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 # How Regions Is Helping Strengthen Communities From the Ground Up

 

##### Affordable housing is crucial in a vibrant, growing community. But in some places, it’s getting harder to find.

 

 

 Dec 21, 2023 11:00 AM ET

  ![Two images: a digital rendering of the finished housing project, and a large construction machine behind standing shovels in dirt.](/sites/default/files/styles/carousel_2x/public/images/tobiasplace_regions_121823.jpg) 

 

 ![Two images: a digital rendering of the finished housing project, and a large construction machine behind a group of six posed people.](/sites/default/files/styles/carousel_2x/public/images/affordablehousing_regions_121823.jpg) 

 

 

      

   ![Two images: a digital rendering of the finished housing project, and a large construction machine behind standing shovels in dirt.](/sites/default/files/styles/carousel_thumbnail_x2/public/images/tobiasplace_regions_121823.jpg?h=ad993f14)   ![Two images: a digital rendering of the finished housing project, and a large construction machine behind a group of six posed people.](/sites/default/files/styles/carousel_thumbnail_x2/public/images/affordablehousing_regions_121823.jpg?h=1c9b88c9) 

 

 

**By Jennifer Elmore**

**The Bottom Line**

Affordable housing is crucial.

But in many places, it’s getting harder to find.

So, the timing couldn’t be better for Regions Bank’s [Affordable Housing group](https://www.regions.com/commercial-banking/real-estate-banking/regions-affordable-housing#:~:text=Regions%20Affordable%20Housing%20finances%20the,multi%2Dinvestor%20or%20regional%20platforms.) to work with developers on opportunities like *this*.

**What’s New:**

It’s called Tobias Place – a development where hundreds of individuals and families will soon find their home.

But this is not an ordinary apartment complex. Yes, it features one-to-three-bedroom units. There’s the community garden, pond, playground and more.

What’s *different* is how it’s all designed to help people who call Fort Worth, Texas, home … to *continue* calling Fort Worth home.

Tobias Place is in the Hemphill neighborhood south of downtown. Community leaders are concerned about gentrification displacing longtime residents of the area, which is rich with Hispanic heritage. At the same time, there’s a need for more modern housing for elderly residents, recent college graduates and others.

With rents ranging from $400 to $1,000 per month, Tobias Place will fill the gap thanks, in part, to some collaboration from Regions Bank.

**Why it matters:**

People need access to high-quality, safe affordable housing. Communities need affordable developments to maintain the quality of life and support long-term growth.

Tobias Place is financed through federal housing tax credits, loans, grants and partnerships with the City of Fort Worth and Tarrant County entities. Regions provided an equity investment, a construction loan and a bridge loan. In addition, [Regions Real Estate Capital Markets](https://www.regions.com/commercial-banking/real-estate-banking/real-estate-capital-markets) supported the development with a permanent loan. Ojala Partners is the developer.

“Tobias Place is an example of what can be done when local government and the private sector work together to address a need,” said Rachel Thomas Phillips, a Regions Affordable Housing relationship manager. “We know affordable housing is critical to economic and community development, and the benefits are making a real impact in people’s lives. Our commitment to strengthening communities from the ground up is strong.”

> *Through collaboration with the bank’s Affordable Housing and Real Estate Capital markets teams, we’re delivering incredible results.”*
> 
> **Brian Happel, Fort Worth market executive for Regions Bank**

Phillips and her team attended the development’s recent groundbreaking. So, too, did [Brian Happel, Fort Worth market executive for Regions Bank](https://doingmoretoday.com/from-pro-football-to-the-corner-office/). Happel said the variety of financial solutions Regions made available to support Tobias Place reflects how the company takes a holistic approach toward meeting clients’ needs.

“Through collaboration with the bank’s Affordable Housing and Real Estate Capital markets teams, we’re delivering incredible results,” Happel said. “Communities in South Fort Worth are experiencing strong revitalization and population growth, and that make access to affordable housing more important now than ever. Our team carries great pride in seeing developments like Tobias Place come together.”

“This transaction represented a monumental effort by all parties involved, including our capital partners, elected officials at the city and county, city staff, and a coalition of actively engaged neighborhood groups and organizers,” said Daniel Smith, managing director at Ojala Partners. “We could not have pulled this off without the help of so many committed parties.”

For more on Regions Bank’s work in affordable housing, see links below.

- [Evoke Living at Morris Field](https://doingmoretoday.com/more-affordable-housing-regions-bank-charlotte-developer-unveil-new-initiative/)
- [Welcome Home](https://doingmoretoday.com/welcome-home-affordable-housing/)
- [Parmore Fossil Creek](https://doingmoretoday.com/more-affordable-housing-in-the-metroplex-regions-closes-on-new-construction-financing/)
- [Addressing an Urgent Housing Need in Brooklyn: Regions Bank Arranges Vital Financing for New Housing](https://doingmoretoday.com/addressing-an-urgent-housing-need-in-brooklyn-regions-bank-arranges-vital-financing-for-new-housing/)



 

 

 

 

 

 

 

 [![](/sites/default/files/Clients/Regions-Bank-Color-Logo-Square.jpeg)](/profiles/regions-bank)

 



 

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