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Texas Capital and FHLB Dallas Celebrate the Opening of Senior Living Apartment Homes Helped by $750K in Funding
Fort Worth, Texas, Apartments and Amenities Geared Toward Residents 62 and Older FORT WORTH, Texas--(BUSINESS WIRE)-- Local real estate developers, community
About this update from Texas Capital Bancshares, Inc.
[{"type":"text","content":"\nFort Worth, Texas, Apartments and Amenities Geared Toward Residents 62 and Older\n\n\n FORT WORTH, Texas--(BUSINESS WIRE)--\nLocal real estate developers, community partners and residents celebrated the grand opening of Cowan Place Senior Living (Cowan Place). 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, Texas Capital Bank (Texas Capital) in the Stop Six neighborhood of Fort Worth, Texas.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231117702197/en/Alex Fitzgerald and Melanie Dill of FHLB Dallas, Worley Barker and Michelle George of Texas Capital Bank and Mary-Margaret Lemons of Fort Worth Housing Solutions celebrate the opening of Cowan Place Senior Living in Fort Worth, Texas. (Photo: Business Wire)\nThe development is part of a transformation plan designed to improve the Stop Six neighborhood in Fort Worth with affordable housing and neighborhood amenities. The plan includes replacement of the former Cavile Place public housing community with new, mixed-income rental residences in six phases of development. It includes a neighborhood hub for recreation, educational, health and safety services, commercial districts and space for healthcare and educational, economic and other support services.\n\n\nIn addition to affordable housing for seniors, Cowan Place amenities include rooms for a library and theater, fitness studio, salon, billiards, crafts and other spaces for private meetings with health care professionals.\n\n\n“The AHP funds were vital in closing funding gaps to make sure that we could finish construction on this project,” said Mary-Margaret Lemons, Fort Worth Housing Solutions president. “We could not have finished this project without the money provided by the Federal Home Loan Bank of Dallas and Texas Capital as a partner. It was critical for us to get over the finish line and finish this during COVID, and so it was really a game changer for us to be able to have full funding of this project to get started.”\n\n\nFHLB Dallas awards AHP subsidies through its member financial institutions to benefit very low- to moderate-income households across its five-state District.\n\n\n“These are the type of projects that we get...