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Bicycling, fitness center, rooftop bar coming to Clearfork's Trailhead

An 11,000-square-foot bicycling and fitness center is headed for the Trailhead at Clearfork on the Trinity River in west Fort Worth, Cassco Development said Wednesday.

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Glen Garden rezoning for distillery, attraction, goes forward on 7-2 Fort Worth council vote

Fort Worth Mayor Pro Tem W.B. "Zim" Zimmerman moved to approve the rezoning on a substitute motion, after Council member Kelly Allen Gray initially moved to deny the case.

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Will Rogers arena plan moves ahead on Fort Worth council's vote

City Council members voted unanimously on a resolution that says it supports a 50-50 public-private partnership for a new arena that also would pave the way to raze the city's Convention Center arena and replace it with modern meeting space.

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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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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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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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