HOUSTON--(BUSINESS WIRE)--Houston Mayor Sylvester Turner joined local dignitaries and representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Texas Capital Bank, an FHLB Dallas member institution, for a grand-opening celebration Thursday for Star of Hope’s Cornerstone CommunitySM (Cornerstone CommunitySM).
Star of Hope was awarded a $500,000 Affordable Housing Program (AHP) grant this year from Texas Capital Bank and FHLB Dallas, assisting in the construction of the 48-acre campus. The campus will provide services to up to 180 single women and 150 families. Star of Hope’s former Women and Family Emergency Shelter and the Transitional Living Center have been consolidated on the Cornerstone CommunitySM campus to become the new Women and Family Development Center.
“Here we will serve up to 600 women and children, with a full spectrum of basic services, counseling, programs for substance abuse recovery, GED and educational opportunities, job skills training and independent living readiness,” said Star of Hope President and CEO Hank Rush.
In 2017, FHLB Dallas awarded $7 million in AHP grants to 19 affordable housing projects. The grants will help create 1,108 new or rehabilitated housing units. Of the total amount, Texas was awarded $3,419,168 for 722 units.
“Texas Capital Bank supports Houston and the homeless women who need the services that Star of Hope provides on this transformational campus,” said Effie Dennison, senior vice president and director of Community Development and Corporate Social Responsibility at Texas Capital Bank. “Many Houstonians will be able to return to living productive lives, thanks to this grant.”
Since 1990, more than $254 million in AHP and AHP set-aside grants have been awarded through FHLB Dallas members to assist more than 47,000 individuals and families with their housing needs.
“The AHP is designed for projects like Star of Hope’s Cornerstone CommunitySM,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “We applaud Texas Capital Bank for their commitment to making life easier for the vulnerable residents of the community.”
About Texas Capital Bancshares, Inc.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI), a member of the Russell 2000® Index and the S&P SmallCap 600®, is the parent company of Texas Capital Bank, a commercial bank that delivers highly personalized financial services to businesses and entrepreneurs. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio.
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 $66.4 billion as of September 30, 2017, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 840 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.