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#1 mosteijn

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Posted 03 October 2004 - 10:43 PM

Bright future seen for West Seventh Street

By Sandra Baker

Star-Telegram Staff Writer


FORT WORTH -- Developers, land and business owners in the Cultural District say that Seventh Street between the Trinity River and University Drive could become Fort Worth's version of the Champs-Elysées.

A pretentious comparison, perhaps. But why not?

Seventh Street is wide enough and ripe with possibilities for redevelopment as a grand boulevard, a long tree-lined pathway with sidewalk cafes, specialty shops and residences, they say.

While the mile may never achieve the elegance of Paris, no one disputes that it has already begun a major transformation: New apartments are already in place; more apartments and a hotel are on the way; and a project to restore the Montgomery Ward warehouse for shops, office and apartments has started. Pier 1 Imports' new tower and the rebuilt Cash America Building now mark the Seventh Street entrance to downtown and form a kind of gateway to the west.

"Seventh Street has the potential" to be similar to Paris' famous street, said Phillip Poole, an urban planner who is involved with several projects in and around the Cultural District.

Under way

Now that construction has begun on two major developments on the street -- Montgomery Plaza and So7 -- the pace may pick up for Seventh Street to emerge from its decades as a warehouse area dotted with diners and auto dealerships.

The six-lane thoroughfare is the connector between the booming downtown and the city's arts and cultural district and the well-heeled neighborhoods of Fort Worth's elite.

Fernando Costa, the city's planning director, said Seventh Street hasn't even come close to achieving its potential.

"Seventh Street has the potential to attract high-quality developments and to create a more impressive gateway into the Cultural District," Costa said.

Montgomery Plaza is a $50 million project that will include a SuperTarget, and So7 is providing high-end town houses and a hotel.

Pockets in industrial areas north and south of Seventh Street have been snatched up by real estate investors and developers. Their plans are preliminary, but in the next five to 10 years there is little doubt that a great deal more residential and retail development will be part of the mix.

JaGee Properties has bought land just west of University Drive and Seventh Street for a 10-acre, mixed-use urban village that will include 165,000 square feet of retail and restaurant space, as well as a hotel and residences.

Community efforts

And new community-based economic development initiatives are popping up. Cultural District Development Initiatives, a nonprofit organization that will serve as a companion group to the Associated Businesses of the Cultural District, recently formed, and its members want to update the city's 1990 Cultural District Master Plan.

Their goals are lofty, including the introduction of light rail to transport downtown workers and residents to the museums and exhibit halls of the cultural district. Drawing more retail and residential development is another of the group's goals.

"It's real important to us to bring people to the Cultural District, but to have something for them to do along the way," Poole said.

The city is considering walkway improvements along the street. It has asked for federal and state funding to do some work on the Seventh Street bridge over the Trinity River, including widening the sidewalks to eight feet so pedestrians and bicyclists can traverse the crossing together.

The city is also conducting an alignment study to determine where to locate Trinity Parkway, a planned street that would connect Seventh Street to Harley Street and University Drive at the Will Rogers Complex.

Meetings are being held with property owners, and a public meeting is planned. The study is expected to be completed by the end of the year.

Seventh Street has become so appealing that Downtown Fort Worth Inc., a booster organization, has redrafted its Master Plan to expand its boundaries to the west from the Trinity River to Foch Street, incorporating almost all of the Seventh Street corridor.

Andrew Taft, Downtown Fort Worth Inc. president, said the organization wanted to help coordinate efforts in the Cultural District as it concluded that Montgomery Plaza, So7 and the proposed Trinity River Town Lake project would have a considerable positive effect on downtown.

Taft said that all the activity downtown and in the Cultural District "suggests there's opportunity for more development along West Seventh Street."

It's rare for such a large, inner-city area to become available for redevelopment, he said.

"It's pretty appealing," Taft said. " The private sector is responding to downtown and the Cultural District. We will see more developments proposed for the area."

Land of opportunity

Today the strip is home to small shops, a handful of bars, restaurants and a tattoo parlor, as well as a few small car dealers and an auto body shop. Acme Brick, with its headquarters on Seventh Street, owns nearly 12 acres in the area, including properties that are not part of its operations.

Mark Hill, Acme's manager of administrative services and president of the Associated Businesses of the Cultural District, said the company would like to see the area developed with a comfortable blend of residential and retail uses.

"People will want to live in this area," Hill said. "West Seventh will grow up to be a neat neighborhood. We're excited about the future. It's going to be a fun area."

James R. Harris Co., a real estate investment and development company in Fort Worth, began buying industrial and office property north and south of Seventh Street during the past few years, becoming another significant land owner in the area.

Key to its portfolio are several warehouses along Foch Street that the company has redeveloped and leased for retail.

Lee Nicol, a partner in Harris, said the company continues to look for deals because it's betting that Seventh Street will be the next up-and-coming area, in part because of ongoing downtown development and in the neighborhoods around the museums and city parks.

"It's turning around as we speak," Nicol said of the area. "We think we fell into an opportunity on Foch Street. We got in at the right price. We were at the right place at the right time."

