Jump to content


Photo
- - - - -

Possible Mixed Use Project at S. Main & Vickery

Fort Worth South TOD Transit Oriented Development The T Fort Worth Housing Authority

  • Please log in to reply
124 replies to this topic

#1 John T Roberts

John T Roberts

    Administrator

  • Admin
  • PipPipPipPipPipPipPip
  • 16,367 posts
  • Gender:Male
  • Location:South Fort Worth
  • Interests:Architecture, Photography, Bicycling, Historic Preservation

Posted 16 August 2014 - 10:03 AM

The Fort Worth Business Press reports that The "T", The Fort Worth Housing Authority, The City of Fort Worth, and Fort Worth South are going to start exploring the possibilities of constructing a mixed-use project on the parking lot immediately south of the T&P Station.  This project will have mostly a residential component, but it will feature ground floor retail that will serve transit riders and the neighborhood.  In addition to this, the project will replace and add to the amount of parking provided for TRE riders. 

 

http://fwbusinesspre...dP-Station.aspx



#2 RD Milhollin

RD Milhollin

    Member

  • Members
  • PipPipPipPipPipPipPip
  • 2,945 posts
  • Gender:Male
  • Location:Las Vegas, NV

Posted 16 August 2014 - 11:54 AM

This might be a good starting point for a privately financed streetcar route. Perhaps Fort Worth South, Inc. could put together a consortium of businesses and developers working in the Southside...



#3 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 16 August 2014 - 03:40 PM

I'm trying to figure out what the extent of the lot is. The entire thing seems to be bigger than 2.1 acres. I'm also wondering if that fenced in power station currently on the corner will be removed/replaced. 

 

Either way it's an awesome little bit of news. I would love it to be 10 floors, not for the height but for the density it would provide with immediate access to the TRE. I suspect a garage will be included, both for TRE riders and residents of the building. 

 

All 4 corners of that intersection are empty currently. It's in bad shape. 



#4 Dylan

Dylan

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 2,346 posts
  • Gender:Male
  • Location:Suburbia

Posted 16 August 2014 - 09:01 PM

Oh look, urban redevelopment can happen next to freeways.

 

It sounds like park and ride passengers will have to do a lot more walking, but this plan sounds good otherwise.


-Dylan


#5 RD Milhollin

RD Milhollin

    Member

  • Members
  • PipPipPipPipPipPipPip
  • 2,945 posts
  • Gender:Male
  • Location:Las Vegas, NV

Posted 16 August 2014 - 09:16 PM

Oh look, urban redevelopment can happen next to freeways.

 

It sounds like park and ride passengers will have to do a lot more walking, but this plan sounds good otherwise.

 

It hasn't happened yet, but I think the point is that is that it can happen next to RAILROAD TRANSIT. There is not real good access to the I-30 highway right there. The final mix of market to sub-market units hasn't been determined yet either, but the presence of the interstate right there might result in a more subsidized units that is being called for at this point.



#6 renamerusk

renamerusk

    Skyscraper Member

  • Banned
  • PipPipPipPipPipPipPip
  • 7,662 posts
  • Gender:Male
  • Location:Fort Worth South

Posted 17 August 2014 - 11:13 AM

 

Oh look, urban redevelopment can happen next to freeways.

 

It hasn't happened yet, but I think the point is that is that it can happen next to RAILROAD TRANSIT. There is not real good access to the I-30 highway right there.

 

Whenever the FWTA is a partner, my hackles are raised; never has it met a commuter rail study that it did not like.

 

Questions that come to mind immediately -

 

Where is the TOD in Richland Hills, Hurst or ITC?  It woiuld be great if the FWTA actually did somethings with results at these stations which would make this propose workshop matter?  Why would someone living in the CBD need a commuter rail; isn't the concept more that the suburbs should be the site for TOD?  How many residents (%) actually chose T&P residents because it is a TRE terminal?

 

Putting a commuter rail TOD in the CBD is like putting a cart ahead of the horse; it does not make any sense to me.  Unfortunately, I believe that this will simply amount as yet another meaningless study, waste of time and waste of resources.



#7 mmiller2002

mmiller2002

    Elite Member

  • Members
  • PipPipPipPipPipPip
  • 965 posts
  • Gender:Male
  • Location:North Hi Mounttttt
  • Interests:Born 1959
    HS Grad 1977
    1982 BSEE Penn State

Posted 17 August 2014 - 10:28 PM

Can we let the current plethora of mixed-use developments actually complete and fill-up before we spend tax money on more?



