FHLB Dallas and Comerica Celebrate Groundbreaking of New Senior Housing Project Supported by …

🗝️ Key Points

• The Federal Home Loan Bank of Dallas (FHLB Dallas) and Comerica Bank have initiated a new senior housing project in Dallas.
• A $2 million Affordable Housing Program (AHP) grant supports the construction of The Culbreath, a 364-unit mixed-income community.
• The project focuses on serving seniors aged 62 and above, with 90% of units reserved for low-income residents.The Federal Home Loan Bank of Dallas (FHLB Dallas), in partnership with Comerica Bank (CMA, Financial), has commenced construction on a new senior housing development in Dallas, Texas.

• The Federal Home Loan Bank of Dallas (FHLB Dallas) and Comerica Bank have initiated a new senior housing project in Dallas.
• A $2 million Affordable Housing Program (AHP) grant supports the construction of The Culbreath, a 364-unit mixed-income community.
• The project focuses on serving seniors aged 62 and above, with 90% of units reserved for low-income residents.

The Federal Home Loan Bank of Dallas (FHLB Dallas), in partnership with Comerica Bank (CMA, Financial), has commenced construction on a new senior housing development in Dallas, Texas. The project, known as The Culbreath, is supported by a $2 million Affordable Housing Program (AHP) grant provided by FHLB Dallas. This development will contribute significantly to the revitalization of the Bonton neighborhood.

The Culbreath is designed to be a 364-unit, mixed-income community, with 90% of its units allocated for seniors earning 60% or less of the median family income. The project aims to create a safe, stable, and affordable environment for elderly residents, featuring amenities such as a swimming pool, fitness center, and business center. Additionally, an onsite Resident Coordinator will be available to tailor services to community needs.

“This development is a strategic investment in long-term housing stability for seniors,” remarked Deborah Welchel, Vice President of Real Estate Development in Texas at Volunteers of America National Services. The strong collaboration with Comerica and DHA Housing Solutions for North Texas highlights the effort to maintain affordability in high-need areas.

The Federal Home Loan Bank of Dallas is committed to advancing community revitalization through high-quality housing initiatives, as emphasized by Greg Hettrick, Senior Vice President and Director of Community Investment at FHLB Dallas. In 2024 alone, FHLB Dallas allocated $44.7 million in AHP General Fund grants to support Texas-based affordable housing projects, facilitating the development of 2,409 units.

Comerica Incorporated (CMA, Financial), headquartered in Dallas, Texas, continues its dedication to community development through strategic partnerships and support for projects like The Culbreath. Comerica is one of the largest U.S. commercial financial holding companies, with a market cap of $7.29 billion as of March 2025.

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