A $71 million affordable housing complex is coming to the northeast corner of North Main Street and 29th Street near the Fort Worth Stockyards.<\/p>\n
Officials with Fort Worth Housing Solutions<\/a> and Oldham Goodwin Development plan to build The Exchange Apartments at the site as part of a 14.6-acre Stockyards North mixed-use project, according to a news release. The 296-unit complex will offer studio, one-, two- and three-bedroom options to provide needed housing on the city\u2019s Northside.<\/p>\n Casey Oldham, CEO of the Texas-based development company, said the complex is the start of a long-term plan to create a walkable, mixed-use district for the growing neighborhood that will be bolstered by new developments in the Stockyards. The project is part of the city\u2019s Opportunity Zones<\/a> program that provides federal tax benefits to encourage private investment in low-income areas.<\/p>\n \u201cAs our first Opportunity Zone development, it establishes the foundation for future investment while addressing Fort Worth\u2019s growing need for attainable housing,\u201d said Oldham, also the company\u2019s chief investment officer. \u201cThis milestone reflects two decades of thoughtful planning and collaboration with Fort Worth Housing Solutions, the city of Fort Worth, our investors and an exceptional team of project partners.\u201d<\/p>\n Mary-Margaret Lemons, president and CEO of Fort Worth Housing Solutions, said the number of residents who live in Northside is expected to grow by 6% by 2030.<\/p>\n \u201cThe addition of a\ufb00ordable housing in the Stockyards helps ensure our neighbors who bring the district to life every day can a\ufb00ord to live and work in the iconic neighborhood that embodies Fort Worth\u02bcs history and character,\u201d she said in a statement.\u00a0<\/p>\n The complex is the first Fort Worth Housing Solutions project in the Stockyards. Once complete, it will offer residents amenities such as a pool, fitness center, clubhouse, dog park, grilling areas, outdoor spaces and future trail connectivity, officials said.<\/p>\n \u201cThe housing community will be a cornerstone of the future mixed-use neighborhood, which is planned to include hospitality, retail, restaurants, and commercial development,\u201d officials said in the news release.<\/p>\n The Stockyards North development will include a planned Home2 Suites hotel by Hilton, retail stores, restaurants and other commercial spots.<\/p>\n Oldham Goodwin Development has a Fort Worth office at 2246 N. Main St., several blocks south of the planned project.<\/p>\n \u201cWorking alongside local businesses, property owners, and community partners every day has reinforced the importance of creating housing opportunities that allow the workforce driving the Stockyards\u2019 continued success to remain part of the community they help build,\u201d the company said in the news release.<\/p>\n Hunter Goodwin, president and chief operating officer of Oldham Goodwin, said the Stockyards area is one of the company\u2019s favorites.<\/p>\n \u201cWe have been bullish on the Fort Worth Stockyards since our company\u2019s beginning, making our first investment there in 2006,\u201d Goodwin said. \u201cIt is very meaningful for our entire company to be able to bring a host of our services to one of our favorite Texas markets while also partnering with Fort Worth Housing Solutions, who continue to lead in addressing the nationwide housing a\ufb00ordability crisis.\u201d<\/p>\n The development company completed more than $1 billion in projects \u2014 including eight multifamily complexes \u2014 over the past 22 years, company officials said.<\/p>\n Other companies involved in the Stockyards-area apartment complex project include Strategic Construction, Sage Architectural Alliance, Kimley-Horn and Amegy Bank.<\/p>\n Earlier this year, a Fort Worth Housing Solutions-affiliated entity purchased the 320-unit Skyline Prairie Homes<\/a> cottage-style rental community in north Fort Worth. That complex was purchased through the sale of $105 million in bonds, according to previous Fort Worth Report coverage.<\/p>\n The housing organization is also building several new affordable apartment complexes in the Stop Six area<\/a> of east Fort Worth.<\/p>\n Eric E. Garcia is senior business reporter at the Fort Worth Report. Contact him at eric.garcia@fortworthreport.org<\/a>.<\/p>\n