#8 BlueMound

BlueMound

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 1,260 posts

Posted 26 August 2014 - 08:53 PM

$60 million mixed use project proposed for Victory at South Main
http://www.star-tele...sp=/99/189/228/

#9 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 26 August 2014 - 10:52 PM

The FWBP article has a bit more info. 10 stories. That's pretty impressive. Lot's of good ideas to, like using the parking lot to elevate views, and what sounds like a green roof. 

Still at least a year from construction though... Gotta love that waiting game!

 

btw does anyone know if the presentation will be put online someplace?



#10 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 25 September 2014 - 07:59 AM

ScottTRE2-mobile.jpg

Guessing

Red=Retail

Gray=Garage

Tan=Residents 



#11 JBB

JBB

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 7,421 posts
  • Gender:Male
  • Location:Dirty suburbs

Posted 25 September 2014 - 08:01 AM

Rough rendering, but certainly interesting. Something like that would be great for the neighborhood. I would love to finally see the old gym building renovated.

#12 Jeriat

Jeriat

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 4,064 posts
  • Gender:Male
  • Location:SWFW

Posted 25 September 2014 - 08:53 AM

I would love to finally see the old gym building renovated.

 

With this built across the street, that gym would get a renovation in a heartbeat.


7fwPZnE.png

 

8643298391_d47584a085_b.jpg


#13 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 26 September 2014 - 03:41 AM

Another shot from Scott Nishimura, shows that the building won't come up to S. Main. 

 

vHOah9w.png



#14 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 01 June 2015 - 10:04 PM

Stumbled across this, not sure how accurate or set in stone any of it is, but worth sharing I figure. 

 

ANw8aCY.png



#15 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 19 February 2016 - 11:46 PM

Been a while, but sounds like this is still stirring. Scott Nishimura reporting,

 

 

 

Among other projects highlighted was the proposed Fort Worth Housing Authority mixed-use, mixed-income project on the T transit parking lot at West Vickery Boulevard and South Main Street. The Housing Authority, with architect Bennett Benner Partners, continues to work on drawings for the residential and commercial project, which also now has a potential hotel in the mix. 


#16 Jeriat

Jeriat

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 4,064 posts
  • Gender:Male
  • Location:SWFW

Posted 20 February 2016 - 12:54 AM

I can see that entire row along I-30 lined with mid to high rise mixed use buildings.


7fwPZnE.png

 

8643298391_d47584a085_b.jpg


#17 RD Milhollin

RD Milhollin

    Member

  • Members
  • PipPipPipPipPipPipPip
  • 2,945 posts
  • Gender:Male
  • Location:Las Vegas, NV

Posted 20 February 2016 - 10:08 AM

Another shot from Scott Nishimura, shows that the building won't come up to S. Main. 

 

 

There is an existing electrical service facility, a "sub-station" at that corner. It would have to be relocated for the proposed development to be built up to South Main Street; certainly possible, but expensive. Maybe as the density of development in the area continues to increase a plan can be devised to gradually replace overhead power lines with underground infrastructure. Doing this as streets are being rebuilt, and in conjunction with replacement of gas, water, sewer, and communications lines, and even streetcar tracks on selected streets would make the best economic sense overall.



#18 Jimmy

Jimmy

    Senior Member

  • Members
  • PipPipPipPip
  • 257 posts
  • Gender:Male
  • Location:76116

Posted 18 March 2016 - 09:56 PM

A rendering of this project that I had not previously seen can be viewed in THIS VIDEO.  Skip to the 3:45 mark.



#19 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 18 March 2016 - 10:41 PM

Driving through this and the T&P building down 30 is going to be cool. 

 

vickeryampmain_zpskywh6mem.png

 

This also got mentioned in an FWBP article recently

 

 

Other plans include ... ambitious plan for the development and construction of a transit-oriented development project at Vickery and South Main streets in partnership with the city, the Fort Worth Transit Authority and Near Southside Inc.

For that transit-oriented development project, Housing Solutions is finishing designs on what will be more than 230 apartments, a parking garage both below and above grade, possibly a boutique hotel and improved connections to downtown.

The agency is working with Bennett Benner Partners on the plans.

“I think we’re close to finishing the design and getting draft construction numbers, so we can see what our funding gap is,” said Byrne.