The museums and Trinity Park provide natural boundaries for redevelopment along Seventh Street, agrees Fort Worth real estate broker Rodger Chieffalo. It also doesn't hurt, he said, that the street leads to some of the highest-income neighborhoods in Fort Worth.

"The demographics are so strong," Chieffalo said. "It's a testimony to what this area is destined for."

Nicol predicts that businesses will also want to be on or near Seventh Street.

"West Seventh is a tremendous arterial feeder," he said. "It's a magnet for a range of businesses, not just retail. We keep our pulse on what's going on."




Wow it's almost like they read my mind...I would love to see a Champs-Elysees type street here! I also hope this JaGee development is actually urban. How big is 10 acres anyway?

#2 Doug

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Posted 03 October 2004 - 10:47 PM

10 acres is 660' X 660'.

#3 ghughes

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Posted 04 October 2004 - 12:52 PM

Step 1: Prohibit surface parking except at the curb. It's all underground along the Champs.
Step 2: Build enough of a median to provide a half-way stop for pedestrians
Step 3: Discover that there are untapped thousands of idle rich in Fort Worth ready to support something better than a Super-Target. (hmmm, this one might be a bit challenging)

#4 mosteijn

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Posted 04 October 2004 - 10:38 PM

Were there any other pictures in the print version of the article besides the black and white one from 1938? I was about to get a copy of today's paper, but they had already put in tomorrow's by the time I got around to it :cheez:

Also, according to the article, Downtown Fort Worth Inc. now has 7th street under it's jurisdiction, which means most of the new developments will probably respect DFWI's urban design guidlines. I hope the city gets light rail out there too, and I hope they align it on 7th instead of diverting it to Lancaster as is planned. Imagine how dynamic 7th street could be if it had light rail on it...

#5 redhead

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Posted 05 October 2004 - 09:03 AM

Several points to make about the 7th Street discussion. First, there are two groups involved with the Seventh Street and the Cultural District: one was appointed by city council many years ago to guide the developing musuem district (and it is mostly heavy hitters form the museums); and a second group, ABCD (Allied Businesses of the Cultural District)loosely headed by Phillip Poole, albeit he is not the president du jour. Neither of these will gracefully give control of the area's destiny to DFWI---no matter what Andy Taft says/wants/does or passes. Independently, however, there has been an ongoing ULI workshop for the expansion of the urban guidelines to "west downtown." I believe those go to the DDRB's next meeting.

The tragedy of the area is that the two groups seem to work in opposition to one another instead of working together, and city staff is tired of hearing the whines of what ABCD doesn't get. (mostly when compared to Fort Worth South, guided by the outstanding eadership of Don Scott) Herein lies the problem: neither cultural district group has a paid gun to make things happen! And the group with the money would not entrust the group without the money to carry the tourch for the area...oh well. Hopefully they can merge the two and things will start to click---with the amount of investment happening at the time, there's no time like the present!

Another point dear Johnny---I sincerely doubt that light rail will go in either direction given that all of the published economic reports I have read do not justify the expenditure. Better mass transit is obviously in order, but I doubt that light rail will be the answer.

#6 mosteijn

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Posted 05 October 2004 - 10:14 AM

Another point dear Johnny---I sincerely doubt that light rail will go in either direction given that all of the published economic reports I have read do not justify the expenditure.

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What do you mean by that, exactly? There won't be enough subsequent tax/fare revenue to justify the total cost of a light rail line?

#7 redhead

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Posted 05 October 2004 - 08:51 PM

Exactly---the revenue stream generated by the use of the rail service is so far below the level of debt service that the entire concept becomes utterly untenable. Sorry, Johnny-at the level of the presidential debates: (sixth grade, according to Columbia U. language studies)---the damn thang can't pay fer itself. No way, no how.

#8 Thurman52

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Posted 08 June 2005 - 09:43 PM

I was looking for where to post this, thought I remembered a thread about the 6 points intersection clean-up.

The horrid shopping center is demolshing the corner concrete and looks to be putting in a planter. A bit of green to match the other points, improvement yes, but could be way better!

#9 David Love

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Posted 08 June 2005 - 11:28 PM

I don’t think the train has been in place long enough for people to become accustomed to it, or perhaps I should say trust it enough to become dependant upon it. I honestly don’t think it should be run for profit, it’s a community resource; I do think the businesses that benefit from it should in some way support it. The impression I get most from the press is that of a “grand social experiment.”

#10 safly

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Posted 09 June 2005 - 11:50 AM

Perhaps the "light rail" can become financially tied in with parking garage annuals. Buy a space and ride for FREE to DTFW or MDistrict. People that work in DTFW can now park and ride to work. Companies can subsidize this trend. I drove around Linwood today. It seemed like a fair neighborhood inmy view. Id on't see the run down dreadfulness that some posters imply. It also appears that a number of homes are well kept and maintained. Their are some surprises here or there, but don't think it warrants a total overhaul of the COMMUNITY. It does not seem like a high crime area, and some homes are already being renovated for RENT.

