FHLB Dallas and Comerica Celebrate Groundbreaking of New Senior Housing Project Supported by $2M Affordable Housing Program Grant

The Federal Home Loan Bank of Dallas (FHLB Dallas) joined Comerica Bank, Volunteers of America National Services and local dignitaries to break ground on a new senior housing project in Dallas, Texas, supported by a $2 million FHLB Dallas Affordable Housing Program (AHP) grant. The groundbreaking ceremony marks the start of construction on The Culbreath, a mixed-income affordable housing community, which will provide high-quality amenities and supportive services for elderly residents. The Culbreath is part of a massive revitalization of the Bonton neighborhood that surrounds the property.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250624566356/en/

The Federal Home Loan Bank of Dallas (FHLB Dallas) joined Comerica Bank, Volunteers of America National Services and a host of community and business leaders at the groundbreaking of The Culbreath, a 364-unit, mixed-income affordable housing project for seniors.

The Culbreath has a total of 364 units, with 90 percent of the units reserved for those at 60 percent of the median family income or below.

“This development is a strategic investment in long-term housing stability for seniors,” said Deborah Welchel, vice president of Real Estate Development in Texas at Volunteers of America National Services. “Today’s groundbreaking was made possible by strong partnerships and a shared commitment with DHA Housing Solutions for North Texas to preserving affordability in high-need communities.”

The Culbreath will feature a swimming pool, a fully furnished clubhouse, fitness center, business center and staff offices, including an onsite Resident Coordinator, who will design programs and services to meet the needs of the community.

“The success of projects like The Culbreath goes beyond the construction of the development—it is about creating stable, safe and affordable communities where seniors can thrive,” said Comerica Bank’s Senior Vice President and Director of Community Development Banking Beatrice Kelly. “This vision became a reality through the strength of collaboration, resulting in another significant investment into the revitalization of the southern sector of Dallas.”

AHP funds are awarded through FHLB Dallas member institutions like Comerica and 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.