Latest news with #AffordableHousingProgram
Business Wire
3 days ago
- Business
- Business Wire
Western Alliance Bank Teams with FHLBank San Francisco to Award $1.25 Million Affordable Housing Grant to Blind Center of Nevada
PHOENIX--(BUSINESS WIRE)-- Western Alliance Bank has teamed with Federal Home Loan Bank of San Francisco (FHLBank San Francisco) to deliver a $1.25 million Affordable Housing Program (AHP) Nevada Targeted Fund grant to the Blind Center of Nevada to create 100 units of supportive housing in downtown Las Vegas. Western Alliance Bank Teams with FHLBank San Francisco to Award $1.25 Million Affordable Housing Grant to Blind Center of Nevada Western Alliance Bank successfully supported the Blind Center of Nevada's Visions Park project in securing the maximum grant funding available from FHLBank San Francisco's 2025 AHP Nevada Target Fund. This project was one of only five selected statewide for this year's targeted funding. Visions Park is a 100-unit permanent supportive housing project directly adjacent to the Blind Center's facility near the intersection of Washington Avenue and Bruce Street. The project will serve those who are blind and visually impaired with income at or below 40% of Area Median Income (AMI). 'It is extremely gratifying to see this meaningful project come to life to address the critical need for affordable housing in Nevada, particularly for individuals living with disabilities,' said Aidan Tracey, assistant vice president of portfolio management for Western Alliance Bank's Affordable Housing Finance Group. 'We could not be happier to play a role in bringing this project to fruition to provide safe, quality housing for Nevadans who are blind or have visual impairment.' Visions Park broke ground last September and is scheduled to open in early 2026. 'Visions Park is the first of its kind in the United States — a supportive housing development located directly adjacent to the Blind Center of Nevada,' said Todd Imholte, president and CEO of the Blind Center of Nevada. 'Not only does it provide essential housing, it empowers our clients and residents to easily access the services to help them reach their highest potential.' FHLBank San Francisco's member financial institutions work in partnership with community-based housing developers to compete for AHP General Fund or Nevada Targeted Fund grants by submitting applications for specific projects in an annual funding competition. According to The Gap 2024, a yearly report compiled by the National Low Income Housing Coalition, Nevada is experiencing a significant affordable housing shortfall, with just 14 affordable homes per 100 households. To address the dire need in Nevada, FHLBank San Francisco launched the Nevada Targeted Fund in 2023. AHP grants contribute to the development, preservation or purchase of multifamily and single-family housing that serves people in need, including lower-income families, the chronically unhoused, families, seniors, veterans, at-risk youth, people living with disabilities and mental health challenges or overcoming substance abuse, and many others. 'We continue to make meaningful investments to address the affordable housing crisis across Arizona, California and Nevada,' said Joseph E. Amato, interim president and CEO of FHLBank San Francisco. 'This funding for the Blind Center of Nevada, delivered in partnership with our member Western Alliance Bank, is an example of our work to expand the supply of housing that delivers critical support services to individuals and families who need it most.' About Western Alliance Bank With more than $85 billion in assets, Western Alliance Bancorporation is one of the country's top-performing banking companies. Its primary subsidiary, Western Alliance Bank, Member FDIC, offers a full spectrum of tailored commercial banking solutions and consumer products, all delivered with outstanding service by banking and mortgage experts who put customers first. Major accolades include being ranked as a top U.S. bank in 2024 by American Banker and Bank Director and receiving #1 rankings on Extel's (formerly Institutional Investor's) All-America Executive Team Midcap Banks 2024 for Best CEO, Best CFO and Best Company Board of Directors. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit Western Alliance Bank. About the Federal Home Loan Bank of San Francisco The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient. About the Blind Center of Nevada Founded in 1955, the Blind Center of Nevada is a 501(c)(3) nonprofit organization dedicated to helping individuals who are blind or visually impaired reach their highest potential. Located in Las Vegas, the Center provides a full range of services including independent living training, culinary training, job skills development, assistive technology education, and social enrichment programs. Through innovative programs like its electronics recycling and its events enterprises, the Blind Center creates employment opportunities for members while generating sustainable revenue to fund its mission. The organization serves hundreds of Nevadans each year and is a national model for nonprofit innovation and inclusion. To learn more, visit
Business Wire
5 days ago
- Business
- Business Wire
$90K Grant from FHLB Dallas and Arvest Bank to Fund Affordable Duplexes
