HOUSTON, Dec. 19, 2011 (GLOBE NEWSWIRE) -- Mayor Annise Parker along with other state and local officials joined representatives of Amegy Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) on Thursday, December 15, 2011, to present more than $1 million in Affordable Housing Program (AHP) grant funds to three Houston-area affordable housing projects. Approximately $1.1 million was awarded to Travis Street Plaza, LP, Catholic Charities of the Archdiocese of Galveston-Houston (Catholic Charities), and Village Learning Center, Inc. to assist the organizations in constructing affordable housing facilities for low-income and special needs families.
Photos accompanying this release are available at
http://www.globenewswire.com/newsroom/prs/?pkgid=11275
http://www.globenewswire.com/newsroom/prs/?pkgid=11276
http://www.globenewswire.com/newsroom/prs/?pkgid=11274
"In these difficult times, partnerships between the private, public and nonprofit sectors are more important than ever to provide quality affordable housing for the most vulnerable members of our population – homeless veterans, seniors and persons with disabilities," said City of Houston Mayor Annise Parker. "The City is grateful for FHLB Dallas and Amegy Bank's continual investment in Houston's housing and community development endeavors."
AHP grants are awarded through FHLB Dallas member financial institutions, such as Amegy Bank, to assist in the development of affordable, owner-occupied and rental housing for very low- to moderate-income households. In 2011, FHLB awarded $11 million in AHP funding to 53 projects across its five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. The funding will result in the creation or rehabilitation of 1,653 housing units across the District.
Amegy Bank has been a tremendous partner and advocate of the AHP for many years. Since 2005, Amegy Bank has awarded approximately $4 million in AHP funding to Houston projects. Each year, Amegy Bank works diligently to partner for AHP funding with dedicated organizations that are committed to providing quality housing and services to the community.
"Amegy Bank is proud to partner with FHLB Dallas and participate in its Affordable Housing Program," said Amegy President Steve Stephens. "We believe that it is our responsibility to support the communities that we serve, and the AHP grants give us a unique opportunity to address the diverse affordable housing needs throughout Houston and the Texas area."
Travis Street Plaza, LP received a $500,000 AHP grant to construct a five-story supportive housing development for homeless and disabled veterans in downtown Houston. The facility will be an addition to the existing 286-unit facility that is already on the property. The existing facility was converted from a Days Inn Motel, and provides short-term and long-term transitional housing for its residents. The new facility will contain 192 units, and will provide subsidized permanent housing for homeless and disabled veterans. Residents will have access to supportive services, such as counseling, medical care, job training, and rehabilitation. Construction has begun on the new facility with hopes that it will open by the end of 2012.
"We are absolutely thrilled about this project," said Tim Cantwell, manager of Travis Street Plaza, LP, and co-owner of Cantwell-Anderson, Inc., the developer for the project. "We construct affordable housing facilities and cater to the needs of homeless and disabled veterans across the country, and we hope to be doing more and more in Texas. This is our first time to work with FHLB Dallas, and the AHP grant is a great fit for this project and for our organization. It has been a source of encouragement, and we feel fortunate to have such support from Amegy Bank, FHLB Dallas, and the City of Houston."
Catholic Charities also received a $500,000 AHP grant to construct an 84-unit affordable housing complex for senior citizens in east Houston. Catholic Charities President Bonna Kol said senior citizens are among the fastest growing populations needing safe, quality and affordable housing. This new apartment community will offer one-bedroom units, a community room, coffee bar, fitness facility, barbeque area and garden, kitchen, and laundry facilities.
"Amegy Bank has been very kind to us over the years," said Ms. Kol. "They have provided us financing for previous projects and we were very excited to find out we were candidates for the AHP grant. We recognize the need for affordable housing for senior citizens, and this project is a great fit for our organization."
Catholic Charities hopes to wrap up its capital campaign in mid-2012 and begin construction by the end of that year.
Village Learning Center, Inc. was awarded $98,000 in AHP funding, which completes the financing for a 15-unit apartment community for adults with developmental disabilities. The facility will promote an independent-living environment for special needs individuals and families. There will be six 1-bedroom, six 2-bedroom, and three 3-bedroom apartments. All residents will pay subsidized rent and the facility will be fully handicap accessible. Village Learning Center, Inc. partnered with the Mental Health Mental Retardation Authority (MHMRA) to make this project possible.
"This is a great, great project, and we feel very fortunate to have received the AHP grant to cover the funding gap in construction expenses," said Kim Brusatori, founder and chief executive officer of Village Learning Center, Inc. "We have a few more steps before we begin construction, but hope to break ground within the first quarter of 2012."
The new facility will offer a universal, barrier-free design, which will accommodate the aging residents and ensure easy access for residents, staff and guests. All plumbing and kitchen appliances will also be Energy Star compliant.
Thursday's check presentation was held at the Mayor's office in Houston. Mayor Parker praised the nonprofit organizations for their diligent work in Houston and surrounding communities, and thanked Amegy Bank and FHLB Dallas for providing funding to help address the city's critical need for safe, quality, and affordable housing for all Houston residents.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $31.4 billion as of September 30, 2011, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information about FHLB Dallas and its programs, please visit fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013
The photos are also available via AP PhotoExpress.
