The Lake Worth area could see a new mixed-income apartment complex built after the Fort Worth City Council, acting as the Housing Finance Corp., on Tuesday approved granting $3.5 million to a developer to build affordable apartments.
The 15-acre site, to be located on Quebec Street near Loop 820 in northwest Fort Worth and built by the Miller-Valentine Group, would have 230 units, with up to 30 of those units being permanent supportive housing units.
The city is in need of permanent supportive housing units, which includes wrap-around services for the nation’s hardest-to-house individuals, such as social services, healthcare assistance and transportation.
The City Council created a permanent supportive housing task force in August, which is looking for creative ways to fund more permanent supportive housing in the city.
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The apartment complex, The Reserve at Quebec, would also have 16 market-rate apartments, and the remainder of the one-, two- and three-bedroom units would rent to people at 80 percent or below of area median income.
The $3.5 million grant money will come from the city’s federal HOME funds from the U.S. Department of Housing and Urban Development; the Housing Finance Corp. will own the land the project is located on. The Miller-Valentine Group will manage the apartments. The Miller-Valentine Group is also seeking state tax credits.
The Housing Finance Corp. will provide the permanent supportive services to the residents.
Caty Hirst, 817-390-7984