FORT SMITH, Ark.--(BUSINESS WIRE)--Federal Home Loan Bank of Dallas (FHLB Dallas) provided a $90,000 Affordable Housing Program (AHP) grant through Arvest Bank to Community Rescue Mission to assist with the construction of six affordable duplexes, which were celebrated with a groundbreaking ceremony today. 'The AHP grant went a long way for us toward being able to complete the project and enter into it debt free' --Community Rescue Mission Director Jordan Bone Share Community Rescue Mission is a nonprofit, faith-based organization that provides shelter, meals and transitional living quarters to help people without housing in Fort Smith, Arkansas. The Miller Cottages will consist of three duplexes (six units) for families on land adjacent to Community Rescue Mission's current transitional housing development, which provides 66 rooms and a central dining hall. 'The AHP grant went a long way for us toward being able to complete the project and enter into it debt free,' said Community Rescue Mission Director Jordan Bone. 'We think it will also be a good jumping off point to provide more affordable housing in the future.' Construction is scheduled to begin in August and will take about nine months to complete, he said. Families will pay rent based on their income and are expected to stay in the duplexes for about a year before transitioning into permanent housing. 'We think these duplexes will go a long way in helping families who experience homelessness to become self-sufficient,' Arvest Group CRA Director Virgil Miller said. 'The support that Miller Cottages received from FHLB Dallas was important in reaching this milestone.' AHP funds are awarded through FHLB Dallas member institutions such as Arvest Bank 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. 'Arvest Bank has been a long-time supporter of our AHP grant and this is a great example of how the AHP is being used to increase access to affordable housing in Arkansas,' said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. In 2024, FHLB Dallas awarded $1 million in AHP General Fund grants to Arkansas-based affordable housing projects, which was part of $78.9 million awarded in its five-state District. FHLB Dallas will announce 2025 grant awardees this fall. Learn more about the FHLB Dallas Affordable Housing Program. About Arvest Bank With more than $26 billion in assets, Arvest Bank is a community-based financial institution serving more than 110 communities in Arkansas, Kansas, Missouri and Oklahoma. Established in 1961, Arvest Bank is committed to meeting the needs of its more than 830,000 retail and business customer households by continually investing in the digital tools and services customers expect. Its extensive network of more than 200 banking locations provides loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing as a part of its growing list of digital services. Arvest is known for its commitment to the communities it serves and to attracting, hiring and retaining a diverse group of talented people. Arvest is an Equal Housing Lender and Member FDIC. To learn more please visit 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 $116.1 billion as of June 30, 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
Yahoo
25-07-2025
- Business
- Yahoo
FHLBank Chicago Celebrates Grand Opening of the Harry and Jeanette Weinberg Residences at Woodale Crossing
BROWN DEER, Wis., July 25, 2025--(BUSINESS WIRE)--Representatives from the Federal Home Loan Bank of Chicago (FHLBank Chicago), CIBC Bank USA, Jewish Family Services (JFS), and local dignitaries joined together on July 24 at the grand opening of the Harry and Jeanette Weinberg Residences at Woodale Crossing, a new affordable and supportive senior housing development in Brown Deer, Wis. FHLBank Chicago awarded a $1 million Affordable Housing Program (AHP) General Fund grant through member CIBC Bank USA to assist with construction. Woodale Crossing features 56 high-quality, affordable apartments for adults aged 55 and older, with 25% of the units designated for residents with disabilities who have experienced homelessness. The development includes on-site supportive services provided by JFS, helping residents maintain stability, wellness, and independence. "CIBC is proud to support a development that expands access to affordable housing that addresses the unique needs of older adults and residents with disabilities," said Adam Rogers, Managing Director at CIBC Bank USA. "Woodale Crossing proactively creates more affordable housing in our community." AHP grants subsidize the acquisition, new construction, or rehabilitation of rental or owner-occupied housing. Delivered in partnership with FHLBank Chicago financial institution members, these forgivable grants help address ongoing housing supply challenges by expanding access to quality affordable housing in many communities. "Woodale Crossing reflects what's possible when housing is designed with long-term wellbeing in mind," said Katie Naftzger, SVP and Community Investment Officer at FHLBank Chicago. "We are proud to partner with CIBC and JFS to support a development that meets both housing and service needs in a meaningful way." In 2024, FHLBank Chicago awarded $48 million in AHP General Fund grants to 35 affordable housing projects, helping create over 1,300 new or rehabilitated housing units. FHLBank Chicago will announce 2025 grant awardees this fall. "Affordable housing remains inaccessible to many of my constituents and Americans nationwide. I am thankful to the leaders and partners who made these important investments and helped respond to a critical need in our community. These new residences will give more seniors and people with disabilities in Brown Deer the stability and security of a high-quality, affordable home," said Rep. Gwen Moore (WI‑4). JFS led the development with support from financial partners, community stakeholders, and FHLBank Chicago's AHP General Fund. Other partners included the Wisconsin Housing and Economic Development Authority (WHEDA), National Equity Fund, the Harry and Jeanette Weinberg Foundation, Otto Bremer Trust, Bader Philanthropies, and Milwaukee County. "Woodale Crossing was designed to support residents in living