Fort Worth may push forward these affordable housing projects across the city
Fort Worth city leaders may this week endorse plans for several affordable housing developments across the city.
The stamps of approval would allow the projects’ developers to apply for coveted housing tax credits, federal tax write-offs designed to give landowners more financial leeway to offer discounted units to low-income tenants. Should the projects receive the tax credits, Fort Worth will waive up to $30,000 in development fees to help get the ventures off the ground.
Where are the developments, who is building them, and what do they promise?
Avenue at Lancaster
Brompton Development LLC, a Texas-based company with multi-family properties across the state, wants to build an 81-unit mixed-income apartment complex at 5733 Craig St., just off Lancaster Avenue, the project’s namesake. The project will cater to those 55 years and older, and at least 10% of the building’s units will be set aside for those making at most 30% of the area median income, according to the city.
Brompton is applying for a 9% housing tax credit (instead of the less competitive 4% alternative). The vacant site is within sight of a chicken shop, an auto repair store and single-family homes. The company will also need city council’s blessing to rezone the property from two-family to high-density multi-family use.
HiLine at Everman
Another mixed-income project named, in part, after its location, HiLine at Evernan promises roughly 84 rental units on a now empty tract of land just off the intersection of West Everman Parkway and Crowley Road. The developer, Dallas-based Generation Housing Partners LLC, is also seeking a 9% tax credit and, like Brompton, promises to reserve at least 10% of the building’s residences for folks earning at or below 30% of the area median income.
The property, encased by a gas station, a Family Dollar, a storage facility and a subdivision, will need to be rezoned. An older iteration of the proposal, tabled at a Feb. 11 city council meeting, pegged the building’s approximate unit count at 110.
HiLine at Risinger
Generation Housing Partners is seeking a 9% tax credit for another 110-unit building under the HiLine brand about three miles southwest, at the northwest corner of Risinger Road and McCart Avenue. The project, a five minute stroll from Crowley Middle School, will target seniors, setting aside at least 10% of its apartments for tenants making at most 30% of the area median income. The property, sharing fencelines with a subdivision and a Baptist church, also needs to be rezoned.
Irma Park
An Austin developer with dozens of apartment projects across the state wants to rework the offices and prayer rooms of a historic Baptist church in the north side into a roughly 82-unit apartment complex.
The 2.6-acre property, a site of worship since the early 20th century, is nestled in north side’s residential core, a short walk from Marine Park and the neighborhood public library. At least 10% of the new complex’s units will be set aside for those making at most 30% of the area median income.
Pioneer Crossing
Target Builders LLC, a developer with little public online presence, hopes to construct an 86-unit senior living center on a vacant tract along Everman Parkway. Target, like its peers, seeks a 9% tax credit and intends to reserve at least 10% of Pioneer Crossing’s units for those making at or below 30% of the area median income.
