The Federal Home Loan Bank of Pittsburgh announced that its Board of Directors has approved a combined $90.2 million in housing-related funding for 2025, allocating $61.3 million through its Affordable Housing Program and an additional $28.9 million through its voluntary housing grant initiative. The funding is expected to support 75 housing projects and help create or preserve 1,823 homes for very low-income, low-income, and moderate-income individuals and families across the region.
The approved funding covers 53 rental developments and 22 homeownership projects, reflecting a broad approach to addressing housing affordability and stability. The projects are designed to serve diverse populations, including people experiencing homelessness, individuals with disabilities, youth aging out of foster care, military veterans, and seniors. By targeting a wide range of housing needs, the bank aims to strengthen community infrastructure and improve long-term housing access in the areas it serves.
According to the bank, the 75 projects receiving awards were developed in partnership with local organizations and supported by 30 member financial institutions. These collaborations are intended to align private and community resources to expand affordable housing supply and improve outcomes for underserved populations.
FHLBank Pittsburgh is one of 11 Federal Home Loan Banks established by Congress and provides funding and liquidity to member institutions, including commercial and savings banks, community development financial institutions, credit unions, and insurance companies. Its membership spans Delaware, Pennsylvania, and West Virginia. Through its housing programs and financial products, the bank plays a central role in supporting community lending, housing development, and broader economic growth throughout its district.
A full list of the 2025 Affordable Housing Program and voluntary housing grant initiative awards is available through the bank’s website.
KEY QUOTES:
“Creating affordable housing supply has been a long-standing priority for FHLBank and our members. I’m proud of our cooperative’s ability, this year, to provide $90.2 million supporting more than 1,800 affordable homes. Our 2025 commitment to housing stability includes a voluntary contribution of nearly $30 million in addition to our statutory AHP.”
David G. Paulson, President And Chief Executive Officer, Federal Home Loan Bank Of Pittsburgh
