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Austin: Affordable Housing Project Awarded $850K

Feature Photo: 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.

Posted: 6-18-2024

Austin (Travis County) — An $850,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas), through its member Texas Capital, will help fund a 60-unit multifamily affordable housing development designed for victims of abuse and homelessness.

The AHP grant was awarded to SAFE, an Austin-based nonprofit that supports survivors of child abuse, sexual assault, domestic violence and sex trafficking. A ceremonial groundbreaking was held this week to commemorate the occasion.

“This development is so important for families fleeing violence who need a safe place to stay,” said Julia Spann, CEO of SAFE. “We are grateful for the support we’ve received from FHLB Dallas and Texas Capital.”

The Lancaster will provide high-quality housing paired with voluntary, wrap-around services for Austin’s most vulnerable. It’s designed with comfort and safety in mind for those who have experienced long-term trauma, violence and homelessness.

“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,” said Claire Harrison, managing director and Austin market president at Texas Capital. “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 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 median income for the area.

“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,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas.

Edited from news release.

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