Fort Worth Housing Solutions and Trinity Metro are collaborating to develop Fort Worth’s first transit-oriented apartment property in the up-and-coming South Main neighborhood.
Half the 236 units at the 10-story Katy Lofts will be workforce housing; the other half market-rate. A TEXRail line will whoosh workers to DFW Airport in about 50 minutes. A daycare facility and shops are envisioned for the first floor, with a parking garage next door and later, a hotel. RMGM, an affiliate of Matthews Southwest, will be the developer. The project received a 4% Low-Income Housing Tax Credit award from the Texas Department of Housing and Community Affairs.
Fort Worth Housing Solutions and Palladium broke ground in April, 2018 on what will become a beautiful, mixed-income, 150-unit development in West Fort Worth. The multi-family property will feature 15 Rental Assistance Demonstration (RAD) units. Fifteen families who currently live at Butler Place will relocate to Palladium and join more than 100 other working families to make it their home once the property opens in 2019.
Through RAD, the U.S. Department of Housing and Urban Development (HUD) is allowing Fort Worth Housing Solutions to convert its public housing portfolio and redistribute the subsidized units into mixed-income properties like Palladium Fort Worth. In a phased approach, we are gradually relocating Butler residents due to the significant capital improvements associated with Butler’s aging buildings and to deconcentrate poverty in Fort Worth.
Southeast Fort Worth will gain 204 new affordable apartment units when Stallion Ridge opens. A gated community, it will be built to LEED certified standards by LDG Development, which also built the nearby Stallion Pointe Apartments.
Affordable proposed rents will range from $558 to $1,472 monthly. Eleven of the units will be market rate and 26 units will be set aside for the Rental Assistance Demonstration (RAD) program. Amenities will include an attractive clubhouse, both theater and exercise rooms, a computer lab, community pool, playground, and health and wellness classes.
Also under construction is a 224-unit community near Tarrant County College’s South Campus and the Fort Worth Vet Center at 4651 Campus Drive. Situated on about 13 acres, Campus Apartments will offer a mix of affordable and market-rate apartments. A total 95 percent of the units will be offered at affordable rent rates, and this includes 10 percent for the Rental Assistance Demonstration (RAD) program.
AMTEX Development is developing the property. AMTEX has partnered with Fort Worth Housing Solutions on four projects to date: Campus Apartments, Avondale, Harmon Senior Villas and Alton Park. Each will include Rental Assistance Demonstration (RAD) units and Section 8 Project-Based Voucher (PBV) units.
Harmon Senior Villas
Located at 12801 Harmon Road in North Fort Worth, this property will be a three-story residential community for seniors. It will house about 160 one- and two-bedroom apartments in two buildings. Nine percent of the units (15 total) will be set aside for the Rental Assistance Demonstration (RAD) program and 10 percent will be rented at market rate. The remaining units will be available at affordable rental rates.
Situated on about nine acres, the property will feature such amenities as a club house, pool, fitness center, business center and game/community room. A gazebo and gated entry are additional features. The expected completion date is late 2018.
Alton Park is a mixed-income property under construction at 5650 Azle Avenue. Situated on 11 acres, the three-story community will feature 195 units with both market and affordable rates. Eighty-five percent of the units will be reserved for individuals and families earning no more than 60 percent of the area median income (AMI). A typical salary for an equipment operator in the City of Fort Worth is about $31,000. He/she would be eligible for an affordable two-bedroom unit that will rent for $937 (assuming $31,000 is the total household income). Rental rates for the affordable units will range from $781 for a one-bedroom to $1,083 for a three-bedroom apartment.
Nineteen of the units will be reserved for the Rental Assistance Demonstration (RAD) program. Learn more about RAD, a program that is providing Fort Worth Housing Solutions the means to de-concentrate its public housing developments into more vibrant, mixed-income and mixed-use neighborhoods. AMTEX Development is building Alton Park.