Small, yet high-tech: How to make apartments affordable in cool parts of Fort Worth
Finding an affordable apartment in a cool part of Fort Worth can be a challenge.
Developers are finding new ways to make use of less space to keep rents down.
The latest example is a seven-story building known as Ramble & Rose, at 105 W. Rosedale St. in Fort Worth’s popular Near Southside neighborhood.
Studio apartments start at $1,000, and feature “robotic furniture” such as “pocket closet” shelves that can be moved with the press of a button on an app. The moving shelves offer a way to convert a bedroom to a home office in seconds, developer Brian Crowell of Hudgins Companies said.
“Being able to re-purpose that space, it regained us back 40 or 50 square feet. It’s like living in a 600-square foot apartment paying for 520 square feet,” he said. “That’s $150 a month (in rent savings), and for some people that can make or break a deal.”
Construction was just completed on Ramble & Rose, and leasing is under way, Crowell said. Rents can be as high as $2,550 a month for the two largest two-bedroom apartments, he said, but most of the units are smaller and are being marketed to the medical technicians, gig economy workers, nurses and other people who frequent the Near Southside and are looking for affordable housing close to their jobs.
Despite high unemployment and widespread economic uncertainty during the pandemic, Fort Worth’s apartment rental rates have remained steady.
Citywide, the median cost of a one-bedroom apartment is $953 and a two-bedroom is $1,126, according to apartmentlist.com. That’s 1.8% lower than in October of last year.
Nationally, apartment rents in October are 2.2% below the same month a year ago.
Near Southside Inc., a nonprofit organization, is working to ensure the area just south of Interstate 30 and west of I-35W evolves with a mix of luxurious and inexpensive housing.
The group has promoted bike-friendly apartments such as the complex at Cleveland Avenue and South Main Street.
Generally, apartment buildings on the Near Southside aren’t required to have a minimum number of parking spots per unit. That policy helps ensure the area doesn’t become slathered with asphalt.
The Near Southside also encourages murals and other public art on its properties.
At Evans Avenue and East Oleander Street, a structure is made of repurposed shipping containers.
Near Southside Inc. also works with Fort Worth Housing Solutions, which is the city’s housing authority, to encourage developers to set aside some of their units for low-income residents, in exchange for tax breaks.