I would hate, absolutely hate for DFWI to get involved politically with this neighborhoods future, since they never gave a damn before. Just my take. -_-
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#11 Sam Stone

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Posted 09 June 2005 - 11:58 AM

There should be some more news on this soon. Re: light rail, could be more of a possibility than was previously expected. Between some regional grant money and a new TIF district, a line from downtown to the cultural district could be built fairly easily.

I think the thing about Linwood is not that it's so bad on an absolute scale, but that it's underdeveloped given its prime location.

#12 courtnie

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Posted 09 June 2005 - 12:05 PM

Linwood is a guppie in an ocean of sharks.....its not the neigborhood itself...its where it happens to exist thats the issue.....

#13 safly

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Posted 09 June 2005 - 12:22 PM

So how can "the city" help spur renovation or develoment within the neighborhood. Because it sounds to me that BigBusiness (or ahhem, DFWI) is going to muscle it's efforts, align with the city, create financial backing for the "master plan" expansion, then force em out, or force em to compete(sell).

When will it stop? Has the city asked itself that for a change?

This conform or leave concept has got to go!

The sad thing is that Linwood does stand a chance. But they would have to create some form of precedent with city development guidelines and loopholes. which entails takes some probono attorney work and long hours for research. I just feel that the city will ultimately choose not to protect them on this one, when given the option.
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#14 Sam Stone

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Posted 09 June 2005 - 03:00 PM

Safly, it is extremely unlikely that DFWI would be involved in Linwood in any way. That is not to say that some of the members might not want a piece of the Linwood action. More likely is that some of the downtown players see some near-downtown projects as a threat. I would disagree with that, but it is nonetheless the perception.

There are many ways the city could spur renovation and development in Linwood. Some things would certainly attract high-end construction that could force a lot of the current tenants out. And there are of course ways for the city to ensure a mix of income levels and residents.

Unfortunately, while our very able planning department might be able to help make this happen, we have council members who don't see the bigger picture and are more interested in doing deals. See So7.

#15 David Love

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Posted 09 June 2005 - 03:59 PM

Posted on Wed, Jun. 08, 2005

Partnership to invest $3.8 million in So7

By Sandra Baker
Star-Telegram Staff Writer

FORT WORTH - The 25-acre So7 development will launch its second phase of construction with an infusion of cash from a new investor group.

Colleyville-based Realty Capital Partners has pulled together 40 individuals from across the country and formed a 50-50 limited partnership with Hughes Development. The partnership will invest $3.8 million to buy and develop 1.73 acres in the So7 residential and retail development on the city's near west side.

The project lies on the western edge of Trinity Park along West Seventh Street, across from Montgomery Plaza.

The second phase will include 12 town houses and a four-story building for about 60 condominiums, said Jorg Mast, a principal in Hughes Development who is overseeing the project.

The units will range from 1,100 square feet to 1,800 square feet, and cost $200,000 to $300,000. Construction could begin in January.

Hughes Development, based in Dallas and known as UC Urban until earlier this year, is working with the Australian-based property owners to develop the former industrial tract. The project has been on the drawing board since 2001. Construction on streets and sewers began in December 2003, and on the first town house in May 2004.

When completed, the first phase will have 60 town houses, with many selling for an average of more than $400,000.

Ken Hughes, who developed the popular restaurants, stores and homes in Dallas' Mockingbird Station, and Mast, are the principals of Hughes Development.

Hughes Development still plans a multistory building along West Seventh Street with about 180 apartments and 125,000 square feet of retail space on the first two floors, Mast said.

#16 safly

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Posted 10 June 2005 - 12:30 AM

Driving by there today, I met with a few business owners who hesitate on seeing this develoment as a moment of salvation for their community. I can already see the nice homes, mixed incomes, but largely mid based. Wonderful architectural works on some businesses and homes. (Will download pic's this weekend.) But, I also see the lack of inner city emergence, terrible roads and curb maintenace. Lack of fencing near the park with one bbq pit and no pavillions. This kind of lack of muni-support would never be allowed in Ryans place, TCU, or Berkely division. No community pools or fields for soccer or softball. And look at how close it is to DTFW! That is what bugs me, that this did not just happen overnight.
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#17 courtnie

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Posted 10 June 2005 - 08:42 AM

Safly, I agree with you because it didnt happen overnight...that neigborhood has been that way for 20 yrs. I had friends that lived there when i was in elementry school and we would go and visit them. It was sad because the neigborhood hasnt changed in that length of time. Its almost as if its frozen in time. I wondering who they are going to get to buy all of the 400k + residences around here...Is DTFW goin a bit over board on the loft, condo, apartment thing? It seems to have exploded overnight or am I just out of the loop?? :D

#18 safly

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Posted 10 June 2005 - 02:12 PM

Safly, I agree with you because it didnt happen overnight...that neigborhood has been that way for 20 yrs. I had friends that lived there when i was in elementry school and we would go and visit them. It was sad because the neigborhood hasnt changed in that length of time. Its almost as if its frozen in time. I wondering who they are going to get to buy all of the 400k + residences around here...Is DTFW goin a bit over board on the loft, condo, apartment thing?  It seems to have exploded overnight or am I just out of the loop?? :D

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No doubt. They do have an excellent prime location for growth, but that should have been an issue well before MW folks were getting a slice from the taxpayers pie. It does seem like a place frozen in time. some of the houses seemed almost military barrack like. I strongly encourage the city to provide the public with an answer to your first question. When will it stop, when does the "Master Plan" expire? What is the recourse? Expensive RE flooding the DTFW ( and extended) market. To the point where only a handful can afford the majority of RE built, or support the infrastructure. These are serious questions that need to be addressed, ESPECIALLY with elections ahead of us. Prosperity is an end result from a lenghty journey. I think FW is lookin to stunt it's growth sooner than later. Or has embraced a trend soon to be mimicked by other cities nearby. Then what? :D

I wondering who they are going to get to buy all of the 400k + residences around here.


