FHLB Dallas and Wells Fargo Celebrate Grand Opening of Affordable Apartments with $610K Grant

Calle Cuarta to Serve Families with Children and Provide Live-Work Spaces

ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas), Wells Fargo, YES Housing and elected officials celebrated the grand opening today of Calle Cuarta, which received a $610,000 FHLB Dallas Affordable Housing Program (AHP) grant through Wells Fargo.

“Having the FHLB Dallas dollars really helped us close this deal,” said Michelle DenBleyker, senior vice president of Real Estate Development at YES Housing. “We used 11 funding sources to make this project happen.”

The AHP grant contributed to the construction of the $25 million affordable apartment complex in Albuquerque, New Mexico. Calle Cuarta offers 61 units ranging from studios to three-bedroom apartments designed for low-income families with children. It includes four retail spaces and four live-work units for street-level small businesses such as coffee shops, retail shops or restaurants with apartments above. Outdoor amenities include walking trails, playgrounds and a dog park.

“Affordable housing efforts like Calle Cuarta are essential for strong and vibrant communities,” said Patty Parina, vice president in Wells Fargo’s Community Lending and Investment group. “We’re honored to help bring this vision to life by applying for and securing an AHP grant from FHLB Dallas.”

AHP funds, awarded through FHLB Dallas member institutions such as Wells Fargo, assist in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. These funds benefit households with incomes at or below 80 percent of the median income for the area.

“This development brings lasting value to the community by increasing access to affordable housing and it responds to specific needs in Albuquerque by offering housing for families and small businesses,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas.

In 2024, FHLB Dallas awarded nearly $3.9 million in AHP General Fund grants to New Mexico-based affordable housing projects. FHLB Dallas will announce 2025 grant awardees this fall. Learn more about the FHLB Dallas Affordable Housing Program.

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 fhlb.com.