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FHLB Dallas and Arvest Bank Celebrate the Grand Opening of Senior Housing Complex in Harrison, Arkansas, Helped by $1.5M Affordable Housing Grant

Business Wire

Upward Housing Group Received $1.5M Grant Toward Construction Costs

HARRISON, Ark., October 19, 2026--A $1.5 million Affordable Housing Program (AHP) grant from Federal Home Loan Bank of Dallas (FHLB Dallas), through Arvest Bank, helped support today's grand opening of Harrison Estates Senior Housing, the first affordable senior housing development in this area in more than a decade.

The 60-unit community located along Highway 123, Harrison Estates Senior Housing provides an infusion of affordable senior rental options in Boone County, where no or few vacancies have been available in recent years. The development includes one- and two-bedroom units, with 60 percent available to residents earning at or below 50 percent of the Area Median Income (AMI) and the remainder at or below 60 percent AMI.

The AHP grant, awarded to Upward Housing Group, provided essential gap funding for the development to make it to the finish line, said Matthew Darst, principal of Upward Housing Group.

"Harrison Estates Senior Housing represents the type of community impact we strive for," Mr. Darst said. "This development offers seniors a modern and affordable place to live with supportive programs that help them stay active, connected and independent."

The community's amenities include a clubhouse with flexible space for resident gatherings, a computer center with Wi-Fi, a book exchange and a laundry facility. Weekly programming will focus on wellness and community engagement, including financial literacy sessions supported by Arvest Bank.

"Arvest Bank is honored to support this important project with an FHLB Dallas AHP grant," said Virgil Miller, Arvest Group CRA director. "We are proud to partner with FHLB Dallas and Upward Housing Group in bringing more affordable housing to the Harrison community."

FHLB Dallas also underscored the significance of the project.

"AHP grants have allowed our members to strengthen housing opportunities throughout Arkansas," said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. "We're pleased to see this development come to life for local seniors."

AHP grants are awarded through FHLB Dallas member institutions such as Arvest Bank and assist in financing the purchase, construction and rehabilitation of housing for households earning at or below 80 percent of the median income for the area. FHLB Dallas awarded $73.5 million in AHP grants in 2025, and the 2026 AHP awards will be announced this month.

About Arvest Bank

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