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Fort Worth to consider adopting 15-year Cavile Place redevelopment plan

The 300-unit Cavile Place housing project in Southeast Fort Worth would be razed and replaced in phases, with a significant number of the units redistributed into the neighborhood.

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Residential land at Chisholm Trail Ranch purchased

Stratford Land, Legacy Capital Co. and the Walton Group of Cos. have snapped up 268 acres of residential land at Chisholm Trail Ranch in Fort Worth.

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Texas adds 19,100 nonfarm jobs in June; Fort Worth-Arlington jobless rate 5.3 percent

Seven of Texas' 11 major industry segments added jobs in June, the Texas Workforce Commission reported.

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Fort Worth payment processor acquired by pension plan group

Fort Worth-based First American Payment Systems has been acquired by an investor group led by the Ontario Teachers’ Pension Plan (Teachers’), with participation of members of the First American management team.

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Fort Worth council members approve Cavile Place redevelopment plan

The vote kicks off what officials say will be a 10-15-year implementation.

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City Council to consider tax breaks for Linwood apartment plan
 
A. Lee Graham
Reporter
 
The developer behind a $50 million apartment and townhome development plan could enjoy tax breaks if the Fort Worth City Council gives the nod.
The issue awaits possible action at this week’s regular council meeting. Pre-council begins at 8:30 a.m. Tuesday July 16, with the regular meeting starting at 10 a.m. at City Hall, 1000 Throckmorton St.
Plans call for constructing 21 townhomes facing Carroll Street and three- and four-story apartment buildings with 347 units in the Linwood neighborhood just west of Montgomery Plaza in the West Seventh Street corridor.
The city is expected to consider abating up to 70 percent in city property taxes on the incremental value of real property investment for a 10-year period. That would save Greystar Real Estate Partners LLC $1.9 million out of $2.7 million total taxes generated in those 10 years. Fort Worth would gain $827,893 in property tax revenue in that period.
About $200,000 in city permit fees would be waived, as well.

lgraham@bizpress.net

 

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