Houston, Texas, Senior Housing Development Breaks Ground with Support of $750K FHLB Dallas Grant

Funding for the WALIPP Development Provided through Frost Bank

HOUSTON--(BUSINESS WIRE)-- The William A. Lawson Institute for Peace and Prosperity (WALIPP) and community partners broke ground on the WALIPP Senior Residences, an affordable housing development for older adults in Houston, Texas’ Third Ward. The project received a $750,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) through Frost Bank to support the construction.

FHLB Dallas joined WALIPP, VOANS and VOA Texas to celebrate the groundbreaking for the WALIPP Senior Residence expansion in Houston, Texas. The project received a $750,000 AHP grant.

The $29.3 million affordable housing development is a joint venture between WALIPP, Volunteers of America National Services (VOANS) and Volunteers of America Texas (VOA Texas).

“This has been a dream for a long time, and seeing it finally come to life is incredibly meaningful,” said Cheryl Lawson, executive director of WALIPP. “We’re building more than housing—we’re creating a place where our seniors can feel safe, supported and part of something special.”

The funding from FHLB Dallas will help support the development of 102 units, offering residents 55 and older access to affordable housing and supportive services that include a food pantry, health services, meal programs and educational opportunities.

“FHLB Dallas is proud to partner with Frost Bank to support of the development of more affordable housing for seniors,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “This project reflects our commitment to strengthening communities through strategic investments in housing and economic development.”

Frost Bank has been a long-time supporter of FHLB Dallas AHP grants.

“We are honored to work with WALIPP and FHLB Dallas to bring this important project to life,” said Sawyer Williams, senior vice president/CRA officer at Frost Bank. “The WALIPP Senior Residence will have a lasting impact on the community, and we’re proud to be part of it.”

AHP funds are awarded through FHLB Dallas member institutions 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.

In 2025, FHLB Dallas awarded $73.5 million in AHP General Fund grants to 53 affordable housing projects in Arkansas, Colorado, Louisiana, Mississippi, New Mexico and Texas. The grants will help create 3,777 new or rehabilitated housing units. Learn more about the FHLB Dallas Affordable Housing Program.

About Frost Bank

Frost is the banking, investments and insurance subsidiary of Cullen/Frost Bankers, Inc. (NYSE: CFR), a financial holding company with $52.5 billion in assets at Sept. 30, 2025. One of the 50 largest U.S. banks by asset size, Frost provides a full range of banking, investments and insurance services to businesses and individuals in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost has helped Texans with their financial needs during three centuries. For more information, visit www.frostbank.com.

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 $112.2 billion as of September 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.

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Corporate Communications

Federal Home Loan Bank of Dallas

fhlb.com, (214) 441-8445

Source: Federal Home Loan Bank of Dallas