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Fort Worth's new thoroughfare plan aims for more variety in street design

Fort Worth is launching a review of its master thoroughfare plan aimed at accommodating continued suburban growth and central city redevelopment with a greater variety of streets and more efficient traffic flow.

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Longtime Fort Worth businessman, philanthropist and preservationist Holt Hickman died Nov. 15, 2014, at the age of 82.

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A key linchpin in the Fort Worth economy, American Airlines Group Inc., is considering sites for a new headquarters, possibly outside the city, the airline’s CEO said this morning.

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Crestwood area hoping to block planned office building

Residents of West Fort Worth’s Crestwood Association are trying to block the rezoning of a small apartment complex at White Settlement Road and North Bailey Avenue to make way for a planned office building, saying it would represent the start of commercial encroachment into their neighborhood.

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Lennar boosts unsecured revolving credit facility to $1.5B
A. Lee Graham

Reporter

Lennar Corp., whose homebuilding projects include Sendera Ranch in Haslet north of Fort Worth, has increased its unsecured revolving credit facility from $950 million to $1.5 billion and extended the credit facility's maturity to June 2018.

Included in the $1.5 billion is a $263 million accordion feature, subject to additional commitments. 

"We are pleased with the increase in our revolver, which will provide greater financial flexibility and additional liquidity to fund our strategic growth plans,” said vice president and Chief Financial Officer Bruce Gross in a news release.

Amounts borrowed under the credit facility accrue interest at alternative rates based on leverage, the range of which the company described as Eurodollar Rate plus a margin equal to 1.75 percent to 2.25 percent. Proceeds available under the credit facility may be used for working capital and general corporate purposes.

The credit agreement has multiple lenders led by JPMorgan Chase Bank, N.A., acting as administrative agent. Other lenders are Citibank, N.A.; The Royal Bank of Scotland PLC; Bank of America, N.A.; Deutsche Bank AG New York Branch; Royal Bank of Canada; Bank of Montreal; PNC Bank, National Association; UBS AG, Stamford Branch; Wells Fargo Bank, National Association; HSBC Bank USA; Texas Capital Bank, N.A.; TD Bank N.A.; California Bank & Trust; Comerica Bank; Regions Bank and Capital Bank, N.A.

Amounts borrowed under the agreement are guaranteed by some company subsidiaries.


Miami-based Lennar Corp. builds move-up and retirement homes primarily under the Lennar brand name. Its Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of the company's homes and others. More information is available at www.lennar.com.

lgraham@bizpress.net

 

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