{"id":790227,"date":"2023-10-12T22:49:18","date_gmt":"2023-10-13T02:49:18","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/comerica-and-fhlb-dallas-celebrate-opening-of-affordable-apartments-helped-by-750k-in-funding\/"},"modified":"2023-10-12T22:49:18","modified_gmt":"2023-10-13T02:49:18","slug":"comerica-and-fhlb-dallas-celebrate-opening-of-affordable-apartments-helped-by-750k-in-funding","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/comerica-and-fhlb-dallas-celebrate-opening-of-affordable-apartments-helped-by-750k-in-funding\/","title":{"rendered":"Comerica and FHLB Dallas Celebrate Opening of Affordable Apartments Helped by $750K in Funding"},"content":{"rendered":"

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Comerica and FHLB Dallas Celebrate Opening of Affordable Apartments Helped by $750K in Funding<\/b><\/p>\n

\nHouston Mayor and Housing Advocates Celebrate Opening of New Hope Housing Savoy<\/p>\n

HOUSTON–(BUSINESS WIRE<\/a>)–
\nLocal politicians, including Houston Mayor Sylvester Turner, turned out to celebrate today\u2019s grand opening of New Hope Housing (NHH) Savoy, a multimillion-dollar, 120-unit supportive housing project. It was built with the assistance of a $750,000 Affordable Housing Program (AHP) subsidy provided by the Federal Home Loan Bank of Dallas (FHLB Dallas) through one of its members, Comerica Bank.<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20231012053754\/en\/<\/a><\/p>\n

\"New<\/p>\n

New Hope Housing Savoy, an affordable housing development in Houston, Texas, received a $750,000 subsidy from the Federal Home Loan Bank of Dallas via its member Comerica Bank and celebrated its grand opening today. (Photo: Business Wire)<\/p>\n<\/div>\n

\nNHH Savoy will provide families and individuals with low to modest incomes with affordable housing options in the Gulfton-Sharpstown neighborhood of Houston, Texas.<\/p>\n

\n\u201cThe city takes great pride in collaborating with organizations like New Hope Housing to create beautiful communities that benefit Houstonians. New Hope Housing Savoy is not just a place to live; it is a community that fosters growth, support and stability,\u201d said Houston Mayor Sylvester Turner. \u201cWe are grateful for the generous support of financial partners like FHLB Dallas whose funding via Comerica Bank made this project possible. Together, we can celebrate the creation of a truly remarkable facility that will provide housing for individuals and families in need.\u201d<\/p>\n

\nFHLB Dallas awards AHP subsidies through its member financial institutions to benefit very low-to moderate-income households across its five-state District.<\/p>\n

\n\u201cWe thank Comerica Bank and FHLB Dallas for funding affordable solutions to the housing shortage in Houston,\u201d said Joy Horak-Brown, president and CEO of New Hope Housing. \u201cHousing and setting up families with crucial support services provides the stability needed to overcome economic disparities.\u201d<\/p>\n

\nComerica\u2019s Houston Market President Jason Baker said Comerica Bank is committed to helping communities prosper by providing funding for affordable real estate development.<\/p>\n

\n\u201cThanks to the support of FHLB Dallas, we\u2019ve provided gap funding to several affordable housing projects in Houston including NHH Savoy,\u201d Mr. Baker said. \u201cWe are delighted to have partnered with FHLB Dallas to help bring this landmark project to fruition.\u201d<\/p>\n

\nAHP funds are intended to assist FHLB Dallas members in financing the purchase, construction and\/or 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.<\/p>\n

\nIn 2022, FHLB Dallas awarded nearly $17.2 million in AHP subsidies to 26 projects, primarily within its five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. FHLB Dallas will announce 2023 AHP awards later this year.<\/p>\n

\n\u201cGiven our long relationship and shared commitment to affordable housing, we are happy to provide funding through Comerica Bank via the AHP to support NHH\u2019s mission of preserving housing affordability in Southwest Houston,\u201d said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas.<\/p>\n

