An affordable housing development may be coming to east Fort Worth.<\/p>\n
At its meeting on March 31, the Fort Worth City Council unanimously approved<\/a> a request from an Indiana-based developer to apply for a state housing tax credit to build affordable housing.<\/p>\n 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.<\/p>\n The developer, Kittle Property Group, has developed over 150 mixed-income properties in 16 states, according to the staff report.<\/p>\n The development\u2019s amenities would include a clubhouse, fitness center, pool, playground, and a dog park.<\/p>\n 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.<\/p>\n 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.<\/p>\n 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.<\/p>\n