Ground could be broken as early as 2017, she said.

“Everyone’s excited about this project,” she said. “It’s a bigger project than ones we’ve done in the past, but it’s the next logical step

 

http://www.fortworth...d488466c04.html



#20 johnfwd

johnfwd

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 3,288 posts
  • Gender:Male
  • Location:southwest
  • Interests:Running, bicycling, bowling, nightclub life, science, technology.

Posted 23 June 2016 - 01:15 PM

Here's an update on this project in an article in Fort Worth Business.  The project is going to get taller.  Is this a change from the art rendering in Post#19?

 

 

http://www.fortworth...532909b6c0.html



#21 JBB

JBB

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 7,421 posts
  • Gender:Male
  • Location:Dirty suburbs

Posted 23 June 2016 - 01:58 PM

Looks to me like that rendering already has 12 floors.

#22 renamerusk

renamerusk

    Skyscraper Member

  • Banned
  • PipPipPipPipPipPipPip
  • 7,662 posts
  • Gender:Male
  • Location:Fort Worth South

Posted 23 June 2016 - 03:37 PM

Hotel and Rail to and from the Airport - a  great winning combination if TEXRail turns out to be a 7-day service.



#23 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 23 June 2016 - 03:37 PM

Yeah, we've known for a little while now it will have 12 floors. Good to see an update though. This is a big project that should really benefit a lot of things (S. Main, Vickery, and Lancaster could all see a nice boost, in addition to benefiting rail riders)

 

AND a 10 story hotel! very cool.



#24 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 11 August 2016 - 07:21 PM

The main building will be 156 feet tall, which would tie it for 50th tallest in the city with the 102 year old Burk Burnett building according to the tallest list here on the site



#25 RD Milhollin

RD Milhollin

    Member

  • Members
  • PipPipPipPipPipPipPip
  • 2,945 posts
  • Gender:Male
  • Location:Las Vegas, NV

Posted 11 August 2016 - 08:25 PM

Should the grain elevators be included in a list of tallest BUILDINGS? Structures? Absolutely, but are they appropriately classified in the same group as office buildings, hotels, residences, hospitals, and the like? (civic vertical inflation? :swg: )



#26 John T Roberts

John T Roberts

    Administrator

  • Admin
  • PipPipPipPipPipPipPip
  • 16,367 posts
  • Gender:Male
  • Location:South Fort Worth
  • Interests:Architecture, Photography, Bicycling, Historic Preservation

Posted 11 August 2016 - 08:52 PM

They do read as "buildings" in skyline shots and they do have multiple floors.  Antennas certainly don't have the substance that the elevators have.



#27 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 04 May 2017 - 06:19 PM

Additional renderings and info from BBPTX

 

 

Thumbnail.jpg

 

burcKNh.jpg



#28 JBB

JBB

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 7,421 posts
  • Gender:Male
  • Location:Dirty suburbs

Posted 04 May 2017 - 08:51 PM

That looks great. It will completely change the look of that area.

#29 rriojas71

rriojas71

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 2,496 posts
  • Gender:Male
  • Location:Belmont Terrace - Historic North Side
  • Interests:Real Estate, RE Development, Geography, Team Sports, Restaurants, Urban Exploring, Gaming, Travel, History

Posted 04 May 2017 - 09:32 PM

Yes please. When does this get started?... hopefully yesterday. :)

#30 renamerusk

renamerusk

    Skyscraper Member

  • Banned
  • PipPipPipPipPipPipPip
  • 7,662 posts
  • Gender:Male
  • Location:Fort Worth South

Posted 04 May 2017 - 10:33 PM

Additional renderings and info from BBPTX


burcKNh.jpg

 

  Are there plans for the use of Vickery Gym?



#31 rriojas71

rriojas71

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 2,496 posts
  • Gender:Male
  • Location:Belmont Terrace - Historic North Side
  • Interests:Real Estate, RE Development, Geography, Team Sports, Restaurants, Urban Exploring, Gaming, Travel, History

Posted 05 May 2017 - 01:40 AM

Additional renderings and info from BBPTX
burcKNh.jpg

 
  Are there plans for the use of Vickery Gym?

Good question renamerusk... I really like that structure. Every time I drive by it I think it needs to be repurposed or renovated to a public/community type center or event space

#32 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 05 May 2017 - 05:20 PM

 

Are there plans for the use of Vickery Gym?