independently while having access to services that help them thrive," said Daniel Fleischman, Vice President of Housing and Residential Services at JFS. "This community reflects our belief that stability, respect, and access to care should be part of every housing solution." For additional information about FHLBank Chicago's AHP General Fund, please visit About the Federal Home Loan Bank of Chicago FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members' customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit About Jewish Family Services (JFS) For 158 years, Jewish Family Services (JFS) has provided critical support services to thousands of individuals, families and children in the greater Milwaukee area. JFS offers quality community-based programs that improve the health, personal well-being and levels of independence of persons with intellectual and developmental disabilities, physical disabilities, age related disabilities, mental health issues and families with low household incomes. JFS' services are not exclusive to the Jewish community; individuals representing all religions, races, and ethnicities, are eligible to participate in JFS programs. Their geographic service areas include Milwaukee, Ozaukee, Waukesha, and Washington counties with the vast majority of individuals residing in the city of Milwaukee. View source version on Contacts Casey Reidy, 312.565.5291, creidy@ Sign in to access your portfolio
Business Wire
25-07-2025
- Business
- Business Wire
FHLBank Chicago Celebrates Grand Opening of the Harry and Jeanette Weinberg Residences at Woodale Crossing
BROWN DEER, Wis.--(BUSINESS WIRE)--Representatives from the Federal Home Loan Bank of Chicago (FHLBank Chicago), CIBC Bank USA, Jewish Family Services (JFS), and local dignitaries joined together on July 24 at the grand opening of the Harry and Jeanette Weinberg Residences at Woodale Crossing, a new affordable and supportive senior housing development in Brown Deer, Wis. FHLBank Chicago awarded a $1 million Affordable Housing Program (AHP) General Fund grant through member CIBC Bank USA to assist with construction. Woodale Crossing features 56 high-quality, affordable apartments for adults aged 55 and older, with 25% of the units designated for residents with disabilities who have experienced homelessness. The development includes on-site supportive services provided by JFS, helping residents maintain stability, wellness, and independence. 'CIBC is proud to support a development that expands access to affordable housing that addresses the unique needs of older adults and residents with disabilities,' said Adam Rogers, Managing Director at CIBC Bank USA. 'Woodale Crossing proactively creates more affordable housing in our community.' AHP grants subsidize the acquisition, new construction, or rehabilitation of rental or owner-occupied housing. Delivered in partnership with FHLBank Chicago financial institution members, these forgivable grants help address ongoing housing supply challenges by expanding access to quality affordable housing in many communities. 'Woodale Crossing reflects what's possible when housing is designed with long-term wellbeing in mind,' said Katie Naftzger, SVP and Community Investment Officer at FHLBank Chicago. 'We are proud to partner with CIBC and JFS to support a development that meets both housing and service needs in a meaningful way.' In 2024, FHLBank Chicago awarded $48 million in AHP General Fund grants to 35 affordable housing projects, helping create over 1,300 new or rehabilitated housing units. FHLBank Chicago will announce 2025 grant awardees this fall. 'Affordable housing remains inaccessible to many of my constituents and Americans nationwide. I am thankful to the leaders and partners who made these important investments and helped respond to a critical need in our community. These new residences will give more seniors and people with disabilities in Brown Deer the stability and security of a high-quality, affordable home,' said Rep. Gwen Moore (WI‑4). JFS led the development with support from financial partners, community stakeholders, and FHLBank Chicago's AHP General Fund. Other partners included the Wisconsin Housing and Economic Development Authority (WHEDA), National Equity Fund, the Harry and Jeanette Weinberg Foundation, Otto Bremer Trust, Bader Philanthropies, and Milwaukee County. 'Woodale Crossing was designed to support residents in living independently while having access to services that help them thrive,' said Daniel Fleischman, Vice President of Housing and Residential Services at JFS. 'This community reflects our belief that stability, respect, and access to care should be part of every housing solution.' For additional information about FHLBank Chicago's AHP General Fund, please visit About the Federal Home Loan Bank of Chicago FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members' customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit About Jewish Family Services (JFS) For 158 years, Jewish Family Services (JFS) has provided critical support services to thousands of individuals, families and children in the greater Milwaukee area. JFS offers quality community-based programs that improve the health, personal well-being and levels of independence of persons with intellectual and developmental disabilities, physical disabilities, age related disabilities, mental health issues and families with low household incomes. JFS' services are not exclusive to the Jewish community; individuals representing all religions, races, and ethnicities, are eligible to participate in JFS programs. Their geographic service areas include Milwaukee, Ozaukee, Waukesha, and Washington counties with the vast majority of individuals residing in the city of Milwaukee.
Yahoo
11-07-2025
- Business
- Yahoo
FHLBank San Francisco Awards $5.1 Million in Grants for Affordable Housing in Nevada
Grants from the Nevada Targeted Fund will add over 270 units of affordable housing in the Silver State SAN FRANCISCO, July 10, 2025 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced $5.1 million in affordable housing grants awarded to Nevada-based affordable housing developers through its Affordable Housing Program (AHP) Nevada Targeted Fund. The grants are being awarded to five projects in Nevada that will collectively create over 270 units of new affordable housing throughout the state. 'The shortage of affordable housing is one of the most pressing challenges our country faces, and the need is especially acute in Nevada,' said Joseph E. Amato, interim president and CEO of FHLBank San Francisco. 'As one of the nation's least densely populated states, Nevada is home to a wide range of communities — urban, rural, and tribal — all experiencing significant housing challenges. We're proud to support five impactful projects across the state that will help address this crisis and expand access to affordable housing.' This year marks the third year of the Nevada Targeted Fund, which was developed in collaboration with U.S. Senator Catherine Cortez Masto of Nevada to innovate meaningful solutions to encourage and fund needed affordable housing projects. To address the dire need in Nevada, FHLBank San Francisco launched the Nevada Targeted Fund, the first state-targeted fund in the FHLBank System, to specifically fund affordable housing projects in Nevada. According to the National Low Income Housing Coalition, the supply of affordable and available rental homes in Nevada is 17 for every 100 extremely low-income renter households. Nevada is the state with the most extremely low-income households in the nation, earning between 0% to 30% of area median income who are severely cost burdened, meaning the household spends more than 50% of its income on housing costs, including utilities. 'I appreciate that the Federal Home Loan Bank of San Francisco continues to support the Nevada Targeted Fund,' said Senator Cortez Masto. 'I'm proud of the partnership that we have built with the Bank to address housing needs in the Silver State, and I will continue to seek opportunities for the FHLBank to use its resources to meet more of our housing and community development needs.' AHP General Fund and Nevada Targeted Fund grants help finance the development, preservation, or purchase of affordable multifamily and single-family housing for people in need, including the chronically unhoused, families, seniors, veterans, at-risk youth, people living with disabilities and mental health challenges or overcoming substance abuse. Grants are delivered through FHLBank San Francisco member institutions partnering with nonprofits and affordable housing developers to submit applications for grants for specific projects in an annual funding competition. The 2025 AHP Nevada Targeted Fund grants will fund the following five new construction projects across Nevada: Reno: Truckee Meadows Housing Solutions' Gen Den Intergenerational Housing will create an intergenerational community with 10 new units, in collaboration with FHLBank San Francisco member Clearinghouse CDFI. North Las Vegas: Foresight Housing Partners' PuraVida Senior Living will construct 74 new affordable apartment units that prioritize accessibility and ADA compliance for very-low-income seniors, in collaboration with FHLBank San Francisco member Town and Country Bank. Las Vegas: Nevada H.A.N.D., Inc.'s Southern Pines Apartments will create 48 new units of housing for families and individuals with on-site social services and recreational programs, in collaboration with FHLBank San Francisco member Wells Fargo National Bank West. Las Vegas: Walter Hoving Home, Inc.'s Las Vegas Expansion project will create a new residential recovery facility for women and families, in collaboration with FHLBank San Francisco member City National Bank. Las Vegas: Blind Center of Nevada's Visions Park will provide new critical housing for the blind and visually impaired, in collaboration with FHLBank San Francisco member Western Alliance Bank. 'At Western Alliance Bank, we are honored to play a role in increasing affordable housing options for people in communities across our national footprint,' said Aidan Tracey, assistant vice president of portfolio management for Western Alliance Bank's Affordable Housing Investments Group. 'Visions Park is an exciting opportunity to create and sustain innovative supportive housing for people who are visually impaired. We are pleased that we could work with the Federal Home Loan Bank of San Francisco and support the Blind Center of Nevada in bringing this project to life to make Las Vegas a better place to live for those with vision loss.' In 2025, FHLBank San Francisco awarded nearly $50 million in AHP grants, including funding from its 2025 AHP General Fund for projects in California and Arizona, and from its 2025 Nevada Targeted Fund for projects in Nevada. Since 1990, FHLBank San Francisco has awarded over $1.4 billion in grants for the construction, preservation, or purchase of nearly 155,000 affordable housing units. Collectively, the FHLBanks are one of the largest sources of private sector grants for affordable housing in the country, providing approximately $8.3 billion in grant funding for affordable housing and helping more than one million households purchase or preserve a home since 1990. Providing resources for affordable housing is central to FHLBank San Francisco's mission, with at least 10% of the Bank's net income from the prior year committed to fund affordable housing and related community investment programs. Where AHP projects are developed, local economies also get a boost, as these projects create jobs, increase construction and consumer spending, and generate new tax revenues. Learn more about the communities, families, and individuals that have benefited from access to AHP-funded housing on the Bank's website. The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions —propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient. Contact: Tom in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