Not sure if I follow you on that Q? What exactly is your Q on that? Are you disassociating the $250K avg. new condo or townhome from the majority of sub $50K/yr salary FW resident. Am I reading that Q right?
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#19 courtnie

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Posted 10 June 2005 - 02:44 PM

When completed, the first phase will have 60 town houses, with many selling for an average of more than $400,000.


What I am asking is truly how many people who are living in Ft.Worth now can really afford a home of that price. With the economy on shaky ground, even thought Greenspan is saying hey things are getting better I do not believe that at all. There seems to be a concentration of wealth and those that arent seem to get the shaft. Linwood is a good example. Those folks are in the average income bracket and they are going to get shafted out of their homes(possibly) for the wealthy to have their 400k town home...I just dont agree with that. Is there enough intrest(apparently there is) to build these new condos and town homes and have them sold. I am just wondering where these people come from.


I just dont agree with all of this new construction. The reason I dont is that it is making it truly hard for those that are lower income to have a home in a nice neigborhood and raise a family. I am glad to see Ft.Worth doing some great things and not just letting the older buildings turn to rubbish. I just dont want to see us (Ft.Worth) become New York or L.A. I like the sleepiness of our town and the fact it is quaint and that it is a city that runs more like a small town.

Im not trying to step on anyones toes or say that progress isnt good. I just dont agree with running over the little people who make progress possible...but that is my opinion...

#20 Urbndwlr

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Posted 10 June 2005 - 05:56 PM

When completed, the first phase will have 60 town houses, with many selling for an average of more than $400,000.


A) What I am asking is truly how many people who are living in Ft.Worth now can really afford a home of that price. With the economy on shaky ground, even thought Greenspan is saying hey things are getting better I do not believe that at all. There seems to be a concentration of wealth and those that arent seem to get the shaft. Linwood is a good example.

B) Those folks are in the average income bracket and they are going to get shafted out of their homes(possibly) for the wealthy to have their 400k town home...I just dont agree with that. Is there enough intrest(apparently there is) to build these new condos and town homes and have them sold. I am just wondering where these people come from.

C) I just dont agree with all of this new construction. The reason I dont is that it is making it truly hard for those that are lower income to have a home in a nice neigborhood and raise a family. I am glad to see Ft.Worth doing some great things and not just letting the older buildings turn to rubbish. I just dont want to see us (Ft.Worth) become New York or L.A. I like the sleepiness of our town and the fact it is quaint and that it is a city that runs more like a small town.

D) Im not trying to step on anyones toes or say that progress isnt good. I just dont agree with running over the little people who make progress possible...but that is my opinion...

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Courtnie,

I'd like to address the issues you raise above, - I took the liberty to assign letters to a few of your points above so I could reply to each:

A) How many can afford $400,000 homes? A lot right now. Remember that number sounds high but with cheap debt, that works out to roughly a $1900 monthly payment. If you apply the ratio of monthly home cost to income HUD uses for housing affordability (1:3), this means a household making at least $67,000 per year should be able to afford that house. (using rounded #s).
That's not a ton of money. Yes, its above the median income, but there is a deep market of people who earn that much from salary and investments.
Really, cheap debt is largely responsible for bringing these homes within the reach of more people.

B) If the residents in Linwood are renters, you are right - they are exposed to the risk that their landlords will sell the homes and they will have to relocated. Fortunately we live in a city where there is an abundance of similarly inexpensive housing. I agree with you that it is a shame that we aren't seeing more truly affordable, well designed central city development. I believe some builders have undertaken such development on the Southeast side and in Como (one-off houses), which is a start. That's a tough business to make the financial #s work when the end users are extremely price-sensitive.

C) If you oppose growth in density in our city because you prefered a time when Fort Worth virtually had no pulse (not that long ago) we have entirely different visions for the optimal future of our city. I strongly believe that Fort Worth can look forward to continuing to grow into a vibrant, cool, distinctive, unique, sophisticated, culturally-rich city that has a high-density downtown, medium-density districts and neighborhoods within 3-4 miles of the city's center, and lower density residential districts (as they are today) with several medium-density neighborhood centers located throughout them (as in the commercial corridors plan), with large, contiguous public open/green spaces throughout the city and around the city's outskirts.

D) I agree - we can't forget about the needs and best interests of all of our citizens. I am not discouraged at this time, however. I think that it is natural that the pioneering residents of the new central city residential districts are going to be at the high end of the price spectrum to offset the high financial risk of these projects. I think more diverse housing options will follow.

