October 19, 2023

Today’s Forecast

86º | Sunny | 0% chance of rain | Sunrise 7:36 a.m. | Sunset 6:52 p.m.

🏡 Housing for all

The city approved 23 strategies to increase access to affordable housing in Fort Worth. | Photo by FTWtoday

City Council adopted a new Neighborhood Conservation Plan and Housing Affordability Strategy earlier this week and we’re here to break down the 130-page document into a quick morning read.

Created by the Neighborhood Services Department, the five-year plan will tackle Fort Worth’s growing housing crisis and help families find affordable housing and achieve home ownership.

Neighborhood Conservation Plan

The plan includes tools that will help the city tailor its approach to different neighborhoods, while improving the safety and livability of different areas without pricing out and displacing residents.

The Neighborhood Strategy Measure has categorized neighborhoods as distressed, challenged, in flux, steady, stable, and thriving. These classifications allow the city to determine which neighborhoods need maintenance, investment, and capacity expansion.

FTW-neighborhood-strategy-measure — In the full plan, the Neighborhood Strategy Measure evaluated areas based on demographics, poverty, education, infrastructure condition, and health issues.
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Map courtesy of the City of Fort Worth

Housing Affordability Strategy

Fort Worth’s median housing price is rising faster than its area median income (AMI), meaning middle- and low-income families cannot afford to buy a middle-priced home. Meanwhile, rental rates have risen 22.8% since March 2020.

Additionally, displacement is already happening, particularly in areas with a large percentage of Hispanic and Black residents. Tarrant County residents experiencing homelessness in the second quarter of this year numbered 5,000.

FTW-displacement-map — The city has identified areas where residents are experiencing or at risk of being priced out and displaced from their homes.
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Map courtesy of the City of Fort Worth

In order to lower the price of housing, close the affordability gap, and reduce the incidence of homelessness, the city has outlined 23 strategies. The following six are high priority:

Establishing a land bank
Expand Housing Finance Corporation tools and bonds
Provide additional city investment — raising $100 million over four years likely through bonds — for affordable housing development and preservation
Encourage new private and philanthropic funding entities to directly invest
Support Community Development Corporations that offer programs and services
Create Community Land Trusts that own properties and ensure that the homes remain affordable

Click the button below to read the city’s next steps.

What's next?

Events

Thursday, Oct. 19

Ladies Night Out | Thursday, Oct. 19 | 5-7 p.m. | Dwell Studio Salon, 6530 Hawks Creek Ct., Fort Worth | Free | Grab your girlfriends to shop, pick out permanent jewelry, and snack on delicious treats.
Lukas Nelson + POTR | Thursday, Oct. 19 | 8 p.m. | Tannahill’s Tavern & Music Hall, 122 E. Exchange Ave., Ste. 200, Fort Worth | $29.50-$33 | Jam out to the country rock band from California.

Friday, Oct. 20

NEEDTOBREATHE | Friday, Oct. 20 | 7:30 p.m. | Dickies Arena, 1911 Montgomery St., Fort Worth | $20-$90 | Catch the alternative band’s “The Caves World Tour” with special guest Judah & the Lion.
Prokofiev and Tchaikovsky | Friday, Oct. 20-Sunday, Oct. 22 | Times vary | Bass Performance Hall, 525 Commerce St., Fort Worth | $26-$99 | Canadian performance troupe Old Trout Puppet Workshop will mount a puppet show of “Peter and the Wolf” set to classical music from the Fort Worth Symphony Orchestra.

Saturday, Oct. 21

The Great Pumpkin Plunge | Saturday, Oct. 21 | 9 a.m.-12 p.m. | Burleson Recreation Center, 550 NW Summercrest Blvd., Burleson | $5-$10 | Pick a pumpkin from the floating patch in an indoor swimming pool.
Boo Run | Saturday, Oct. 21 | 4 p.m. | Keller Town Hall, 1100 Bear Creek Pkwy., Keller | $30-$40 | Lace up your sneakers, don your costume, and go for a spooky run in the dark supporting Community Storehouse.

Events calendar here

Click here to have your event featured.

