FORT WORTH (WBAP/KLIF)-The Fort Worth City Council voted on two resolutions totaling $13.2 million to support the construction of the Evans & Rosedale Urban Village. The development will include commercial, retail, and residential units, as well as a parking structure and enhancements to the plaza and other public spaces, in return for the economic development incentives.
The city plans to pay for this incentive with funds from the $173 million the city received from the American Rescue Plan Act (ARPA).
The first resolution authorizes $9 million in grants for Dallas-based developer Hoque Global, if it met certain conditions.
Those conditions include setting aside a minimum of 20% of the planned 292 apartment units and 20 town homes for affordable housing. Ten percent of the units will be set aside for households that make 80% or below the Fort Worth-Arlington area’s median income. The other 10% will be for residents making 60% or below the area median income. The developer is also required to invest $70 million in both phases of the project and 15% of contractors need to be minority- or women-owned businesses.
The first phase of the project, will have a 292-unit apartment building, live-work spaces and retail space and a grocery store. That will built along Missouri Avenue north of East Dashwood Street.
20 town homes will be built along the east side of Evans Avenue south of East Terrell Avenue during the second phase.
UT Southwestern found in a 2019 study, the zip code where the development will be built, had the lowest life expectancy in the state. District 8 council member Chris Nettles said this is due to lack of access to amenities. He said projects like this will give the area the needed economic boost.