 

 

Last mention of it was in 2015 and owner was looking into an event venue. Here's the thread.



#33 Jimmy

Jimmy

    Senior Member

  • Members
  • PipPipPipPip
  • 257 posts
  • Gender:Male
  • Location:76116

Posted 07 May 2017 - 08:20 PM

Looks like the president of Fort Worth Housing Solutions was fired last week.  Wonder if and how that will effect this project.



#34 johnfwd

johnfwd

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 3,288 posts
  • Gender:Male
  • Location:southwest
  • Interests:Running, bicycling, bowling, nightclub life, science, technology.

Posted 09 May 2017 - 09:44 AM

Looks like the president of Fort Worth Housing Solutions was fired last week.  Wonder if and how that will effect this project.

 

Having read the article carefully, you have a good question about this particular project.  Apparently Ms. Byrne was a strong proponent of affordable housing for low-income families.  But that, I gather, is also the objective of Fort Worth Housing Solutions (formerly the Fort Worth Housing Authority).  However, according to the article, political disagreement has existed among local stakeholders about putting these multi-family low-income housing projects (such as the one the subject of this thread) in "high opportunity areas" where high-income people live.  Maybe that disagreement contributed to Ms. Byrnes' contract not being renewed.

 

As to the Vickery/S. Main apartment complex project, it looks from the drawing like it would be for high-income tenants.  Not affordable housing.  Of course I don't know what affordable housing is supposed to look like.  Of course the financing of these projects is subsidized.



#35 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 22 May 2017 - 03:42 PM

This FW Magazine article talks pretty in depth about the potential parking setup in the building, including possible plans to cut back on the number of spaces to save money. Earlier this year Streetsbolg put out an article about the negative effects of building too much parking in transit-oriented development.

The article also mentions that the project is not a priority for FW Housing Solutions (focus is on Caville and Butler first), so it could be a while before construction starts on this one.



#36 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 19 April 2018 - 09:17 AM

From FWHS agenda

 

 

H. Consider a resolution approving a MOU with partners for the Transit-Oriented TAB 14

Development on Vickery. [2018.21] 

 

IDK what that might mean though.



#37 rriojas71

rriojas71

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 2,496 posts
  • Gender:Male
  • Location:Belmont Terrace - Historic North Side
  • Interests:Real Estate, RE Development, Geography, Team Sports, Restaurants, Urban Exploring, Gaming, Travel, History

Posted 19 April 2018 - 09:29 AM

interesting

  :?:



#38 Doohickie

Doohickie

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 5,007 posts
  • Gender:Male
  • Location:South Hills

Posted 19 April 2018 - 09:35 AM

From FWHS agenda

 

 

H. Consider a resolution approving a MOU with partners for the Transit-Oriented TAB 14

Development on Vickery. [2018.21] 

 

IDK what that might mean though.

 

Obviously this:

 

Additional renderings and info from BBPTX

 

 

Thumbnail.jpg

 

burcKNh.jpg

 

:D


My blog: Doohickie

#39 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 13 June 2018 - 02:07 PM

Back on the table but 2 floors shorter.

 

http://www.star-tele...e213093339.html



#40 txbornviking

txbornviking

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 1,368 posts
  • Gender:Male
  • Location:Arlington Heights

Posted 13 June 2018 - 02:55 PM

I'm hopeful to see progress on this. Though, I wish the scope hadn't needed to be reduced.

More housing = more affordable housing. 



#41 Jeriat

Jeriat

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 4,064 posts
  • Gender:Male
  • Location:SWFW

Posted 13 June 2018 - 08:32 PM

Back on the table but 2 floors shorter.

 

http://www.star-tele...e213093339.html

 

Not subscribed. 

Why was it cut down?


7fwPZnE.png

 

8643298391_d47584a085_b.jpg


#42 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 13 June 2018 - 09:29 PM

Does'nt really give a reason for the shrink. It also says the garage will be 6 storeys and "along side" the residential building, so maybe the garage and building got split? Bennet Benner kinda did this with the Magnolia hotel, stating that if parking demands reduce in the future it would make it easier to adapt. 

 

The hotel is mentioned being 6 floors.

 

The renderings in the article are not new.



#43 Austin55

Austin55

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 9,657 posts
  • Gender:Male
  • Location:Near Southside

Posted 11 August 2018 - 04:22 PM

Buncha legalese for those interested.

