HOUSTON, TX – MORGAN, a leader in upscale multifamily development, construction and property management, has opened Pearl Washington, its latest luxury apartment development in Houston. The midrise is conveniently located at the corner of Washington Avenue and T.C. Jester Blvd., surrounded by Washington Avenue’s restaurants and nightlife, Memorial Park and the well loved Houston Heights neighborhood. Downtown Houston and the Galleria/Uptown are only three miles away.

Pearl Washington contains five tales, with 322 one, two, and three-bedroom units over two levels of garage parking. All units, which range from 652 square feet to 1,443 square feet, have balconies.

The apartment community features MORGAN’s premium Pearl amenities, including open floor plans, high-end wood style floors, quality unit finishes, USB charging ports, Nest thermostats, a business café, state-of-the-art fitness club and private fitness studio. Residents also can delight in a Vegas-inspired swimming pool with private cabanas and an expansive sun deck overlooking Washington Avenue and downtown. In addition, there are two more courtyards with hammock swings, a bocce ball court, grilling areas, and a dog park.

“Since we started construction on Pearl Washington two years ago, the neighborhood has become an increasingly more attractive place to live,” said Vice President of Development Philip Morgan. “With a front door on Washington Avenue, the property is within walking and biking distance to many destinations, including restaurants, bars, coffee shops and Memorial Park. In addition to convenience, we are excited about the type of upscale, eco-friendly amenities that our Pearl brand provides. Residents can have it all at Pearl Washington.”

The community was co-developed with LCB Holdings, Inc., and Wells Fargo provided the construction financing.

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DALLAS, TX – The Federal Home Loan Bank of Dallas (FHLB Dallas) announced that, in partnership with its member financial institutions, it has awarded nearly $7.8 million in Affordable Housing Program (AHP) grants to 27 projects, primarily within its five-state District.

FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions. AHP funding is utilized for a variety of projects, including home rehabilitation and modifications for low-income, elderly, and special-needs residents; down payment and closing-cost help for qualified first-time homebuyers; and the construction of low-income, multifamily rental communities and single-family homes.

“FHLB Dallas’ member institutions are an integral part of affordable housing development in their communities,” said FHLB Dallas President and CEO Sanjay Bhasin. “Their membership in the Bank opens the door to the AHP and other grant programs that annually provide millions of dollars for housing in our District.”

The 2016 grants will result in the creation or rehabilitation of 1,499 housing units within FHLB Dallas’ District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas, as well as one state outside of FHLB Dallas’ District in which its members do business.

For more information about the 2016 AHP grants and other FHLB Dallas community investment products and programs visit fhlb.com.

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System made by Congress in 1932. FHLB Dallas, with total assets of $54.4 billion as of June 30, 2016, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.

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