Partners Southeast Awarded $4 Million in Investments from FHLB Dallas to Develop Senior Housing

BATON ROUGE, LA —Partners Southeast has been awarded $4 million by the Federal Home Loan Bank of Dallas (FHLB Dallas) through its Affordable Housing Program (AHP) for its planned Cypress at Wards Creek and Capstone at North Point communities, each receiving a $2 million investment— marking the largest, maximum award for an individual project in FHLB Dallas’ history. This record-setting award by FHLB Dallas is part of $78.9 million in AHP grants distributed to communities across Louisiana, Mississippi, Arkansas, New Mexico, and Texas.
Notably, Partners Southeast has secured three, FHLB Dallas AHP grants over the last eight months, totaling $6.1 million over recent funding cycles, thanks to a successful partnership with its local financial partner, Home Bank.
These transformative investments will assist in producing over 150 new apartment homes for seniors, our most vulnerable population.
The Capstone at North Point community will rise on a portion of the historic, 15-acre Earl K. Long (EKL) Medical Center site, recently acquired by EBRPHA from Louisiana State University. Vacant since the hospital’s closure in 2013, this site is designed to become a vibrant residential and commercial mixed- use community with housing, health and wellness services, childcare, and educational resources. Partners Southeast and The Banyan Foundation will co-develop the planned 113-unit mixed-income senior community that will provide essential “aging in place” amenities.
“We are incredibly honored to receive these two investments from FHLB Dallas, which underscores the power of collaboration and shared vision in transforming communities,” stated J. Wesley Daniels Jr., CEO of Partners Southeast. “Partners Southeast remains committed to creating vibrant, inclusive spaces that uplift families and provide lasting opportunities for generations to come. This milestone exemplifies what can be achieved when we work together to build a brighter future.”