Join The Discussion

 

Fort Worth's TPG takes controlling interest in Hollywood, sports powerhouse

A Fort Worth firm has gone Hollywood.

read more >

Downtown Fort Worth TIF reaches parking agreement with four garages

The TIF board will meet Oct. 29 to consider the agreements.

read more >

Oil price drop goes unnoticed in Texas' Eagle Ford shale

CUERO, Texas — From her vantage point of the U.S. shale oil boom, Jill Potts doesn't see anything to worry about.

read more >

Renovated Daniel-Meyer to put TCU basketball in the spotlight

You might say the Texas Christian University men’s basketball team was the sacrificial lamb in the university’s football-motivated move from the Mountain West Conference to the Big 12 Conference. The rising

read more >

E-Mist finds focus: Ebola gives infection control start-up its moment in spotlight

In the space of 72 hours, George Robertson found his company’s products on the cover of The New York Times and himself on CNN and WFAA, along with innumerable mentions in various media around the world.

read more >

Historic Fort Worth building refurbished

Barbara Hulston, former director of the Fort Worth Housing Authority, officially opened an 18-unit apartment development in the former Knights of Pythias building. Photo by Scott Nishimura

snishimura@bizpress.net

The Fort Worth Housing Authority on June 4 officially opened an 18-unit apartment development in the hull of the historic Knights of Pythias community hall in downtown’s Hillside.
The opening of the13,228-square-foot development, which includes 10 affordable-rate and eight market-rate apartments, helps fill in a hole in the downtown map and its residential inventory, according to representatives of the Fort Worth Housing Authority and other housing officials.
“This is just a small dent in the need,” said Barbara Hulston, the Housing Authority CEO who recently retired.
“But what’s significant about this is the affordability downtown. There’s not a lot of affordability downtown.”
Quadco Management Solutions began leasing the property Feb. 27, and it has one vacancy left: a two-bedroom, one-bath, 845-square-foot market rate unit for $1,900.
Four of the market-rate units in the complex are 745 square feet and rent for $999. The Housing Authority pays for water; tenants pay other utilities. The apartments come with complete appliance packages, including washers and driers.
The affordable rent apartments are targeted at people who make 80 percent of area median income.
The Fort Worth developer Phillip Poole held the property and envisioned four condominiums with parking, but he wasn’t able to get it financed, so he sold the property to the Housing Authority.
“The Housing Authority had the funds, could step in,” Poole said during Wednesday’s opening. “They’ve done an outstanding job.”
The Housing Authority borrowed $950,000 from the city through Community Development Block Grant money, and $1.5 million from CommunityBank of Texas, and it doubled the original building footprint in the redevelopment.
The 87-year-old building had been vacant and deteriorating for years.
 

< back

Email   email
hide
Ebola
How worried are you about Ebola spreading?