Media Advisory: Federal Home Loan Bank of Dallas and Wells Fargo Bank Award $1.5M for Senior Housing

BY Business Wire | AGENCY | 03/20/24 04:16 PM EDT

***1:30 p.m., Thursday, March 21, 1301 Stephanie Road SE, Rio Rancho, NM, 87124 ***

RIO RANCHO, N.M.--(BUSINESS WIRE)-- The Federal Home Loan Bank of Dallas (FHLB Dallas) will join Wells Fargo Bank (Wells Fargo) tomorrow at a groundbreaking ceremony for Felician Village II, a three-story, 66-unit housing development for those 55 and older. FHLB Dallas awarded the project a $1.5 million in Affordable Housing Program (AHP) grant to be used for construction.

The proposed development will add much-needed affordable housing and will give preference to active and retired military. The funds, which were awarded through FHLB Dallas member, Wells Fargo, are part of $28.4 million in AHP grants provided by FHLB Dallas through its member financial institutions in 2023.

The media is encouraged to attend the groundbreaking ceremony at Felician Village, which will include representatives from the City of Rio Rancho, FHLB Dallas and CC Housing, a division of Catholic Charities. Learn more about the AHP.

WHAT:

Groundbreaking ceremony

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WHEN:

1:30 p.m., Thursday, March 21, 2024

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WHO:

Diana Barrett, Catholic Charities

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Delores Nunez, Catholic Charities

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Edgar Burciaga, FHLB Dallas

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Adam Saber, CC Housing, Inc.

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Tim Baker, Chelsea Investment Corporation

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Isadoro Hernandez, New Mexico Mortgage Finance Authority

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WHERE:

1301 Stephanie Road SE, Rio Rancho, NM, 87124

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Source: Federal Home Loan Bank of Dallas

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