Two new residential buildings will replace grassy lots off Evans Avenue soon.
New details are emerging for the long-awaited $63 million Evans and Rosedale mixed-use urban village expected to begin construction in the Historic Southside District later this year. The project is developed by Milwaukee-based Royal Capital.
In February, Kevin Newell, the company’s president and CEO, told Southside residents that the transformative project north of Rosedale and Evans was months away from starting.
“Hope y’all are excited. This thing’s coming,” Newell said at a Feb. 16 meeting of the Historic Southside Neighborhood Association.
The two new residential buildings are planned in the 900 block of Evans between East Terrell Avenue and East Humbolt Street, according to filings with the Texas Department of Licensing and Regulation. The lots are near the United Community Centers’ Bethlehem Center.
At 901 Evans Ave., seven flat-style residential units will occupy an 11,182-square-foot building. That project, titled Building F, is expected to cost about $1.6 million.
Next door at 909 Evans, six townhouses will share an 8,300-square-foot building expected to cost about $1.2 million.
Both projects are expected to start Nov. 1 and finish construction by April 30, 2027, according to the filings.
The urban village is intended to revitalize the Historic Southside, an area smaller than a square mile that has more than 2,500 residents with a median income of $51,899 and an unemployment rate of 8%, more than double the rest of the city. Most residents work in the health care industry, according to North Texas Community Foundation data.
Royal Capital also plans to build a mix of up to 181 affordable housing units with income restrictions, intended for the neighborhood’s older residents. The city’s $20 million investment in the village includes tax increment financing for roads and infrastructure.
Officials are working to attract businesses to the project, including a grocer or market to sell healthy food, one of the top needs of the neighborhood.
The urban village project has already attracted one business — Fort Worth-based EA Wealth Management LLC — around the corner. That company is remodeling a 1935-era duplex at 1101 E. Rosedale St. into its offices, after receiving a five-year tax abatement from the city last year.
Eric E. Garcia is senior business reporter at the Fort Worth Report. Contact him at eric.garcia@fortworthreport.org.
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