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.
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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.
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.
JERUSALEM (AP) — As U.S. forces mass in the Middle East, Iran faces the threat of major strikes by the world’s most powerful military, potentially targeting its leaders, military, nuclear sites and critical infrastructure.
Iran has nowhere near the same capabilities, and is even more vulnerable after last year's war launched by Israel and recent anti-government protests. But it could still inflict pain on American forces and allies, and may feel it has to if the Islamic Republic's survival is at stake.
While Iran suffered major losses last June, it still has hundreds of missiles capable of hitting Israel, according to Israel’s estimates. Iran boasts a much larger arsenal of shorter-range missiles capable of hitting U.S. bases in Gulf countries and offshore American forces, soon to be joined by a second aircraft carrier.
Iran has previously threatened to close the Strait of Hormuz, a vital waterway for the global oil trade, and claimed to have done so partially during military drills last week.
Supreme Leader Ayatollah Ali Khamenei warned that Iran could sink American warships, and top officials have said a U.S. attack would spark regional war. Iran’s U.N. ambassador Amir Saeid Iravani said “all bases, facilities and assets of the hostile force in the region” would be legitimate targets.
Israel carried out heavy strikes on Iran's longer range missile arsenals — as well as its military leadership and nuclear program — during the 12-day war in June. The U.S. struck Iran's main nuclear sites, and President Donald Trump said at the time that they had been “obliterated.”
But the extent of the damage — and how much has been rebuilt — is still unknown. Iran continued to strike Israel with missiles and drones until the fighting stopped, at times eluding its vaunted air defenses.
Iran's shorter-range missile arsenal was largely untouched, said Danny Citrinowicz, an Iran expert at Israel’s Institute for National Security Studies. That could make Iran more inclined to retaliate against tens of thousands of U.S. forces based in Qatar, Saudi Arabia, Jordan, the United Arab Emirates and elsewhere.
“Iran may be weak. But it still has ways to inflict real pain on the United States — and much more incentive to try than it did before,” Nate Swanson, head of the Atlantic Council’s Iran Strategy Project, wrote in Foreign Affairs. “Iranian officials feel they need to give Trump a bloody nose or they will perpetually be at risk.”
Iran launched missiles at a U.S. base in Iraq after the killing of its top general in 2020 and targeted a U.S. base in Qatar near the end of last year's war. Those strikes, which appeared to have been telegraphed in advance, caused damage but no fatalities, as early warning systems and missile defenses swung into action.
Iran has also held quiet talks with China about purchasing anti-ship missiles that could significantly boost its ability to strike warships and choke sea routes, officials with knowledge of the discussions told The Associated Press.
The officials, from two countries, spoke on condition of anonymity because they weren’t authorized to speak publicly about the sensitive talks. They said Iran is negotiating to buy a version of China's YJ-12 sea-skimming missiles. They said the outline of a deal was finalized after last year’s war, though no missiles have been delivered.
Last year's Israeli strikes killed several top generals and nuclear scientists, revealing major vulnerabilities. At one point, Trump said the U.S. knew where Khamenei was hiding, calling him an " easy target."
Fresh off the capture of Venezuelan leader Nicolás Maduro, Trump may consider decapitation strikes aimed at bringing down Iran's decades-old Shiite theocracy, which he recently said “would be the best thing that could happen.”
The Iranians have had eight months to learn from their mistakes and firm up internal security. Citrinowicz said there are likely contingency plans if Khamenei were to be killed. Rather than naming a single successor, power would probably shift to a small committee until hostilities subsided.
Experts say the death of the 86-year-old Khamenei, who has ruled Iran for over three decades, would not in itself spell the end of the Islamic Republic. Power might eventually pass to a member of his inner circle, as it did in Venezuela, or to Iran's Revolutionary Guard.
American allies are clearly concerned about a regional war, and Prime Minister Benjamin Netanyahu has warned of a heavy response to any Iranian attack on Israel.
Arab Gulf states have long viewed Iran with concern and leaned on the U.S. for defense, but do not want to be drawn into war. Saudi Arabia and the United Arab Emirates, which host thousands of American troops, have said they would not allow their airspace to be used.
An Arab Gulf diplomat said regional leaders were talking to Iran and the United States to avert war, warning that it could have severe consequences, including a spike in oil prices. The diplomat spoke on condition of anonymity to discuss the sensitive, closed-door talks.
Iran has its own allies, including Houthi rebels in Yemen, armed groups in Iraq, Hezbollah in Lebanon and Hamas in the Palestinian territories. But its self-described Axis of Resistance suffered major losses in the fighting that rippled across the region after Hamas' October 2023 attack from Gaza.
Iran or its proxies could also carry out attacks farther afield. The country has been accused of using criminal gangs and armed groups to plan or carry out attacks around the world, including on dissidents, Israelis and Jewish targets.
After initially threatening military action over Iran's killing of protesters, Trump shifted attention to its nuclear program, warning that “bad things” would happen if Iran doesn't agree to a deal. The two sides are set to hold another round of indirect talks in Geneva on Thursday.
Iran has always said its nuclear program is peaceful, while the U.S. and others have long suspected that Tehran intends to eventually develop weapons. After Trump scrapped a 2015 nuclear agreement, Iran ramped up its enrichment of uranium, building up a stockpile of near-weapons grade material.
Iran's biggest sites were hit by U.S. and Israeli strikes, causing significant damage above ground. But it's unclear whether enriched uranium was spirited away before they were hit or buried underground. Iran says it has been unable to enrich since then, but it has also barred inspections.
Iran is still believed to be a long ways from developing a usable nuclear weapon, but radioactive material could pose a risk in the event of widespread strikes.
Associated Press writers Samy Magdy in Cairo and John Leicester in Paris contributed reporting.
FILE - Firefighters work to extinguish a blaze after a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025. (AP Photo/Baz Ratner, File)
FILE - Israeli air defense system fires to intercept missiles during an Iranian attack over Tel Aviv, Israel, Thursday, June 19, 2025. (AP Photo/Leo Correa, File)
This image provided Thursday Feb. 19, 2026 by the Iranian military and dated Tuesday, Feb. 17, 2025, shows navy ships conducting operations during a join drill by Iranian and Russian forces in the Indian Ocean.(Masoud Nazari Mehrabi/Iranian Army via AP)
