A developer plans to build 240 apartments in Bedford although many residents say they don’t want more multifamily housing in the city.
Realty Capital announced in a news release that the company purchased 8.07 acres from Total EP USA Real Estate. The purchase price was not available.
Realty Capital will build the apartments in Bedford Commons, one of the few vacant parcels of land left in the city. The land is already zoned for multifamily housing.
“We have worked tirelessly with the city of Bedford for over three years to create a high-quality residential project that is consistent with the city’s ‘Bedford Commons’ vision. Owning the land allows us to continue that effort,” Tim Coltart, managing director of Irving-based Realty Capital, said in a written statement.
The 240-unit complex will feature open spaces and a public trail system, according to the news release. The apartments will lease at market rate.
Realty Capital submitted a site plan to the zoning commission for approval.
A vocal citizens group, Save Bedford Texas opposes the plans for the apartments saying that there are bettter uses for the land. The group also circulated petitions to change Bedford’s zoning ordinance and also to recall mayor Jim Griffin because of his support for the apartment project and because of his “lack of leadership.”
In the statement, Coltart said Realty Capital has tried to work with residents, but they could not come up with an agreement concerning apartments.
“We understand the discontent our plans have caused amongst some adjoining residents and we have presented numerous plans to accommodate their concerns, including some with a single-family transition to their neighborhood. With the neighboring home owners association unwilling to collaborate, we have no choice but to move forward with a plan that complies with the existing ordinance designed and approved by Bedford City Council.”