Construction will soon begin on a $52.3 million apartment project in the Near Southside.
On June 7, the Fort Worth City Council approved the closure of Seventh Avenue from West Rosedale Street to Oleander Street to accommodate the construction. The vote was 7-0, with Councilmember Ann Zadeh absent and Mayor Betsy Price on a diplomatic trip to Mexico City. The road will be closed from June 22 to June 22, 2018.
The apartment complex, tentatively named the “Lofts at Oleander Walk,” is located on the block surrounded by West Rosedale Street, West Oleander Street, Hurley Avenue and Fairmount Avenue. Headed by Dallas-based developer Lang Partners and general contractor KWA Construction, the 327-unit apartment complex consists of two five-story buildings with a parking garage in the middle.
Lang Partners President Dirik Oudt said construction could start “any day now.” Construction could take up to two years, he said.
The goal is to build an apartment complex within walking distance from the entertainment on Magnolia Avenue, Oudt said.
“You’ve got a lot of employment next to great retail, but now we need to get some great living spaces in walking distance,” he said. “That’s what we hope to do.”
Rent will range from $1,100-$2,800 a month. Some apartment amenities include a resort style pool and gathering areas.
The project received approval for $1.2 million in tax increment funding back in April.