By Scott Nishimura firstname.lastname@example.org
Nova Medical Centers, a Houston operator of occupational healthcare centers, is taking a one-acre site in the Evans-Rosedale area off of Interstate 35 southeast of downtown under contract, with plans to build a new center.
Fort Worth’s Housing Finance Corp. would sell the site to Nova for $566,000, city staff told the Fort Worth City Council, serving as members of the HFC board, Tuesday. The council will be scheduled to vote on the sale this month.
“I think this is an excellent use for this property,” Council member Kelly Allen Gray, who represents the Southeast Fort Worth District 8, said.
The city had an option agreement with Cypress Equities on a 3.5-acre site that included the one-acre parcel, but agreed to assign the option to the HFC in March for $1.45 million to satisfy obligations to the federal Housing and Urban Development Department, said Jay Chapa, director of the city’s Housing and Economic Development Department.
Nova surfaced as an interested user of a third of the site, and Cypress, which developed the West 7th district in Fort Worth, will serve as development consultant to the Nova site, which is at the northeast corner of Dashwood and the I-35 frontage road.
The city had secured the HUD funds to help develop the area around Evans Avenue and East Rosedale Street. The efforts landed a Jack in the Box and 7-11 in recent years.
The HFC’s sale to Nova amounts to $13 per square foot. The HFC will receive $8.15 per square foot, or $355,014, plus 20 percent of the amount over $8.15 after expenses and broker’s fees.
Nova will likely begin construction on the site in August, Chapa said. The center will employ 15-25 people, said.
Nova, an occupational health provider for 20 years, provides care to people suffering from musculoskeletal injuries. It treats more than 40,000 injuries annually at its facilities in Texas, Georgia and Tennessee,the city said.