FHLB Dallas and Comerica Celebrate Groundbreaking of New Senior Housing Project Supported by $2M Affordable Housing Program Grant
The Culbreath has a total of 364 units, with 90 percent of the units reserved for those at 60 percent of the median family income or below.
'This development is a strategic investment in long-term housing stability for seniors,' said Deborah Welchel, vice president of Real Estate Development in Texas at Volunteers of America National Services. 'Today's groundbreaking was made possible by strong partnerships and a shared commitment with DHA Housing Solutions for North Texas to preserving affordability in high-need communities.'
The Culbreath will feature a swimming pool, a fully furnished clubhouse, fitness center, business center and staff offices, including an onsite Resident Coordinator, who will design programs and services to meet the needs of the community.
'The success of projects like The Culbreath goes beyond the construction of the development—it is about creating stable, safe and affordable communities where seniors can thrive,' said Comerica Bank's Senior Vice President and Director of Community Development Banking Beatrice Kelly. 'This vision became a reality through the strength of collaboration, resulting in another significant investment into the revitalization of the southern sector of Dallas.'
AHP funds are awarded through FHLB Dallas member institutions like Comerica and 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.
'It is our commitment to advance community revitalization through the construction of high-quality housing, and this groundbreaking is a powerful example of our commitment in action,' said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. 'Supporting this project is about more than funding—it's about investing in the long-term resilience of our communities.'
In 2024, FHLB Dallas awarded $44.7 million in AHP General Fund grants to Texas-based affordable housing projects. The grants will help create 2,409 new or rehabilitated housing units. FHLB Dallas will announce 2025 grant awardees this fall. Learn more about the FHLB Dallas Affordable Housing Program.
About Comerica
Comerica 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 commercial U.S. financial holding companies, focuses on building relationships and helping people and businesses be successful. Comerica provides banking centers across the country with locations in Arizona, California, Florida, Michigan and Texas. Founded on Aug. 17, 1849, 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 15 states and services 13 of the 15 largest U.S. metropolitan areas, as well as Canada and Mexico. Comerica reported total assets of $77.6 billion at March 31, 2025. Learn more about how Comerica is raising expectations of what a bank can be by visiting www.comerica.com, and follow us on Facebook, X, Instagram and LinkedIn.
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
a minute ago
- Business Insider
Africa's second-largest oil exporter sees output fall below 1 million barrels since OPEC exit
Angola's crude production slipped below 1 million barrels a day in July, marking the lowest level since March 2023. Angola's crude oil production dropped below 1 million barrels per day in July, the lowest since March 2023. The decline in output, documented at 998,757 barrels daily, missed governmental projections of 1.07 million barrels. Lower production may challenge revenue targets due to oil prices trading below Angola's budget benchmark. The nation targets reduced reliance on resource-backed loans, with notable decreases in oil-backed debt to China observed. Output fell to 998,757 barrels per day, according to data from the National Agency for Petroleum and Gas (ANPG), missing the government's projection of 1.07 million barrels. The decline threatens to undermine revenue targets as oil prices trade below the $70-per-barrel benchmark set in the 2025 budget. The southwest African nation, which quit OPEC in 2023 after clashing with the group over quotas, has been working to sustain output above the million-barrel threshold, according to Bloomberg. Officials are now weighing financial support from the International Monetary Fund, though no formal request has been made, the Washington-based lender said. Angola has sought new investment to stem the decline. Equinor ASA and Chevron Corp. have recently expanded activities, while TotalEnergies SE approved a $6 billion project last year. Still, Oil Minister Diamantino Pedro Azevedo has warned that mitigating falling production remains the government's 'biggest challenge.' Debt reduction, export outlook At the same time, Angola is moving to reduce reliance on resource-backed loans, as it confronts a difficult global backdrop of volatile commodity prices, high interest rates, and fragile investor sentiment. Oil-backed debt to China, which stood at $10.15 billion at the end of 2024, decreased to $8.94 billion by July, according to official data. Authorities project the total will drop further to between $7.5 billion and $8 billion by year-end.