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Real Estate

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Offerpad makes literally (almost) everything easier. | Photo by Offerpad

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News Notes

Biz

Sundance Square fixture Reata Restaurant will move to the ground floor of The Tower at 530 Throckmorton St. — its 1996 location — next July. The new location is a stepping stone in the restaurant’s search for a new permanent home after it announced it would give up its lease in March 2022.

Announced

Popular eatery West Side Cafe is closing temporarily for maintenance. The cafe will be closed from Monday, Oct. 23 to Tuesday, Oct. 31, and will reopen at 7 a.m. on Wednesday, Nov. 1. Stop in for a slice of oatmeal cake.

Outdoors

City Council purchased four lots for $545,000 within the Lakeland Addition, northwest of town, for the expansion of the Fort Worth Nature Center & Refuge. The properties on Marks Lane are currently occupied but will be ceded to public land upon the passing of their residents.

Open

A new coffee shop has taken over the storefront at 6475 Camp Bowie Blvd. Flat Track Coffee expanded from Austin and set up shop in the former home of Lazy Daisy Coffee. Head over for a cup of joe and keep your eye out for a grand opening celebration. (PaperCity Magazine)

Eat

Calling pastry chefs of all ages — enter Sweet Lucy’s Pies’ baking contest at 10 a.m. on Saturday, Oct. 28 at The Clearfork Farmers Market. Teens and adults are invited to bring their best fall pies + bakers under 12 years old can submit their scariest treats to be judged by local celebrities.

Active

The world’s biggest bounce park has taken over the parking lot of Grapevine Mills Mall. Fun Box features a 23-ft slide, a mountain challenge climbing wall, and a ninja wall. Use discount code “EDIT30" to save money on your ticket.

Civic

City Council approved an agreement with TxDOT for two Safe Routes to School projects. The projects will improve pedestrian facilities — with new crosswalks and signs — to ensure the safety of students at A.M. Pate Elementary and A.V. Cato Elementary.

Trending

Supermodel Bella Hadid was spotted earlier this week in the Stockyards holding hands with an unnamed cowboy. Shooting an ad campaign or finding love in Cowtown? You decide. See what other celebs have been in town recently.

Development

Earlier this week, the Tarrant County Commissioners Court selected Hoefer Welker to design the new JPS Health Network medical office building. The $112 million is part of an $800 million bond program and is slated for completion between 2025 and 2027.

Drink

Love whiskey? Join Vinovest’s exclusive whiskey investing community and own your own casks hassle-free. Sell casks for a profit, or opt to bottle them to drink.*

Development

Coming soon to the Cultural District

Take a sneak peek into the future of University Drive with this new development. | Image courtesy of Goldenrod Companies

City Council approved nearly $31 million in incentives for two Cultural District developments earlier this week. The projects by Nebraska-based Goldenrod Companies will bring 740,000 sqft and a $400 million investment to the West 7th Street area.

The Van Zandt | West 7th + Foch Streets
The mixed-use development includes 95,000 sqft of office and 10,000 sqft of retail space, in addition to 226 apartments and a 500-space garage. In order to claim all of the city’s investment, the project must be finished by the end of 2026.

One University | University Drive + Bledsoe Street
Set to open at the end of 2027, the development includes 100,000 sqft of office and 10,000 sqft of retail space, 240 apartments, an 800-space parking garage, and a 175-room hotel.

Goldenrod Companies has agreed not to lease tenant space to freestanding bars or nightclubs for the duration of the 15-year contract. This does not apply to bar service location within hotels or restaurants.

Question

Be the Broker: What would you add?

Now it’s your turn — what retail or restaurant tenants would you like to see come to the Cultural District as part of these projects?

Tell us

The Buy

These smart light bulbs. You can program your lights to custom timers, turn lights off when you’re not home, and set the mood with different colors — all from your phone.

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The Wrap

Today’s edition by:
Kate

FTW-solar-eclipse-1878 — Just your casual Tarrant County eclipse viewing, circa 1987.
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Photo courtesy of The Portal to Texas History

From the editor

After missing last week’s Ring of Fire (I know, I know), I can’t wait to get a peek of the total solar eclipse coming next April. Maybe its time to get myself a telescope. Think I’ll look as good as these Fort Worth fellas waiting for the same celestial event way back on July 29, 1878?

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