HOUSTON--(BUSINESS WIRE)--Dec 11, 2025--
The William A. Lawson Institute for Peace and Prosperity (WALIPP) and community partners broke ground on the WALIPP Senior Residences, an affordable housing development for older adults in Houston, Texas’ Third Ward. The project received a $750,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) through Frost Bank to support the construction.
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The $29.3 million affordable housing development is a joint venture between WALIPP, Volunteers of America National Services (VOANS) and Volunteers of America Texas (VOA Texas).
“This has been a dream for a long time, and seeing it finally come to life is incredibly meaningful,” said Cheryl Lawson, executive director of WALIPP. “We’re building more than housing—we’re creating a place where our seniors can feel safe, supported and part of something special.”
The funding from FHLB Dallas will help support the development of 102 units, offering residents 55 and older access to affordable housing and supportive services that include a food pantry, health services, meal programs and educational opportunities.
“FHLB Dallas is proud to partner with Frost Bank to support of the development of more affordable housing for seniors,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “This project reflects our commitment to strengthening communities through strategic investments in housing and economic development.”
Frost Bank has been a long-time supporter of FHLB Dallas AHP grants.
“We are honored to work with WALIPP and FHLB Dallas to bring this important project to life,” said Sawyer Williams, senior vice president/CRA officer at Frost Bank. “The WALIPP Senior Residence will have a lasting impact on the community, and we’re proud to be part of it.”
AHP funds are awarded through FHLB Dallas member institutions 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.
In 2025, FHLB Dallas awarded $73.5 million in AHP General Fund grants to 53 affordable housing projects in Arkansas, Colorado, Louisiana, Mississippi, New Mexico and Texas. The grants will help create 3,777 new or rehabilitated housing units. Learn more about the FHLB Dallas Affordable Housing Program.
About Frost Bank
Frost is the banking, investments and insurance subsidiary of Cullen/Frost Bankers, Inc. (NYSE: CFR), a financial holding company with $52.5 billion in assets at Sept. 30, 2025. One of the 50 largest U.S. banks by asset size, Frost provides a full range of banking, investments and insurance services to businesses and individuals in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost has helped Texans with their financial needs during three centuries. For more information, visit www.frostbank.com.
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 $112.2 billion as of September 30, 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.
FHLB Dallas joined WALIPP, VOANS and VOA Texas to celebrate the groundbreaking for the WALIPP Senior Residence expansion in Houston, Texas. The project received a $750,000 AHP grant.
DUBAI, United Arab Emirates (AP) — Iran responded to U.S. President Donald Trump’s address to Americans on the war with new missile attacks targeting Israel and the Gulf Arab states Thursday, underlining Tehran’s insistence that it rejected Washington’s outreach for a ceasefire while maintaining its grip on the Strait of Hormuz.
Britain planned to hold a call Thursday with nearly three dozen countries about how to reopen the strait, through which 20% of all oil and natural gas traded passes in peacetime. The 35 countries, including all G7 industrialized democracies except the U.S., as well as the United Arab Emirates and Bahrain, signed a declaration last month demanding Iran stop blocking the strait. The call will discuss “diplomatic and political measures” that could restore shipping once the fighting is over.
Washington has insisted that Iran allow ships to freely transit the strait, but Trump this week has said it is not up to the U.S. to force it, and in his address encouraged countries that receive oil through Hormuz to “build some delayed courage” and go “take it.”
In his address, Trump said the U.S. would hit Iran “extremely hard over the next two to three weeks,” while also insisting American “core strategic objectives are nearing completion.”
Iran's military said defiantly on Thursday that its armament facilities are hidden and will never be reached by Israeli or American attacks.
“The centers you think you have targeted are insignificant,” said Lt. Col. Ebrahim Zolfaghari, a spokesman for the Iranian military’s Khatam Al-Anbiya Central Headquarters.
Just before Trump began his nearly 20-minute address on Wednesday, explosions were heard in Dubai as air defenses worked to intercept an Iranian missile barrage. Less than a half hour after the president was done, Israel said its military was working to intercept incoming missiles.
Sirens sounded in Bahrain, home to the U.S. Navy's 5th Fleet, immediately after the speech.
Following a joint statement in March condemning Iranian attacks on unarmed commercial vessels that called upon Iran to “cease immediately its threats, laying of mines, drone and missile attacks and other attempts to block the strait,” the 35 signatories were to hold a virtual meeting Thursday hosted by British Foreign Secretary Yvette Cooper.
Though the oil and gas that typically transits the Strait of Hormuz primarily is sold to Asian nations, Japan and South Korea were the only two countries from the region that were joining.
“Trump’s message was that the United States can sustain its own economic and energy ecosystem, while countries dependent on regional exports will either have to buy from the United States or manage the Strait themselves,” the New York-based Soufan Center think tank wrote after the address.
“While Trump explicitly thanked U.S. allies in the Persian Gulf for their cooperation and allyship, an expedited U.S. withdrawal without securing the strait will leave many of these countries, whose economies are dependent on energy exports, in the lurch.”
No country appears willing to try and open the strait by force while the war is raging. British Prime Minister Keir Starmer said the group “will assess all viable diplomatic and political measures we can take to restore freedom of navigation, guarantee the safety of trapped ships and seafarers and to resume the movement of vital commodities.”
Bahrain, which now holds the presidency of the United Nations Security Council, has been working to get the world body to address the crisis as well.
Though Iran has allowed a trickle of ships through the strait, it remains largely closed. Iran has also been repeatedly attacking Gulf Arab energy infrastructure, sending oil prices skyrocketing and giving rise to broader economic problems worldwide.
Following Trump's speech, Brent crude, the international standard, rose again and was at $108 in early spot trading, up nearly 50% from Feb. 28 when Israel and the U.S. started the war with their attacks on Iran.
The rising energy prices and stock market jitters have been putting increasing domestic pressure on Trump, who used his address to offer a defense of the war while also suggesting it was close to winding down.
He acknowledged American service members who had been killed and said: “We are going to finish the job, and we’re going to finish it very fast. We’re getting very close.”
The U.S. has presented Iran with a 15-point plan for a ceasefire, but Trump didn’t say anything about the diplomatic efforts or bring up his April 6 deadline for Iran to reopen the Strait of Hormuz or face severe retaliation from the U.S.
More than 1,900 people have been killed in Iran during the war, while 19 have been reported dead in Israel. More than two dozen people have died in Gulf states and the occupied West Bank, while 13 U.S. service members have been killed.
More than 1,200 people have been killed in Lebanon and more than 1 million displaced, according to authorities. Ten Israeli soldiers have also died there.
Weissert reported from Washington and Rising reported from Bangkok.
The Indian flagged LPG carrier Jag Vasant transporting liquefied petroleum gas, is seen at the Mumbai Port in Mumbai, India, after it arrived clearing the Strait of Hormuz, Wednesday, April 1, 2026. (AP Photo/Rafiq Maqbool)
President Donald Trump speaks about the Iran war from the Cross Hall of the White House on Wednesday, April 1, 2026, in Washington. (AP Photo/Alex Brandon, Pool)
President Donald Trump walks from the Blue Room to speak about the Iran war from the Cross Hall of the White House on Wednesday, April 1, 2026, in Washington. (AP Photo/Alex Brandon, Pool)
President Donald Trump speaks about the Iran war from the Cross Hall of the White House on Wednesday, April 1, 2026, in Washington. (AP Photo/Alex Brandon, Pool)
President Donald Trump speaks about the Iran war from the Cross Hall of the White House on Wednesday, April 1, 2026, in Washington. (AP Photo/Alex Brandon, Pool)
