An affordable housing development may be coming to east Fort Worth.
At its meeting on March 31, the Fort Worth City Council unanimously approved a request from an Indiana-based developer to apply for a state housing tax credit to build affordable housing.
The housing development, which would be at 7124 Anderson Blvd., would consist of up to 321 one-, two-, three-, and four-bedroom apartments reserved for residents earning less than 60% of the area median income, according to a Fort Worth city staff report.
The developer, Kittle Property Group, has developed over 150 mixed-income properties in 16 states, according to the staff report.
The development’s amenities would include a clubhouse, fitness center, pool, playground, and a dog park.
Getting a nod from the City Council will allow the developer to apply for the 4% non-competitive housing tax credit, which is a financing program provided by the Texas Department of Housing and Community Affairs. Unlike the 9% housing tax credit program, this tax credit is automatically available to developers that agree to use tax-exempt bonds to fund half of the project.
If that tax credit is received, the developer would get a waiver on up to $30,000 worth of fees from the city of Fort Worth.
A possible development at this site also appeared before the council in September, with a different developer attached, also for approval to apply for that tax credit. The council unanimously approved that motion as well.
Another apartment complex, called Vic Centre Apartments, is planned for an adjacent parcel of land at the same address, developed by Utah-based Summa Terra Ventures. That complex would have 268 units, leased at market rate. Construction is not complete on that project.
Kittle did not respond to multiple requests for comment.
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