Federal Home Loan Bank of Dallas and BankPlus Celebrate New Affordable Housing in Jackson, Mississippi, Made Possible by $499K Grant

27-unit Noel Place will set aside affordable apartments for special-needs residents

JACKSON, Miss.--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas) and BankPlus were joined by Gulf Coast Housing Partnership (GCHP), Midtown Partners Inc. and local leaders to celebrate the opening of Noel Place, a new affordable housing development in Jackson, Mississippi. Funded in part by a $499,000 Affordable Housing Program (AHP) grant, Noel Place will set aside 60 percent of the housing units for special-needs residents, including people with disabilities and people who are 55 years old and older. The development is a partnership between GCHP and Midtown Partners Inc., the neighborhood-based nonprofit that serves the Midtown community.

“We are grateful for the support of FHLB Dallas and BankPlus,” said GCHP President and CEO Kathy Laborde. “Their investment in Noel Place makes it possible for us to reinvest in Midtown — one of Jackson’s oldest neighborhoods — by providing quality, affordable housing that removes blight and fosters a thriving community for families.”

Noel Place received the $499,000 AHP grant through FHLB Dallas member BankPlus.

“The need for affordable housing in Jackson is urgent, and projects like Noel Place are critical to providing safe, quality homes for those who most need them,” said Mark Ouellette, senior vice president and director of the Affordable Housing Program at BankPlus. “We seek strong partnerships to address the issue of affordable housing, and Noel Place is a testament to our collaboration with FHLB Dallas and GCHP.”

AHP grants 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.

“We are thrilled to celebrate the opening of Noel Place, which expands affordable housing options for the people of Jackson, especially those with special needs and older residents,” said Bruce Hatton, vice president, community marketing and outreach manager at FHLB Dallas. “We are committed to supporting projects that make a lasting impact, and Noel Place is an example of what our funding assistance can achieve.”

In 2024, FHLB Dallas awarded $78.9 million in AHP General Fund grants to 41 affordable housing projects. The grants will help create 3,571 new or rehabilitated housing units. The application window for 2025 AHP grants will open on April 2 with awards announced in the fall. Learn more about the FHLB Dallas Affordable Housing Program.

About BankPlus

Founded in 1909, BankPlus is one of the Southeast’s premier regional banks serving consumers and businesses with the latest technology through a full suite of financial services, including retail banking, commercial banking, mortgage lending and wealth management. With over $7.9 billion in total assets, BankPlus operates 81 financial centers throughout Mississippi, Alabama, Louisiana, and Florida. For more information about BankPlus, visit www.bankplus.net.

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 $127.7 billion as of December 31, 2024, 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.