Vista de Socorro to Serve Disabled and At-Risk Communities
Representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Southwest Capital Bank (Southwest Capital) attended a ribbon cutting ceremony yesterday for Vista de Socorro Apartments. Completion was made possible in part by a $220,000 Affordable Housing Program (AHP) grant through FHLB Dallas member Southwest Capital.
Vista de Socorro Apartments is a 32-unit complex in Socorro, New Mexico, with one- and two-bedroom housing for low-income individuals and families. It has seven units reserved for people with disabilities.
“This project meets the pressing need for both affordable housing for at-risk populations and special needs residents,” said Anthony Ortiz, controller and senior vice president at Southwest Capital. “We are so pleased to be a part of this project.”
AHP funds assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for individuals. The funds must be used to benefit households with incomes at or below 80 percent of the median income for the area.
“Investing in affordable housing isn’t just good business—it’s a meaningful way to strengthen communities, create stability for residents and build a future for New Mexico families,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas.
In 2024, FHLB Dallas awarded nearly $100 million in AHP grants for 4,833 units that support housing affordability in its District, which includes Arkansas.
This year, $149.5 million has been allocated for the AHP, homeownership grants and voluntary programs, such as home repair assistance for military veterans and small business loans. Learn more about the FHLB Dallas Affordable Housing Program.
Discover the latest trends and insights—explore the Business Insights Journal for up-to-date strategies and industry breakthroughs!
