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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Hulen Pointe Shopping Center sold

Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price.

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Ski Grand Prairie? TCU, UTA grad helping bring snow to Metroplex

For Levi Davis last week may have been a career peak, in more ways than one.

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Renaissance Square apartment development gets boost from housing board vote

By Scott Nishimura
snishimura@bizpress.net

The Fort Worth Housing Finance Corp. on Tuesday approved a $1.3 million, five-year loan to aid the development of a 140-unit apartment community at the Renaissance Square development in southeast Fort Worth.

The board - the full Fort Worth City Council - voted unamimously, after a motion by member Kelly Allen Gray, whose council district includes Renaissance Square.

The city staff recommended approval of the loan, which carries an interest rate of the lower of 1 percent of an applicable federal rate. The loan is subordinate only to the overall permanent financing for the project, Jay Chapa, HFC’s assistant general manager, told the board.

Development cost for the project, to be developed by Columbia Residential of Atlanta, is estimated at $20 million, Chapa said. 

The community will have 112 affordable-rent apartments and 28 market-rate ones. It’s the first residential component to come off the drawing board for the mixed-use development at East Berry Street and U.S. 287, launched with the opening of a Walmart store.

“What we’re going to see is a different level of affordable housing,” Council member Gyna Bivens said.

Rod Teachey, Columbia vice president of development, said Columbia is waiting for approval of a 9 percent tax credit allocation from the state before it breaks ground.

It expects to hear in July, Teachey said. If it gets that, ground-breaking would likely be in the first or second quarter next year, Teachey said. 

Columbia develops and manages affordable housing communities.
 

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