#21 safly

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Posted 11 June 2005 - 01:57 AM

A) I'm trying to follow your logic on spending a 1/3 of your before taxes income on a $1900/month payment driven by debt. Are you expecting the house to resell for a meager 5-10% gain in the coming 10 years or so? I highly doubt that figures to be the case in this slow jobs growth market. Don't forget taxes, HOA (if applicable), insurance, maint./utility bills, parking (if applicable), and so forth. Aww heck, just add in another $500-$1000/month. You would def. have to take in to account for that person to sacrifice a bit, change a diet plan, lifestyle (less travel, expenses), and would also expect people in that area to shop/dine out a little less. Bad news for retailers. So for a debt driven society, it could work, but is not encouraged, unless you are a developer, RE agent, or a property mgr. :D
You would have a better chance at reselling/leasing a $400k home on 2-10 acres as a 3000-5500 sqft. home w/ a 4,5/3/2, a pool, possible gated golf community, near schools and affordable shopping, i.e. Malls. But your idea of DTFW in the future or present for new construction at $400k would be more like a 1550-2200 sqft job w/ a 2,3/2,3/1,2, possible stacked apt. style, maybe a community pool, 1-5 miles to DTFW/ Trinity. So it is all based on relevancy in my view.

B) So are these developers pushing this lower income resident out of DTFW scope and into SE and far west (or where ever Como is?), just to create ambitious oppt. for new development and home buyers alike. I would not be too proud to admit that. I am sure Henry Cisneros and his colleagues could showcase quite an argument against this train of thought. So basically, you've just supported a major deciding factor in the fate of the Ripley Arnold Projects, making way for the big players. Bottomline is that the #'s could work if the city's TIF alliance would back such a bold and forward concept, but they just look the other way on it.

C) I don't believe FW can grow/mature into vibrancy when the majority of it's DT scope is untouchable for so many. This new price gouging will do more to divide our communities, rather than bringing them together. Again, placing high end price RE into DTFW and displacing lower income demo's out of DTFW. IF you think that the RE industry is going to be the only hope for FW's VIBRANT future then we are going about it the right way. But if you think we need better paying jobs to supply this demand, better educational efforts, and a strong collaborative community effort in setting standards for this town and promote fiscal rsponsibility. Well then we are going the exact opposite way about it, way off the tracks on this one.

C,D) I hope that these public/open green spaces are preserved for futures sake. But will this be at the mercy of existing residents in the direct N or E part of DTFW. I hope not.

More diverse housing options MIGHT occur if the public is aware about it, or demands it. In relation to a shortened timeline, I think your notion is too far fetched. I for one hope this would some day be the norm, but it does not seem to be the case in priority.
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#22 mosteijn

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Posted 11 June 2005 - 02:01 PM

When completed, the first phase will have 60 town houses, with many selling for an average of more than $400,000.


What I am asking is truly how many people who are living in Ft.Worth now can really afford a home of that price.

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Ah, but you´re thinking far too specifically. The question is not who that currently lives in FW can afford that, it´s who that we can entice to live in FW can afford that, and that broadens our income scope considerably. You could say that FW has a market of 6 million people to draw from, because as long as people can get to work relatively easily (which is why CBD job growth would really propel residential development :blink: ) they will live in whatever location/type of dwelling they see fit, and luxury condos in a wonderful neighborhood like DTFW would certainly appeal to anyone who could afford it.

#23 cberen1

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Posted 13 June 2005 - 12:21 PM

I know $400K sounds like a lot of money, but there are plenty of people who can swing it. There is rule of thumb which says your house payment should be 25%-33% of your gross monthly income. A house payment on a $400K home should be around $3,400 including taxes and insurance. So, you'd need to be making about $120K to $160K per year to cover it comfortably(assuming you finance the whole thing). If you've got some equity from savings or selling a prior home, it could be quite a bit less.

I can think of over 30 people just on my floor of Burnett Plaza who make more than that (there are probably more), and they are mostly people in their 30's and early 40's. I couldn't even begin to count the number of $100K employees there are within a mile of where I'm sitting.

I guess the point is, in a world of two income households $120K per year just doesn't seem like a whole lot of money.

#24 courtnie

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Posted 13 June 2005 - 12:30 PM

Maybe to you 120K doesnt sound like alot of money but I know many more people who couldnt even imagine having that kinda money. And some that do make that kinda money cant swing a 3400 a month payment.
Your right Johnny about bringing in those people who can afford that price but what happens when that person gets transfered to another location and they need to get rid of the house, condo or whatever it might be. The forclosure rate is steadly increasing. IMHO I would rather have an 850 a month house payment vs a 3400 a month payment even if I did make that much money. The job market is still pretty slow and lets face it..its difficult out there no matter the amount of money you make. When I got out of college I was sadly dissapointed at what I was offered as pay for a job...It really made college seem usless but I know at least having that peice of paper I can open doors with it that I couldnt before.

