The Federal Home Loan Bank of Dallas (FHLB Dallas) will join Wells Fargo Bank (Wells Fargo) tomorrow for a groundbreaking ceremony for Felician Village II, a three-story, 66-unit housing complex for those aged 55 and over. FHLB Dallas gave the project a $1.5 million Affordable Housing Program (AHP) grant to fund development.

The proposed construction would provide much-needed affordable housing, a priority for current and retired military personnel. The monies, given through FHLB Dallas member Wells Fargo, are part of $28.4 million in AHP grants offered by FHLB Dallas to its member banking institutions in 2023. 

Representatives from the City of Rio Rancho, FHLB Dallas, and CC Housing, a branch of Catholic Charities, are welcome to join the groundbreaking ceremony at Felician Village.

WHAT: Groundbreaking ceremony
WHEN: 1:30 p.m., Thursday, March 21, 2024 
WHO: Diana Barrett, Catholic Charities
Delores Nunez, Catholic Charities
Edgar Burciaga, FHLB Dallas
Adam Saber, CC Housing, Inc.
Tim Baker, Chelsea Investment Corporation
Isadoro Hernandez, New Mexico Mortgage Finance Authority 
WHERE: 1301 Stephanie Road SE, Rio Rancho, NM, 87124

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