Federal Home Loan Bank of Dallas and Southwest Capital Bank Award $220K to Special Needs Affordable Housing Development
SOCORRO, New Mexico--(BUSINESS WIRE)--Representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Southwest Capital Bank (Southwest Capital) attended a ribbon cutting ceremony yesterday for Vista de Socorro Apartments. Completion was made possible in part by a $220,000 Affordable Housing Program (AHP) grant through FHLB Dallas member Southwest Capital.
Investing in affordable housing is a meaningful way to strengthen communities, create stability for residents and build a bright future for New Mexico families.
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Vista de Socorro Apartments is a 32-unit complex in Socorro, New Mexico, with one- and two-bedroom housing for low-income individuals and families. It has seven units reserved for people with disabilities.
'This project meets the pressing need for both affordable housing for at-risk populations and special needs residents,' said Anthony Ortiz, controller and senior vice president at Southwest Capital. 'We are so pleased to be a part of this project.'
AHP funds assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for individuals. The funds must be used to benefit households with incomes at or below 80 percent of the median income for the area.
'Investing in affordable housing isn't just good business—it's a meaningful way to strengthen communities, create stability for residents and build a future for New Mexico families,' said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas.
In 2024, FHLB Dallas awarded nearly $100 million in AHP grants for 4,833 units that support housing affordability in its District, which includes Arkansas.
This year, $149.5 million has been allocated for the AHP, homeownership grants and voluntary programs, such as home repair assistance for military veterans and small business loans. Learn more about the FHLB Dallas Affordable Housing Program.
About Southwest Capital Bank
Southwest Capital Bank is a family-owned community bank in New Mexico, specializing in commercial lending and known for its focus on building relationships and supporting local businesses and communities. Their focus is on community banking, particularly commercial lending, with a strong emphasis on building relationships. Southwest Capital Bank was founded in 1890 and are headquartered in Albuquerque, New Mexico.
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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