 

 

RECOMMENDATION:

It is recommended that the City Council: 
 
1. Conduct a public hearing to allow citizen comment on the application of FW Katy Station, LP to the Texas Department of Housing and Community Affairs for 2018 Non-Competitive (4%) Housing Tax Credits for the tax exempt development of the Katy Station Lofts, a proposed mixed use, mixed income multifamily tax exempt development to be located at 200 West Vickery Street; 
 
2. Waive the requirement in the Housing Tax Credit Policy for review of applications to the Texas Department of Housing and Community Affairs that requires the Katy Street Lofts to have ten percent of its total units dedicated as Rental Assistance Demonstration units; 
 
3. Adopt the attached Resolution of No Objection to the application by FW Katy Station, LP to the Texas Department of Housing and Community Affairs for 2018 Non-Competitive (4%) Housing Tax Credits for the Katy Station Lofts, a proposed tax exempt development; 
 
4. Acknowledge that the One Year, Three Mile Rule applies to the Katy Station Lofts and agree to specifically allow the construction of the development and an allocation of Housing Tax Credits for it; and 
 
5. Determine that the Katy Station Lofts are specifically allowed to be located in a census tract that has more than 20 percent Housing Tax Credit units per total households and affirm that the development is consistent with the City's obligation to affirmatively further fair housing. 
 
 
 
 
DISCUSSION:
FW Katy Station, LP is applying to the Texas Department of Housing and Community Affairs (TDHCA) for 2018 Non-Competitive (4%) Housing Tax Credits for the development of the Katy Station Lofts, a mixed use, mixed income multifamily tax exempt development and has requested a Resolution of No Objection from the City of Fort Worth. TDHCA requires Housing Tax Credit applicants to provide a Resolution of No Objection from the governing body of the jurisdiction in which the proposed development will be sited. As part of these TDHCA requirements, the governing body must also conduct a public hearing for citizens to provide comment on the proposed development. 
 
The Katy Station Lofts will have approximately 236 units of workforce and market rate housing. There will be 116 market rate units, with the remaining 120 units set aside for households earning 60% or less of Area Median Income (AMI), 15 of which will be Rental Assistance Demonstration (RAD) units. The ten story residential building will have one- and two-bedroom units and will include a community room, equipped business center/computer center, controlled gate access, swimming pool and fitness center. 
 
The Katy Station Lofts is part of a Transit Oriented Development (TOD), located within 500 feet of transit. The mixed use development, located in the Central City at the corner of West Vickery Boulevard and South Main Street, will also include a new six story hotel, retail space, a daycare facility, and a new six story parking garage for residents, customers and transit riders. The total development cost is approximately $94.2 million. City TOD Bond Funds are one possible funding source in addition to tax credits, Southside TIF funds, Council of Government (COG) funds, tax exempt bonds and private loans. 
 
On April 19, 2018, the Board of Commissioners of Fort Worth Housing Solutions (FWHS) approved a partnership with RMGM Developers, LLC in which FWHS will be the sole member of FW Katy Station GP, LLC, the general partner of FW Katy Station, LP, the entity that will construct, own and manage the Katy Station Lofts. The FWHS will act as the general contractor. The Fort Worth Transportation Authority, now known as Trinity Metro currently owns the land on which the development will be sited and will lease it to the partnership under the terms of a long term ground lease. While the residential building will be exempt from property taxes, the retail space will produce sales tax revenue and the hotel will pay property taxes as well as hotel taxes. 
 
FW Katy Station, LP and FWHS are requesting a waiver of the City' s Policy for Review of Applications to TDHCA for Housing Tax Credits (HTC Policy) (M&C G-19149). The HTC Policy requires, for this development, a set-aside of ten percent of the development' s total units as RAD units in order to receive a Resolution of No Objection from the City Council. The RAD unit set-aside was originally added to the policy in 2016 order to assist FWHS in converting public housing units to long term, project-based rental assistance for its clients that it needed to move out of aging public housing properties (M&C G-18664 and M&C G-18831). However, FWHS has informed Staff that with the 15 units in this development, it has substantially completed its requirements for one- and two-bedroom RAD units. Additionally, TDHCA requires a Debt Service Coverage (DSC) ratio of no less than 1.15 for project financing. The 15 RAD units result in rental revenue that sustains a 1.16 DSC ratio. Increasing the number of RAD units to 24 in order to meet the ten percent set-aside reduces rental revenue and results in a DSC ratio of 1.14. The residential portion of the development cannot be funded at the lower DSC ratio. 
 
