for Families First also got $50,000 through TexasBank to help another 10 families with down payments.

In Dallas, Guaranty Bank got $200,000 for various community assistance mortgage programs to help 100 first-time buyers in Texas and California with closing costs. The Hasty Road Project, through Guaranty Bank, got $78,000 to help 26 buyers with down payments and Pleasant Oaks Estates, via Inwood National Bank, was given $50,000 to aid 10 buyers.

Houston’s only funded project in the latest round is Delaney Development, which is getting $50,500 to help 13 first-time buyers with down payment aid.

The Federal Home Loan Bank of Dallas issues grants twice a year through its affordable housing program. About $134 million has been awarded to help complete in excess of 31,000 units since the federal program began.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.