Renaissance Gateway Apartments Get New Lease on Life with Grant from IBERIABANK and FHLB Dallas

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Feb 26, 2015, 07:08 ET

BATON ROUGE, La., Feb. 26, 2015 /PRNewswire-USNewswire/ -- The 208-unit Renaissance Gateway Apartments in Baton Rouge were dedicated yesterday with a ceremonial ribbon-cutting event. The $28 million project was assisted by a $500,000 Affordable Housing Program (AHP) grant from IBERIABANK and the Federal Home Loan Bank of Dallas (FHLB Dallas).

The 208-unit Renaissance Gateway Apartments in Baton Rouge, Louisiana were dedicated February 25, 2015. The $28 million project, serving very low- and low-income individuals and families, included a $500,000 Affordable Housing Program grant from IBERIABANK and the Federal Home Loan Bank of Dallas.

"IBERIABANK has a long history of community partnerships, and we are especially proud to support the improvements made to Renaissance Gateway Apartments," said IBERIABANK Baton Rouge President Ben Marmande. "We believe we can make significant strides in bettering the communities around us through an investment that supports safe living conditions and affordable housing."

The renovated complex, barely recognizable from its original 1970s design, features one- to four-bedroom apartments for very low- to low-income individuals and families. Pitched roofs and bright colors replaced flat rooflines and outdated hues. Amenities include a new swimming pool, community room, playground, laundry facilities, fitness center, picnic area, computer center, and on-site management.

AHP grants are awarded through FHLB Dallas member financial institutions, such as IBERIABANK, to assist in the development of affordable, owner-occupied and rental housing for very low- to moderate-income households. Since 1990, FHLB Dallas has awarded more than $237 million in AHP funds to assist more than 44,000 individuals and families. FHLB Dallas has announced the availability of $7.6 million in competitive AHP grant funds for 2015. The deadline to submit an application is March 17, 2015.

"FHLB Dallas is very pleased to contribute to such a worthwhile project," said Greg Hettrick, vice president and director of Community Investment at FHLB Dallas. "It is a part of our mission to support the communities served by our members, and the AHP allows us to do that in meaningful ways."

About IBERIABANK
IBERIABANK Corporation is a financial holding company with 280 combined offices, including 188 bank branch offices and three loan production offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida, 23 title insurance offices in Arkansas and Louisiana, mortgage representatives in 57 locations in 10 states. The company has eight locations with representatives of IBERIA Wealth Advisors in five states, and one IBERIA Capital Partners, L.L.C. office in New Orleans.

About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $38 billion as of December 31, 2014, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.

Contact:
Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445

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SOURCE Federal Home Loan Bank of Dallas