TDHCA's One Mile, Three Year Rule requires the local jurisdiction to vote specifically to allow the construction of a new development located within one mile or less of a current development which received tax credits within the last three years. The Katy Station Lofts will be located within one linear mile of another development serving similar types of households which received an allocation of Housing Tax Credits or private activity bonds for development on July 27, 2017. Staff recommends that City Council vote specifically to allow the development of the Katy Station Lofts. 
 
TDHCA rules also state that if a proposed development will be located in a census tract with more than 20% Housing Tax Credit units per total households as established by the five year American Community Survey, it will be ineligible for Housing Tax Credits unless the governing body of the jurisdiction votes to specifically allow it and also submits a Resolution to TDHCA stating that the proposed development is consistent with the jurisdiction's federal obligation to affirmatively further fair housing. The Katy Station Lofts will be located in such a census tract. Staff recommends that City Council vote specifically to allow the development of the Katy Station Lofts and approve the additional determination in the attached Resolution of No Objection that the development is consistent with the City's obligation to affirmatively further fair housing.  
 
Following the close of the public hearing, Staff requests that the City Council waive the RAD set-aside requirements in the HTC Policy and consider the attached Resolution of No Objection to support the application for 2018 Non-Competitive (4%) Housing Tax Credits for the proposed development of the Katy Station Lofts. The development could assist the City in fulfilling its goals under its Consolidated Plan and Comprehensive Plan by providing quality, accessible, affordable housing for low- to moderate income residents and supporting economic development. 
 
This development is located in Council District 9. 


#44 Doohickie

Doohickie

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 5,007 posts
  • Gender:Male
  • Location:South Hills

Posted 11 August 2018 - 06:51 PM

So this is.... across the street from Elkhorn Union?


My blog: Doohickie

#45 rriojas71

rriojas71

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 2,496 posts
  • Gender:Male
  • Location:Belmont Terrace - Historic North Side
  • Interests:Real Estate, RE Development, Geography, Team Sports, Restaurants, Urban Exploring, Gaming, Travel, History

Posted 12 August 2018 - 07:51 AM

So this is.... across the street from Elkhorn Union?


Yes

#46 renamerusk

renamerusk

    Skyscraper Member

  • Banned
  • PipPipPipPipPipPipPip
  • 7,662 posts
  • Gender:Male
  • Location:Fort Worth South

Posted 12 August 2018 - 11:35 AM

This is an example of public transit funding appropriately used that I think has a direct impact upon the City's core.  It also is the kind of TOD that includes different income layers so that it is possible for anyone to enjoy this lifestyle.



#47 Nguyen76114

Nguyen76114

    Newcomer

  • Members
  • Pip
  • 9 posts
  • Gender:Male

Posted 15 August 2018 - 12:23 PM

Some new updates regarding the Katy Station Lofts project, City has approved for this project to move forward. 

City Council: Katy Station Lofts, a transit-oriented development project on Vickery, moves forward

 

In combination with the Elkhorn Union project, Vickery Street / South Main intersection will be heavy in traffic. Lets hope the city considers widen the roads in that area.



#48 panthercity

panthercity

    Senior Member

  • Members
  • PipPipPipPip
  • 312 posts
  • Gender:Male
  • Location:Fort Worth

Posted 15 August 2018 - 01:07 PM

I thing the link was broken Nguyen. Great news though!

http://www.fortworth...ff7699deda.html.

#49 JBB

JBB

    Skyscraper Member

  • Members
  • PipPipPipPipPipPipPip
  • 7,421 posts
  • Gender:Male
  • Location:Dirty suburbs

Posted 15 August 2018 - 01:17 PM

I don't usually let the name determine what I think about a project, but I'm digging that name.



#50 renamerusk

renamerusk

    Skyscraper Member

  • Banned
  • PipPipPipPipPipPipPip
  • 7,662 posts
  • Gender:Male
  • Location:Fort Worth South

Posted 15 August 2018 - 01:27 PM

I don't usually let the name determine what I think about a project, but I'm digging that name.

 

What is the association with "Katy?"







Also tagged with one or more of these keywords: Fort Worth South, TOD, Transit Oriented Development, The T, Fort Worth Housing Authority

0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users