Housing Trust Group to Develop $22M Mixed-Income Community in Fort Worth
FORT WORTH, TEXAS – Florida-based Housing Trust Group (HTG) will develop Park Tower, a 90-unit mixed-income community in Fort Worth valued at $ 22 million. HTG is developing the property in collaboration with the Texas Department of Housing & Community Affairs. The property’s 78 restricted-income units are reserved for households earning less than 30, 50 and 60 percent of the Area Median Income (AMI), while the other 12 units are rented out at market rents. The residences have floor plans with one, two or three bedrooms and are equipped with quartz countertops, wooden floors and washing machine and dryer connections. Communal facilities include a clubhouse / common room, business center / computer room, fitness center, courtyard and laundry facilities on site. The design team consists of Overland Partners Architecture and Urban Design from San Antonio. Construction work is scheduled to begin in February 2022 and be completed by the end of 2023. Monthly rents in the Park Tower will range from $ 400 to $ 2,000.