#25 Willy1

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Posted 13 June 2005 - 06:51 PM

Unfortunately the price of luxery has gone up. What is considered affordable today was not considered affordable a few years ago. The price of living is simply increasing and that's exceptionally true for places like Dallas and Fort Worth where the cost of living has lagged behind the other large urban centers. In 1985, a $150,000 house was considered expensive in FW - and it bought you something in Ridglea Country Club Estates. Now look at what $150K buys you. We're just now starting to see the price of living start to catch up with the other major areas. Go to any major city on the west or east coast and see what you get for $400K. Go to Arizona or Santa Fe, Atlanta or cities in Florida... $400K is not a crazy price for an new home in a growing urban core. The days of $850/month mortgages is quickly turning into a thing of the past. Heck, most rent on new apartments is higher than $850 a month now. I bought my little 2/1/1 in Monticello 7 years ago. It's tiny, but it's perfect for a single guy and I just happen to fall into it at the right time and right price.... (and for the record, my house in Long Beach, for example would be worth about $800K - without the yard - I know because I almost moved there.) I have a big yard and pretty much everything I need.The house behind me is about the same size but I just got a public hearing noticed in the mail for the rezoning hearing on that property. They're building a nearly 4000 sq ft home with a 3 car garage behind me. The house across the street from the house behind me has already undergone similar redevelopment. And, I can promise you that the house behind me will cost at least $600K. They are building these homes all around me. Because of that, my house has nearly tripled in value in the last 7 years. The house isn't worth much, but the dirt is worht its weight in gold. If I bought my house today, I'd be paying three times what I pay a month now... If I sold it, I'd make a fortune, but I couldn't afford to buy another home in my neighborhood.

As for Linwood - that is not an middle income neighborhood. Linwood is a low-income neighborhood and most of the homes are not very well kept. Sure there are exceptions, but it's not the norm. If you drive through that neighborhood, you can still see some homes with tornado damage that was never repaired. When developers come in there and buy those properties, they're not forcing those people out. They're buying their homes and paying them more than they'd ever get if they just sold the homes on their own.... Let's say there were no developers interested in building in Linwood. Those homes wouldn't sell for very much. It's not like Monticello and Arlington Heights where homes have always been in high demand... the redevelopment will bring life back into an otherwise dying neighborhood that is surrounded by industrial businesses. Without redeveloment, Linwood won't be an area where people will want to move. Additionally, the possiblity of selling their homes for more than they're really worth give the people of Linwood a possibility to live in a better place. The people of Ripley Arnold were not happy at first because they thought they were going to be relocated to somewhere worse. But, many of those people ended up in Tanglewood - a very nice area. Ask those people from Ripley Arnold today what they think, and I'd be willing to bet they are happier with their new living condition than they were living in the Ripley Arnold complex which was nothing more than an low income, inner city housing project. The city benefited from the redevelopment of Ripley Arnold, and so did the people who lived there.... I suspect the same thing will happen to Linwood - we as the citizens of FW - just have to use the proper checks and balances that are in place to ensure that people are not mistreated for the sake of profit.

#26 David Love

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Posted 13 June 2005 - 07:26 PM

Living in a house that you own as your primary residence has to be one of the best investments you can make, you have to live somewhere anyway right. Take a 400K residence for instance, 4% per year average inflation for appreciation so you’re looking at what $86,000.00 in 10 years and that’s tax free up to 250K if you’re single or 500K if you’re married, as long as you live in it as a primary residence you can cash out or trade up every two years to take advantage of the tax break. I just sold my house which is not in one of the most “prestigious” neighborhoods in the Metroplex, getting ready to move into the Tower, anyway… I owned it for 10 years and my net was more than half of the original purchase price.

The catch is, yes there’s always a catch, you have to do your home work. I’ve known coworkers that bought a house from a friend based on what they paid for it only to find out that everyone in the neighborhood were on 5 year balloon notes which were coming due. Most were foreclosed on sold and financed by HUD and FHA for 50 to 60% of their previous prices. Needless to say they didn’t have the friends they thought they did and they’ve been upside down in this house for over a decade.

#27 Thurman52

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Posted 10 July 2005 - 10:43 AM

There is a zoning hearing this week for 925 and 1001 Foch St. From MU2 to PDSU for all uses in MU2.

Anyone know what this is? I was thinking the little warehouse district to the West of So7....

#28 courtnie

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Posted 11 July 2005 - 01:36 PM

Willy is right...its the very reason I moved back to Crestwood...we got in cheap and of course our house is small but with the house prices going up I will not have a big problem in saying goodbye to the house when the time comes. If I can double my investment..ill sell and move elsewhere. I love the neigborhood, the area and everything but in this day and age anything can happen...I wonder if someday they will be knocking on my door wanting to offer me a price for my house since it backs up the the levee and the river....im sure that day will come..just dont know when

#29 mosteijn

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Posted 11 July 2005 - 02:20 PM

There is a zoning hearing this week for 925 and 1001 Foch St.  From MU2 to PDSU for all uses in MU2. 

Anyone know what this is?  I was thinking the little warehouse district to the West of So7....

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Yeah, it's that long building that runs along the east side of Foch from Lancaster to Crockett and this zoning change would cover ALL of it. That is interesting...is PDSU Planned Development Special Use? What exactly does that mean?

