Fort Worth, August 13, 2025
News Summary
The Fort Worth City Council has approved a resolution that allows Royal Capital, LLC to apply for housing tax credits aimed at enhancing affordable housing developments in Historic Southside and Renaissance Heights. This unanimous decision paves the way for over 180 mixed-income housing units, potentially revolutionizing local housing options amidst an ongoing crisis. The project promises to foster a vibrant community with essential retail spaces and necessary amenities, targeting families earning below the area’s median income. The city allocated significant funding to support these developments and is strategizing to tackle the pressing affordable housing challenges faced by residents.
Fort Worth City Council Approves New Affordable Housing Initiatives
The Fort Worth City Council has unanimously approved a resolution aimed at applying for housing credits, paving the way for a new affordable housing development in the city. The development, spearheaded by Milwaukee-based Royal Capital, LLC, will apply for the 2025 Non-Competitive (4%) Housing Tax Credits through the Texas Department of Housing and Community Affairs. This funding is crucial for the proposed Evans and Rosedale Urban Village located in Fort Worth’s Historic Southside neighborhood.
The council’s approval is essential as Royal Capital required a Resolution of No Objection to move forward with the tax credits application. These housing tax credits provide investors an opportunity to decrease their federal income tax liabilities, thus encouraging private investment in affordable housing projects.
The unanimous council vote allows the application process to progress, following the termination of the city’s previous partnership with Dallas-based Hoque Global in August. Subsequent to this decision, plans for the urban village were unveiled in December, highlighting a vibrant, mixed-income community.
This six-acre development is set to deliver over 180 units, which will include one-, two-, and three-bedroom housing options. Plans for the urban village show a focus on creating a walkable community with ample green spaces and 15,700 square feet for retail or office space to support local businesses and social activities, particularly for children. Notably, at least 3,000 square feet will be reserved for an urban grocer, ensuring access to fresh food.
The development targets individuals and families earning at or below 80% of the area’s median income, with an overall average set at 60%. The city’s commitment to this project was strengthened by allocating $13.2 million in grants in 2021 towards its construction. A significant portion, about $4.2 million, is drawn from the American Rescue Plan Act, with a deadline for utilization by the end of 2024.
The Historic Southside neighborhood, recognized as one of Fort Worth’s oldest African American neighborhoods, faces significant challenges. A 2019 study revealed that residents in the 76104 ZIP code have the lowest life expectancy in Texas, averaging just 66.7 years. The urban village is aimed at stimulating rejuvenation in the area, aligning with the upcoming National Juneteenth Museum slated to open in 2027.
In tandem with this development, the City Council has also approved the rezoning of 15 acres along West Drew Street and McCart Avenue to facilitate a community land trust and redevelopment. This new zoning will allow for areas designated as urban residential to function as buffers between industrial and residential sectors.
This extensive rezoning includes a mix of industrial enterprises, schools, and both commercial and residential spaces, all intended to tackle affordable housing issues and enhance neighborhood stability. The land trust model retains ownership of the land while allowing individuals to purchase homes, thus reducing overall home costs.
Data shows that there is a profound issue with affordable homeownership in Fort Worth, especially impacting Black and Hispanic families. In 2024, Fort Worth’s median income stands at $77,082, but this is considerably lower for Black and Hispanic families, at $55,317 and $68,874 respectively.
The land trust initiative aims to collaborate with Fort Worth’s Housing Channel to develop 200 homes, including 145 new constructions and 55 renovations. Initial construction for these homes is projected to commence in late spring or early summer 2025, with the first homes anticipated to be ready by September 2025.
Meanwhile, the recently opened Clifton Riverside Apartments address the pressing affordable housing crisis in North Texas. Available rents range from $485 to $1,800, reflecting a high demand for affordable housing options. Of the 94 units, 79 are specifically set aside for tenants earning 30% to 60% of the area median income.
The city’s financial backing for the Clifton Riverside project amounts to $1 million through the Fort Worth Housing Finance Corporation, augmenting a total of $1,725,000 in Low-Income Housing Tax Credits secured for ten years, leading to over $15 million generated in equity from JP Morgan Chase.
Furthermore, the city has also allocated $8 million for the next phase of affordable housing in Renaissance Heights. This development is expected to finalize the housing segment of the Renaissance Heights Masterplan, which comprises mixed-use developments and community services. Construction for this part of the project is anticipated to initiate in February 2025 and extend over a period of 18 months.
The overall objective is to create housing options while enhancing economic opportunities for residents residing in Southeast Fort Worth.
FAQ Section
What is the purpose of the new affordable housing initiatives in Fort Worth?
The initiatives aim to provide affordable housing options for individuals and families, especially targeting those at or below 80% of the area’s median income.
What is the Evans and Rosedale Urban Village?
This is a proposed six-acre affordable housing development in Fort Worth’s Historic Southside, featuring over 180 mixed-income housing units along with community amenities.
How will the affordable housing development be funded?
The development will be funded through Housing Tax Credits, city grants, and other financial support mechanisms.
What are the expected benefits of the community land trust?
The land trust will help reduce home costs, address affordable housing issues, and promote neighborhood stability by retaining ownership of the land while allowing individuals to purchase homes.
When can residents expect the first homes to be available?
The first homes from the land trust development are anticipated to be ready by September 2025.
Key Features of the Affordable Housing Initiatives
| Feature | Description |
|---|---|
| Evans and Rosedale Urban Village | A six-acre affordable housing project with over 180 mixed-income units. |
| Funding Sources | Includes housing tax credits, city grants, and private investments. |
| Community Land Trust | A model to reduce home costs and provide stability by retaining land ownership. |
| Opening Date of First Homes | Expected by September 2025. |
| Renaissance Heights Development | A future affordable housing project aimed at creating economic opportunities. |
Deeper Dive: News & Info About This Topic
Additional Resources
- Star-Telegram: Fort Worth City Council Approves Affordable Housing Initiatives
- Wikipedia: Affordable Housing
- CBS News: Luxury Apartment Building in Fort Worth Aims to Reimagine Affordable Housing
- Google Search: Fort Worth affordable housing initiatives
- NBC DFW: Fort Worth’s Renaissance Heights Neighborhood Affordable Housing
- Google Scholar: Fort Worth affordable housing
- Star-Telegram: Additional Development in Fort Worth
- Encyclopedia Britannica: Affordable Housing
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