$1.1 Million Grant from FHLB Dallas and Texas Regional Bank Helps Transform Historic Hotel into Affordable Housing Apartments in Brownsville, Texas

Audio By Carbonatix

BROWNSVILLE, Texas--(BUSINESS WIRE)--Feb 26, 2026--

The Housing Authority of the City of Brownsville (HACB) celebrated the grand opening of the historic El Jardin, reborn as an affordable residential community, in downtown Brownsville, Texas, thanks in part to a $1.1 million Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) through member Texas Regional Bank.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260226474611/en/

The historic El Jardin in Brownsville, Texas, formerly a hotel, has reopened as an affordable housing apartment building. It received a $1.1 million Affordable Housing Program (AHP) grant from FHLB Dallas through Texas Regional Bank.

Originally built in 1927, El Jardin operated as a hotel until the late 1980s. The property, which sat vacant for about 40 years, is reopening as an eight-story apartment building with 44 affordable housing units containing one-, two- and three-bedroom apartments.

“This project is a testament to what can happen when public and private partners come together to preserve history and meet critical housing needs,” said HACB CEO Carla Mancha. “Thanks to the AHP grant from FHLB Dallas, we were able to tackle critical repairs and closing costs, which brought this project to life.” Ms. Mancha also serves on FHLB Dallas’ Affordable Housing Advisory Council.

The project is located in Brownsville’s Historic Overlay District, ensuring the preservation of the city’s architectural heritage.

“El Jardin shows what’s possible when local housing leaders and community partners bring the right tools to the table,” said Texas Regional Bank Chairman and CEO Michael Scaief. “We’re proud the AHP grant and our partnership with FHLB Dallas helped move this redevelopment from plan to reality, honoring Brownsville’s past and opening doors for families to thrive in the future.”

AHP funds are awarded through FHLB Dallas member institutions like Texas Regional Bank and assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing, as well as housing for individuals experiencing homelessness.

“Projects like El Jardin breathe new life into neighborhoods,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “By combining affordable housing with historic preservation, we’re helping strengthen the city of Brownsville for years to come.”

Learn more about the FHLB Dallas Affordable Housing Program.

About Texas Regional Bank

Founded in 2010 and rooted in local purpose, Texas Regional Bank (TRB) is a privately owned financial institution bringing full-service, relationship-driven banking back to the communities it serves. With more than 37 locations across the Rio Grande Valley, Texas Hill Country, Houston and the Dallas–Fort Worth Metroplex, TRB delivers a full suite of financial solutions for individuals, families and businesses through locally-led teams supported by the scale and capabilities of a diversified financial services platform. Together with its subsidiaries, TRB offers domestic and international banking, trust and wealth management, insurance, mortgage, capital markets, economic development and foreign exchange services. For more information about Texas Regional Bank, visit trb.bank.

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20260226474611/en/

CONTACT: Corporate Communications

Federal Home Loan Bank of Dallas

fhlb.com, (214) 441-8445

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES PHILANTHROPY RESIDENTIAL BUILDING & REAL ESTATE OTHER PHILANTHROPY FINANCE CONSTRUCTION & PROPERTY BANKING

SOURCE: Federal Home Loan Bank of Dallas

Copyright Business Wire 2026.

PUB: 02/26/2026 01:02 PM/DISC: 02/26/2026 01:02 PM

http://www.businesswire.com/news/home/20260226474611/en