City of Fort Worth, TX

11/20/2024 | Press release | Distributed by Public on 11/20/2024 05:17

City Council approves $8 million for affordable housing project

City Council approves $8 million for affordable housing project

Published on November 20, 2024

The City Council approved an $8 million financial package to support Columbia Renaissance Square Phase III at yesterday's meeting.

The project will bring 100 affordable housing units to southeast Fort Worth, helping provide quality homes for low- and moderate-income residents at different life stages.

Project details

  • Location: 2757 Moresby St.
  • Goal: Revitalize the Renaissance Heights area with affordable housing.
  • Income range: Units for individuals and families earning 30% to 80% of the area's median income (AMI). Ten of them will be "deeply affordable," reserved for residents earning 30% or less of the AMI.
  • Funding sources: Federal grants and forgivable loans make up the $8 million package.
  • Timeline: Construction is set to start February 2025 and is anticipated to take 18 months.

Columbia Renaissance Square aligns with the City's efforts to:

  • Provide safe, accessible housing for those in need.
  • Boost economic development in disadvantaged neighborhoods.
  • Revitalize areas like Renaissance Heights.

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City of Fort Worth, TX published this content on November 20, 2024, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on November 20, 2024 at 11:17 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]