$750K Affordable Housing Program Grant from FHLB Dallas and Texas Capital Helps Fund New Shelter for Homeless Houston Youth
The Federal Home Loan Bank of Dallas (FHLB Dallas) and Texas Capital joined Covenant House Texas (Covenant House), community partners and local leaders on Friday to celebrate the opening of Covenant House, a safe haven for youth aged 18-24. FHLB Dallas provided a $750,000 grant through its flagship Affordable Housing Program (AHP). The AHP grant, which FHLB Dallas awarded through Texas Capital, supported the expansion of residential housing in Houston, Texas, for 52 unaccompanied young men and women.
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Representatives from FHLB Dallas, Texas Capital and Covenant House Texas celebrate the opening of a new Covenant House in Houston, Texas.
The funds are critical to completing this project and reducing homelessness in Houston. Residential capacity will be doubled for young adults and households with children under 5 years old.
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.
In 2024, FHLB Dallas awarded nearly $100 million in AHP and AHP homeownership grants for 4,833 units that support housing affordability in its District, which includes Texas.
“Projects like this can be transformative to communities in many ways,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “We applaud Texas Capital for leveraging FHLB Dallas AHP grants to invest in its communities.”
Learn more about the FHLB Dallas Affordable Housing Program.
About Texas Capital
Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank (“TCB”). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities. All services are subject to applicable laws, regulations, and service terms. Deposit and lending products and services are offered by TCB. For deposit products, member FDIC. For more information, please visit www.texascapital.com.
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 $109.9 billion as of March 31, 2025, 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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