\nFor more information about the AHP, visit fhlb.com\/ahp<\/i><\/a>.<\/p>\n

About Comerica<\/b><\/p>\n

\nComerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank and Wealth Management. Comerica, one of the 25 largest U.S. financial holding companies, focuses on building relationships and helping people and businesses be successful. Comerica provides more than 400 banking centers across the country with locations in Arizona, California, Florida, Michigan and Texas. Founded 174 years ago in Detroit, Michigan, Comerica continues to expand into new regions, including its Southeast Market, based in North Carolina, and Mountain West Market in Colorado. Comerica has offices in 17 states and services 14 of the 15 largest U.S. metropolitan areas, as well as Canada and Mexico. Comerica reported total assets of $90.8 billion at June 30, 2023. Learn more about how Comerica is raising expectations of what a bank can be by visiting www.comerica.com<\/a>, and follow us on Facebook, Twitter, Instagram and LinkedIn.<\/p>\n

About the Federal Home Loan Bank of Dallas<\/b><\/p>\n

\nThe 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 $174 billion as of June 30, 2023, 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 our website at fhlb.com<\/i><\/strong><\/a>.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20231012053754\/en\/<\/a><\/span><\/p>\n

\nCorporate Communications
\n
Federal Home Loan Bank of Dallas
\n
fhlb.com<\/i><\/b><\/a>, (214) 441-8445<\/p>\n

KEYWORDS:<\/b> United States North America Texas<\/p>\n

INDUSTRY KEYWORDS:<\/b> Construction & Property Finance Urban Planning Banking Professional Services Building Systems Environmental, Social and Governance (ESG) Other Construction & Property Residential Building & Real Estate<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n
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New Hope Housing Savoy, an affordable housing development in Houston, Texas, received a $750,000 subsidy from the Federal Home Loan Bank of Dallas via its member Comerica Bank and celebrated its grand opening today. (Photo: Business Wire)<\/font><\/td>\n<\/tr>\n
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Houston Mayor Sylvester Turner celebrates the grand opening of New Hope Housing Savoy, an affordable housing development that received a $750,000 subsidy from the Federal Home Loan Bank of Dallas via its member Comerica Bank. (Photo: Business Wire)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Comerica and FHLB Dallas Celebrate Opening of Affordable Apartments Helped by $750K in Funding Houston Mayor and Housing Advocates Celebrate Opening of New Hope Housing Savoy HOUSTON–(BUSINESS WIRE)– Local politicians, including Houston Mayor Sylvester Turner, turned out to celebrate today\u2019s grand opening of New Hope Housing (NHH) Savoy, a multimillion-dollar, 120-unit supportive housing project. It was built with the assistance of a $750,000 Affordable Housing Program (AHP) subsidy provided by the Federal Home Loan Bank of Dallas (FHLB Dallas) through one of its members, Comerica Bank. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20231012053754\/en\/ New Hope Housing Savoy, an affordable housing development in Houston, Texas, received a $750,000 subsidy from the Federal Home Loan Bank of Dallas … <\/p>\n

Continue reading “Comerica and FHLB Dallas Celebrate Opening of Affordable Apartments Helped by $750K in Funding”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-790227","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nComerica and FHLB Dallas Celebrate Opening of Affordable Apartments Helped by $750K in Funding - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/comerica-and-fhlb-dallas-celebrate-opening-of-affordable-apartments-helped-by-750k-in-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Comerica and FHLB Dallas Celebrate Opening of Affordable Apartments Helped by $750K in Funding - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Comerica and FHLB Dallas Celebrate Opening of Affordable Apartments Helped by $750K in Funding Houston Mayor and Housing Advocates Celebrate Opening of New Hope Housing Savoy HOUSTON–(BUSINESS WIRE)– Local politicians, including Houston Mayor Sylvester Turner, turned out to celebrate today\u2019s grand opening of New Hope Housing (NHH) Savoy, a multimillion-dollar, 120-unit supportive housing project. 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It was built with the assistance of a $750,000 Affordable Housing Program (AHP) subsidy provided by the Federal Home Loan Bank of Dallas (FHLB Dallas) through one of its members, Comerica Bank. This press release features multimedia. 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