#30 John T Roberts

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Posted 12 July 2005 - 05:16 AM

Jonny, my sarcastic and quick reply would be for you to go look it up in the City of Fort Worth Zoning Ordinance. However, I will try to explain it. If you have more questions, then you might want to look into the specifics within the book. It is available online and there is a link within this forum.
A Planned Development Special Use is a special zoning category where the applicant can request a slight variation within the ordinance. For example, he can request a PDSU to include all of the uses within "E-Commercial" (the most restrictive), plus one use within "F-Commercial" (the next less restrictive). This would ensure that with the one exception, that property would only have uses for "E-Commercial" until the zoning is changed. This special use also requires that any change be made in use or the property must go back for review by the Zoning Commission. If the neighbors complained about the use that the owner was proposing, another way the PDSU could be used would be to include the one "F-Commercial" use and then remove certain uses allowed in "E-Commercial", further restricting the zoning on the site.

#31 mosteijn

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Posted 12 July 2005 - 12:39 PM

I got it now, so they can use all the uses under MU-2. I wonder how much of a difference that would make for whatever this is. Does this specific zoning give us any hints as to what is going on there?

#32 redhead

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Posted 12 July 2005 - 02:58 PM

The name of the game is PARKING. That whole area suffers with insufficient parking in accordance with the current zoning ordinances. Oddly, city staff found a loophole in the MU2 that basically grandfathered the property so the zoning change was unnecessary.

#33 Thurman52

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Posted 24 July 2005 - 09:34 PM

There is a zoning hearing this week for 925 and 1001 Foch St.  From MU2 to PDSU for all uses in MU2. 

Anyone know what this is?  I was thinking the little warehouse district to the West of So7....

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I see the zoning commission denied it w/ prejudice. Anyone seen the replay to see what the cause of the denial was?

#34 mosteijn

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Posted 24 July 2005 - 09:52 PM

Redhead already got it. They only wanted the zoning change for more parking, and it turned out they didn't even need it in the first place, so that's that.

#35 Thurman52

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Posted 25 July 2005 - 07:37 AM

I guess I should have read the comment before I posted oh well. I noticed big banner up for MiFamilia's new locations.

#36 cberen1

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Posted 25 July 2005 - 08:07 AM

I spoke with Al at La Famila on Saturday. I got the impression from him that he wasn't a willing participant in the move. He seemed fairly up beat about the new location though. He said the kitchen and dining area aill be larger and more accomodating, but no outside seating.

#37 mosteijn

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Posted 25 July 2005 - 11:34 AM

Oh boy, prime 7th Street land going for sale! I wonder who's going to drop the ball on this one...maybe a Motel 6? Or a giant McDonalds? Either one would fit the atmosphere it seems the current developers on 7th are trying to create. :unsure:


3 selling properties on W. Seventh Street

In an unusual move, three property owners on West Seventh Street have teamed together to market their individual tracts for sale.

Jim Benson, Will Martin and Tyler Trahan, brokers with The Woodmont Co. in Fort Worth, are listing the sale.

They said the collaboration of the owners makes it easier to sell the properties, located in one of the hottest commercial real estate areas.

"They can get a lot more for their property together than separately," Martin said.

The three tracts total 65,000 square feet, or about 1.5 acres, and stretch between Sixth and Seventh streets, just east of Stayton Street. The property is directly across Seventh Street from Trinity Park and its well-known pavilion.

Asking price is $42 a foot, or $2.7 million.

The parcels are one block east of the Montgomery Plaza residential and retail development, which has become the focal point of redevelopment on the city's near west side.

Montgomery Plaza will be anchored by SuperTarget, but it will include several other junior anchors and restaurants.

The renovation of the historic former Montgomery Ward building on West Seventh Street will also add shops and apartments, its developers have said.

Benson said the land is one of the largest tracts in the area for sale.

Zoning on the property allows for a mix of residential and retail uses, making the land much more attractive to developers, he said.

Martin said the tracts will be sold in one sale, but it will require three separate transactions.

There are some businesses on the property, including an insurance company and tattoo parlor, but they are on short-term leases, Martin said.

-- Sandra Baker

#38 youngalum

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Posted 25 July 2005 - 03:15 PM

That property is basically sold already.

Expect an announcement very shortly.

#39 Thurman52

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Posted 25 July 2005 - 03:57 PM

So this announcement on for sale was a PR stunt...

#40 PPoole

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Posted 02 October 2005 - 08:15 PM

The CDDI's (Cultural District Development Iniatatives Inc,) West 7th. Corridor Plan has been completed by RTKL and several public forums have been conducted.

A Finance Plan prepared by Urban Economist Mark Stien will be presented in a Council TIF proposal in the works for the 2 Urban Villages along 7th. Street adjacent to the Cultural District. CDDI will present it's plan to the city council before the end of the year for review and adoption.

Funding for an ultra ligt rail connection to the Intermodal Center Downtown throughout the district will be also be included. Updating of antiquated and needed infra structure improvements is also part of the plan.

