FHLB Dallas and Wells Fargo Celebrate the Grand Opening of Burleson Studios in Austin, Texas

Foundation Communities Received a $1.56 Million Grant Toward Development Costs

AUSTIN, Texas--(BUSINESS WIRE)--A $1.56 million Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas), through Wells Fargo, helped support the grand opening of Burleson Studios, a 104-unit supportive housing community designed primarily for individuals exiting chronic homelessness.

Developed by Foundation Communities in collaboration with Mobile Loaves & Fishes as part of the Burleson Road Expansion of Community First! Village, Burleson Studios provides residents with housing, supportive services and opportunities to build long-term independence. The Austin, Texas, development features studio apartments, community gathering spaces and on-site resources that promote health, wellness and housing stability.

FHLB Dallas has been a significant supporter of Community First! Village, providing more than $9 million in funding over several years to help expand affordable housing in the Austin, Texas, area.

The AHP grant provided funding to help bring the development to completion, said Walter Moreau, executive director of Foundation Communities.

“This will be our most innovative and services-rich housing community,” Mr. Moreau said. “We are excited to see the success it will bring for residents of Burleson Studios.”

Residents will have access to intensive case management, a healthy food pantry, fitness room, computer room, laundry facilities, community room and outdoor gathering spaces. The development also includes an on-site health facility.

“Everyone deserves access to a safe, stable place to call home,” said Christopher Rios, regional vice president of Philanthropy and Community Impact at Wells Fargo. “We’re proud to work alongside FHLB Dallas and Foundation Communities to help expand supportive housing options and strengthen the Austin community.”

AHP grants are awarded through FHLB Dallas member institutions such as Wells Fargo and assist in financing the purchase, construction and rehabilitation of housing for households earning at or below 80 percent of the median income for the area.

“Our Affordable Housing Program continues to be an important tool for addressing housing needs across our District,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “Burleson Studios demonstrates the lasting impact these grants can have.”

FHLB Dallas awarded $73.5 million in AHP grants in 2025, and the 2026 AHP awards will be announced this month.

About 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 $107.8 billion as of June 30, 2026, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and credit products to approximately 780 member institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.