Friday, September 17, 2021
89.4 F
Fort Worth

Ohio developer bringing senior housing to Fort Worth

🕐 1 min read

Scott Nishimura snishimura@bizpress.net

An Ohio developer will build a $17.7 million, 124-unit senior affordable housing community in far south Fort Worth near Burleson. The Miller-Valentine Group of Dayton, Ohio, plans The Reserve at McAlister senior living community on 7.5 acres north of McAlister Road, between Hemphill Street and Interstate 35W. The company was expecting to close on a loan July 31, a company officer confirmed to the Business Press after a July 24 presentation to the Fort Worth Housing Authority board. The project, which will include 22 rental assistance units, is being facilitated by a package of federal low income housing tax credits plus $2.3 million in Fort Worth Housing Authority funds over 15 years.

Brian Dennison, the housing authority’s vice president of development and asset management, said in an interview that the housing authority has a list of “18,000-plus” people in need of affordable housing. “And the list grows every day,” he said. “All phones ring all day. There’s tremendous need.” Miller-Valentine executives were not available for a longer interview on the property. The property will include 112 income-restricted apartments and 12 market-rate units, according to documents the company filed with the housing authority. The development will include one residential building with one- and two-bedroom apartments, as well as a clubhouse, leasing office and “common amenities,” according to the documents. Miller-Valentine still must apply to the federal government for the rental assistance units. If the government does not grant them, the housing authority has committed to making a loan to the development instead. The project will likely open within a year from the close of financing, Dennison said.  

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

Related Articles

Our Digital Sponsors

Latest Articles

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate