New Affordable Apartments in Austin, Texas, Helped by $2M Grant From FHLB Dallas and Bank OZK

Organizations and Community Partners Celebrated the Opening at an Event

AUSTIN, Texas--(BUSINESS WIRE)--Austin, Texas, residents have new affordable housing options, thanks in part to a $2 million grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) through member, Bank OZK. The banks joined Austin Housing Finance Corp. in celebrating the grand opening of The Roz, a 100-unit community of affordable apartments in South Austin.

The $24.3 million complex, developed by Austin Housing Finance Corp. and SGI Ventures, serves residents earning 30 to 60 percent of the area median income. The four-story apartment complex includes on-site case management and helps address the demand for affordable, service-enriched housing for individuals transitioning out of homelessness.

“The Roz will serve as a place of stability and well-being for our most vulnerable neighbors,” said Austin Housing Finance Corp. Treasurer Deletta Dean. “By combining housing with support services, this community meets people where they are and supports them for long-term success.”

The grant was part of $78.9 million FHLB Dallas awarded in 2024. All AHP grants are awarded through member financial institutions like Bank OZK.

“The Roz shows how thoughtful investment in affordable housing can create lasting stability for individuals exiting homelessness,” said Executive Vice President Patrick Russell, Bank OZK’s affordable housing relationship manager. “We value our collaboration with Austin Housing Finance Corp. and FHLB Dallas in supporting this development.”

AHP grants are awarded annually through FHLB Dallas member institutions to support the development and rehabilitation of affordable housing for low-income households. The 2026 application period closes April 30. Applications must be made through an FHLB Dallas member.

“The AHP grant provided meaningful support that helped move The Roz forward at a critical stage,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “Through our relationship with Bank OZK, we are helping advance housing solutions that strengthen Texas communities.”

Bank OZK

Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence. Established in 1903, Bank OZK conducts banking operations in 268 offices in nine states including Arkansas, Georgia, Florida, Texas, North Carolina, Tennessee, New York, California and Mississippi and had $40.8 billion in total assets as of December 31, 2025. For more information, visit ozk.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 $108.5 billion as of December 31, 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.