TX Western Center 2018 Ltd is applying to the Texas Department of Housing and Community Affairs (TDHCA) for 2018 Non-Competitive (4%) Housing Tax Credits for the development of The Heights at Western Center Apartments, a mixed income multifamily development and has requested support from the City of Fort Worth. TDHCA requires Housing Tax Credit applicants to provide a Resolution of No Objection from the governing body of the jurisdiction in which the proposed development will be sited. As part of these TDHCA requirements, the governing body must also conduct a public hearing for citizens to provide comment on the proposed development.
The Heights at Western Center will have approximately 195 units. There will be 10 market rate units, with the remaining 165 units set aside for households earing 60% or less of Area Median Income (AMI). Approximately 20 units will be set aside for households earning 30% or less of (AMI) including 10 units being set aside for Permanent Supportive Housing. The development will have one, two and three bedroom units. Community amenities include a state-of-the-art community center which will include a business center, learning classroom, fitness center, media room and full sized kitchen. Other community amenities include access gates, covered parking, swimming pool, playground areas, and courtyards with picnic tables and grills.
On December 5, 2017, the Board of Directors of the Fort Worth Housing Finance Corporation (FWHFC) approved entering a partnership with Generation Housing Partners, LLC, by forming the general partner of TX Western Center 2018 Ltd, the entity that will construct, own and manage the development. The FWHFC will own the land and lease it to the partnership under the terms of a long term ground lease and will also be the co-developer and general contractor for the development.
The zoning for the development will have to be changed from AG to C. The developer has met with the Alexandra Meadows and Crossings at Fossil Creek Neighborhood Associations, and is in the process of obtaining formal feedback from them. This development meets the criteria in the City's Housing Tax Credit Policy to receive a Resolution of No Objection.
Following the close of the public hearing, Staff requests that the City Council consider the attached Resolution of No Objection to support the application for 2018 Non-Competitive (4%) Housing Tax Credits for the development of The Heights at Western Center Apartments. The development could assist the City in fulfilling its goals under its Consolidated Plan and Comprehensive Plan by supporting economic development and providing quality, accessible, affordable housing for low to moderate income residents.
This development is located in COUNCIL DISTRICT 2.
This M&C does not request approval of a contract with a business entity. |