New York Times
a minute ago
- New York Times
Jerry Jones: Parsons offer would make him highest-paid non-QB in guaranteed money
Dallas Cowboys coach Brian Schottenheimer said Wednesday that he's confident Micah Parsons will be on the field Week 1 against the Philadelphia Eagles. Judging by Jerry Jones' comments Thursday, there's a good chance that's without a new contract. While joining former Cowboys star wide receiver Michael Irvin on his YouTube channel, the Cowboys owner and general manager sounded completely committed to not renegotiating what he believes was already negotiated back in March with Parsons. Jones said the offer would have made the All-Pro pass rusher the NFL's highest-paid non-quarterback in guaranteed money. Advertisement 'The world would know that I want Micah if they knew what I had offered him,' Jones told Irvin. 'And he knows what I offered him.' Jones and Parsons met back in March and negotiated without Parsons' agent, David Mulugheta, being present. Jones said Thursday that when they sent the contract details over, 'the agent told us to stick it up our ass.' Parsons, who requested a trade Aug. 1, is entering the fifth and final year of his rookie deal. His 2025 salary is just over $24 million. The NFL's highest-paid non-quarterback in terms of average annual value is Pittsburgh Steelers pass rusher T.J. Watt at $41 million per year. Last month, he signed a three-year, $123 million contract extension with $108 million guaranteed, the most guaranteed money by a non-quarterback. When Parsons posted his trade request on X, his statement said, 'I no longer want to be held to close door negotiations without my agent present.' Parsons included details about the March meeting, writing that it was about leadership. 'Somehow the conversation turned into him talking contract with me,' Parsons added. 'Yes I engaged in a back and forth in regards to what I wanted from my contract, but at no point did I believe this was supposed to be a formal negotiation and I informed Mr. Jones afterward my agent would reach out thinking this would get things done.' Jones continued to explain Thursday that Parsons is under contract for this season and the Cowboys have the ability to franchise tag him the next two seasons. The franchise tag number for a defensive end this season is $22 million. According to the projected franchise tag number for a defensive end next season will be a little over $26.5 million. 'We really got three years to work this thing out,' Jones said, before explaining how he did the same thing with franchise quarterback Dak Prescott, who is the NFL's highest-paid player at $60 million per season. 'We couldn't agree so Dak played the last year of his contract and then we franchised him. It's exactly what happened with Dak, so we moved forward and ultimately we got a contact, made Dak the highest-paid player in the NFL. So the precedent is handling it like Dak. Advertisement 'But in this particular case, then Micah comes in and plays this year under his contract. If he doesn't, then it's very costly, very costly for everybody.' Parsons has been attending training camp practices, taking part in the walk-through portions and meetings. But he has not been practicing. It remains to be seen if that will change next week as the Cowboys begin preparation for their season opener at Philadelphia on Sept. 4. Micah Parsons is here — Jon Machota (@jonmachota) August 20, 2025 It's unrealistic to expect a deal to get done without Jones and Mulugheta talking. That hasn't happened to this point. And judging by Jones' comments' Thursday, it doesn't sound like he will be the one making the first call. 'Micah and I talked (in March) and then we were going to send it over to the agent,' Jones said. 'We had our agreements on terms, amount, guarantees, everything. We were going to send it over to the agent, and the agent said don't bother because we have all that to negotiate. Well, I had already negotiated. I already moved off my mark in several areas. So the issue, very frankly, is we've had the negotiation in my mind. And the agent is trying to get his nose in it right now and try to come in there and improve off the mark that we had already set. 'We've got this deal resolved in my mind, for the Dallas Cowboys. We've got it done. And if the agent wants to finish up the details, which he should, and do all the paperwork, he can do that. And we're ready to go. But as far as the amount of money, the years, the guarantees, all of that, we've negotiated that.' Jerry Jones when asked on @FoxNews about how close the Cowboys are to getting a deal done with Micah Parsons — Jon Machota (@jonmachota) August 21, 2025 Spot the pattern. Connect the terms Find the hidden link between sports terms Play today's puzzle
Business Wire
32 minutes ago
- Business Wire
Redwood Trust Launches Reopening of $50 Million of 7.75% Convertible Senior Notes Due 2027
MILL VALLEY, Calif.--(BUSINESS WIRE)--Redwood Trust, Inc. (NYSE: RWT; 'Redwood' or the 'Company') today announced that it plans to offer, subject to market and other conditions, $50 million aggregate principal amount of its 7.75% convertible senior notes due 2027 (the 'Notes') in a direct placement registered under the Securities Act of 1933, as amended. The Notes will be issued as a reopening of, and will be part of the same series as, the 7.75% convertible senior notes due 2027 that the Company originally issued in June 2022 (the 'Initial Notes') and the 7.75% convertible senior notes due 2027 that the Company issued in October 2024 (the 'Initial Additional Notes' and, together with the Initial Notes, the 'Existing Notes'). Currently, $247,170,000 aggregate principal amount of Existing Notes are outstanding. Redwood intends to use the net proceeds from this offering for general corporate purposes, which may include (i) funding of Redwood's operating business and investment activity, which may include funding its residential and business purpose lending mortgage banking businesses, acquiring mortgage-backed securities for its investment portfolio, and funding strategic acquisitions and investments and/or (ii) the repayment of existing indebtedness, which may include the repurchase or repayment of a portion of the 5.75% exchangeable senior notes due 2025 issued by one of Redwood's subsidiaries. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities referred to in this press release, nor will there be any sale of any such securities, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. About Redwood Trust Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on several distinct areas of housing credit where we provide liquidity to growing segments of the U.S. housing market not well served by government programs. We deliver customized housing credit investments to a diverse mix of investors, through our best-in-class securitization platforms, whole-loan distribution activities, joint ventures and our publicly traded shares. We operate through three core residential housing-focused operating platforms — Sequoia, Aspire, and CoreVest — alongside our complementary Redwood Investments portfolio which is primarily composed of assets we source through these platforms. In addition, through RWT Horizons®, our venture investing initiative, we invest in early-stage companies that have a direct nexus to our operating platforms. Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, capital appreciation, and a commitment to technological innovation that facilitates risk-minded scale. Redwood Trust is internally managed and structured as a real estate investment trust ('REIT') for tax purposes. CAUTIONARY STATEMENT: This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, such as statements related to the placement of Notes and the expected use of the net proceeds. Forward-looking statements involve numerous risks and uncertainties. Redwood's actual results may differ materially from those projected, and Redwood cautions investors not to place undue reliance on the forward-looking statements contained in this release. Forward-looking statements are not historical in nature and can be identified by words such as 'anticipate,' 'estimate,' 'will,' 'should,' 'expect,' 'believe,' 'intend,' 'seek,' 'plan,' and similar expressions or their negative forms, or by references to strategy, plans, or intentions. These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in Redwood's filings with the Securities and Exchange Commission. Redwood undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
