At NeighborWorks Capital, partnerships are essential to expanding the impact of our work. Our membership with the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) plays a critical role in that effort, strengthening our access to capital and enabling us to deliver greater value to organizations across the NeighborWorks network. In Austin, Texas, this partnership helped unlock new supportive housing opportunities for residents facing the region’s most significant housing challenges.
Through our membership, NeighborWorks Capital sponsored the application for $2 million in successful awards from the bank’s Affordable Housing Program General Fund to support two developments. Balcones Terrace and Burleson Studios will provide 227 supportive housing units for single adults who have struggled maintaining housing, are transitioning from homelessness, or are living on extremely low and fixed incomes such as veterans and seniors.
The projects are led by Foundation Communities and are part of a broader $64 million financing effort that combines public and private investment to expand deeply affordable housing in Austin.
Balcones Terrace is the result of the transformation of a former hotel into 123 efficiency apartments with energy-efficient appliances and on-site services designed to support resident stability. Across the city, Burleson Studios will add 104 newly constructed studio apartments near Mobile Loaves & Fishes’ Community First! Village, connecting residents to a wider network of supportive services.
“Through these two supportive communities, hundreds of our Austin neighbors will have a place to feel safe from the dangers of homelessness, and from financial stress,” said Walter Moreau, Executive Director of Foundation Communities. “It’s thanks in large part to our partnership with NeighborWorks Capital and FHLBank Atlanta.”
Our relationship with FHLBank Atlanta strengthens our ability to serve the NeighborWorks network. Increased credit availability and flexible funding through the bank enable us to expand lending capacity, support more nonprofit developers, and help bring more affordable housing development to life, delivering both community impact and scalable investment opportunities for our partners and investors.
Continue the Story
This story first appeared in our 2025 Annual Report. Discover how our membership with FHLB Atlanta is advancing community development, and explore additional stories, impact, and highlights from the year in our full report.
