Local and federal officials joined Fort Worth Housing Solutions and LDG Development, one of the nation’s largest developers of affordable housing, to officially open two of Fort Worth’s newest affordable housing communities – Patriot Pointe, off SE Loop 820, and Stallion Ridge, near the Fort Worth-Everman border April 21.
The two, mixed-income, multifamily communities add 424 high-quality units to the city’s affordable housing inventory.
The majority of units at both properties will be leased to working families with household incomes at 80 percent or less of the Area Median Income. Patriot Pointe offers units to residents participating in a special U.S. Department of Housing and Urban Development program that helps homeless veterans and their families find permanent housing.
“Patriot Pointe and Stallion Ridge represent an expansion of the Fort Worth Housing Solutions portfolio and will allow our agency to help more individuals and families find safe, affordable housing,” Fort Worth Housing Solutions President Mary-Margaret Lemons said in a news release. “These beautiful, new communities are in desirable locations with access to quality schools, job centers and amenities that families need. And we are especially pleased to reserve units for veterans who have given so much to our nation.”
Patriot Pointe is a 220-unit property at 2151 S.E. Loop 820, just west of the new Fort Worth VA Clinic. Stallion Ridge has 204 units and is near Everman ISD schools and businesses along Everman Parkway and I-35 West.
Both properties offer business and fitness centers; large spacious floor plans with upgraded flooring, walk-in closets and energy efficient appliances; and a large swimming pool and playground area.
Each location also has onsite property management staff focused on supporting the needs of families residing in the development. Monthly rental rates for the sites range between $820-$1,350. Patriot Pointe welcomed its first resident in October 2020 while Stallion Ridge welcomed its first resident in May.
“LDG prides itself on ensuring that our properties are well-maintained and that the families we serve have access to many amenities that are not often found in affordable housing developments,” said Justin Hartz, development director for LDG’s Texas market. “Having a dedicated on-site staff at each location that is focused on the needs of the residents they support also helps to ensure that over the years, our properties remain a place that residents are proud to call home.”
Financing for Patriot Pointe and Stallion Ridge was provided through Red Stone Company and Enterprise Community. Fort Worth Housing Solutions also providing funding through the U.S. Department of Housing and Urban Development’s Rental Assistance Demonstration, or RAD, program.
Chris Dischinger, co-founder and co-principal of LDG Development, says that as the country continues to work to identify ways to meet the growing demand for affordable housing, the partnership with Fort Worth Housing Solutions is a model for other communities.
“The COVID-19 pandemic was a vivid reminder that more needs to be done to ensure working families, especially members of the military who are making the ultimate sacrifice and are working to protect our country, have access to quality housing,” Dischinger said. “We are proud to once again partner with FWHS as it works to address the needs of the Fort Worth area.”
Fort Worth Housing Solutions was established in 1938 and its portfolio now includes 40 properties with almost 6,700 affordable units.
LDG Development is the nation’s largest developer of affordable housing. Headquartered in Louisville, Kentucky, the company has created more than 16,000 units of affordable housing for working families and active seniors in seven states.