FHLB Dallas & Frost Bank Awarded $500K to Benefit Dallas Homeless

DALLAS, TEXAS, March 2, 2018 — About 10 percent of Dallas’ homeless residents will have a roof over their heads when a new supportive housing complex opens later this year, with the help of a $500,000 Affordable Housing Program (AHP) grant.

St. Jude, Inc. received the AHP grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Frost Bank, an FHLB Dallas member institution, for the renovation of a building that formerly served as a retirement apartment complex at the southeast corner of Josey and Forest lanes.

St. Jude, a member of the Catholic Housing Initiative, bought the property and is working with Catholic Charities of Dallas, which will operate the facility and provide a wide variety of social services to its residents. A collaborative network of several social service agencies will help identify the men and women who will become its initial residents.

“The AHP grant bridged the gap between hoping to get this project done and actually being able to get this project done,” said Joe Dingman, treasurer of St. Jude, Inc.

The $5.5 million, 104-unit project, scheduled to open in June 2018, obtained additional funding from a variety of sources, including the city of Dallas and Dallas County.

The need for housing is critical, Mr. Dingman said. “We know there are about 1,000 people in the Dallas area who have been identified as homeless and need housing,” he said. “They are today living under a bridge or someplace that is societally unacceptable. We’ll be able to knock 10 percent off that number within the year.”

Mr. Dingman said renovations are expected to begin this month and will include upgraded in-unit kitchens, refreshed finishes, a modernized common area, improvements to the building’s mechanical, electrical and plumbing systems and improved landscaping and parking.

See the complete news release here.

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