***11:00 a.m., Friday, March 22, 600 West Cantu Road, Del Rio, Texas, 78840 ***

The Federal Home Loan Bank of Dallas (FHLB Dallas) will join Wells Fargo Bank (Wells Fargo) at a groundbreaking ceremony for a 60-unit affordable apartment complex in Del Rio, Texas, on Friday. The project received an $850,000 Affordable Housing Program (AHP) grant from FHLB Dallas.

The AHP funds will be used for the reconstruction of Rio Manor Apartments, a 46-year-old multifamily apartment community. Twelve units will be added, as well as upgrades for energy efficiency and added ADA requirements and improving the community for residents. The funds are part of $28.4 million in AHP grants provided by FHLB Dallas through its member financial institutions in 2023. The funds were awarded to Prospera Housing Community Services (Prospera) through Wells Fargo, an FHLB Dallas member institution.

The media is encouraged to attend the groundbreaking ceremony, which will include representatives from Wells Fargo, Rio Manor and Prospera.

Learn more about the Dallas FHLB Affordable Housing Program.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240320295458/en/