Other needed development improvements requiring public support will be also be proposed. The Trinity River Vision TIF unfortunely leaves a great deal of the land on the west side of the levee along the Trinity's bank in the flood plain which requires extensive sump pumps to allow development on the west sde of the levee to be out of the flood plain. This funding may not be in The Trinity River TIF and may also be needed to be included in the West 7th. Corridor TIF Plan.

A great deal of progress has been made by CDDI to bring this corridor up to the level of attention afforded the Downtown and Cultural District Core Instutional assets.

Development Standards will be a part of the oversight requested by CDDI to insure quality development is added to this potentially "Great Boulevard".

#41 John T Roberts

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Posted 02 October 2005 - 08:18 PM

Thank you for the update. Please keep us informed of possible meetings and public hearings. I will put it on the Community Events Calendar.

#42 mosteijn

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Posted 03 October 2005 - 07:01 PM

Development standards would have been nice to have when MW was first announced... :huh:

Speaking of 7th, what's the deal with the "Cultural District Village" project by JaGee? I thought we were supposed to hear something about it in March...

#43 ghughes

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Posted 03 October 2005 - 08:37 PM

Greetings, Mr. Poole, and welcome to the forum!
What is an ultra light rail?

#44 PPoole

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Posted 04 October 2005 - 06:09 AM

Greetings, Mr. Poole, and welcome to the forum!
What is an ultra light rail?

Ultra Light Rail is an updated version of the modern "Streetcar" The best vehicle is one made by Scoda of Czechlovakia. It is currently the vehicle used in Portland Oregon.

#45 jefffwd

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Posted 04 October 2005 - 08:39 AM


Greetings, Mr. Poole, and welcome to the forum!
What is an ultra light rail?

Ultra Light Rail is an updated version of the modern "Streetcar" The best vehicle is one made by Scoda of Czechlovakia. It is currently the vehicle used in Portland Oregon.


Here is a link to Portland's MAX Light Rail. http://www.trimet.or...de/usingmax.htm Pretty cool! B)

#46 Urbndwlr

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Posted 04 October 2005 - 07:27 PM

The CDDI's (Cultural District Development Iniatatives Inc,) West 7th. Corridor Plan has been completed by RTKL and several public forums have been conducted.

A Finance Plan prepared by Urban Economist Mark Stien will be presented in a Council TIF proposal in the works for the 2 Urban Villages along 7th. Street adjacent to the Cultural District. CDDI will present it's plan to the city council before the end of the year for review and adoption.

Funding for an ultra ligt rail connection to the Intermodal Center Downtown throughout the district will be also be included. Updating of antiquated and needed infra structure improvements is also part of the plan.

Development Standards will be a part of the oversight requested by CDDI to insure quality development is added to this potentially "Great Boulevard".


PPoole,

What is the CDDI exactly? Is it a CDC? A loosly-knit organization of constituents from around the museum district? And roughly what role do you expect it to play in planning, development, infrastructure?

Wonderful to hear someone is spearheading the creating of a rail line b/w Downtown and the near west side. Needs to happen. 7th St is perfect for it.

Despite the presence of design standards in the Upper West Side district, some non-conforming buildings have been and are being built. Will the development standards you mentioned be actually required or used as suggested guidelines? I assume this involves TOD principles.

wait, did you say Czechoslovakia?

#47 redhead

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Posted 05 October 2005 - 10:14 AM

a non-poolean response. CDDI is a nonprofit group patterned very much after Fort Worth South, where one pays to play. Currently housed with JaGee properties, CDDI is coordinating the effforts of ABCD with a more-or-less unified voice for the property owners in the area.

The suggestion actually came from an ABCD member that the group should have a full time individual to spearhead the effort, as the part-timers were being ignored (seemingly) by city hall. Cliffnote version.

#48 mosteijn

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Posted 05 October 2005 - 09:00 PM

I guess we'll know how crazy of a thought light-rail in Fort Worth seems when the T releases its 2005 strategic plan...personally, I hope the T goes light-rail crazy and builds a well thought out system connecting all the promising nodes of inner city Fort Worth, but I realize that "well thought out" and "public" rarely go hand in hand. All we can do is hope for the best.

#49 ghughes

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Posted 06 October 2005 - 03:55 AM

I'll be interested in that, too, Johnny. Those behind the new strategic plan issue are some pretty sharp folks and , despite my comments elsewhere, I expect to see good things.

That said, there is an ongoing problem for light rail. Population density and current use of public transportation are both extremely strong predictors of light rail acceptance, use, and success. As things stand, Fort Worth is too disbursed and too rich (believe it or not) to expect light rail success. Further, there is not a transportation system in the US that operates light rail on a 1/2 cent sales tax rate like the T gets. DART, and all the rest run on 1 cent. I'm not aware of any studies that say that's a requirement but I know the correlation implies something about how much it takes in subsidy rate to run light rail, too.

#50 Thurman52

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Posted 16 October 2005 - 02:53 PM

Drove through the warehouses along Foch and Morton Streets (South of 7th) I noticed the Black Dog Tavern and 7th Haven are renovating a building back there. I have always thought that area would make an awesome bar/club scene..




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