FHLB Dallas and Comerica Celebrate Groundbreaking of New Senior Housing Project Supported by $2M Affordable Housing Program Grant

DALLAS--(BUSINESS WIRE)--Jun 24, 2025--

The Federal Home Loan Bank of Dallas (FHLB Dallas) joined Comerica Bank, Volunteers of America National Services and local dignitaries to break ground on a new senior housing project in Dallas, Texas, supported by a $2 million FHLB Dallas Affordable Housing Program (AHP) grant. The groundbreaking ceremony marks the start of construction on The Culbreath, a mixed-income affordable housing community, which will provide high-quality amenities and supportive services for elderly residents. The Culbreath is part of a massive revitalization of the Bonton neighborhood that surrounds the property.

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The Culbreath has a total of 364 units, with 90 percent of the units reserved for those at 60 percent of the median family income or below.

“This development is a strategic investment in long-term housing stability for seniors,” said Deborah Welchel, vice president of Real Estate Development in Texas at Volunteers of America National Services. “Today’s groundbreaking was made possible by strong partnerships and a shared commitment with DHA Housing Solutions for North Texas to preserving affordability in high-need communities.”

The Culbreath will feature a swimming pool, a fully furnished clubhouse, fitness center, business center and staff offices, including an onsite Resident Coordinator, who will design programs and services to meet the needs of the community.

“The success of projects like The Culbreath goes beyond the construction of the development—it is about creating stable, safe and affordable communities where seniors can thrive,” said Comerica Bank’s Senior Vice President and Director of Community Development Banking Beatrice Kelly. “This vision became a reality through the strength of collaboration, resulting in another significant investment into the revitalization of the southern sector of Dallas.”

AHP funds are awarded through FHLB Dallas member institutions like Comerica and assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. The funds must be used to benefit households with incomes at or below 80 percent of the median income for the area.

“It is our commitment to advance community revitalization through the construction of high-quality housing, and this groundbreaking is a powerful example of our commitment in action,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “Supporting this project is about more than funding—it’s about investing in the long-term resilience of our communities.”

In 2024, FHLB Dallas awarded $44.7 million in AHP General Fund grants to Texas-based affordable housing projects. The grants will help create 2,409 new or rehabilitated housing units. FHLB Dallas will announce 2025 grant awardees this fall. Learn more about the FHLB Dallas Affordable Housing Program.

About Comerica

Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank and Wealth Management. Comerica, one of the 25 largest commercial U.S. financial holding companies, focuses on building relationships and helping people and businesses be successful. Comerica provides banking centers across the country with locations in Arizona, California, Florida, Michigan and Texas. Founded on Aug. 17, 1849, in Detroit, Michigan, Comerica continues to expand into new regions, including its Southeast Market, based in North Carolina, and Mountain West Market in Colorado. Comerica has offices in 15 states and services 13 of the 15 largest U.S. metropolitan areas, as well as Canada and Mexico. Comerica reported total assets of $77.6 billion at March 31, 2025. Learn more about how Comerica is raising expectations of what a bank can be by visiting www.comerica.com, and follow us on Facebook, X, Instagram and LinkedIn.

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 $109.9 billion as of March 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.

The Federal Home Loan Bank of Dallas (FHLB Dallas) joined Comerica Bank, Volunteers of America National Services and a host of community and business leaders at the groundbreaking of The Culbreath, a 364-unit, mixed-income affordable housing project for seniors.

TRENTON, N.J. (AP) — Richard “Dick” Codey, a former acting governor of New Jersey and the longest serving legislator in the state's history, died Sunday. He was 79.

Codey’s wife, Mary Jo Codey, confirmed her husband’s death to The Associated Press.

“Gov. Richard J. Codey passed away peacefully this morning at home, surrounded by family, after a brief illness,” Codey's family wrote in a Facebook post on Codey's official page.

"Our family has lost a beloved husband, father and grandfather -- and New Jersey lost a remarkable public servant who touched the lives of all who knew him," the family said.

Known for his feisty, regular-guy persona, Codey was a staunch advocate of mental health awareness and care issues. The Democrat also championed legislation to ban smoking from indoor areas and sought more money for stem cell research.

Codey, the son of a northern New Jersey funeral home owner, entered the state Assembly in 1974 and served there until he was elected to the state Senate in 1982. He served as Senate president from 2002 to 2010.

Codey first served as acting governor for a brief time in 2002, after Christine Todd Whitman’s resignation to join President George W. Bush’s administration. He held the post again for 14 months after Gov. Jim McGreevey resigned in 2004.

At that time, New Jersey law mandated that the Senate president assume the governor’s role if a vacancy occurred, and that person would serve until the next election.

Codey routinely drew strong praise from residents in polls, and he gave serious consideration to seeking the Democratic nomination for governor in 2005. But he ultimately chose not to run when party leaders opted to back wealthy Wall Street executive Jon Corzine, who went on to win the office.

Codey would again become acting governor after Corzine was incapacitated in April 2007 due to serious injuries he suffered in a car accident. He held the post for nearly a month before Corzine resumed his duties.

After leaving the governor’s office, Codey returned to the Senate and also published a memoir that detailed his decades of public service, along with stories about his personal and family life.

“He lived his life with humility, compassion and a deep sense of responsibility to others,” his family wrote. “He made friends as easily with Presidents as he did with strangers in all-night diners.”

Codey and his wife often spoke candidly about her past struggles with postpartum depression, and that led to controversy in early 2005, when a talk radio host jokingly criticized Mary Jo and her mental health on the air.

Codey, who was at the radio station for something else, confronted the host and said he told him that he wished he could “take him outside.” But the host claimed Codey actually threatened to “take him out,” which Codey denied.

His wife told The Associated Press that Codey was willing to support her speaking out about postpartum depression, even if it cost him elected office.

“He was a really, really good guy,” Mary Jo Codey said. “He said, ‘If you want to do it, I don’t care if I get elected again.’”

Jack Brook contributed reporting from New Orleans.

FILE - New Jersey State Sen. and former Democratic Gov. Richard Codey is seen before New Jersey Gov. Phil Murphy delivers his State of the State address to a joint session of the Legislature at the statehouse, in Trenton, N.J., Tuesday, Jan. 10, 2023. (AP Photo/Matt Rourke, File)