66.7 F
Fort Worth
Thursday, September 24, 2020
- Advertisements -
Banking Fort Worth agencies take next step in acquiring Hillside Apartments

Fort Worth agencies take next step in acquiring Hillside Apartments

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

The Fort Worth Housing Authority and Downtown Fort Worth Initiatives Inc. have taken the next step toward acquiring and operating Hillside Apartments, the 172-unit, mixed-income property on the eastern edge of downtown.

By forming New 172 Hillside Partners LLC, the agencies created a joint venture to keep the property in local hands.

The property features duplex and triplex apartments built in 1995 by a local corporation to bring affordable housing to downtown. McCormack Baron Salazar of St. Louis developed the property.

When unveiled in 1997, the complex pioneered downtown residential development spearheaded by Downtown Fort Worth Initiatives, with support from the Bass family, the city of Fort Worth and local foundations and corporations.

Organizations that originally helped the project reach fruition were Downtown Fort Worth Initiatives Inc.; Tandy Corp.; the city of Fort Worth; Justin Industries; Sid Richardson Foundation; and Bank of America.

Others were the Amon G. Carter Foundation; Overton Bank & Trust; Burnett-Tandy Foundation; Chase Texas; Burlington Northern Foundation; Wells Fargo Bank; and Davidson Family Charitable Foundation.

Rounding out the participants were Gainsco; the Ben E. Keith Foundation; Pier 1 Imports; Scott Foundation; Tarrant County; and Robert Bass.

Sixty percent of the apartment units are reserved for low-moderate income households, with net cash flow from Hillside operations used to help develop more affordable housing in the downtown area. The project maintains 98 percent occupancy, according to Downtown Fort Worth Inc.

“The Fort Worth Housing Authority and Downtown Fort Worth Inc. have worked tirelessly to ensure the fruition of this project,” Naomi W. Byrne, president of the Fort Worth Housing Authority, in a news release.

“We are proud to continue our relationship with the Housing Authority,” said Jack Clark, chairman of Downtown Fort Worth Initiatives Inc.

Downtown Fort Worth Inc. is a non-profit organization whose stated mission is to help make downtown Fort Worth an attractive place in which to work, live and visit. More information is available at www.dfwi.org.

The Fort Worth Housing Authority develops, owns and operates housing that provides assistance to Fort Worth residents utilizing federal, state and local programs. It owns 1,002 public housing units, 2,998 affordable housing units and 525 market-rate units while administering more than 6,000 housing vouchers. More information is available at www.ftwha.org.

- Advertisements -
- Advertisements -

Latest News

Mars drops Uncle Ben’s, reveals new name for rice brand

By ALEXANDRA OLSON AP Business WriterNEW YORK (AP) — The Uncle Ben's rice brand is getting a new name: Ben's Original.Parent firm...

2 Louisville officers shot amid Breonna Taylor protests

By DYLAN LOVAN, PIPER HUDSPETH BLACKBURN and JOHN MINCHILLO Associated PressLOUISVILLE, Ky. (AP) — Hours after a Kentucky grand jury brought no...

Baseball runs through the course of Roger Williams’ life

Roger Williams was sliding into first base – something he didn’t usually do – in a game with...

U.S. Rep. Ron Wright, who is sick with pneumonia, is released from hospital

By Dan Rosenzweig-Ziff, The Texas Tribune Sept. 23, 2020 "U.S. Rep. Ron Wright, who...

US homes sales rise 2.4% in August

By MATT OTT AP Business WriterSILVER SPRING, Md. (AP) — Sales of existing homes rose 2.4% in August to its highest level...