Representatives from the Federal Home Loan Bank of Chicago (FHLBank Chicago), Bay Bank, developer Pete King and 1822 Land & Development Company of Oneida, LLC (1822) joined local dignitaries on October 7 at the grand opening of Red Willow Flats, a new affordable housing development on tribal trust land in Oneida, Wis.

FHLBank Chicago awarded a $700,000 Affordable Housing Program (AHP) General Fund grant through member, Bay Bank to assist with construction.

“At Bay Bank, supporting the Oneida Nation has always been at the heart of our work,” said Jeff Bowman, President and CEO of Bay Bank. “Red Willow Flats demonstrates how AHP funding from FHLBank Chicago, combined with local leadership, can bring lasting housing opportunities to our community.”

Red Willow Flats features 35 high-quality, environmentally friendly apartments that provide safe, stable and affordable homes for the tribal community in Oneida. The development expands access to housing for essential workers who help sustain and strengthen the community, addressing critical housing needs in Northeastern Wisconsin.

“Red Willow Flats represents more than housing — it reflects the heritage and resilience of the Oneida community,” said Pete King, CEO of King Solutions and member of 1822 Land & Development Company. “Through strong partnerships and shared commitment, we’ve created a development that supports wellbeing today and for generations to come.”

Jess Grant-Domond, Senior Community Outreach and Engagement Specialist at FHLBank Chicago, and project developer Pete King, CEO of King Solutions and a member of 1822 Land & Development Company, at the grand opening of Red Willow Flats in Oneida Nation, Wisconsin, a development supported by $700,000 in Affordable Housing Program (AHP) funding from FHLBank Chicago through member Bay Bank.

King previously received grant funding through FHLBank Chicago’s Community First^® Developer Program, which provides funding to support career development for emerging affordable housing developers. That foundation, combined with AHP support that helped make Red Willow Flats possible, demonstrates how FHLBank Chicago’s programs work together to strengthen leaders and bring affordable housing projects to life.

“FHLBank Chicago’s investment in housing development – paired with capacity-building support for emerging developers – ensures that our commitment to affordable housing expands the supply not only today, but for years to come,” said Katie Naftzger, Senior Vice President and Community Investment Officer at FHLBank Chicago.

AHP grants subsidize the acquisition, new construction or rehabilitation of rental or owner-occupied housing. Delivered in partnership with FHLBank Chicago financial institution members, these forgivable grants help to address ongoing housing supply challenges by expanding access to quality affordable housing in many communities.

In 2024, FHLBank Chicago awarded $48 million in AHP General Fund grants to 35 affordable housing projects. The grants will help create over 1,300 new or rehabilitated housing units. FHLBank Chicago will announce 2025 grant awardees this fall.