OURT & W ELLING ELLINGTON C OUR OURT A PA PARTMENTS A Proposed - PowerPoint PPT Presentation

C OW OWEN C OUR OURT & W ELLING ELLINGTON C OUR OURT A PA PARTMENTS A Proposed Development of Fort Worth Housing Solutions Fort Worth Housing Solutions 1201 East 13 th Street Fort Worth, Texas 76102

Fo Fort Wo Worth Housi Housing Solutions Solutions FWHS has constructed and/or acquired residential developments in all areas of the city of Fort Worth. FWHS continues to locate new sites in all areas of the city. Fort Worth Housing Solutions 1201 East 13 th Street Fort Worth, Texas 76102

Cowen Court Wellington Court

Neighborhood Map Cowen Court New Quiet Zone Wellington Court Boys & Girls Club Rosedale Park Cavile Place

In Intr troductio tion Cowen Court Apartments – A Proposed Mixed Income Residential Development • Located at Rosedale and Amanda St in Fort Worth • The site area is approximately 3.59 acres • Planned for 107 units • A mix of affordable units • 30 – One Bedroom, one bath – 750 sq. ft. • 54 – Two Bedroom, two bath – 1,034 sq. ft. • 23 – Three Bedroom, two bath – 1,259 sq. ft. Fort Worth Housing Solutions 1201 East 13 th Street Fort Worth, Texas 76102

Pr Property Desi Design gn – C – Cowen Court Court The property will be developed into: • 4 buildings • 3 floors per building Amenities include: Clubhouse with Fitness Center, Community Room and Laundry Room, Toddler Playground, Controlled Gated Entry, Free WiFi in common areas. Fort Worth Housing Solutions 1201 East 13 th Street Fort Worth, Texas 76102

Site Plan – Cowen Court

In Intr troductio tion Wellington Court Apartments – A Proposed Mixed Income Residential Development • Located at Rosedale and Stalcup Road in Fort Worth • The site area is approximately 4.98 acres • Planned for 132 units • A mix of market rate units and affordable units • 34 – One Bedroom, one bath – 750 sq. ft. • 66 – Two Bedroom, two bath – 1034 sq. ft. • 32 – Three Bedroom, two bath – 1259 sq. ft. Fort Worth Housing Solutions 1201 East 13 th Street Fort Worth, Texas 76102

Pr Property Desi Design gn – Wellin ellington Court Court The property will be developed into: • 5 buildings + Clubhouse • 2 and 3 floors per building Amenities include: Clubhouse with Fitness Center, Community Room and Laundry Room, Toddler Playground, Controlled Gated Entry, Free WiFi in common areas Fort Worth Housing Solutions 1201 East 13 th Street Fort Worth, Texas 76102

Site Plan – Wellington Court

Building Design

Building Design

Unit Br Uni Break eakdown own Affordable rate units: 239 Units Area Medium Income (AMI) ‐ $69,400 Family Size 1 2 3 4 5 Income (60%) $29,160 $33,360 $37,500 $41,640 $45,000 Rental Rates Unit Size 1 ‐ bedroom 2 ‐ bedroom 3 ‐ bedroom Rental Rate $781 $937 $1,083 Fort Worth Housing Solutions 1201 East 13 th Street Fort Worth, Texas 76102

Sal Salaries ries of of lo local positions: positions: Fort Worth ISD Employee Sampling City of Fort Worth Employee Sampling Job Title Salary Job Title Salary Campus Monitor $16,236 Administrative Assistant $38,360 Teacher Assistant I $16,690 Code Compliance Technician $24,555 Attendance Clerk $24,922 Equipment Operator $30,691 Custodian I $21,736 IT Help Desk Technician $33,060 Fort Worth Housing Solutions 1201 East 13 th Street Fort Worth, Texas 76102

Uni Unit Br Break eakdown own Rental Assistance Demonstration (RAD) units: • 20% of Units = 48 Units • Definition of RAD Units The RAD is a new program initiated by HUD, to address the underfunded capital needs of Public Housing apartments across the country. RAD will provide FWHA with the means to de ‐ concentrate our public housing developments into more vibrant, mixed income and mixed use neighborhoods. Fort Worth Housing Solutions 1201 East 13 th Street Fort Worth, Texas 76102

Dev Developm pmen ent Pa Partners rs • Fort Worth Housing Solutions • Madhouse Development • Developer with a Texas presence • Has 30+ years of multifamily developments, specializing in affordable housing. • This will be the first development partnership with Fort Worth Housing Solutions. Fort Worth Housing Solutions 1201 East 13 th Street Fort Worth, Texas 76102

Pr Property Ma Manage geme ment Te Team • QUADCO – Management company • Based in Fort Worth • Manages most properties operated and wholly or partially owned by Fort Worth Housing Solutions as well as properties owned by other Texas agencies. • Focused on • Compliance • Security • Quality Fort Worth Housing Solutions 1201 East 13 th Street Fort Worth, Texas 76102

QUESTIONS Fort Worth Housing Solutions 1201 East 13 th Street Fort Worth, Texas 76102