Norman Commons To Provide 156 Apartments for Families in Austin, Texas
AUSTIN, TX / ACCESS Newswire / April 16, 2026 / Wells Fargo, the Federal Home Loan Bank of Dallas (FHLB Dallas) and Foundation Communities celebrated the grand opening of the 156-unit Norman Commons affordable apartment complex that will support families and individuals in Austin, Texas. The development received a $1.75 million grant from FHLB Dallas through Wells Fargo to assist with development costs.
The $58 million complex was developed by Foundation Communities and the Austin Housing Finance Corp. adjacent to Norman-Sims Elementary and includes 10 percent of its units that prioritize families experiencing homelessness. A learning center provides free afterschool and summer programs for children, a healthy food pantry and classes for adults.
To cultivate a sense of place, developers partnered with local artists to create a public art piece that honors the neighborhood's history and the culture of Black cowboys, who still ride in the neighborhood today.
"We're grateful for the AHP grant that helped make Norman Commons possible, and we're proud to open a community that provides Austin families with stability and opportunity," said Walter Moreau, executive director of Foundation Communities.
AHP grants are awarded annually through FHLB Dallas member institutions to support development and rehabilitation of affordable housing for low-income households.
"Wells Fargo is proud to continue its longstanding support of Foundation Communities and help extend its community impact through FHLB Dallas AHP grants," said Christopher Rios, Wells Fargo regional vice president. "Norman Commons reflects our shared commitment to expanding housing access and affordability in Austin."
The application period for the 2026 funding cycle is now open through April 30. Applications must be made through an FHLB Dallas member. Last year, FHLB Dallas awarded $73.5 million in AHP grants across six states.
"It's great to see Norman Commons come to life, and we're really glad we could help support it with an AHP grant," said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. "Norman Commons gives kids and parents a real chance to grow, connect and build a stronger future together."
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.
CONTACT:
Corporate Communications> Federal Home Loan Bank of Dallas
fhlb.com, (214) 441-8445
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View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/fhlb-dallas-and-wells-fargo-celebrate-opening-of-affordable-apartmen-1158260
